Automation Control Components and Devices Market to Hit US$ 133.09 Billion By 2030 | Updated Insights

New York, Sept. 13, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Automation Control Components and Devices Market” published by Consegic Business Intelligence, the market was worth USD 59.62 Billion in 2022 and is anticipated to reach over USD 133.09 Billion by the year 2030, growing at a CAGR of 10.89%.

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Automation control components and devices refers to a range of electronic and mechanical elements used to manage and regulate automated processes in various industries. These devices play a crucial role in controlling machinery, systems, and processes without any human involvement. Few of these devices include sensor, switches, relays, and others. These devices perform together to monitor inputs, take decisions, and execute output, ultimately enabling efficient and precise automation of task and process.

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Automation Control Components and Devices Market Growth Drivers:

• Increasing demand for industrial automation across different sectors is driving the market growth of automation control components and devices
• Growing adoption of Industry 4.0 by various sectors is fuelling the demand for automation control components and devices

Restraints

• High initial cost of investment is hindering the market growth

Opportunities

• Growth of emerging technologies are expected to drive the market growth

Global Automation Control Components and Devices Market Segmentation Details:

Based on Type, switches segment contributed the largest shares to the market growth in 2022. Factor attributed towards the growth of proximity sensor include extensive application in factory automation and industrial settings for their requirements in controlling the flow of electricity or signals within automated systems. In addition, their demand remains to be constant in the industrial installations owing to on/off or control functions. For instance, Limit Switch is employed for control and monitoring of automated machinery and other industrial equipment.

Based on End Use, manufacturing segment contributed the largest shares to the market growth in 2022. The key factors attributed to the growth of the segment include increasing trend of industry 4.0 and growing inclination of manufacturers towards process automation. Moreover, the growing interest of businesses in optimizing production capacity and garnering maximum benefit from production is driving the market growth of automation control components and devices in the manufacturing sector. For instance, connectors are utilized to establish secure connection for electrical and data transfer. Connectors are mainly employed for applications including wiring harness, PCB assemblies, industrial machinery, among others.  

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Based on region, North America region accounted for the largest revenue share in the year 2022. The adoption of automation control components and devices in North American region is primarily driven by factors including growth in advanced manufacturing, technological advancement, regulatory and safety compliance. North America has a strong and diverse manufacturing sector which relies on automation. In order to improve efficiency, reduce cost of production and maintain high quality of production, the region has adopted the technologies including automation, IIoT (Industrial Internet of Things), 5G network, and others.

Key Market Highlights

• Globally, automation control components and devices market is divided based on the type into relays/couplers, connectors, switches, and encoders/potentiometers.
• Based on end use, automation control components and devices market is segmented into automotive, mining and metals, energy and power, manufacturing, electronics and semiconductor, aerospace and defense, oil and gas, and others.
• The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
• Asia Pacific is estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in automation control components and devices market.

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List of Major Global Automation Control Components and Devices Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Delta Electronics, Inc.
• Rockwell Automation, Inc.
• Emerson Electric Co.
• ABB Limited
• Panasonic Corporation
• Control Components
• OMRON Corporation
• Baumer Limited
• Schneider Electric
• Encoder Products Company
• PHOENIX
• AMETEK, Inc.
• LUTZE Inc.
• General Electric
• Teledyne Technologies Incorporated
• MKS Instruments
• Honeywell International Inc.
• Siemens
• Mitsubishi Electric Corporation

Global Automation Control Components and Devices Market Segmentation: 

• By Type
  • Relays/Couplers
    • PhotoMOS
    • Power Relays
    • Signal Relays
    • Solid State Relays
    • PhotoIC Coupler
    • Others
  • Connectors
    • Coaxial Connectors
    • D-Sub Connectors
    • Fiber Optic Connectors
    • USB Connectors
    • Display Connectors
    • SCSI Connectors
  • Switches
    • Fall Detection Switches
    • Power Rocker Switches
    • Push Switches
    • Limit Switches
    • Non Sal Type Micro Switches
    • Others Switches
  • Encoders/Potentiometers
    • Encoders
    • Rotary Potentiometers
    • Position Sensors
• By End Use
  • Automotive
  • Mining and Metals
  • Energy and Power
  • Manufacturing
  • Electronics and Semiconductor
  • Aerospace and Defense
  • Oil and Gas
  • Others

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Recent Developments

• • In June 2022, PROVERTHA Connectors, Cables & Solutions GmbH expands its D-Sub portfolio to provide customer-specific solutions.

Key Questions Covered in the Automation Control Components and Devices Market Report

• What is Automation Control Components and Devices?

• Automation control components and devices refers to a range of electronic and mechanical elements used to manage and regulate automated processes in various industries.

• What is the dominating segment in the automation control components and devices market by end use?

• In 2022, manufacturing segment in end use accounted for the highest market share in the overall automation control components and devices market.

• Based on current market trends and future predictions, which geographical region will have the largest impact on automation control components and devices growth in the coming years?
  • North America accounted for the largest revenue share in the year 2022. The increasing demand for automation control components and devices from multiple industries including industrial processes, oil and gas, among others is driving the growth of the regional market.
• Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
  • Asia-Pacific is anticipated to register fastest CAGR of 11.2% during the forecast period due to rapid growth of manufacturing sector in the region.

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