The rising demand for human-robot collaboration in various sector such as automotive, aerospace and defense and others sector for overall cost reduction is substantially driving the market. Robots are playing an imperative role in the manufacturing sector. The rise of industrial robots witnessed a hefty expansion in developed countries and certainly seems to be inevitable being driven by a range of production demands, including continued adaptation to the proliferation of automation and the IoT, increased resource efficiency, and need for safer and more simplified robotic technologies to work in collaboration with humans. According to IFR (International Federation of Robotics), there are more than 1 million industrial robots at work in industrial units across the globe. Many institutions and organizations have taken initiatives for the adoption of automation in manufacturing of various sector. For instance, UK’s Manufacturing Technology Centre pioneered robot technology combining laser metrology and a real-time control system.
Browse the full report description of "Global Factory Automation Market Size, Share & Trends Analysis Report by Component (Industrial Robots, Machine Vision, Human Machine Interface (HMI), Sensors, Control Valves, and Others), By Control Systems (PLC, DCS, SCADA, MES, and Others), By Industry (Automotive, Aerospace & Defense, Oil & Gas, Chemical, Food & Beverages, Healthcare, and Others) and Forecast 2020-2026" at https://www.omrglobal.com/industry-reports/factory-automation-market
AI is the next logical step for the manufacturing industry to enhance productivity, tooling utilization production line and to minimize the production cost per unit. To gain this, the manufacturers are using AI enabled systems as a part of their operations. For instance, Praxis Packaging Solutions, an American packaging solution provider, is using the US-based Rethink Robotics’ industrial robots. Praxis deployed Baxter industrial robots mainly focused on cost-effective packaging and repackaging of new products and rapid reconfiguration of the assembly process . Moreover, the scientists at the Novartis Institute of BioMedical Research (NIBR) are applying AI technology to collect, analyze, and achieve insights from clinical trial data from a range of internal sources. Verge Genomics uses AI to speed up drug discovery during preclinical trials. This shows the significant adoption of automation coupled with AI technologies by the different industry manufacturers that are contributing to the growth of the market.
There is an increasing role of industrial robots in the automotive industry, which in turn, is offering significant opportunity for the growth of the market. For instance, as per IFR, in terms of market share, the most important consumer of robots is the automotive sector. With the support to AI-based robots, it becomes easier to detect and solve a fault as they are programmed to detect the faults and provide solutions to overcome the damage. Bosch and General Electric are some major companies that are investing in machine learning-powered approaches. Furthermore, automated electronics manufacturing has witnessed significant growth over the years. Major electronics equipment manufacturers, such as Hitachi, Mitsubishi, and Samsung are employing automated control systems to perform advanced manufacturing process. Such companies are highly focusing on long-term investments in automation tools to find its application in commercial products and explore its opportunities to improve their existing product range.
Global Factory Automation Market Segmentation
By Component
By Control Systems
By Industry
Global factory automation Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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