South Korea Factory Automation & Industrial Controls Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.56 Billion |
| Market Size (2029) | USD 11.77 Billion |
| CAGR (2024 - 2029) | 6.58 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Factory Automation & Industrial Controls Market Analysis
The South Korea Factory Automation and Industrial Controls Market size is estimated at USD 8.56 billion in 2024, and is expected to reach USD 11.77 billion by 2029, growing at a CAGR of 6.58% during the forecast period (2024-2029).
Due to the rising demand for PLC, SCADA, and industrial robots across various end-user sectors, the market is expanding.
The numbers for the South Korean FAICS market are derived by evaluating contributions of various product types, such as presence sensing safety sensors, emergency stop devices, safety controllers/modules, safety mats, programmable logic controllers (PLC), human-machine interface (HMI), machine vision systems, industrial robotics, sensors and transmitters, switches, relays, and industrial power supplies.
Automation of manufacturing processes has various benefits, such as effortless monitoring, waste reduction, and production speed. This technology provides customers with improved quality with standardization and dependable products in less time and cost.
Moreover, the introduction of always-on-e-commerce fueled the demand for faster responses and the need to manage a more significant number of stock-keeping units (SKUs) with fewer errors; warehouses and fulfillment centers need to scale up and meet standards of a smart, efficient, and automated factory solutions.
Furthermore, huge capital is required to set up and install industrial robots in the factory. The average cost of a fixed robot ranges between USD 60,000-140,000, whereas the average cost of a mobile robot varies between USD 25,000-40,000. These high costs discourage factory operators from choosing high-end industrial robots, which challenges the market's growth.
The COVID-19 pandemic complicated the situation of automation adoption in various sectors. It changed the standard operating procedure by bringing in unique challenges of social distancing and contactless operation. Organizations were forced to limit their workforce and deal with the increasing demand. Social distancing measures had a more significant impact as they led manufacturers to restructure operations to rely more on robotics in the region. Overall, the COVID-19 pandemic slowed down the market but improved and steadily expanded in the post-pandemic era.
South Korea Factory Automation & Industrial Controls Market Trends
This section covers the major market trends shaping the South Korea Factory Automation & Industrial Controls Market according to our research experts:
Increasing Adoption of Internet of Things (IoT) and Machine-to-Machine Technologies to Drive the Market
- Data generated from IoT helps businesses understand and utilize patterns incorporated into the decision-making cycle to enhance product design and development. Data management strategies allow companies to detect errors quickly, analyze performance, and access metrics. These offer insights into product use that help spot development areas and improve existing product versions.
- Moreover, data management helps streamline and increase the effectiveness of operations in IoT-adopted infrastructure. While operating parts of a system, devices may deviate from established behavior patterns. Data management techniques help recognize deviations and alert the automation process handling team.
- According to a study by Korea Herald, South Korea's internet-of-things (IoT) device subscriptions hit over 10 million due to the growing use of automation and remote control services. According to the Ministry of Science and ICT data, the number of mobile connections to such devices stood at 10.05 million, up around 2 million from the previous year. Additionally, in 2021, there was approximately 1,335 Internet of Things service businesses in South Korea. This growing number of IoT subscriptions indicates a market boost in the region.
- Furthermore, several global acquisitions are directly driving the market's growth. For instance, during the pandemic, Emerson announced the acquisition of the ProgeaGroup, a provider of the Industrial Internet of Things (IIoT), plant analytics, human-machine interface (HMI), and supervisory control technologies. The activity justified offering solutions that increasingly optimize end-user energy and operating costs.
Food and Beverage Sector to Register Fastest Growth
- Food and beverage companies increasingly use automated machine safety systems to reduce occupational injuries and improve production flexibility. Machine safety aids in increasing operational transparency across production lines and guaranteeing regulatory compliance.
- The food and beverage business aspires to produce high-quality, consistent goods cheaply. This is accomplished by executing an integrated approach of automated safety control systems, such as machine safety solutions, to make food and beverage operations more flexible, safer, and lucrative.
- Various firms are engaged in automation and providing machine safety solutions that are correctly planned and implemented to boost productivity and profitability in the food and beverage industry. For instance, Rockwell Automation released the "iTRAK5730," an automated track system. This solution is specifically intended to respond to trends and assist in enhanced throughput in food and beverage businesses, which are continually under pressure to package an enormous variety of products in more forms of packaging without compromising productivity and safety.
