Industrial Automation Market Size, Share, Opportunities and Key Drivers
Industrial Automation Market Size, Share, Opportunities and Key Drivers
Blog Article
Global Industrial Automation Market - Size, Share, Demand, Industry Trends and Opportunities
Global Industrial Automation Market, By Components (Sensors, Industrial Robots, Industrial PC, Machine Vision, Industrial 3D Printing, Human-Machine Interface (HMI), Field Instruments, Control Valves, and Others), Mode of Automation (Semi-Automation and Fully-Automation), Systems (PID, Model Based Control, and Others), Solution (Programmable Logic Controller (PLC), Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Enterprise Level Controls, Programmable Automation Control (PAC), Plant Asset Management (PAM), Digitalization, Functional Safety, Emission Control), Type (Programmable Automation, Fixed or Hard Automation, Integrated Automation, and Flexible or Soft Automation), End User (Process Industries and Discrete Industries) - and Industry Trends.
Data Bridge Market Research analyses that the global industrial automation market is expected to reach a value of USD 339.44 billion by 2031 from 181.85 billion in 2023, growing at a CAGR of 8.3% during the forecast period of 2024 to 2031.
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The global industrial automation market is a dynamic sector that is witnessing significant growth and innovation. Industrial automation involves the use of control systems such as robots, computers, and information technologies to handle different processes and machinery in an industry. The market is driven by factors such as the increasing demand for improved efficiency, productivity, and safety in industrial processes, as well as the growing trend towards Industry 4.0 and smart manufacturing initiatives. According to data from , the global industrial automation market size was valued at nan in , and is expected to reach nan by , growing at a CAGR of nan% during the forecast period.
**Segments**
The industrial automation market can be segmented based on type, component, industry vertical, and geography. By type, the market can be categorized into Distributed Control System (DCS), Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Human-Machine Interface (HMI), Manufacturing Execution System (MES), and others. The component segment includes hardware, software, and services. In terms of industry vertical, the market can be divided into automotive, manufacturing, oil & gas, pharmaceuticals, food & beverage, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
**Market Players**
- Siemens AG
- ABB
- Rockwell Automation, Inc.
- Schneider Electric
- Mitsubishi Electric Corporation
- Honeywell International Inc.
- Emerson Electric Co.
- General Electric
- Yokogawa Electric Corporation
- Omron Corporation
The global industrial automation market is highly competitive, with key players focusing on technological advancements, strategic collaborations, and mergers and acquisitions to gain a competitive edge. Siemens AG, ABB, and Rockwell Automation, Inc. are some of the leading market players that have a strong presence in the global market. These companies are investing in research and development activities to develop innovative solutions and expand their product portfolios to cater to the evolving needs of industries worldwide.
Market trends in the industrial automation sector include the adoption of Industrial Internet of Things (IIoT), artificial intelligence, machine learning, and robotics to enhance operational efficiency and automation processes. The integration of cloud computing and big data analytics is also gaining traction in the market, enabling real-time data monitoring and predictive maintenance capabilities. Additionally, the shift towards digitalization and smart manufacturing practices is driving the demand for advanced automation solutions across industries.
Growth drivers for the industrial automation market include the increasing focus on industrial safety and regulatory compliance, the need for cost-effective manufacturing processes, and the rising demand for energy-efficient solutions. The adoption of smart sensors, actuators, and control systems is expected to further drive market growth in the coming years. However, challenges such as cybersecurity threats, interoperability issues, and the high initial investment cost of automation systems may hinder market growth to some extent.
In conclusion, the global industrial automation market is poised for significant growth as industries continue to embrace automation technologies to streamline operations, improve productivity, and achieve operational excellence. With advancements in technology and increasing investments in research and development, the market is expected to witness robust growth in the coming years.
The Industrial Automation Market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance.
Major Points Covered in TOC:
Industrial Automation Market Overview: It incorporates six sections, research scope, significant makers covered, market fragments by type, Industrial Automation Market portions by application, study goals, and years considered.
Industrial Automation Market Landscape: Here, the opposition in the Worldwide Industrial Automation Market is dissected, by value, income, deals, and piece of the pie by organization, market rate, cutthroat circumstances Landscape, and most recent patterns, consolidation, development, obtaining, and portions of the overall industry of top organizations.
Industrial Automation Profiles of Manufacturers: Here, driving players of the worldwide Industrial Automation Market are considered dependent on deals region, key items, net edge, income, cost, and creation.
Industrial Automation Market Status and Outlook by Region: In this segment, the report examines about net edge, deals, income, creation, portion of the overall industry, CAGR, and market size by locale. Here, the worldwide Industrial Automation Market is profoundly examined based on areas and nations like North America, Europe, China, India, Japan, and the MEA.
Industrial Automation Application or End User: This segment of the exploration study shows how extraordinary end-client/application sections add to the worldwide Industrial Automation Market.
Industrial Automation Market Forecast: Production Side: In this piece of the report, the creators have zeroed in on creation and creation esteem conjecture, key makers gauge, and creation and creation esteem estimate by type.
Keyword: Research Findings and Conclusion: This is one of the last segments of the report where the discoveries of the investigators and the finish of the exploration study are given.
What to Expect from the Report, a 7-Pointer Guide
- The Industrial Automation Market report dives into the holistic Strategy and Innovation for this market ecosystem
- The Industrial Automation Market report keenly isolates and upholds notable prominent market drivers and barriers
- The Industrial Automation Market report sets clarity in identifying technological standardization as well as the regulatory
- framework, besides significantly assessing various implementation models besides evaluation of numerous use cases
- The Industrial Automation Market report is also a rich repository of crucial information across the industry, highlighting details on novel investments as well as stakeholders and relevant contributors and market participants.
- A through market analytical survey and forecast references through the forecast tenure, encapsulating details on historical developments, concurrent events as well as future growth probability
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