The Industrial Automation Market refers to the use of computers, robots, and other advanced technologies to control and automate industrial processes. It aims to increase productivity, efficiency, and safety while reducing costs and human intervention. This market includes various automation solutions such as control systems, robots, sensors, and communication technologies. It finds applications in diverse industries including automotive, oil and gas, pharmaceuticals, food and beverages, and others. The industrial automation market is growing rapidly due to the increasing demand for improved efficiency and accuracy in industrial processes. It also offers benefits like reduced labor costs, enhanced product quality, and the ability to operate in hazardous environments.
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Report Highlights:
According To Market Data Library, The Global Industrial Automation Market Reached US$ 174.77 Billion In Terms Of Revenue In 2022 And Is Forecast To Be Valued At US$ 385.9 Billion In 2031. Between 2023 And 2031, Market Revenue Is Expected To Register A Compound Annual Growth Rate (CAGR) Of 9.2%, And Factors Driving This Projected Growth Are Provided In Much Detail Along With Tables, Charts, Infographics, As Well As Supporting Information And Forecasts In The Report.
Industrial Automation Market Analysis & Insights
Industrial Automation Is The Use Of Tools Like Computer Software And Robots To Operate Equipment And Procedures That Take The Place Of People In Carrying Out Particular Tasks. Manufacturing, Quality Control, And Material Handling Procedures Are The Main Foci Of The Functions. With The Continuous Introduction Of Advanced Technologies Like Robots, Artificial Intelligence, And Others, The Industrial Sector Has Been Swiftly Evolving. With The Aid Of Intelligent Manufacturing Infrastructure, Automation Also Facilitates Quick Manufacturing And Material Handling Activities. In An Effort To Boost Efficiency And Save Labour Costs, Industries Are Implementing Industrial Automation And Control Systems.
Industrial Automation Market Dynamics
“The Market Growth Has Been Propelled By Technological Advancements And Growing Infrastructure”
Factory Automation Is Driven By Technological Advancements, Growing Economic And Infrastructure Opportunities, And Increasing Demand For Operational Efficiency. Automation Is Expected To Boost Countries And Businesses By Ushering In A New Era Of Economic Growth. It Is Expected To Have A Significant Impact On A Wide Range Of Businesses, Shareholders, Business Models, And Favorable Government Regulations That Promote Adoption Across Industries Worldwide. The Automation Sector Is Expected To Experience A Surge During The Forecast Period Due To The Growing Awareness Of Cloud Computing Platforms And Technological Advancements In Semiconductors And Electronic Devices.
“Growing Automation In Manufacturing Industry Is Driving The Market Demand”
The Manufacturing Industry Is Investing Heavily In Automation And Digitization, Which Is Expected To Drive The Growth Of The Market In The Coming Years. Industries Such As Automotive, Aerospace, And Heavy Engineering Are Increasingly Adopting These Technologies To Improve Efficiency And Productivity. The Integration Of The Industrial Internet Of Things (IIoT) In Manufacturing Plants Is A Key Trend, As It Allows For The Connection Of Systems And Devices To A Network. This Enables Real-Time Data Collection And Analysis, Which Can Be Used To Improve Decision-Making And Optimize Operations.
“Stringent Regulation By Governments Restricts The Market Growth”
Governments Around The World Are Tightening Regulations On The Use Of Solvent Dyes Due To Their Potential Health And Environmental Hazards. These Hazards Include – Cancer, Can Cause Changes In DNA, Can Harm The Reproductive System, Can Harm The Environment, Including Aquatic Life. Therefore, Governments Of Many Countries Have Put Regulations On Its Usage. For Example, The European Union’s REACH Regulation Restricts The Use Of Certain Chemicals, Including Some Solvent Dyes. The United States’ Toxic Substances Control Act (TSCA) Requires Manufacturers To Test And Register New Chemicals Before They Can Be Sold. And The California Proposition 65 Requires Businesses To Warn Consumers About The Presence Of Certain Chemicals In Their Products.
“High Initial Capital Investment To Restrain The Market Growth”
The Industrial Automation Market Is Facing A Challenge Due To The High Initial Capital Investment Required For The Implementation Of Technology And Training Employees. This Makes It Difficult For Small And Medium-Sized Enterprises (SMEs) To Adopt Automation Solutions. However, Government Policies And Smart Manufacturing Initiatives Are Expected To Help Overcome This Challenge By Making It Easier For SMEs To Obtain Financing For Automation Projects And Providing Them With Access To Technical Expertise. These Initiatives Are Likely To Create Market Opportunities For Automation Solutions In The Near Future.
“The Growing Demand For Safety Automation Solutions Is A Major Driver Of Market Opportunities.”
Manufacturers Are Developing Advanced Safety Measures For Industrial Automation To Prevent Workplace Accidents. This Is Increasing The Demand For Safety Automation Solutions, Which Are Designed To Reduce The Risk Of Accidents. The Electrotechnical Commission (IEC) And The International Organization For Standardization (ISO) Are The Leading International Authorities That Set Safety Standards For Machinery. These Standards Help To Ensure That Safety Automation Solutions Are Effective In Preventing Accidents. The Integration Of Safety Automation Solutions With Automation Systems Is Also Increasing Market Opportunities. This Integration Allows For The Real-Time Monitoring Of Safety Risks And The Automatic Implementation Of Safety Measures.
