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Factory Automation Market Size to Grow USD 558.8 Billion by 2031 at a CAGR of 8.7% Valuates Reports

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BANGALORE, India, Aug. 8, 2023 /PRNewswire/ — Factory Automation Market is Segmented by Component (Sensors, Controllers, Switches and Relays, Industrial Robots, Drives, Others), by Control and Safety System (Distributed Control System (DCS), Supervisory Control and Data Acquisition System (SCADA), Manufacturing Execution System (MES), Systems Instrumented System (SIS), Programmable Logic Controller (PLC), Human Machine Interface (HMI)), by Industry Verticals (Automotive Manufacturing, Food and Beverage, Oil and Gas Processing, Mining, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.

The global factory automation market was valued at USD 242.5 Billion in 2021 and is projected to reach USD 558.8 Billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

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Major factors driving the growth of the Factory Automation Market:

With few alterations to the market structure, factory automation has developed gradually. However, due to technological disruptions, macro trends including reshoring, a worldwide shortage of trained workers, and environmental, social, and governance (ESG) initiatives, the rate of change is quickening.

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Over the course of the projection period, it is predicted that the factory automation market will grow significantly as a result of the increased need for automation for reliable and high-quality production.

 Additionally, industry participants are focusing on improving the manufacturing process efficiency to produce goods that are both affordable and of high quality, which has a big impact on the size of the factory automation market. The rising use of Industry 4.0 revolutions, which will standardize operations, is also anticipated to have an impact on the future of the industrial industries.

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TRENDS INFLUENCING THE GROWTH OF FACTORY AUTOMATION MARKET:

The demand for factory automation solutions is driven by the development of 5G wireless technology and the adoption of Industry 4.0 in a number of industries, including fiber & textiles, infrastructure, plastics, pharmaceuticals, and others. Industrial IoT, digital twin, and digitization The rise of teach-less robots, soft programmable logic controllers (PLCs), and digital twins are predicted to be the three major trends in the factory automation sector. This factor is expected to drive the Factory Automation Market.

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Factories with fully functional automation systems will unquestionably outperform businesses with fewer or no robotics. Theoretically, those with the most advanced automation systems may generate more than three times as much as their rivals. Systems that automate tasks can also operate for longer periods of time. Even if factories with fully developed automation systems must produce more complex items, this helps to boost the volume of output. Additionally, since machines are programmed to operate with extreme precision and exceptional efficiency, automation systems guarantee that there is little room for human error throughout manufacturing. It is also known that one robot can produce at a rate comparable to three to five workers. This factor is expected to drive the Factory Automation Market.

Modern automation makes it possible for factories to run considerably more cheaply. Nowadays, a few individuals and a few robots produce goods instead of hundreds of workers on an assembly line. Gaining a profit and a return on investment (ROI) will be simpler for businesses. Payroll, benefits, insurance, and sick leave costs can all be decreased by using more robots and fewer workers. This factor is expected to drive the Factory Automation Market.

The automation systems in factories can now be upgraded continuously to work in a more environmentally responsible manner. Modern systems are known to have a smaller environmental impact. Modern machinery is more accurate and controlled, uses less power, and produces less waste heat. Machines can also be mounted on walls, which are typically underused in traditional factories and can be placed in tight corners to save even more floor space. Additionally, it permits businesses to add more machines inside the plant. Additionally, robotics’ accuracy reduces the amount of scrap produced during production. This factor is expected to drive the Factory Automation Market.

Not only will manufacturing be more affordable as a result of robots, but it will also be much safer. The days of factory workers accidentally hurting themselves while the product was being made are long gone. Humans are still required, but only to manage and supervise production, apply the finishing touches, and check and guarantee the quality of the final items. This factor is expected to drive the Factory Automation Market.

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FACTORY AUTOMATION MARKET SHARE:

In terms of revenue, the industrial robots segment dominated the market, and it is anticipated that this trend would continue during the projected period.

In terms of revenue, SCADA led the market in 2021 and is anticipated to rule the sector throughout the projected period.

