Factory automation and industrial controls market in Italy to grow by USD 1.92 billion between 2021 and 2026; Growth driven by need for simplification of complex manufacturing activities - Technavio

NEW YORK, March 29, 2023 /PRNewswire/ -- The factory automation and industrial controls market in Italy is estimated to grow by USD 1.92 billion between 2021 and 2026, progressing at a CAGR of 6.97% during the forecast period, according to Technavio. The market is driven by the need for simplification of complex manufacturing activities. The growing demand for various end-use products with customized characteristics has made the manufacturing process more complex. This has created the need for suitable tools and mechanisms to make the manufacturing process simpler. Industrial control systems such as SCADA, DCS, and PLCs help in the simplification of various several complex processes, operations, and systems in industrial plants. With growing complexities in the manufacturing process, the demand for these technologies is increasing among industrial operators. All these factors are driving the growth of the market in focus. For more insights on the market size (2022 to 2026) - Request a sample report

Factory Automation and Industrial Controls Market in Italy 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our factory automation and industrial controls market in Italy report covers the following areas:

• Factory Automation and Industrial Controls Market Size
• Factory Automation and Industrial Controls Market Trends
• Factory Automation and Industrial Controls Market Analysis

Factory Automation and Industrial Controls Market in Italy 2022-2026: Segmentation

The factory automation and industrial controls market in Italy is segmented as below:

• Product 
• Industrial Control Systems
• Field Devices

The market growth will be significant in the industrial control systems segment during the forecast period. The growing need for controlling and monitoring entire manufacturing operations is increasing the demand for industrial control systems. The segment is also driven by the increase in focus on reducing the overall downtime and streamlining operational processes and the growing need to reduce overall operational expenses in factories.

• End-user 
• General Industry
• Automotive
• Consumer Goods
• Others

The general industry is the major end-user segment in the market. The segment will account for a significant share of the market during the forecast period.

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Factory Automation and Industrial Controls Market in Italy 2022-2026: Major Challenge

The lack of effective interoperability is identified as the major challenge affecting the growth of the market. Modern industrial systems are becoming more complex with the deployment of multiple devices and systems with different configurations. Hence, end-users face interoperability issues if the interface is not able to support the configurations of the latest factory automation systems. The deployment of factory automation and industrial control systems is more difficult in industries such as oil and gas, power, chemicals and petrochemicals, and water and wastewater as most of these end-users depend on legacy systems. Also, replacing legacy systems with industrial automation systems is very cost intensive. Such challenges are hindering the growth of the market.

Factory Automation and Industrial Controls Market in Italy 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the factory automation and industrial controls market in Italy. Backed with competitive intelligence and benchmarking, our research report on the factory automation and industrial controls market in Italy is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

The factory automation and industrial controls market in Italy is fragmented. The market comprises both well-established international vendors and regional vendors. Regional vendors are increasingly venturing into the factory automation and industrial controls market in Italy. These vendors offer customized solutions with additional services to cater to end-user requirements. Acquisitions and value chain consolidations made the threat of rivalry moderate in the market during 2021, and it is expected to remain moderate during the forecast period. Some of the key vendors covered in the report include:

• ABB Ltd. - The company offers factory automation and industrial products under the brand name ABB ability.
• Emerson Electric Co. - The company offers industrial automation and controls which combine with edge analytics, enabling to harness the power of Industry 4.0.
• Honeywell International Inc. - The company offers industrial and automation controls which is more efficient, safer, and smarter.
• Mitsubishi Electric Corp. - The company offers a wide range of automation and processing technologies, including controllers, drive products, power distribution, and control products.

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Factory Automation and Industrial Controls Market in Italy 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist factory automation and industrial controls market growth in Italy during the next five years
• Estimation of the factory automation and industrial controls market size in Italy and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the factory automation and industrial controls market in Italy
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of factory automation and industrial controls market vendors in Italy

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Related Reports:

• The process automation and instrumentation market is projected to grow by USD 28.57 billion with a CAGR of 5.75% during the forecast period 2021 to 2026. The market is segmented by type (process automation and process instrumentation) and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
• The industrial automation market size is expected to increase by USD 60.15 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.93%. The market is segmented by product (SCADA, PLC, DCS, drives, and sensors), end-user (process industry and discrete industry), and geography (APAC, North America, Europe, South America, and MEA).

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Table of contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Industrial control systems - Market size and forecast 2021-2026
• Field devices - Market size and forecast 2021-2026
• Market opportunity by Product

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• General industry - Market size and forecast 2021-2026
• Automotive - Market size and forecast 2021-2026
• Consumer goods - Market size and forecast 2021-2026
• Others - Market size and forecast 2021-2026
• Market opportunity by End-user
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Emerson Electric Co.
• Honeywell International Inc.
• Mitsubishi Electric Corp.
• OMRON Corp.
• Robert Bosch GmbH
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Yokogawa Electric Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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