Market Size of MEA Factory Automation and Industrial Controls Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Factory Automation & Industrial Controls Market Analysis
The Middle East and Africa Factory Automation and Industrial Controls Market is expected to register a CAGR of approximately 6.8% during the forecast period (2021 - 2026). The COVID-19 pandemic and lockdown restrictions across the region have affected industrial activities including disruption of supply chain. However, the pandemic has forced manufacturing industries to re-evaluate their traditional production processes and adapt to smart manufacturing practices across the production lines.
- Following the global economic recession led by COVID-19, the Middle Eastern and African factory automation and industrial control system market has witnessed positive impact from the demand side and mixed impact from the supply side in the first half of 2020. Smart factory initiatives have helped manufacturers overcome COVID-19 challenges and address issues such as workforce reductions, drops in sales for some specific products, social distancing, and extreme pressure to cut operational costs since most enterprises operating in the end-user industries (majorly manufacturing, automotive) had shuttered down their production sites due to lockdown restrictions.
- The GCC is eyeing a new manufacturing era based on modern industrial society. The increasing active collaborations between government, regulators, and organizations for economic development is one of the major factors driving growth in the region's automation and manufacturing sectors.
- The market in these countries is majorly driven by increasing investments in the oil and gas industry. The progress in the oil and gas sector is translating into other industries and notably energy solutions. For instance, in October 2019, the Nigerian government partnered with the Government of Norway to work out measures that will help in the expansion of Nigeria's power sector.
- Saudi Arabia initiated USD 7 billion of renewable energy projects in 2018, with solar plants being the frontrunner. It is part of its plan to install 9.5 gigawatts of solar and wind capacity by 2023. such infrastructural developments are likely to provide for industrial controls and factory automation solutions.
