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The factory automation and industrial controls market share in Italy is expected to increase by USD 1.92 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.97%.
This factory automation and industrial controls market in Italy research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers factory automation and industrial controls market in Italy segmentation by product (industrial control systems and field devices) and end-user (general industry, automotive, consumer goods, and others). The factory automation and industrial controls market in Italy report also offers information on several market vendors, including ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. among others.
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The need for simplification of complex manufacturing activities is notably driving the factory automation and industrial controls market growth in Italy, although factors such as lack of effective interoperability may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the factory automation and industrial controls industry in Italy. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Factory Automation and Industrial Controls Market Driver in Italy
The need for simplification of complex manufacturing activities is one of the key drivers supporting factory automation and industrial controls market growth in Italy. As the industrial processes have undergone significant changes over time, maintaining plant assets has been the major focus for industrial operators. The production process has become more complex, owing to the creation of different products with customized characteristics due to cyclic demand. The closely interrelated relationship between production equipment, inventory, and support systems in various plants has created a complex process environment. The complexity of managing and monitoring these assets has become even more complex in remote locations, where it is difficult for operators to work, owing to hostile working conditions. A high exposure to risks, which gives rise to the need for the real-time monitoring of environmental forces and climatic conditions are some of the major difficulties faced by operators in remote locations. Such factors are expected to drive market growth during the forecast period.
Key Factory Automation and Industrial Controls Market Trend in Italy
Virtualization of automation control systems is another factor supporting the factory automation and industrial controls market growth in Italy. Virtualization can be applied to communication layers in industrial premises, such as a server, storage, desktop, file, and network. This provides benefits such as optimum resource utilization and ensures smooth operations as well as cost-savings in power consumption. As most of the physical servers are designed to run only one operating system and application at a time, it limits the performance of the server. Thus, the server is not used most of the time fully. Though the penetration of virtualization in industrial premises is low at present, increasing awareness about virtual software and the flexibility achieved by using automation software is expected to increase the demand for the market in Italy during the forecast period.
Key Factory Automation and Industrial Controls Market Challenge in Italy
The lack of effective interoperability is hindering the factory automation and industrial controls market growth in Italy. In industries such as oil and gas, power, and chemicals and petrochemicals the integration of industrial control systems becomes even more difficult as most of these systems depend on legacy systems. Also, replacing legacy systems can become very cost-intensive. Interoperability issues make it difficult for automation vendors to provide upgrades to the software, as this upgrade not only affects the performance of their systems but, at times, field instruments also do not respond to the software's instructions. Therefore, these factors are expected to limit the growth of the market in focus during the forecast period.
This factory automation and industrial controls market in Italy analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the factory automation and industrial controls market in Italy as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the factory automation and industrial controls market in Italy during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the factory automation and industrial controls market in Italy encompasses successful business strategies deployed by the key vendors. The factory automation and industrial controls market in Italy is fragmented and the vendors are deploying growth strategies such as focusing on new product launches to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The factory automation and industrial controls market in Italy forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the factory automation and industrial controls market in Italy, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the electrical components and equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The factory automation and industrial controls market share growth in Italy by the industrial control systems segment will be significant during the forecast period. Industrial control systems help end-user industries optimize their operations through the efficient control of various processes without the need for human intervention. The rising need to monitor and control entire manufacturing operations is accelerating the demand for it. Also, factors such as the increase in focus on reducing the overall downtime and streamlining operational processes are driving the demand for sensors, which is propelling the need for industrial control solutions in industrial premises during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the factory automation and industrial controls market size in Italy and actionable market insights on post COVID-19 impact on each segment.
Factory Automation Platform as a Service market - The market share is expected to increase by USD 2.92 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 20%.
Industrial Automation Control market - The market is projected to grow by USD 25.14 billion with a CAGR of 5%, during the forecast period 2020 to 2025.
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Factory Automation and Industrial Controls Market Scope in Italy |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.97% |
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Market growth 2022-2026 |
$ 1.92 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.39 |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Vendor Landscape
Vendor Analysis
Appendix
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