Global Industrial Controls and Factory Automation Market is expected to reach $155 billion by 2021

MADISON, N.J. - Nov. 24, 2016 - PRLog -- The global industrial control and factory automation market are expected to grow from $112.6 billion in 2015 to $118.5 billion in 2016 at a year-on-year (YOY) growth rate of 5.2%. In addition, the market is expected to grow at a five-year CAGR (2016 to 2021) of 5.4%, to reach $155.3 billion in 2021. The mentioned increasing trend is penetrating across society and the global economy. Industries like Aerospace & Defense, Transportation, Electrical & Electronics, Manufacturing, Food & Beverages, Oil & Gas, Pharmaceuticals, Chemicals and Water management have all focused toward complete automation.

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Ceskaa's projection for global industrial control and factory automation market has been witnessing growth, as the organization of resources and people is moving away from traditional systems toward integrated networks, which include both automated software and hardware elements. The elements utilized in multiple components has shown the potential to boost the growth of global industrial control and factory automation market.

In many situations, increased reliance on control and automation sources, including DCS, HMI, MES, PLC, PLM and SCADA technologies, will serve as a key component toward reaching climate change, energy security and environmental goals of political entities across the globe.

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