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Industrial Control & Factory Automation Market worth $399.12 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 21, 2024 /PRNewswire/ — The global industrial control & factory automation market is anticipated to grow from USD 255.88 billion in 2024 to USD 399.12 billion by 2029, at a CAGR of 9.3% during the forecast period according to a new report by MarketsandMarkets™. Several key factors are driving the industrial control and factory automation market, including increased IoT and Al integration in industrial environments, a growing emphasis on operational efficiency and productivity, and significant and ongoing government investments in 3D printing technologies, all of which are contributing to market growth. With the emergence of new technologies in firms, regulatory compliance regarding industrial solutions of immense significance is also involved. There is a growing need for innovative techniques to reduce production downtime and waste. For instance, the use of real-time data analytics in factories help companies optimize operations hence efficiency while reducing production waste.

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Browse in-depth TOC on “Industrial Control & Factory Automation Market” 
160 – Tables
60 – Figures
336 – Pages

Industrial Control & Factory Automation Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 255.88 billion

Estimated Value by 2029

$ 399.12 billion

Growth Rate

Poised to grow at a CAGR of 9.3%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Technology, Component, Solutions, Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Complexity in deployment of industrial control & factory automation solutions

Key Market Opportunities

Increased demand for safety compliance automation solutions

Key Market Drivers

Increased adoption of IoT and AI in industrial environments

Distributed control system (DCS) segment is expected to account for the largest share of the Industrial control & factory automation market during the forecast period.

The industrial control system further segmented into Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Industrial PC, Human Machine Interface. A distributed control system (DCS) is expected to account for the largest share, which is an industrial automation solution primarily deployed in process industries to facilitate plant control through a distributed network of supervisory and control elements. DCS systems are vital for optimizing operational processes by distributing control across various plant sections. The market for DCS is driven by the need for operational efficiency, integration of advanced technologies, regulatory compliance, and the expansion of industrial infrastructure.

Aerospace industry segment to exhibit highest CAGR in the forecast year.

As the need for both commercial and defense aircraft grows, manufacturers are turning to enhanced automation to reach production targets more effectively. Automated systems enhance safety and precision in vital activities such as navigation and propulsion, greatly decreasing human error. Furthermore, automation is critical for cost management, speeding production processes like as assembly and testing, and maximizing the usage of innovative materials such as composites. The use of Al-driven digital twins improves real-time monitoring by increasing reliability and minimizing downtime.

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Asia Pacific is expected to hold the largest market share of the industrial control & factory automation market during the forecast period.

The growth of industrial control & factory automation industry in Asia Pacific can be attributed to rapid industrialization, commercialization of IIoT applications and increasing adoption of industrial robot. Asia Pacific is a manufacturing hub; hence, motor vehicle suppliers, such as Toyota (Japan), Renault-Nissan (Netherlands), and Daimler (Germany), Volkswagen (Germany), and local manufacturers, such as Tata Motors (India) and Hyundai Motors (South Korea), invest heavily in the smart factory market in Asia Pacific. The majority of prominent manufacturers from various industries have relocated their manufacturing operations to Asia Pacific due to the region’s low labor costs and availability of trained workers. Furthermore, governments across the area are encouraging Industry 4.0 and Industrial control & factory automation efforts through laws, incentives, and subsidies. Programs such as Made in China 2025 and make in India are encouraging industries to adopt advanced automation technologies like robotics, AI, and IoT to enhance competitiveness and productivity.

The key companies in the industrial control & factory automation companies include ABB (Switzerland), Emerson Electric Co. (US), General Electric (US), Honeywell International Inc. (US), and Siemens (Germany).

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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InCoax and Tarana accelerate broadband deployment in Cleveland: 47 buildings and 502 apartments connected in just 45 days

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LUND, Sweden, Oct. 22, 2024 /PRNewswire/ — InCoax Networks announces a successful collaboration with Tarana Wireless and DigitalC, leading to the rapid deployment of high-speed broadband in Cleveland, Ohio. This project showcases the potential of InCoax’s MoCA Access technology to meet the growing demand for reliable, high-speed internet – without the cost or complexity of full fiber installations.

Led by DigitalC, a non-profit technology social enterprise dedicated to closing the digital divide, the project sought to deliver affordable, high-speed internet to Cleveland, one of the least connected cities in the U.S. To accomplish this, DigitalC turned to InCoax and Tarana for their cutting-edge technologies. The collaboration enabled fiber-class broadband deployment at a fraction of the time and cost usually associated with fiber installations, demonstrating the scalability and future-proof capabilities of InCoax’s MoCA Access technology and Tarana’s next-generation fixed wireless access (ngFWA) solution, “G1.”

By leveraging MoCA Access and G1, DigitalC successfully connected tenants in these multi-dwelling units (MDUs) by utilizing existing in-building coaxial cabling, and ngFWA links to each individual MDU, significantly reducing the need for new construction and minimizing disruptions to tenants – an essential feature for cost-effective deployment and shorter time to revenue.

