Global Industrial Automation Market

Global Industrial Automation Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Industry(Discrete Automation, Process Automation) - Industry Forecast 2023-2030


Report ID: SQMIG45D2047 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 61 | Figures: 75

Global Industrial Automation Market Insights

Global Industrial Automation Market size was valued at USD 177.57 billion in 2021 and is poised to grow from USD 407.268 billion in 2022 to USD 441.7 billion by 2030, growing at a CAGR of 8.84% in the forecast period (2023-2030).

Industrial automation market is primarily driven by increasing need for real-time data analysis across geographies and the increasing use of cutting-edge technology across end-use sectors to boost performance. In addition to this, growing need for proactive maintenance and real-time data analysis, which would give firms better visibility into their manufacturing facilities and hence increase productivity is adding fuel to the industrial automation market. It is further supported by increased focus on asset management and predictive maintenance solutions, which would give users more visibility into the state of

Governments in Europe, the Middle East, and Africa are concentrating on the development of discrete and process industries by undertaking various initiatives and plans backed by investments to improve productivity in order to meet the rising demand and changing consumption patterns brought on by the growing population. The use of various industrial automation and communication components and technologies is encouraged by these actions done by governments of various nations for the structural growth of industries.

The industrial automation market's value chain and demand have both been profoundly influenced by the COVID-19 epidemic. In the nations that are most adversely affected by the pandemic's spread, the demand for industrial automation solutions has decreased. Due to the negative consequences of the pandemic, many industrial and infrastructure projects were suspended or delayed in a number of countries. This had an impact on the demand for industrial automation market. The Middle East and Africa's industrial automation market was dominated by nations including Bahrain, Egypt, Qatar, Saudi Arabia, Nigeria, and South Africa; however, the pandemic's negative effects caused the year-over-year growth to slow in 2020.

However, the processed food sector and the end-use market for pharmaceuticals both noticeably increased demand during this time. Consequently, the pharmaceuticals and processed food industries made a strong recovery and started recovering at a higher pace after a period of 2 to 3 months of decrease following the beginning of the unique pandemic. Due to these increasing needs, the pharmaceuticals and processed food industries are experiencing a sharp increase in demand for industrial automation solutions and components.

US Industrial Automation Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 177.57 billion

Largest Segment

Discrete Automation

Fastest Growth

Discrete Automation

Growth Rate

8.84% CAGR

Global Industrial Automation Market, 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
Global Industrial Automation Market By Industry, 2021-2028 ($ Bn)
Global Industrial Automation Market By Industry, 2021-2028 (%)

To get more reports on the above market click here to Buy The Report

Global Industrial Automation Market Segmental Analysis

Global industrial automation market is segmented based on component, industry and region. Based on the component, the Industrial Automation Market is segmented into hardware and software. Based on the Industry, the Industrial Automation Market is segmented discrete automation and process automation. Based on Region, Industrial Automation Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Industrial Automation Market Analysis by Component

By component, the global industrial automation market is divided into hardware and software. During the projection period, software segment is likely to hold a significant market share. Human-machine interface (HMI), manufacturing operations management (MOM), supervisory control, and data acquisition software are all types of automation software (SCADA).

IoT's rising need for sophisticated automation processes in the sectors is expected to cause the hardware segment to rise quickly during the forecast period. The hardware part consists of sensors, robots, safety light curtains, servos, laser markers, Programmable Logic Controllers (PLC), and Human-Machine Interfaces (HMI). Servo is predicted to have a sizable market share, followed by hardware sensors. Robotics are expected to increase at an impressive rate. Participants in the global industrial automation market are adopting sophisticated robots for automation purposes as a result of technological breakthroughs and the emergence of Industry 4.0. For instance, the i4series SCARA robot, which automates high-precision, high-speed assembly and transportation activities, was introduced by Omron Corporation in January 2021. In a similar vein, Mitsubishi Electric Corporation introduced Melfa Assista, a line of collaborative robots, in May 2020.

Industrial Automation Market Analysis by Industry

By industry, the global industrial automation market is segmented into discrete automation and process automation. During the projection period, the discrete automation sector is anticipated to dominate the market. The discrete automation is further divided into several subsectors including automotive, electronics, heavy industries, packaging, and others. The demand for automation solutions is projected to increase significantly in the automotive and heavy manufacturing sectors.