Latin America accounted for a sizable portion of the factory automation market in LAMEA in 2021 as a result of the presence of leading vendors like ABB Ltd, Middle East Builders Mechanical Group, and others who are making large investments in the region. Furthermore, from 2022 to 2031, the Middle East is predicted to rise at a fast CAGR of 9.79%.

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Key Companies:

  • ABB Ltd
  • Danaher Industrial Ltd
  • Emerson Electric Co
  • General Electric
  • Honeywell International Inc
  • Mitsubishi
  • Electric Corporation
  • OMRON Corporation
  • Rockwell Automation Inc
  • Schneider Electric
  • Siemens AG
  • Yokogawa Electric Corporation.

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SIMILAR REPORTS

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ABOUT US:

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Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

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Blockchain Press Releases

HTX Ventures Announces Strategic Investment in Figment Capital to Enhance Global Innovation Support

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SINGAPORE, May 30, 2024 /PRNewswire/ — HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has officially announced a strategic investment in Figment Capital, an early-stage venture fund focused on blockchain infrastructure. This investment underscores HTX Ventures’ commitment to fostering innovation and supporting scalable Web3 technology development globally.

Launched in 2021, Figment Capital is dedicated to investing in high-conviction, early-stage blockchain infrastructure projects. By leveraging its strong technical understanding and deep connection with Figment Inc., a leader in enterprise-grade staking infrastructure, Figment Capital offers unparalleled technical insights and support to its portfolio companies.

Edward, Managing Partner at HTX Ventures, stated, “We are delighted to welcome Figment Capital as a strategic partner. This investment aligns with our mission to support promising companies and drive the next generation of technological innovations. By leveraging Figment’s technical expertise and robust network, we can identify and support superior projects while also helping them expand into the Asian market. HTX Ventures continues to solidify its position as a global investment leader.”

James Parillo, Managing Partner at Figment Capital, also shared, “The HTX Ventures team has been incredibly helpful in our growth as an emerging investment fund. Their knowledge of the Asian market and experience operating a globally recognized exchange has been invaluable as we continue to grow. We’re thankful for the trust and support the HTX Ventures team has placed in us and continue to look forward to collaborating for years to come.”

Figment Capital’s portfolio boasts notable projects such as EigenLayer, Celestia, Initia, Wormhole, Movement, zkSync, and more. The trust and reputation that Figment Capital has earned among Web3 founders are further strengthened by its close collaboration with portfolio companies, providing strategic guidance and technical support.

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HTX Ventures is excited about the potential of this partnership. By combining Figment Capital’s technical prowess and industry connections with HTX Ventures’ extensive market reach, particularly in Asia, we are well-positioned to support the next wave of innovative blockchain projects. This strategic investment marks a significant milestone in our mission to enhance global innovation support in the blockchain space.

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Figment Capital, Dragonfly, Bankless Ventures, Animoca, Shima, and IVC. Visit us here.

Contact Details
Michael Wang
[email protected]

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Company Website
https://www.htx.com/en-us/ventures

About Figment Capital

Figment Capital is an early stage venture fund, focused primarily on investing in blockchain infrastructure. Launched in 2021, Figment Capital invests in high-conviction, early-stage blockchain infrastructure projects, leveraging strong technical insights and support. Notable portfolio companies include EigenLayer, Celestia, Initia, Wormhole, Movement, and Starkware.

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Blockchain Press Releases

Bybit Drives Significant Trading Surge with EUR Zero Fees Campaign

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DUBAI, UAE, May 30, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by trading volume, today announced a staggering increase in EUR trading volume following the launch of its EUR Zero Fees Fiesta campaign in early April. This move underscores Bybit’s commitment to the European market, offering a competitive and cost-effective platform for European crypto traders.

“By eliminating EUR trading fees, we’re making it easier and more affordable for European users to participate in the cryptocurrency market,” said Joan Han, Sales & Marketing Director of Bybit. “We view Europe as one of the key growth markets and are dedicated to offering a streamlined experience for European traders.

