The Industrial Automation Market is undergoing rapid transformation, driven by technological advancements and the growing demand for efficiency and productivity in manufacturing processes. Industrial automation refers to the use of control systems, such as computers, robots, and information technologies, to handle different processes and machinery in an industry to replace human intervention. This market is essential in sectors such as automotive, pharmaceuticals, energy, and food & beverages, where precision, scalability, and speed are crucial.
Key technologies in industrial automation include robotics, artificial intelligence (AI), Internet of Things (IoT), programmable logic controllers (PLCs), and supervisory control and data acquisition (SCADA) systems. These systems help companies achieve operational efficiency, reduce costs, and improve product quality while minimizing human error.
Global Industrial Automation Market size was valued at USD 171.21 Billion in 2022 and is expected to grow from USD 185.42 Billion in 2023 to reach USD 350.9 Billion by 2031, at a CAGR of 8.3% during the forecast period (2024-2031).
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The major players profiled in this report include
- ABB (Switzerland)
- Emerson (US)
- Siemens (Germany)
- Schneider Electric (France)
- Mitsubishi Electric (Japan)
- Yokogawa Electric Corporation (Japan)
- Endress+Hauser (Switzerland)
- Honeywell (US)
- Rockwell Automation (US)
- General Electric (US)
- FANUC CORPORATION (Japan)
- OMRON Corporation (Japan)
- Advantech Co., Ltd. (Taiwan)
- Hitachi Ltd. (Japan)
- Keyence Corporation (Japan)
- Parker Hannifin Corporation (US)
- Yaskawa Electric Corporation (Japan)
- Beckhoff Automation GmbH & Co. (Germany)
- Danaher Corporation (US)
- Fuji Electric (Japan)
Regional Coverage of the Industrial Automation Market:
➤ North America (United States, Canada, and Mexico)
➤ Europe (UK, Germany, France, Russia, and Italy)
➤ Asia-Pacific (China, Korea, Japan, India, and Southeast Asia)
➤ South America (Brazil, Colombia, Argentina, etc.)
➤ The Middle East and Africa (Saudi Arabia, UAE, Nigeria, Egypt, and South Africa)
Industrial Automation Market Segments
- Component
- Hardware, Software, and Service
- Hardware
- Industrial Sensors, Machine Vision Systems, Field Instruments, Industrial Robots (Robot Type- Traditional Industrial Robots, Collaborative Robots), Human machine Interface, Industrial PCs, and Others
- Software Type
- Manufacturing Execution System, Industrial Safety, Plant Asset Management, Supervisory Control & Data Acquisition, Programmable Logic Controller, and Distributed Control System
- Industry Vertical
- Oil and Gas, Manufacturing, Automotive, Healthcare, Food and Beverages, Chemicals, Energy and Power, Metal and Mining, and Others
What market dynamics does this report cover?
- Current market size
- Market forecast
- Market opportunities
- Key drivers and restraints
- Regulatory scenario
- Industry trend
- New product approvals/launch
- Promotion and marketing initiatives
- Pricing analysis
- Competitive landscape
Industrial Automation Market 2024-2031: Main Highlights
- The compound annual growth rate of the market during the forecast period 2024-2031
- Detailed information on the factors that will contribute to the growth of the Industrial Automation market in the next five years
- Estimate the size of the Industrial Automation market and its contribution to the parent market
- Forecast of upcoming trends and changes in consumer behavior
- Industrial Automation market growth
- Analyze the market competition landscape and provide detailed information about suppliers
- Detailed information on the factors that comprehensively challenge the growth of vendors in the Industrial Automation market
- Insightful research reports on the Industrial Automation market include Pestle analysis, Porter’s five forces analysis, and SWOT analysis to understand the factors that affect consumer and supplier behavior
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