Industrial Automation Market

Industrial Automation Market Size, Forecast (2023 – 2028)

The Global Industrial Automation Market size is predicted to witness steady growth thanks to a shift in trend from traditional techniques to digitized systems. The increasing need for the production of machinery supports the Industrial Automation Market to grow at 7.56% CAGR in the coming years.

Market Overview:

Automation is the use of data technology and control systems (computers and sets of devices) to exchange human operators to regulate industrial machinery, processes, and the building environment. Computer-controlled robots, which have the power to finish an equivalent process at a compatible top quality and controllable speeds, are utilized in many points of commercial production. The growing need for automated systems has increasingly shifted focus to optimization within the areas of security measures, efficiency, and low power consumption.

Increasing labor wages across industries and rising demand for practical solutions that will manage failure at the component level can drive the market. With an increasing requirement for industrial-grade products occurring in almost every sector, a high need for automation which will help mass-produce commodities is being felt everywhere in the world. This has caused a spike in the number of players entering the industrial automation market, which is undoubtedly expected to extend the competitive intensity during the coming years.

Recent Developments in Industrial Automation Industry:

• ABB acquires SVIA automation solutions. The acquisition combines SVIA's leading robotized machine tending solutions with ABB's globally leading position in industrial automation.
• B&R, a unit of ABB's Robotics and Discrete Automation business, announced the mixing of ABB robots into its automation portfolio. With the power to supply unprecedented levels of machine flexibility and precision, merging robotics with machine control into one unified architecture will enable manufacturers to embrace the trend of mass customization and optimize their lot size one processes.
• Emerson launched the most advanced Industrial Wireless Network Solution that joins the company's existing expertise in industrial automation and applications with Cisco's networking, cybersecurity, and IT infrastructure innovations. The new Emerson Wireless 1410S Gateway with the Cisco Catalyst® IW6300 Heavy Duty Series Access Point includes the latest wireless technology with advanced WirelessHART® sensor technology, delivering reliable and highly secure data, even within the harshest industrial environments.

Drivers and Restraints of Industrial Automation Market:

Drivers:

A sudden increase in fast production capacities in various industry verticals is primarily driving the growth in the global industrial automation market. There is a massive demand for such systems in terms of automotive assemblies, telecom networks, aircraft, heat treating boilers and ovens, factory machinery, steering, and ship stabilization, and other mechanical systems. Moreover, several companies are pouring vast sums of cash to facilitate research and developmental processes regarding industrial automation. Various industrial segments are implementing automation systems to scale back labor burden, consequently making the market grow at a good pace. Automation can also speed up the implementation of several innovative solutions, compared to manual processes.

Restraints:

Steep costs required to line up systems for machinery production, as expensive research and development activities are undertaken for an equivalent is significantly hampering the worldwide industrial automation market's growth. High installation and maintenance costs are, to some extent, are discouraging small-scale plants and industries from avoiding automation altogether. However, the lack of awareness about the benefits of automation in several regions too is posing a threat to the market in a few emerging economies.

MACHINE SAFETY MARKET REPORT COVERAGE:

Industrial Automation Market Segmentation:

By Automation Type 

• Distributed Control System (DCS)
• Programmable Logic Control System (PLC)
• Machine Vision System
• Manufacturing Execution System (MES)
• Human Machine Interface (HMI)
• Supervisory Control and Data Acquisition (SCADA) 
• Product Lifecycle Management (PLM) 
• Plant Asset Management 
• Computer Numerical Control (CNC) routers 
• Electronic Control Units (ECU)
• Others 

SCADA and DCS are the most prominent sectors across the global industrial automation market. The process industry holds a leading share within the market thanks to the high adoption of commercial control and factory automation to optimize the assembly process. Additionally, growing demand for real-time visibility and sophisticated operations in power, oil and gas, food and beverages, and mining industries is anticipated to spice up the need for industrial control and factory automation. Implementation of an automated process is complex in process industries than in the discrete sector. Thus, the deployment of control technologies, like a distributed system (DCS), is high within the process industry.

By Industry:

• Automotive and Transportation

• Metals and Mining

• Oil and Gas
• Pulp and Paper
• Hydro Power 
• Energy and Power System 
• Chemical, Material, and Food 
• Measurement and Instrumentation

The automotive and transportation segment is likely to expand with a noteworthy growth rate in the global industrial automation market in the next five years.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Share Insights Analysis:

North America's industrial automation market holds a key share within the global business and is predicted to witness notable growth within the years to come because of rising labor costs. High investments by petrochemical and chemical industries to determine a producing plant with new equipment can boost regional growth. Asia Pacific industrial automation market is anticipated to expand swiftly within the foreseen years to return thanks to supportive government policies and rapid industrialization. Moreover, increasing investments within the energy and power sector is anticipated to fuel the demand for industrial automation in this area. China and India are the prominent contributors to APAC regional market growth.

Key Players in the Market:

Major Key Players in the Global Industrial Automation Market are

• ABB LTD (Switzerland)
• Emerson Electric Co (U.S.)
• General Electric (U.S.)
• Honeywell International (U.S.)
• Seimens AG (Germany)
• Texas Instruments Inc. (U.S.)
• Schneider Electric (France)
• Yokogawa Electric CO. (Japan)