Soaring Popularity: Bybit Now #2 in Netherlands Market

The EUR Zero Fees Fiesta campaign has yielded impressive results. Since its launch, Bybit has observed a 13% average daily increase in trading volume for EUR pairs (compared to April data). This surge in volume strengthens Bybit’s position as a major player in the European crypto market. Bybit is currently ranked number two in the Netherlands, highlighting its expanding presence in the region.

Beyond Fees: Fostering a Convenient Crypto Experience for Europeans

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Bybit’s commitment to fostering a vibrant and accessible crypto ecosystem for European users extends beyond just fees. The EUR Zero Fees Fiesta campaign eliminates hidden costs, simplifying user participation in the market without surprise charges. This, combined with the seamless one-click purchase option through Google Pay across 35 currencies, empowers European users to buy and trade crypto with unmatched ease. Bybit is committed to making crypto not just accessible, but truly convenient for all European traders.

This dedication to user experience is what positions Bybit as the ideal platform for European crypto enthusiasts.  We’re constantly innovating to streamline processes and remove friction points, ensuring a smooth and hassle-free journey into the world of digital assets.

#Bybit / #TheCryptoArk /

About Bybit

Bybit is one of the world’s top three crypto exchanges by volume with over 30 million users. Established in 2018, Bybit offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Blockchain Press Releases

Artrade’s new RWA feature ‘Fragments’: Launching with a Picasso

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Investing in world-class art like buying tokens on Solana

PARIS, May 29, 2024 /PRNewswire/ — Artrade is excited to announce the upcoming launch of its new feature “Fragments”: a Real World Asset (RWA) physical masterpiece linked to a token on Solana. 

 

 

After the presale, it will be accessible in one click like any other tokens on a DEX.

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Making real world art investment easier than ever before.

The artworks 

We are only considering important artists for our new “Fragments” feature. Rapidly increasing and reliable valuations convinced us this is the right choice. We’ve been sourcing and analyzing serious offers on Monet, Picasso, Warhol and Banksy among others.

This typically expensive and elite investment opportunity is now accessible to you through trading fractions of it with Artrade.

Our first inaugural piece for this feature:

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A drawing by Pablo Picasso.

Artrade is proud to showcase this intimate piece of art by the most famous signature in the world, valued at $200,000.

The artwork will be revealed at the NFC conference in Lisbon, and the presale opened at this occasion.

After months of sourcing and researching the art market, we’re proud to come to the public with a piece by such an iconic artist.

Our vision

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Our ultimate vision is not to resell our artworks on the traditional market for a profit, but rather to create real-time quotations of our artwork’s tokens. Enhancing token value for holders over time.

Though if the artwork is resold, holders will have the option for a buyback (convert to USDC) of their tokens.

According to Artrade’s founder Paul Weibel: “On-chain real world assets will finally democratize the investment in historical masterpieces of art.”

What you get as a Fragment investor:

  • $ATR token airdrop
  • Whitelist priority on the next token offering
  • Be a part of the exclusive Fragment Collector community
  • Access to exclusive networking events and IRL showcases of the artwork

Why invest in an Art Real World Asset token?

Liquidity: contrary to a NFT or a physical artwork, a token is completely liquid and can be traded anytime.

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Value: the value of your token is really associated to the value of the artwork on the market. It’s a token with a real utility and value in the world.

Investment: the valuation of masterpieces has been reliable, strong and consistent for hundreds of years. The market knows that.

With Artrade’s RWA Token, this value will be displayed in real-time and opened to a dynamic Web3 native secondary market.

About Artrade 

Artrade is a French JEI (young innovative R&D company) created and funded in 2021 through an ICO (initial coin offering). Since then, the $ATR token has reached an ATH of $140m valuation with a pool of thousands of holders.

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The main and already running marketplace is built around Art real world assets by contemporary artists. Counting around 4,000 monthly users, Artrade is gaining more and more credibility and traction in the space.

Stay tuned for more updates and get ready to invest in world-class art with Artrade’s innovative “Fragments” feature.

Artrade, trade art. 

Photo: https://mma.prnewswire.com/media/2424684/Artrade.jpg

Media contact:
[email protected]

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