- For instance, in January 2021, MFDS introduced the automatic labeling system "Food Label Bot." This system is designed to assist enterprises in producing food labels efficiently. After entering the essential information, the system may provide an example of the food label.
South Korea Factory Automation & Industrial Controls Industry Overview
The South Korean factory automation and industrial controls market is highly competitive, with the presence of a few globally operating companies, like Denso Korea Corporation, ABB Korea Co. Ltd, Epson Korea Co. Ltd, Fuji Electric FA Korea Co. Ltd, Emerson Electric Korea Ltd. These companies have continuously invested in strategic partnerships and product developments to gain market share.
In August 2022, Yokogawa Electric Corporation announced the release of the OpreXTM IT/OT Security Operations Center (IT/OT SOC) service. This new addition to the OpreX safety and security family is a centrally managed service based on people (service organization), processes, and technology. Targeted primarily at industrial enterprises, Yokogawa developed this service to improve the security of IT and OT networks by detecting, analyzing, and enabling a quick and effective response to cybersecurity incidents from anywhere in the world.
In May 2022, OMRON Corporation announced the release of a new high-voltage DC relay, "G9KB," for global high-capacity household electricity storage systems. G9KB safely cuts off the current in household storage systems that have been increasing in capacity. Moreover, G9KB could play a role in encouraging renewable energy by downsizing products.
South Korea Factory Automation & Industrial Controls Market Leaders
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Denso Korea Corporation
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ABB Korea Co. Ltd
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Epson Korea Co. Ltd
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Fuji Electric FA Korea Co. Ltd
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Emerson Electric Korea Ltd
*Disclaimer: Major Players sorted in no particular order
South Korea Factory Automation & Industrial Controls Market News
In June 2022, Robotics startup Nau Robotics Co. Ltd, which specializes in industrial robots, unveiled a new multi-joint take-out robot for plastic injection, 'NURO X,' at the 'International Packaging Equipment Exhibition 2022 held at KINTEX, Gyeonggi-do. Nau Robotics drew visitors' attention by demonstrating the operation of the articulated robot NURO X in conjunction with the LS Mtron injection machine.
In March 2022, Seoul Robotics launched an infrastructure-based version of its patented SENSR 3D perception software. The new SENSR-I software processes data captured by stationary 3D sensors in large spaces to provide high-resolution environmental insight. The solution is an extension of the SENSR software for autonomous vehicles and autonomous mobile robot (AMR) vehicles.
South Korea Factory Automation & Industrial Controls Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porters Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat Of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Adoption of Internet of Things (IoT) and Machine-to-Machine Technologies
5.1.2 Increasing Emphasis on Energy Efficiency and Cost Reduction
5.1.3 Exponential Growth of the E-commerce Industry and Customer Expectations
5.2 Market Restraints
5.2.1 High Up-front Installation Costs and Interoperability Issues
5.2.2 Unavailability for Skilled Workforce
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Presence Sensing Safety Sensors
