Pune, 05, Dec 2022: According to the Industrial Automation Market research released by Maximize Market Research, the market is expected to grow from USD 133.10 Billion in 2021 to USD 217.2 Billion in 2029, at a CAGR of 8.5 percent over the forecast period from 2022 to 2029. Various sectors adopt industrial automation to upgrade industrial processes and simplify the company’s manufacturing operations.
Industrial Automation Market Scope and Research Methodology
The Industrial Automation Market research report covers product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry, overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc. The report includes drivers, opportunities, and restraints affecting the global market. It covers the impact, of these drivers, trends and restraints on the demand of the market during the forecast period. The report also highlights opportunities in the market at the global level.
The research report involves the extensive usage of both primary and secondary data sources. The research process involves the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, and present trends in the market, technological innovation, upcoming technologies and the technical progress in related industries, and market risks, opportunities, market barriers, and challenges.
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Industrial Automation Market Overview
Industrial Automation is the use of autonomous technology such as robots and computer software to operate machines and operations in many industrial sectors. According to MMR, integrating automation in the manufacturing industry may raise revenue by $4.92 trillion by 2030. By automating 64.2% of industrial operations, the world could save 749 billion working hours. Thanks to the increasing implementation of process automation technology across several industrial sectors such as automotive, chemical, and energy utilities, the industrial automation market is likely to rise significantly over the forecast period. Automation in Industrial Processes enables companies to reduce labour and operational costs. It also provides advantages such as greater efficiency and dependability, which helps to eliminate human errors. In order to remain competitive, manufacturers are adopting new technologies.
Industrial Automation Market Dynamics
New automated manufacturing facilities require the utilization of cutting-edge automation technologies such as SCADA, DCS, RTU, PLC, and HMI. Data collecting via SCADA helps in the elimination of calculation errors while also improving product quality and manufacturing facility efficiency. The construction of these manufacturing processes demands significant financial investments in equipment, software, and training. Such a large investment is difficult for new entrants who are constructing their first plant. As a result, before implementing industrial automation systems and solutions, these companies must do a thorough analysis of their return on investment. Furthermore, due to the high pricing of new and complex systems, as well as the absence of an interface with old systems, numerous organizations are unable to replace their existing old systems. Because these outdated systems communicate via their own authentication methods, connecting them to modern systems is challenging. Manufacturers must suffer significant additional expenses in order to change their present systems.
Industrial Automation Market Regional Insights
North America Industrial Automation Market is expected to grow more quickly than it did from 2020 to 2021 in terms of revenue due to the industry’s growing need for cutting-edge manufacturing robotic technology. The solid manufacturing capability and trading potential of significant corporations is also critical component driving growth in this region. Recently, the United States exported automation equipment valued at around USD 12.7 billion. Furthermore, the United States is the third-largest global exporter after China and Germany. Globally, the United States is a competitive top-tier provider of automation equipment.
Industrial Automation Market Segmentation
- Industrial Robots
- Machine Vision System
- Process Analyzer
- Field Instruments
- Human Machine Interface (HMI)
- Industrial PC
- Industrial Sensors
- Industrial 3D Printing
- Vibration Monitoring
- Supervisory Control and Data Acquisition (SCADA)
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- Manufacturing Execution System (MES)
- Industrial Safety
- Plant Asset Management (PAM)
- Oil & Gas
- Pharmaceuticals & Medical Devices
- Food & Beverages
- Energy & Power
- Machine Manufacturing
- Water & Wastewater Treatment
- Electronics & Semiconductors
- Metals & Mining
Industrial Automation Market Key Competitors:
- ABB Ltd.
- Honeywell International Inc.
- FANUC Corporation
- Yaskawa Electric Corporation
- Toshiba Machine Corporation Ltd.
- Yokogawa Electric Corporation
- Emerson Electric Company
- General Electric Company
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- Voith GmbH
- GE Company
- Honeywell International Incorporation
- Omron Corporation
- Schneider Electric SA
- Siemens AG
- Kuka AG
- Keyence Corporation
- Fanuc Corporation
- Bosch Rexroth
- Fuji Electric Co., Ltd.
- Endress+Hauser AG
- Hitachi Ltd.
- Yaskawa Electric Corporation
- Danaher Corporation
- Ropoer Technologies
- Phoenix Contact
Key questions answered in the Industrial Automation Market are:
- What is Industrial Automation?
- What is the growth rate of Industrial Automation Market over the forecast period?
- What is the nature of competition in Industrial Automation industry in developed economies and developing economies?
- Who are the key players in the Industrial Automation Market?
- Who are the market leaders in Industrial Automation in Europe
- Who are the market leaders in Industrial Automation in USA and Canada
- Who are the market leaders in Industrial Automation in India, China, Japan and South Korea?
- What are the factors affecting growth in the Industrial Automation Market?
- Who held the largest market share in Industrial Automation Market?
- What are the factors for the growth of the Asia-Pacific region in the Industrial Automation Market?
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- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Component, Solution, Industry, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Industrial Automation Oil & Gas Market – The Industrial Automation Oil & Gas Market size was valued at US$ 10.06 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 4.7% through 2022 to 2029, reaching nearly US$ 26.16 Bn. The Industrial Automation Oil & Gas Market is expected to be driven by including rising demand for crude oil and petroleum expected to drive industrial automation oil and gas market.
Industrial Robotics Market –The Industrial Robotics Market was valued at USD 42.34 Billion in 2021 and is expected to reach USD 103.34 Billion by 2029, exhibiting a CAGR of 11.8 % during the forecast period (2022-2029). The Industrial Robotics Market is expected to be driven by an increase in Investments in R&D Activities
Smart Factory Market –The Smart Factory Market was valued at US$ 80.06 Bn in 2021 and is expected to reach US$ 182.51 Bn by 2029, at a CAGR of 10.85% during a forecast period. The Smart Factory Market is expected to be driven by the revolution of the Internet of Things (IoT), the increasing use of enabling technologies in manufacturing, rise in the adoption of industrial robots in manufacturing.
Factory Automation Market-The Factory Automation Market was valued at USD 268.46 Billion in 2021 and is expected to reach USD 531.01 Billion by 2029, exhibiting a CAGR of 8.9 % during the forecast period (2022-2029). The Factory Automation Market is expected to be driven by an increase in demand for automation for qualitative and reliable manufacturing to drive the growth of the factory automation market.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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