“By partnering with InCoax and Tarana, we are delivering the internet experience that Cleveland deserves – one that offers choice and superior connectivity,” said Jose Valdez, Chief Operating Officer of DigitalC. “This project is transformative for the community at Lakeview Terrace, driving growth and opportunity. We are proud to collaborate with the Cuyahoga Metropolitan Housing Authority to remove limits and create winning outcomes for residents.”

With more than 250 operators across 45 U.S. states and 24 countries, Tarana Wireless has revolutionized fixed wireless technology by overcoming industry challenges – such as radio interference or physical obstructions – enabling fiber-class performance in urban environments. Together, InCoax and Tarana are providing a faster way to expand broadband access, driving digital inclusion more cost-effectively.

This collaboration between InCoax, Tarana, and DigitalC exemplifies how innovative technologies can close the digital divide, delivering affordable, high-speed internet to underserved communities.

A case study of the deployment is available here: DigitalC, Tarana & InCoax case study.

To find out more about ngFWA technology, please refer to this demo video.

InCoax Networks’ fixed wireless extension use case brochure can be downloaded here.

Additional company and product information are found on our websites.

InCoax Networks: https://www.incoax.com

Tarana Wireless: https://www.taranawireless.com

DigitalC: https://www.digitalc.org

The information was submitted for publication, through the agency of the contact persons set out below, at 08.30 CEST on October 22, 2024.

For additional information, please contact:

Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73 899 55 52

About InCoax Networks AB

InCoax Networks AB (publ) re-purposes existing property coaxial networks in fiber and fixed wireless access (FWA) extension deployments for Communication Service Providers (CSP) globally. The technology is a high performance, future proof, reliable and cost-effective complement, that reduces installation time and improves take-up rate, to boost digital inclusion and internet access for all.

To keep updated on corporate information, visit incoax.com. Vator Securities AB, tel. +46 8-5800 6599, ca@vatorsec.se, is acting as the company’s Certified Adviser.

About DigitalC

DigitalC’s mission is to deploy a premier, state-of-the-art network that is affordable, reliable, and sustainable to bridge the digital divide – for good. Committed to changing the world one connection at a time, DigitalC offers superior internet, accessible community spaces, and tailored digital skills training to ensure an equitable digital future. By focusing on these core areas, DigitalC aims to create a transformative impact on the community, ensuring that everyone has the opportunity to thrive in the digital age. Learn more at www.digitalc.org

About Tarana

Tarana’s mission is to accelerate the deployment of fast, affordable internet access around the world. Through a decade of R&D and over $400M of investment, the Tarana team has created a unique next generation fixed wireless access (ngFWA) technology instantiated in its first commercial platform, Gigabit 1 (G1). It delivers a game-changing advance in broadband economics in both mainstream and underserved markets, using either licensed or unlicensed spectrum. G1 started production in mid-2021 and has since been embraced by more than 250 service providers in 24 countries. Tarana is headquartered in Milpitas, California, with additional research and development in Pune, India.

Learn more at www.taranawireless.com

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University hospitals in the UK join Homerton Healthcare’s public cloud service from Sectra–enhances collaboration for improved care

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LINKÖPING, Sweden, Oct. 22, 2024 /PRNewswire/ — International medical imaging IT and cybersecurity company Sectra’s (STO: SECT B) SaaS in the cloud, Sectra One Cloud, will be used by Barking, Havering and Redbridge University Hospitals NHS Trust (BHRUT) in the UK as they join Homerton Healthcare’s current cloud solution for medical imaging. By using one unified platform the current cooperation between the hospitals will be enhanced which is anticipated to improve workflow and production at lower cost. Moreover, it will relieve BHRUT’s IT burden and costs for IT as Sectra takes full responsibility for the technology and operation of the system.

Since 2015, BHRUT has been using Sectra’s radiology solution. Operating from King George Hospital in Ilford and Queen’s Hospital in Romford, BHRUT serves the communities of Barking, Dagenham, Havering, and Redbridge in East London and Essex. As a part of the same hospital region as Homerton Healthcare—which adopted Sectra’s cloud service in 2023—BHRUT collaborates continuously with Homerton.

“We cooperate extensively with Homerton to ensure the patients in our region receive timely care, and therefore see huge benefits of further facilitating that collaboration. By having a joint Sectra solution, our radiologists will have immediate access to each other’s images and patient data, which will make it easier for us to collaborate around patient cases,” says David Newey, Interim Chief Digital Transformation Officer at BHRUT.

Sectra will provide BHRUT with a fully managed cloud service and continuously monitor, optimize, and upgrade the solution, as well as provide 24/7 support to ensure a smooth experience over time. This will create a comprehensive system at BHRUT, designed to accommodate potential growth as volumes increase and as potential expansion into other specialties is explored.  