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Key Benefits of This Market Research:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Industrial Automation Market
- Overview of the regional outlook of the Industrial Automation Market
Regional Insights:
The Asia Pacific Region Dominated The Industrial Automation Market In 2022, Accounting For Over 34% Of The Total Revenue. This Dominance Is Expected To Continue In The Coming Years, Driven By The Presence Of Key Market Players And Emerging Companies In The Region. Additionally, The Growing Demand For Improved Solutions To Manage Industrial Plants In India And China Is Driving Market Growth In The Region. The Implementation Of Smart Production Facilities From Conventional Production Facilities Is A Common Trend In The Asia Pacific Region, And It Is Helping To Drive The Adoption Of Industrial Automation. This Trend Is Expected To Continue In The Coming Years, As More And More Manufacturers In The Region Look To Improve Their Efficiency And Productivity.
North America Is Also A Major Market For Industrial Automation, And It Is Expected To Grow At A CAGR Of Over 8.8% From 2022 To 2031. This Growth Is Being Driven By The Increasing Adoption Of Automation Technologies By Manufacturing Units In The Region. These Manufacturers Are Looking To Implement The Latest Technological Advances And Digital Transformation Capabilities To Make Their Business Processes More Efficient And Effective. For Example, In September 2022, ABB Ltd. Expanded Its Manufacturing Footprint Across The United States With The Help Of Investment In New EV Charger Stations In The Region. This Investment Is Expected To Help ABB Ltd. E-Mobility To Meet The Rising Need And Demand For Electric Vehicle Chargers Across The Region. Industrial Automation Is Also Being Adopted In Many Other Sectors In North America, Such As Automotive, Healthcare, And Manufacturing. This Is Being Driven By The Need For Increased Efficiency And Productivity In These Sectors.
Key Companies And Competitive Landscape:
- ABB Ltd.
- Emerson Electric Co.
- Honeywell International, Inc.
- Kawasaki Heavy Industries, Ltd.
- Mitsubishi Electric Corporation
- OMRON Corporation
- Rockwell Automation, Inc.
- Schneider Electric
- Siemens AG
- Yokogawa Electric Corporation
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Report Segmentation:
The Market Report Is Segmented According To Deployment Type, Component, End-Use Industry, Region And Countries As Shown Below:
By Deployment Type
- Industrial Robots
- Process Analyzer
- Machine Vision System
- Human Machine Interface
- Field Instruments
- Industrial Sensors
- Industrial 3D Printing
- Industrial PC
- Vibration Monitoring
By Component
- Plant Asset Management
- Manufacturing Execution System
- Industrial Safety
- Programmable Logic Controller
- Distributed Control System
- Supervisory Control And Data Acquisition
By End-Use Industry
- Automotive
- Metals & Mining
- Water & Wastewater Treatment
- Electronic & Semiconductors
- Energy & Power
- Machine Manufacturing
- Food & Beverages
- Pharmaceuticals & Medical Devices
- Chemicals
- Oil & Gas
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Developments And Strategies:
Rockwell Automation Inc. And Kezzler AS Collaborated In July 2021 To Enable Manufacturers To Capture Their Product’s End-To-End Journey From Raw Material Sources To The Point Of Sale Or Beyond Using Cloud-Based Chain Solutions. Rockwell Automation Inc. And Kezzler AS Partnered To Provide Manufacturers With A Cloud-Based Solution That Would Allow Them To Track Their Products From Raw Materials To The Point Of Sale. This Would Give Manufacturers A Better Understanding Of Their Supply Chains And Help Them To Improve Efficiency And Traceability.
Siemens AG And SAP SE Expanded Their Partnership In July 2021 To Deliver A New Solution For Services And Asset Lifecycle Management. Siemens AG And SAP SE Partnered To Provide A New Solution That Would Help Manufacturers To Manage Their Assets Throughout Their Lifecycle. This Would Include Connecting Plant Floor Operations, Product Development, And Remote Condition Monitoring. This Would Help Manufacturers To Improve Efficiency And Uptime.
Rockwell Automation Inc. Acquired Plex Systems In June 2021 For USD 2.22 Billion. Rockwell Automation Inc. Acquired Plex Systems In Order To Expand Its Industrial Cloud Offerings. Plex Systems Is A Provider Of Cloud-Native Smart Manufacturing Platforms. This Acquisition Would Give Rockwell Automation Access To Plex Systems’ Technology And Expertise In The Cloud Manufacturing Space.
In October 2022, Rockwell Automation Inc., A Global Leader In Industrial Automation And Digital Transformation, Acquired CUBIC, A Company That Specializes In Modular Systems For The Construction Of Electrical Panels. This Acquisition Will Help Rockwell Automation To Expand Its Portfolio Of Products And Services For The Electrical Industry.
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