South America Factory Automation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware and Software), Hardware (Sensors, Controllers, Robots, Drives, and Others), Type (Programmable Automation, Fixed Automation, and Flex

South America Factory Automation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware and Software), Hardware (Sensors, Controllers, Robots, Drives, and Others), Type (Programmable Automation, Fixed Automation, and Flexible Automation), Technology (Programmable Logic Controller (PLC), Distributed Control System (DCS), Supervisory Control and Data Acquisition System (SCADA), Human Machine Interface (HMI), and Others), and Industry Vertical (Automotive, Food and Beverage, Oil and Gas, Manufacturing, Mining, and Others)   

The factory automation market in SAM is expected to grow from US$ 3,851.75 million in 2022 to US$ 4,978.96 million by 2028. It is estimated to grow at a CAGR of 4.4% from 2022 to 2028.

Increase in the number of product launches

The continuously growing demand for factory automation has compelled the market players to raise investments in developing new and innovative products and software offerings. A few of the major product developments have taken place in recent years. For instance, in September 2022, Fanuc Corporation announced the launch of new FANUC SCARA robots for food and cleanroom applications. The FANUC SR-3iA/C and SR-6iA/C are fast and precise SCARA robots making them ideal for use in food plants and clean rooms. The robots also consist of white epoxy coating for extra durability and IP54 protection guarding against the ingress of contamination from dust and water spray. Similarly, in August 2022, Rockwell Automation, Inc. announced the enhancement in the compact PowerFlex Drive. The PowerFlex 6000T drive can accept up to 13.8 kV primary voltage, which is nearly twice the input voltage. Its real-time operational intelligence can monitor system performance, save energy with economizer mode, deliver faster commissioning with adaptive control, and reduce downtime and repair costs with predictive maintenance alerts. Such advancements in factory automation solutions, supported by high investments by manufacturers to enhance their product portfolio and innovate products as per customer changing requirements, are expected to contribute to the growth of the factory automation market during the forecast period. In addition, new product launches will help end-user industries such as automotive, food & beverages, oil & gas, and mining improve production time.

Market Overview

Based on country, the South American factory automation market is segmented into Brazil, Argentina, and the Rest of South America. South American countries have been slow adopters of technologies. Among all countries in South America, Brazil is estimated to be the most significant contributor to the revenue of the South American factory automation market during the forecast period. The market growth can largely be attributed to growth in the manufacturing industry in this country. Brazilian business leaders are deploying Industry 4.0 technology for all sizes of organizations. The growing awareness regarding digitization is prompting the development of new business models, income streams, and operational processes. For instance, in March 2021, Accenture acquired Pollux, a Brazilian company that specializes in industrial robotics and automation systems, to strengthen its digital manufacturing, operations, and supply chain. The firm's services are used by more than 1000 companies in the manufacturing sector.

Factory Automation Market Revenue and Forecast to 2028 (US$ Million)

SAM Factory Automation Market Segmentation

The SAM factory automation market is segmented into component, hardware, type, technology, industry vertical and country. Based on component, the market is bifurcated into hardware and software. The hardware segment registered a larger market share in 2022.

Based on hardware, the SAM factory automation market is segmented into sensors, controllers, robots, drives, and other hardware components. The robots segment registered the largest market share in 2022. Based on type, the SAM factory automation market is segmented into programmable automation, fixed automation, and flexible automation. The fixed automation segment registered the largest market share in 2022. Based on technology, the SAM factory automation market is segmented into programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition (SCADA), Human-Machine Interface (HMI), and others. The supervisory control and data acquisition system (SCADA) segment registered the largest market share in 2022. Based on industry vertical, the SAM factory automation market is segmented into automotive, food and beverages, oil and gas, manufacturing, mining, and others. The manufacturing segment registered the largest market share in 2022. Based on country, the market is segmented into Brazil, Argentina, and the Rest of SAM. Brazil dominated the market share in 2022.

ABB Ltd; Bosch Rexroth AG; Emerson Electric Co.; Fanuc Corporation; General Electric Company; Honeywell International Inc.; Mitsubishi Electric Corporation; OMRON Corporation; Rockwell Automation, Inc.; and Siemens AG are the leading companies operating in the factory automation market in the region.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America coconut candy market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the North America coconut candy market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the coconut candy market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution