Industrial Automation Market Size, Share, Growth Analysis, By Component, Hardware(Industrial Sensors, Machine Vision Systems, Field Instruments, Industrial Robots, HMI, Industrial PCs, Others), Software Type(MES, Industrial Safety, PAM, SCADA, PLC, DCA), Industry Vertical, and Region - Industry Forecast 2024-2031


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

Industrial Automation Market Insights

Global Industrial Automation Market size was valued at USD 171.21 Billion in 2022 and is expected to grow from USD 185.42 Billion in 2023 to reach USD 350.9 Billion by 2031, at a CAGR of 8.3% during the forecast period (2024-2031).

The industrial automation market is a dynamic and rapidly evolving sector that revolutionizes traditional manufacturing processes through the integration of cutting-edge technologies. Its primary function can therefore be viewed in the improvements of operations, efficiency, and economies during diverse commercial enterprises. This market is concentrated in a vast number of automation solutions; robotics, control systems, sensors, and software solutions that are deployed with the main purpose of enhancing efficacy and safety measures in the production line as well as maintaining uniformity and reliability of the products being manufactured. The constant quest for operational efficiency and minimized operational costs by industries to remain relevant in today’s global marketplace remains a dominant driver of the industrial automation market. This represents an ideal market since its need for quality products to meet the standard set down by regulatory and government bodies puts pressure on companies to employ automation solutions to enhance the manufacturing lines. 

The most significant is the relatively high initial investment costs of introducing automation technologies. It may also help to explain why SMEs specifically do not adopt it, as this last barrier may discourage more firms from doing so. Furthermore, issues related to job loss and the lack of sufficient demand for re-skilling represent major barriers that reflect upon the population at large. Nevertheless, the implementation of single or multiple types of automation technologies into an already operating system still remains a big issue for most industries and organizations since this process demands big investments, as well as special knowledge and a great deal of efforts to match new automated components with the existing processes and avoid negative impacts on the organizational performance. It challenges also pose threat in cybersecurity as automation systems I different organizations are most likely to be connected to the internet hence easily attacked/ hacked. 

However, the concept of industrial automation provides market sales opportunities that can bring new ideas to the existing industry. Growth and maintenance of Industry 4.0, characterized by the intersection of digital tools with classical production techniques, can be considered the starting point for the emergence of a smart factory and companion systems. The utilization of IoT technology and integrated AI algorithms builds additional opportunities for prognosis, analytics, and making decisions about maintenance and functioning, as well as it suggests more potential profit yields and loss decrease. 

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

Market Snapshot - 2024-2031

Global Market Size

USD 177.57 billion

Largest Segment

Discrete Automation

Fastest Growth

Discrete Automation

Growth Rate

8.84% CAGR

Global Industrial Automation Market By Region ($ Bn)
Country Share for North America Region (%)

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Industrial Automation Market Segmental Analysis

The global industrial automation market is segmented on the Component, Hardware, Software Type, Industry Vertical, and region. Based on Component, the market is segmented into Hardware, Software, and Service. Based on Hardware, the market is segmented into Industrial Sensors, Machine Vision Systems, Field Instruments, Industrial Robots (Robot Type- Traditional Industrial Robots, Collaborative Robots), Human Machine Interface, Industrial PCs, and Others. Based on Software Type, the market is segmented into Manufacturing Execution System, Industrial Safety, Plant Asset Management, Supervisory Control & Data Acquisition, Programmable Logic Controller, and Distributed Control System. Based on Industry Vertical, the market is segmented into Oil and Gas, Manufacturing, Automotive, Healthcare, Food and Beverages, Chemicals, Energy and Power, Metal and Mining, and Others. Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. 

Analysis by Component 

The software segment stands as the largest driving force, wielding significant influence over the industry's trajectory. This dominance stems from the pivotal role software plays in optimizing operations, enhancing efficiency, and enabling seamless integration across various automated processes. From advanced SCADA (Supervisory Control and Data Acquisition) systems to robust PLC (Programmable Logic Controller) programming platforms, industrial software solutions empower manufacturers to streamline production, minimize downtime, and ultimately boost profitability. Moreover, the emergence of Industry 4.0 technologies has catalyzed further growth in this segment, with solutions like MES (Manufacturing Execution Systems) and predictive analytics platforms revolutionizing how factories operate, driving demand for sophisticated software offerings. 