The process automation industry is further divided into the following sub-sectors: mining and metals, pulp and paper, chemicals, oil and gas, healthcare, and others. The mining and metals sector is anticipated to account for a sizable portion of the market, followed by the healthcare, oil & gas, and chemical sectors.

Global Industrial Automation Market By Industry, 2021(%), 2021 (%)

To get detailed analysis on other segments, Request For Sample Report

Global Industrial Automation Market Regional Insights

During the forecast period, Europe is expected to hold a dominant position in the global industrial automation market. According to the International Federation of Robotics (IFR), the highest robot densities worldwide were found in Western Europe (225 units per 10,000 employees) and the Nordic European Countries (204 units per 10,000 employees) in January 2021. With 346 units per 10,000 employees, Germany comes in fourth among the most automated nations in the world. These are a few of the important elements that make up the majority of the region.

During the projection period of 2022-2028, Asia Pacific is expected to exhibit a significant growth rate. The majority of robots and factory automation systems are produced in Japan. The demand for industrial automation in the area is influenced by the presence of robotics and factory automation products and manufacturing firms throughout Japan, including Omron Corp., Yaskawa Electric, Yokogawa Electric, Mitsubishi Electric, and Nidec Corp. A significant supplier of the sensors, batteries, microchips, and other IoT system components is China. Additionally, government programmes like Make in India and MSME encourage small and medium-sized firms in India in using sophisticated manufacturing techniques. It is anticipated that the government's active actions will fuel market expansion in this area.

However, the COVID-19 pandemic has sparked a recession and decreased foreign company investments. Trade conflicts between major economies, such as China, the United States, and India, are anticipated to restrict market expansion. The U.S. owns roughly 20% of Singapore's market share for automation equipment, according to 2019 Singapore Government Trade Figures. Automation technology, which includes things like microelectromechanical systems (MEMS), 3D printing, smart manufacturing, and the Internet of Things (IoT), is crucial to Singapore's long-term economic development. These elements are anticipated to propel market expansion.

Global Industrial Automation Market By Geography, 2021 - 2028, 2023-2030
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Industrial Automation Market Dynamics

Industrial Automation Market Driver

  • Digital Supply Chain Across Industries Has Changed Due to Industry 4.0.

Organizations are compelled to embrace industry 4.0 in the global industrial automation market to meet customers' evolving needs, such as fast and personalised services. The market participants collaborate with tech-savvy businesses to provide novel solutions based on rapidly evolving technologies. For instance, Tech Mahindra Limited and Honeywell International Inc. teamed together in February 2020 to create digital "Factories of the Future" by utilising digital technology. The partnership intends to assist firms to hasten the process of digital transformation. Similar to this, Siemens and SAP SE worked together to provide businesses with industry 4.0-enabled business processes. These procedures in the global industrial automation market will make it possible to create a digital thread that spans the entire product lifecycle. In order to help manufacturers, scale up their growth and achieve the potential of industry 4.0 technologies and solutions, businesses are focused on using 5G, industry 4.0, digital transformation, and software capabilities. In the upcoming years, it is projected that these alliances and collaborations would increase demand for automation solutions across industries.

  • Predictive Maintenance and Real-Time Data Analysis are Becoming More Important

There is fierce competition in the manufacturing sector as a result of rapid development in Europe, the Middle East, and Africa. Manufacturing companies across global industrial automation market, especially in end-user sectors like oil & gas, food & beverage, automotive, and aerospace & military are searching for solutions. This would support real-time data analysis, proactive maintenance, and enable them get better visibility of the manufacturing plant to increase plant efficiency. Real-time access to plant floor data made possible by industrial automation technologies enables enterprises to centralise corporate data and multi-plant operations. This element is estimated to promote the market expansion further. Industrial automation technologies, such as HMI, also assist producers in closely monitoring production processes and quickly adapting to changing production demands in order to increase operational efficiency, reduce unscheduled downtime, and provide improved visibility.

Industrial Automation Market Restraint

  • High Initial Capital Expenditures

Industrial automation processes are cost-effective, but they come at a significant initial capital cost due to the need to adopt new technology and train staff. Due to the fragmented nature of the industrial automation market, the return on investment (ROI) cannot be predicted. Small and medium-sized businesses (SMEs) are reluctant to utilise the benefits of technology because of the high upfront expenses and unpredictable return on investment.