“As Sectra takes responsibility for the operation and maintenance of the system, the resilience of the service we provide to our patients will improve, whilst our maintenance overhead will be reduced,” Newey adds.

The contract for Sectra One Cloud was signed in the second quarter of Sectra’s 2024/2025 fiscal year and BHRUT will initially use the modules for radiology and breast imaging.

“An increasing number of hospitals are transitioning to cloud-based solutions to enhance security and reduce IT burdens. This shift addresses the widespread challenge of shortages in IT staff required to manage hospital systems. Therefore, we are proud to provide BHRUT with a solution that relieves this significant burden. We are looking forward to continuing to support them and to enhance their cooperation with Homerton for improved patient care in the region,” says Jane Rendall, managing director for Sectra UK and Ireland.

Sectra’s enterprise imaging solution provides a unified strategy for all imaging needs while lowering operational costs. The scalable and modular solution, with a VNA at its core, allows healthcare providers to grow from ology to ology and from enterprise to enterprise. Visit Sectra’s website to read more about Sectra and why it’s top-ranked in “Best in KLAS”.

About Sectra

Sectra contributes to a healthier and safer society by assisting health systems throughout the world to enhance the efficiency of care, and authorities and defense forces in Europe to protect society’s most sensitive information. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2023/2024 fiscal year totaled SEK 2,964 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra’s website.

For further information, please contact: 
Dr. Torbjörn Kronander, CEO and President Sectra  AB, 46 (0) 705 23 52 27
Marie Ekström Trägårdh, Executive Vice President Sectra AB and President Sectra Imaging IT Solutions, 46 (0)708 23 56 10

This information was brought to you by Cision http://news.cision.com.

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Viewpoint with Dennis Quaid Partners with Diversys Software, Inc. for an Upcoming Episode Focused on Solutions in Waste Management

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The program will educate on an important sector…

MIAMI, Oct. 22, 2024 /PRNewswire-PRWeb/ — Viewpoint, the acclaimed educational television series hosted by Dennis Quaid, is excited to announce a collaboration with Diversys Software, Inc. for a new segment that will explore the transformative impact of trustworthy data in the waste management industry.

By showcasing how technology can address these critical issues, the segment aims to empower industry leaders to embrace digital transformation and harness these tools for both business and environmental benefits.

This episode, scheduled to film on October 30, will bring together thought leaders and digital experts to explore the pivotal role of digital solutions in holding organizations to higher standards in waste management, tackling some of the most significant contributors to today’s sustainability challenges.

The waste management industry faces a unique set of compliance and regulatory hurdles, with stringent environmental laws and operational standards that vary significantly across regions. To stay compliant while maintaining efficiency, companies must navigate intricate processes related to sorting, disposal, transportation, and waste reduction. This upcoming episode will shed light on how innovative platforms, like those developed by Diversys Software, Inc., are helping companies streamline these multifaceted operations, reduce costs, and ultimately contribute to a more sustainable future.

Roger Barlow, CEO of Diversys, expressed his appreciation for the opportunity to partner on this important documentary series. “It’s an honor to be featured by Viewpoint and to work with Mr. Quaid’s team in highlighting the critical role that trust, transparency, and accurate data play in the recycling management industry. This collaboration allows us to showcase the importance of accountability as we collectively strive for a more sustainable future.”

The episode will delve into key areas where Diversys is making a difference, such as:

    Operational Efficiency

Real-time data tracking, automated reporting, and improved workflows that reduce costs, enhance resource recovery, so that organizations can make better, more informed decisions about how to effectively manage their waste, while saving money.

    Regulatory Compliance & Transparency

Ensures authoritative bodies are provided with accurate, timely information so that organizations can be held accountable for their impact on the environment.

    Sustainability & Circular Economy

Supports sustainability by delivering data-driven insights to improve recycling rates, reduce landfill waste, helping users maximize their impact and drive a circular economy.

By showcasing how technology can address these critical issues, the segment aims to empower industry leaders to embrace digital transformation and harness these tools for both business and environmental benefits.

The new episode will move into post-production later this year and will be distributed nationally once completed.

About Viewpoint with Dennis Quaid:

Viewpoint is an award-winning educational series that highlights innovations and important issues impacting today’s world. Hosted by veteran actor Dennis Quaid, the show works with industry leaders and experts to provide insights and educate viewers on trends shaping various sectors.

About Diversys Software, Inc.:

Diversys Software Inc. leads the digital transformation of waste and recycling management across North America with a user-friendly, ready-to-deploy software. Their cloud-based system enables real-time, precise data capture, helping organizations comply with evolving sustainability frameworks like Extended Producer Responsibility (EPR). Diversys is committed to fostering a circular economy through innovative and efficient recycling solutions.

Media Contact

Development Division, Viewpoint with host Dennis Quaid, 561-244-7620, info@viewpointproject.com, www.viewpointproject.com

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