The services emerge as the fastest-growing segment, propelled by the escalating need for specialized expertise and support to implement and maintain automation solutions effectively. As industries increasingly transition towards automation to stay competitive in today's dynamic landscape, the demand for consulting, integration, and maintenance services surges. Companies seek to capitalize on the full potential of automation technologies, necessitating tailored solutions, training, and ongoing support to optimize performance and ensure seamless operation. This trend underscores the pivotal role of service providers in facilitating the adoption and evolution of industrial automation, shaping the industry's trajectory as it continues to innovate and expand. 

Analysis by Industry Vertical 

The manufacturing segment occupies its significant position among the other categories as the largest industrial automation market. This can be attributed to the increased use of automation technologies to improve the efficiency of their operations, maintain high standards of their products, and in the process, minimize expenses. Automotive industries, electrical industries, textiles, garment industries, and related fields like home appliances and consumer durables also engage extensively in the use of robotics, artificial intelligence, and advanced control systems.  

The healthcare segment is one of the most extensive growth segments in the industrial automation industry. This is because there is a growing need for high accuracy, best quality, and speed in operations involving surgeries, tests and manufacture drugs. The automation technologies applied in healthcare are numberless such as; robotic surgeries, automated diagnosis, and artificial intelligence in patients’ monitoring and data processing. These developments are not only beneficial to the patient’s end, but also beneficial for physicians, nurses, and medical facilities overall cutting back on expenses. COVID-19, within this regard, has played a crucial role to push the adoption of automation solutions in the healthcare unit, making it amply clear that reliable and scalable solutions are preconditions necessary to meet drastically increased healthcare needs. This trend shows the increasing willingness of the healthcare sector to adopt new technologies in the area, which is the major factor in the continuing expansion of the industrial automation market at top speed.

Global Industrial Automation Market By component

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Industrial Automation Market Regional Insights

North America stands as a dominating region in this market, primarily due to the presence of major technology companies, high investment in research and development, and the early adoption of advanced manufacturing technologies. They identify the United States of America particularly as having better structure embracing automation in different industries such as automotive, aerospace and electronics. Other driving forces such as the efforts of the government to promote smart manufacturing and the use of IoT gadgets in industrial operations also help augment the growth of the market in this region.

The Asia-Pacific region is still considered as the most growing market pertaining to industrial automation. This fast-growing market is due to the increasing trend towards the automation of countries such as China, India, and Japan that constitute the manufacturing world’s heart. The area embraces a large pool of human resources which is harnessed through increased investment in industrial structures and accompanied by great emphasis on improvement of manufacturing competence to conform to global standards. In this case, smart factories have been affirmed as the leading influencer of automation technologies contributed by the government’s backing through various policies and activities. Also, electronics automotive & textile industries across Asia-Pacific have been growing tremendously invoking the necessity to adopt high end of automation for higher productivity and positioning in the global market.

Global Industrial Automation Market By Region
  • Largest
  • Fastest

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Industrial Automation Market Dynamics

Industrial Automation Market Driver

Government Initiatives to Promote Industrial Automation

  • Different countries are prompting establishment of industries so as to foster and realize the overall growth of their nations. This has resulted in the advancement of numerous automation and communication parts and structures for the architectural advancement of industries. More specifically, government attention is centered on the growth of process and discrete sectors. For instance, the Government of Singapore has joined hands with Singapore Food Manufacturing Association (SFMA) and Food Innovation Resource Centre (FIRC) to embrace the recent automation solutions like SCADA, PLC, DCS, robots, and cables in food & beverage sector. The current manufacturing policy for India is in the form of a National Manufacturing Policy and proposed vision to boost the manufacturing sector in the country. The Government of India has also embarked on some undertakings for automation, including the ‘Make in India’ policy, that has encouraged firms to embark on automation of their production facilities.  

Growing Need for Flexible and Customizable Production

  • As industries increasingly seek agility and efficiency in manufacturing processes, there is a rising demand for automation solutions that can adapt to varying production requirements swiftly. This drive towards flexibility and customization is fueling the adoption of advanced robotics, AI-driven systems, and modular production technologies. Companies are investing in automation to achieve faster product changeovers, reduce downtime, and meet diverse customer demands efficiently. Thus, the trend not only drives market growth but also fosters innovation in industrial automation solutions tailored to modern manufacturing challenges. 

