NEWS COMMENTARY

Mitsubishi Electric acquires Iconics – another indication of the rise in factory automation this year

Published:
May 20, 2019
Coverage:
Digital Transformation More...
Activities:
Acquisition
Very important

Mitsubishi Electric will leverage expertise in software to enhance edge computing solutions in its e-F@ctory with the acquisition of Iconics (Lux Take: Strong Positive). Despite automation suppliers' sluggish revenue in 2018, VC firms have invested $3 billion in factory automation since the start of 2019. Mitsubishi Electric's acquisition, along with other activities like Rockwell Automation's partnerships with five companies and Yaskawa's new robot factory to serve the EMEA region, suggests that factory automation is on the rise. In addition, companies like Google, Boston Dynamics, and Covariant.ai are also trying to enter the space. Clients should expect to see increased activity in factory automation from both existing and new players.

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