Smart manufacturing tactics and favourable government initiatives, such as the Make in India movement and the Government of India's MSME company financing programme, are likely to overcome this obstacle and soon open up new markets for the solutions.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Industrial Automation Market Competitive Landscape

Players in the global industrial automation market are primarily focusing on innovative robotics and automation applications. To increase their market presence, the players in the industry engage in mergers and acquisitions, partnerships, and collaborations. ABB Ltd., Rockwell Automation, and Honeywell International are some of the major competitors in the industry. They are creating cutting-edge uses for robotics and automation technologies in order to unlock new development possibilities. For instance, ABB Ltd. invests about 5% of its revenue in R&D to broaden its product line with an emphasis on collaborative robotics, digital factory automation, machine-centric robotics, and artificial intelligence.

Similar to that, PTC and Rockwell Automation teamed up in June 2018. In this collaboration, Rockwell Automation gave PTC a $1 billion investment. With this collaboration, the firms aligned their augmented reality (AR), Internet of Things (IoT), industrial connectivity, FactoryTalk MES, FactoryTalk Analytics, and other automation platforms with Vuforia, PTC, and Kepware.

Industrial Automation Market Top Player's Company Profiles

  • Emerson Electric Co.
  • General Electric Company 
  • Honeywell International Inc
  • Siemens AG
  • ABB Ltd.
  • Schneider Electric SE
  • Rockwell Automation Inc.
  • Mitsubishi Electric Corporation
  • Yokogawa Electric Corporation
  • Omron Corporation
  • Bosch Rexroth AG
  • KUKA AG
  • Fanuc Corporation
  • Keyence Corporation
  • Parker Hannifin Corporation
  • Yaskawa Electric Corporation
  • Adept Technology Inc.
  • Festo AG & Co. KG
  • Beckhoff Automation GmbH & Co. KG
  • Danaher Corporation.

Industrial Automation Market Recent Developments

  • In July 2021, Kezzler AS, a cloud-based platform for product digitization and traceability, joined forces with Rockwell Automation Inc. By utilising cloud-based chain technologies, the alliance seeks to give manufacturers the ability to track their product's entire path from the origin of the raw materials to the point of sale or beyond.
  • In July 2021, in order to create a new solution for the services and asset lifecycle management, Siemens AG and SAP SE expanded their relationship. The collaboration intends to link original equipment manufacturers (OEMs) and plant floor operations, product creation through digital twins, and remote condition monitoring to allow collaboration throughout the asset lifespan.
  • In June 2021, Plex Systems, a provider of smart manufacturing solutions, purchased by Rockwell Automation Inc. in June 2021 for USD 2.22 billion. The cloud-native smart manufacturing technology from Plex Systems will be added to the industrial cloud services with this acquisition.

Global Industrial Automation Key Market Trends

  • Increasing the use of digital twins and augmented reality in manufacturing to support market expansion. Organizations can assess possible improvements, identify implementation risk reduction, and grasp feasibility with the use of a digital twin. The adoption and upkeep of digital twins have been easier with the rise of the industrial Internet of Things, which includes cloud-based systems and intelligent sensors. For their commercial operations, organisations use digital twin technology to lower the chance of equipment failure. By simulating the procedure, it also aids in automatically scheduling the repairs. For instance, the German logistics business DHL International GmbH integrated a supply chain solution for Tetra Pak's warehouse in July 2019 utilising a digital twin. Scalable, economical, and agile supply chain operations would be made possible. In order to construct a digital twin, transportation vehicles are equipped with Internet of Things (IoT) technology. It ensures the safe delivery of necessities, such food and beverages, from the farm to the customer. The expanding demand for automation solutions in the next years is to blame for this rising usage of digital twin technologies.
  • The Internet of Things (IoT) is essential for automation because it facilitates the development of efficient, cost-efficient, and responsive system architectures. Solutions for the Industrial Internet of Things (IIoT) include connecting industrial assets, generating transparency fast and simply, and boosting efficiency. The full lifecycle of device management and shop floor software is made simpler by IIoT and edge computing solutions. In order to automate the manufacturing process and improve the customer experience, businesses implement IIoT technologies. IIoT solutions are predicted to be adopted so quickly across industries, which would help the market develop.

