Industrial Automation Market Size is estimated to grow at a CAGR of 8.5% during the forecast period

 

Players working to develop and introduce various industrial automation-related systems, technologies, and products are included in the worldwide industrial automation market. The market is anticipated to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030.

Industrial automation is the use of control systems, such as computers or robots, and information technology to handle tasks that humans historically did on a big scale. Better direct integration of the physical environment with computer-based systems is made possible by this technique. Capacity utilization, risk reduction, responsiveness, resiliency, and agility are made possible by industrial automation. It offers a variety of benefits, including increased control, precision, efficiency, and speed to market.

 

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Growth Drivers:

In order to reduce their overall labor and operating expenses, end-user industries such as automotive and electronics, gas, chemicals & materials, pharmaceutical, and these are considered to be progressively adopting automation solutions. The current worldwide requirements are proven to be much beyond the capabilities of conventional industrial mechanisms. Since manual labor causes production faults, manufacturing organizations are heavily investing in industrial automation technologies to improve system efficiency. The global industrial automation market is expanding as a result of the quick transition from traditional manual assistance to automation processes and solutions.

In addition, the global adoption of 5G wireless technology, the booming use of SCADA and HMI technologies, the proliferating demand for cutting-edge industrial automation & networking technologies, the increasing need for digital transformation across end-user industries, and the increasing investments in a variety of advanced technologies are among other key factors.

However, during the forecast period of 2022–2030, factors such as the scarcity of skilled labor, the high initial capital requirement, the escalating compatibility issues, and the lack of awareness regarding the benefits of automated processes are anticipated to act as significant inhibitors to the growth of the global industrial automation market.

Industrial Automation Market Segmentation:

By Component:

·         Enterprise-level Controls

o   Product Lifecycle Management (PLM)

o   Enterprise Resource Planning (ERP)

o   Manufacturing Execution Systems (MES)

·         Plant Instrumentation

o   Motors & Drives

o   Robots

§  Articulated Robots

§  Cartesian Robots

§  Selective Compliance Assembly Robot Arms (SCARA)

§  Collaborative Robots

§  Other Robots

o   Sensors

o   Machine Vision Systems

§  Cameras

§  Optics and LED Lighting

o   Relays & Switches

o   Other Plant Instrumentation Components

·         Plant-level Controls

o   Supervisory Control and Data Acquisition (SCADA)

o   Distributed Control Systems (DCS)

o   Programmable Logic Controllers (PLC)

o   Other Plant-level Controls

 

By Mode of Automation:

·         Semi-automatic

·         Fully-automatic

 

By End User:

·         Oil & Gas

·         Chemicals & Materials

·         Paper & Pulp

·         Pharmaceuticals & Biotech

·         Mining & Metals

·         Food & Beverage

·         Power

·         Consumer Goods

·         Automotive

·         Machines & Tools

·         Semiconductors & Electronics

·         Aerospace & Defense

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Key Companies in Industrial Automation Market:

The research report offers a competitive analysis of prominent companies operating in the global industrial automation market. Some of the leading players profiled in the market research report include:

·         Honeywell International

·         Mitsubishi Electric Corporation

·         OMRON Corporation

·         Advantech Co. Ltd.

·         ABB Group

·         Siemens AG

·         Yaskawa Electric Corporation

·         Schneider Electric

·         Yokogawa Electric Corporation

·         KUKA AG

·         Fanuc

·         Fuji Electric Co. Ltd.

·         Emerson Electric Co.

·         Rockwell Automation Inc.

·         Texas Instruments Incorporated

·         Other Players

 

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About Us: -  

xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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