Report : Asia-Pacific Factory Automation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware and Software), Hardware (Sensors, Controllers, Robots, Drives, and Others), Type (Programmable Automation, Fixed Automation, and Flexible Automation), Technology (Programmable Logic Controller (PLC), Distributed Control System (DCS), Supervisory Control and Data Acquisition System (SCADA), Human Machine Interface (HMI), and Others), and Industry Vertical (Automotive, Food and Beverage, Oil and Gas, Manufacturing, Mining, and Others)
At 9.3% CAGR, the APAC Factory Automation Market is speculated to be worth US$ 1,03,312.63 million by 2028, says Business Market Insights
According to Business Market Insights' research, the APAC factory automation market was valued at US$ 60,450.80 million in 2022 and is expected to reach US$ 1,03,312.63 million by 2028, registering a CAGR of 9.3% from 2022 to 2028. Increase in the number of product launches and rising adoption of factory automation across automotive industry are the critical factors attributed to the market expansion.
The continuously growing demand for factory automation has compelled the market players to raise investments in developing new and innovative products and software offerings. A few of the major product developments have taken place in recent years. For instance, in September 2022, Fanuc Corporation announced the launch of new FANUC SCARA robots for food and cleanroom applications. The FANUC SR-3iA/C and SR-6iA/C are fast and precise SCARA robots making them ideal for use in food plants and clean rooms. The robots also consist of white epoxy coating for extra durability and IP54 protection guarding against the ingress of contamination from dust and water spray. Similarly, in August 2022, Rockwell Automation, Inc. announced the enhancement in the compact PowerFlex Drive. The PowerFlex 6000T drive can accept up to 13.8 kV primary voltage, which is nearly twice the input voltage. Its real-time operational intelligence can monitor system performance, save energy with economizer mode, deliver faster commissioning with adaptive control, and reduce downtime and repair costs with predictive maintenance alerts. Such advancements in factory automation solutions, supported by high investments by manufacturers to enhance their product portfolio and innovate products as per customer changing requirements, are expected to contribute to the growth of the factory automation market during the forecast period. In addition, new product launches will help end-user industries such as automotive, food & beverages, oil & gas, and mining improve production time.
On the contrary, high operating cost for small and medium manufacturing companies hurdles the growth of APAC factory automation market.
Based on component, the APAC factory automation market is segmented into hardware and software. The hardware segment held 70.7% market share in 2022, amassing US$ 42,723.65 million. It is projected to garner US$ 70,836.80 million by 2028 to expand at 8.8% CAGR during 2022-2028.
Based on hardware, the APAC factory automation market is segmented into sensors, controllers, robots, drives, and other hardware components. The robots segment held 36.9% market share in 2022, amassing US$ 15,785.65 million. It is projected to garner US$ 28,494.84 million by 2028 to expand at 10.3% CAGR during 2022-2028.
Based on type, the APAC factory automation market is segmented into programmable automation, fixed automation, and flexible automation. The fixed automation segment held 42.0% market share in 2022, amassing US$ 25,398.08 million. It is projected to garner US$ 40,718.67 million by 2028 to expand at 8.2% CAGR during 2022-2028.
Based on technology, the APAC factory automation market is segmented into programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition (SCADA), Human-Machine Interface (HMI), and others. The supervisory control and data acquisition system (SCADA) segment held 28.2% market share in 2022, amassing US$ 17,050.95 million. It is projected to garner US$ 32,102.65 million by 2028 to expand at 11.1% CAGR during 2022-2028.
Based on industry vertical, the APAC factory automation market is segmented into automotive, food and beverages, oil and gas, manufacturing, mining, and others. The manufacturing segment held 25.3% market share in 2022, amassing US$ 15,312.17 million. It is projected to garner US$ 26,760.71 million by 2028 to expand at 19.8% CAGR during 2022-2028.
Based on country, the APAC factory automation market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 25.8% market share in 2022. It was assessed at US$ 15,600.28 million in 2022 and is likely to hit US$ 28,049.38 million by 2028, exhibiting a CAGR of 10.3% during the forecast period.
Key players dominating the APAC factory automation market are ABB Ltd; Bosch Rexroth AG; Emerson Electric Co.; Fanuc Corporation; General Electric Company; Honeywell International Inc.; Mitsubishi Electric Corporation; OMRON Corporation; Rockwell Automation, Inc.; and Siemens AG among others.
In 2022, OMRON Corporation RAMP Inc. as a new partner for its Certified System Integrator program. RAMP is an automation solutions provider which designs and builds custom automation and robotic systems. In 2022, Siemens and NVIDIA announced the expansion of an existing partnership. Through this partnership the companies are promoting digital transformation in industrial verticals. They will be exploring opportunities within the industrial metaverse, by connecting Siemens Xcelerator and NVIDIA Omniverse platform.
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