Global Industrial Automation Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global industrial automation market analysis, the digital supply chain across industries changed as a result of Industry 4.0., industrial automation technologies such as HMI and growing importance of predictive maintenance and real-time data analysis are some major factors driving the growth of the global Industrial Automation market.

Report Metric Details
Market size value in 2021 USD 177.57 billion
Market size value in 2030 USD 441.7 billion
Growth Rate 8.84%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware, Software
  • Industry
    • Discrete Automation, Process Automation
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Emerson Electric Co.
  • General Electric Company 
  • Honeywell International Inc
  • Siemens AG
  • ABB Ltd.
  • Schneider Electric SE
  • Rockwell Automation Inc.
  • Mitsubishi Electric Corporation
  • Yokogawa Electric Corporation
  • Omron Corporation
  • Bosch Rexroth AG
  • KUKA AG
  • Fanuc Corporation
  • Keyence Corporation
  • Parker Hannifin Corporation
  • Yaskawa Electric Corporation
  • Adept Technology Inc.
  • Festo AG & Co. KG
  • Beckhoff Automation GmbH & Co. KG
  • Danaher Corporation.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Industrial Automation Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Industrial Automation Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Industrial Automation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Automation Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Industrial Automation Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Industrial Automation Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

Global Industrial Automation Market size was valued at USD 177.57 billion in 2021 and is poised to grow from USD 407.268 billion in 2022 to USD 441.7 billion by 2030, growing at a CAGR of 8.84% in the forecast period (2023-2030).

Players in the global industrial automation market are primarily focusing on innovative robotics and automation applications. To increase their market presence, the players in the industry engage in mergers and acquisitions, partnerships, and collaborations. ABB Ltd., Rockwell Automation, and Honeywell International are some of the major competitors in the industry. They are creating cutting-edge uses for robotics and automation technologies in order to unlock new development possibilities. For instance, ABB Ltd. invests about 5% of its revenue in R&D to broaden its product line with an emphasis on collaborative robotics, digital factory automation, machine-centric robotics, and artificial intelligence. 'Emerson Electric Co.', 'General Electric Company ', 'Honeywell International Inc', 'Siemens AG', 'ABB Ltd.', 'Schneider Electric SE', 'Rockwell Automation Inc.', 'Mitsubishi Electric Corporation', 'Yokogawa Electric Corporation', 'Omron Corporation', 'Bosch Rexroth AG', 'KUKA AG', 'Fanuc Corporation', 'Keyence Corporation', 'Parker Hannifin Corporation', 'Yaskawa Electric Corporation', 'Adept Technology Inc.', 'Festo AG & Co. KG', 'Beckhoff Automation GmbH & Co. KG', 'Danaher Corporation.'

Digital Supply Chain Across Industries Has Changed Due to Industry 4.0.

Increasing the use of digital twins and augmented reality in manufacturing to support market expansion. Organizations can assess possible improvements, identify implementation risk reduction, and grasp feasibility with the use of a digital twin. The adoption and upkeep of digital twins have been easier with the rise of the industrial Internet of Things, which includes cloud-based systems and intelligent sensors. For their commercial operations, organisations use digital twin technology to lower the chance of equipment failure. By simulating the procedure, it also aids in automatically scheduling the repairs. For instance, the German logistics business DHL International GmbH integrated a supply chain solution for Tetra Pak's warehouse in July 2019 utilising a digital twin. Scalable, economical, and agile supply chain operations would be made possible. In order to construct a digital twin, transportation vehicles are equipped with Internet of Things (IoT) technology. It ensures the safe delivery of necessities, such food and beverages, from the farm to the customer. The expanding demand for automation solutions in the next years is to blame for this rising usage of digital twin technologies.

During the forecast period, Europe is expected to hold a dominant position in the global industrial automation market. According to the International Federation of Robotics (IFR), the highest robot densities worldwide were found in Western Europe (225 units per 10,000 employees) and the Nordic European Countries (204 units per 10,000 employees) in January 2021. With 346 units per 10,000 employees, Germany comes in fourth among the most automated nations in the world. These are a few of the important elements that make up the majority of the region.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Industrial Automation Market

Product ID: SQMIG45D2047

$5,300
BUY NOW GET SAMPLE