Product ID: SQMIG45D2047
Global Industrial Automation Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Industry(Discrete Automation, Process Automation) - Industry Forecast 2024-2031
Report ID:
SQMIG45D2047 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
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 Report Snapshots
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