6.1.2 Emergency Stop Devices
6.1.3 Safety Controllers/Modules
6.1.4 Safety Mats
6.1.5 Programmable Logic Controllers (PLC)
6.1.6 Human Machine Interface (HMI)
6.1.7 Machine Vision Systems
6.1.8 Industrial Robotics
6.1.9 Sensors and Transmitters
6.1.10 Switches
6.1.10.1 Safety Switches
6.1.10.2 Limit Switches
6.1.10.3 Pushbutton Switches
6.1.10.4 DIP Switches
6.1.11 Relays
6.1.12 Industrial Power Supplies
6.2 By End-user
6.2.1 Automotive
6.2.2 Semiconductor
6.2.3 Manufacturing
6.2.4 Oil and Gas
6.2.5 Chemical and Petrochemical
6.2.6 Food and Beverage
6.2.7 Power and Utilities
6.2.8 Other End-users
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ABB Korea Co. Ltd
7.1.2 Denso Korea Corporation
7.1.3 Emerson Electric Korea Ltd
7.1.4 Epson Korea Co. Ltd
7.1.5 Fuji Electric FA Korea Co. Ltd
7.1.6 Honeywell Korea Ltd
7.1.7 Kawasaki Robotics
7.1.8 Korea Fanuc Corporation
7.1.9 Kuka Robotics Korea Co. Ltd
7.1.10 Mitsubishi Electric Automation Korea Co. Ltd
7.1.11 Nidec Corporation
7.1.12 Omron Electronics Korea Co. Ltd
7.1.13 Panasonic Industrial Devices Sales Korea Co. Ltd
7.1.14 Rockwell Automation Inc.
7.1.15 Schneider Electric
7.1.16 Siemens Korea
7.1.17 Staubli International AG
7.1.18 Universal Robots AS (Teradyne Inc.)
7.1.19 Yaskawa Electric Corporation
7.1.20 Yokogawa Electric Korea Co. Ltd
- *List Not Exhaustive
8. LIST OF KEY DISTRIBUTORS & SUPPLIERS
9. MARKET OUTLOOK
South Korea Factory Automation & Industrial Controls Industry Segmentation
Industrial control and factory automation are rising trends in the manufacturing industry, which provide smart manufacturing infrastructure. Industrial control and factory automation facilitate cost efficiency, product quality, standardized manufacturing, reliability, and flexibility in manufacturing.
The South Korean automation industry was revolutionized by combining the digital and physical aspects of manufacturing to deliver optimum performance. Furthermore, the focus on achieving zero waste production and a shorter time to market augmented the market's growth. The market defines revenues generated from selling and installing different factory automation and industrial control systems products in the region.
The market size was derived for the South Korean FAICS market by evaluating contributions of various product types, such as presence sensing safety sensors, emergency stop devices, safety controllers/modules, safety mats, programmable logic controllers (PLC), human-machine interface (HMI), machine vision systems, industrial robotics, sensors and transmitters, switches, relays, and industrial power supplies. The South Korean FAICS market also covers various end-user industries in the region, such as automotive, semiconductor, manufacturing, oil and gas, chemical and petrochemical, food and beverage, and power and utilities. The market sizes and forecasts regarding value (USD million) for all the above segments are provided.
| By Product Type | ||||||
| Presence Sensing Safety Sensors | ||||||
| Emergency Stop Devices | ||||||
| Safety Controllers/Modules | ||||||
| Safety Mats | ||||||
| Programmable Logic Controllers (PLC) | ||||||
| Human Machine Interface (HMI) | ||||||
| Machine Vision Systems | ||||||
| Industrial Robotics | ||||||
| Sensors and Transmitters | ||||||
| ||||||
| Relays | ||||||
| Industrial Power Supplies |
| By End-user | |
| Automotive | |
| Semiconductor | |
| Manufacturing | |
| Oil and Gas | |
| Chemical and Petrochemical | |
| Food and Beverage | |
| Power and Utilities | |
| Other End-users |
South Korea Factory Automation & Industrial Controls Market Research FAQs
How big is the South Korea Factory Automation and Industrial Controls Market?
The South Korea Factory Automation and Industrial Controls Market size is expected to reach USD 8.56 billion in 2024 and grow at a CAGR of 6.58% to reach USD 11.77 billion by 2029.
What is the current South Korea Factory Automation and Industrial Controls Market size?
In 2024, the South Korea Factory Automation and Industrial Controls Market size is expected to reach USD 8.56 billion.
Who are the key players in South Korea Factory Automation and Industrial Controls Market?
Denso Korea Corporation, ABB Korea Co. Ltd, Epson Korea Co. Ltd, Fuji Electric FA Korea Co. Ltd and Emerson Electric Korea Ltd are the major companies operating in the South Korea Factory Automation and Industrial Controls Market.
What years does this South Korea Factory Automation and Industrial Controls Market cover, and what was the market size in 2023?
In 2023, the South Korea Factory Automation and Industrial Controls Market size was estimated at USD 8.03 billion. The report covers the South Korea Factory Automation and Industrial Controls Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Factory Automation and Industrial Controls Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Factory Automation and Industrial Control in South Korea Industry Report
Statistics for the 2024 Factory Automation and Industrial Control in South Korea market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Factory Automation and Industrial Control in South Korea analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Factory Automation and Industrial Control Market in South Korea Report Snapshots
- Factory Automation and Industrial Control Market in South Korea Market Size
- Factory Automation and Industrial Control Market in South Korea Market Share
- Factory Automation and Industrial Control Market in South Korea Market Trends
- Factory Automation and Industrial Control Market in South Korea Companies