Restraints 

Fluctuations in end-use industries

  • According to the BP Statistical Review of World Energy 2021, the oil price averaged at USD 41.84/bbl in 2020, which is the lowest since 2004. Global oil consumption fell by a record 9.1 million barrels per day (b/d) or 9.3%, the lowest since 2011. Oil demand fell across major economies such as the US, the entire European Union (EU), and India. Global oil production shrank by 6.6 million b/d. Consequently, refinery utilization fell by a record 8.0 percentage points to 74.1%, the lowest since 1985. There is a growing shortage of semiconductor chips in the market, mainly due to the continuing trade war between the US and China, which is adversely affecting the manufacturing of variety of products and equipment, including electronic products. Other major geopolitical events such as the Russia-Ukraine war and relocation of major manufacturing hubs from China to other countries, has disrupted the entire supply chain.  

Concerns about Job Displacement

  • The potential for automation to replace human workers raises fears of unemployment and economic inequality. These concerns act as a restraint on the industrial automation market by prompting companies to proceed cautiously in adopting automation technologies. Policymakers may also introduce regulations to manage the societal impact of automation, influencing market dynamics further. Balancing the benefits of automation with addressing these concerns is crucial for fostering sustainable growth and acceptance of automation in various industries.

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Industrial Automation Market Competitive Landscape

The industrial automation market is competitive, characterized by a landscape dominated by several key players. These companies present a broad spectrum of products like the programmable logic controller (PLC), human interface devices, supervisory control and data acquisition devices and systems, and various industrial robots amongst others. It’s the kind that never rests but keeps reinventing itself in lines of activity including industrial security, cloud-based automation, software solutions, etc., which people globally require in manufacturing businesses. However, there are many other industry players and new entrants from the region, as well as increasingly innovative solutions and technologies such as machine vision systems, and predictive maintenance systems for the industrial environment. The role of strategic partnerships and affiliations, mergers and acquisitions are critical in determining key features of the market growth, allowing companies to proliferate its market share, as well as advance its technology portfolio and sustain its competitive advantages. It creates a continual development and guarantees the market relevant to the dynamics of industries and what is expected on the international level.

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 March 2024, ABB Ltd from Switzerland shares a partnership with Automated Architecture Ltd (AUAR) from U. K. to incorporate Robotic Automation in constructing buildings. These ideas define the mission of the collaboration related to vision and AI for robots to construct low-energy dwelling homes.

  • In February 2024, Automation Technology GmbH (Germany) unveiled a new 3D sensor series called ECS (Eco Compact Sensor) sensors that is ideal for machine vision application mainly in the food processing, packaging, and robotics industries. 

  • In November 2023, the Germany based software corporation SAP SE has opened the SAP Hong Kong Cloud ERP Experience Center for midsize firms – the center is designed to help midsize firms to adopt cloud-based ERP tools comes with business AI and automation solutions.

Industrial Automation Key Market Trends

  • Increasing Integration of IIoT and Industry 4.0: This paper has featured the combination of IIoT with Industry 4. It is evident that decreasing to 0 technologies denotes an evolution of new and more intelligent integrated industrial automation solutions. IIoT utilizes sensors, networks, and intelligent data handling to improve precise sensing, predictive upkeep, and real-time control of the manufacturing processes. Collection of data regardingmachines and processes helps with efficient working on the production line, less time for downtime and better quality of final product. It adds flexibility and geographic control to the data through cloud computing and other tools, enhancing the capabilities of remote monitoring and control. This integration not only serves to improve operational flexibility, but also provides the base upon which to build intelligent factories, able to determineworking procedures individually and continuously self-adapt if necessary. 
  • Rise of Collaborative Robotics (Cobots): Co-bots are programmed to share workplaces with human workers more effectively reducing risks of injuries significantly thus transforming the traditional industrial robots. Thus, while conventional industrial robots are limited in terms of interaction and cooperation with people or other machines, cobots include numerous sensors and programs that let them work alongside people and perform tasks that require fine manipulation, precise operations, or strict repetitive movements. This capability has the most application in manufacturing sectors such as the electronics and automotive and the pharmaceutical industries as activities can be pre-programmed and controlled though they require supervision by human operators. They provide safety solutions by dealing with risky operations or workloads during production, and letting workers concentrate on planning, directing and monitoring. One of the appealing things to note is that cobots fit perfectly in most companies, mainly because they are easy to integrate; they do not require much redesigning of the production lines, especially for SMEs.

