Industrial Automation Market Size is projected to reach at USD 430.9 Billion by 2030, with a CAGR of 9.7%

TOKYO, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The Global Industrial Automation Market size accounted for USD 189.7 Billion in 2021 and is predicted to be worth USD 430.9 Billion by 2030, with a CAGR of 9.7% during the projected period from 2022 to 2030.

The industrial automation market is quickly expanding as a result of the widespread acceptance of automation technology in the various industries such as, petroleum and natural gas, automotive, manufacturing petrochemical and materials, chemical, and pharmaceutical sectors. Recently, companies can drastically reduce operational and labor expenses by implementing automation technologies such as sensing devices, robotics, machine vision systems, as well as enterprise control solutions. Furthermore, the growing use of automation and robotics technologies in the manufacturing and services sectors to meet complicated consumer expectations is expected to propel the expansion of the industrial automation market.

Industrial automation is the integration of all processing systems, machinery, testing facilities, as well as factories that have become automated as a result of rapid technological advancement. These technologies and platforms are supported by cutting-edge technology such as deep learning, cloud-based services, robots, and others. Some manufacturers are focused on embracing and implementing industrial automation technologies to boost overall productivity, train their staff, and reduce exorbitant expenses while reaching precision and survival. Automation in industry sectors assists the organization and manufacturers increase production, increasing performance, and reducing mistakes. Furthermore, the widespread automation technology in the manufacturing environment, such as software applications and modern instruments, assists in the collection of trustworthy data, statistics, and statistics that can be utilized to make intelligent decisions, leading to significant cost reductions.

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Report Coverage:

Global Industrial Automation Market Dynamics                

The increasing demands for quality real-time data analysis across territories, as well as the rising use of cutting-edge technologies across end-use sectors to improve efficiency and performance are driving market expansion. The growing necessity for periodic inspection and sophisticated data analysis, which would give firms increased visibility into their manufacturing operations and hence increase productivity, is the primary driver of the industrial automation market. Additionally, an increasing reliance on process automation and capital management systems, which would give users better visibility into the state of equipment, is boosting the industrial automation market demand. The effective exchange of information among organizational divisions in the industry allows for the most efficient conversion of raw materials to finished products, emphasizing the structure of connected firms as a primary driver of the industrial automation market.

Impact of COVID-19

The last several coronavirus (COVID-19) global epidemic has significantly affected industry sectors across the globe. In addition to hastening deglobalization in industry, COVID-19 has had a significant negative impact on logistical issues. Companies have challenges ranging from sourcing raw materials to distributing final products to luring workers from prevention measures. As a consequence of this circumstance, automation has been presented as the sole viable option. Due to pandemic-related transportation issues, the corporations considered localizing more production for themselves as well as their consumers. By improving productivity, new technology advancements are encouraging deglobalization by offsetting greater salaries. As a result, industries all around the world are increasing their expenditures on automation. However, in recent years, automation is being implemented in developed countries such as the United States and Germany to boost trade.

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Significant growth in manufacturing sectors globally spurs the industrial automation market.

Manufacturing industries are expected to continue to alter in the coming years, with a transition from manual intervention to automated processes boosting market demand. For reduced or even no human intervention, the majority of contemporary industrial processes are already automated. Automation solutions are thought essential since traditional industrial processes are unable to fulfill contemporary demands. Furthermore, supportive government regulations in the manufacturing sector, as well as a greater emphasis on socio-economic development in emerging nations, are two significant growth drivers fueling the industrial automation market.

Market Segmentation        

The global industrial automation market has been segmented by Acumen Research and Consulting based on type, technology, and end user. In type, the segment is separated into programmable automation, and fixed automation. In term of technology, the market is divided into SCADA, DCS, PAC, HMI, and PLC. In terms of end user, the segment is classified into machine manufacturing, aerospace & defense, automotive, oil & gas, pharmaceuticals, electronics, and others.

Global Industrial Automation Market Regional Outlook

The global industrial automation market is split into five regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. According to the industrial automation market report, the Asia-Pacific is expected to be the prominent region in the worldwide market over the coming years. This expansion can be attributed to the existence of major industry sectors in these regions. Asian countries, especially China, India, and Japan, are the leading manufacturers and end consumers of robotic systems, sensor systems, and computer sensor systems. Additionally, India, Japan, & South Korea have thriving consumer goods, automotive, electronics, as well as pharmaceutical industries. Furthermore, government initiatives and legislation promoting the modernization of manufacturing facilities, as well as expenditures in the IIoT, are important factors that influence the growth of the industrial automation market in these nations.

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Industrial Automation Market Players        

Some of the prominent industrial automation market companies are ABB, Siemens, Endress Hauser Management AG, Hitachi, Ltd., Honeywell International Inc., Schneider Electric, Fuji Electric Co., Ltd, HP Development Company, Stratasys Ltd., Emerson Electric Co., Yokogawa India Ltd., 3D Systems, Inc., FANUC CORPORATION, Azbil Corporation, and Rockwell Automation, Inc.

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