Industrial Automation Market SkyQuest Analysis

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

According to our Market analysis, the market for industrial automation is proving to be rapidly growing, with North America pushing competitors out of the race. The executive summary of the regional leadership is informed by factors such as the well-developed manufacturing industry, the high penetration levels of automation technologies, and massive investment in the digitization of industries. An influential force behind this drive is the rising need for cutting costs and increasing productivity across manufacturing organizations, which automation solutions help to meet. Also, because of proliferation of IoT and AI technologies, another trend is the increased rate of integration of IoT and AI into automation systems which makes manufacturing smarter and more adaptive. Such developments do not only improve production efficiency but can also spearhead the provision of predictive maintenance and raw data processing in real time, which serves to reinforce North America’s status as the epicenter of industrial automation.

Report Metric Details
Market size value in 2022 USD 171.21 Billion
Market size value in 2031 USD 350.9 Billion
Growth Rate 8.3%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware, Software, and Service
  • Hardware
    • Industrial Sensors, Machine Vision Systems, Field Instruments, Industrial Robots (Robot Type- Traditional Industrial Robots, Collaborative Robots), Human machine Interface, Industrial PCs, and Others
  • Software Type
    • Manufacturing Execution System, Industrial Safety, Plant Asset Management, Supervisory Control & Data Acquisition, Programmable Logic Controller, and Distributed Control System
  • Industry Vertical
    • Oil and Gas, Manufacturing, Automotive, Healthcare, Food and Beverages, Chemicals, Energy and Power, Metal and Mining, and Others
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.
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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 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 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 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 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 Industrial Automation Market:

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

Regional Analysis: Further analysis of the 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.

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FAQs

Global Industrial Automation Market size was valued at USD 171.21 Billion in 2022 and is expected to grow from USD 185.42 Billion in 2023 to reach USD 350.9 Billion by 2031, at a CAGR of 8.3% during the forecast period (2024-2031).

The industrial automation market is competitive, characterized by a landscape dominated by several key players. These companies present a broad spectrum of products like the programmable logic controller (PLC), human interface devices, supervisory control and data acquisition devices and systems, and various industrial robots amongst others. It’s the kind that never rests but keeps reinventing itself in lines of activity including industrial security, cloud-based automation, software solutions, etc., which people globally require in manufacturing businesses. However, there are many other industry players and new entrants from the region, as well as increasingly innovative solutions and technologies such as machine vision systems, and predictive maintenance systems for the industrial environment. The role of strategic partnerships and affiliations, mergers and acquisitions are critical in determining key features of the market growth, allowing companies to proliferate its market share, as well as advance its technology portfolio and sustain its competitive advantages. It creates a continual development and guarantees the market relevant to the dynamics of industries and what is expected on the international level. '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.'

Different countries are prompting establishment of industries so as to foster and realize the overall growth of their nations. This has resulted in the advancement of numerous automation and communication parts and structures for the architectural advancement of industries. More specifically, government attention is centered on the growth of process and discrete sectors. For instance, the Government of Singapore has joined hands with Singapore Food Manufacturing Association (SFMA) and Food Innovation Resource Centre (FIRC) to embrace the recent automation solutions like SCADA, PLC, DCS, robots, and cables in food & beverage sector. The current manufacturing policy for India is in the form of a National Manufacturing Policy and proposed vision to boost the manufacturing sector in the country. The Government of India has also embarked on some undertakings for automation, including the ‘Make in India’ policy, that has encouraged firms to embark on automation of their production facilities.  

Increasing Integration of IIoT and Industry 4.0: This paper has featured the combination of IIoT with Industry 4. It is evident that decreasing to 0 technologies denotes an evolution of new and more intelligent integrated industrial automation solutions. IIoT utilizes sensors, networks, and intelligent data handling to improve precise sensing, predictive upkeep, and real-time control of the manufacturing processes. Collection of data regardingmachines and processes helps with efficient working on the production line, less time for downtime and better quality of final product. It adds flexibility and geographic control to the data through cloud computing and other tools, enhancing the capabilities of remote monitoring and control. This integration not only serves to improve operational flexibility, but also provides the base upon which to build intelligent factories, able to determineworking procedures individually and continuously self-adapt if necessary. 

North America stands as a dominating region in this market, primarily due to the presence of major technology companies, high investment in research and development, and the early adoption of advanced manufacturing technologies. They identify the United States of America particularly as having better structure embracing automation in different industries such as automotive, aerospace and electronics. Other driving forces such as the efforts of the government to promote smart manufacturing and the use of IoT gadgets in industrial operations also help augment the growth of the market in this region.

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