According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on Industrial Automation Market – Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
Global Industrial Automation Market Analysis and Size
The Global Industrial Automation Market size was valued at around USD 162 billion in 2023 and is expected to register a CAGR of around 10.8% during the forecast period, i.e., 2024-30.
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Some of the major players operating in the Industrial Automation Market are ABB Ltd., Dwyer Instruments, Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., Schneider Electric, Siemens AG, Yokogawa Electric Corporation, Fanuc Corporation, WIKA Gmbh, Stratasys, 3D Systems Corp., and Others.
Industrial Automation Market Growth Driver:
Increasing Implementation of Industrial IoT to Boost Market Value – The significance of IoT in industrial automation is boosting the market size worldwide as it facilitates the development and optimization of efficient, economical, and adaptable system frameworks. The integration of Industrial IoT (IIoT) solutions enables connectivity between industrial resources for swift transparency and heightened efficiency. IIoT in conjunction with edge computing simplifies device management throughout its lifecycle across manufacturing processes.
Several companies are implementing their own industrial IoT technology to enhance their efficiency, productivity, and overall performance. One such instance is Siemens, which developed its own industrial IoT offerings, such as MindSphere, Mendix, and IndustrialEdge that rely on automation technologies for insights derived from industrial data. Hence, organizations implement these technologies to streamline their operations while enhancing customer satisfaction. Consequently, there is a projected market growth trajectory due to the widespread adoption and implementation of IIoT within various industries.
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Market Segment and Geographical Analysis
By Component
- Field Devices
- Industrial Robots- Market Size & Forecast 2019-2030, (USD Million)
- Human Machine Interface (HMI)- Market Size & Forecast 2019-2030, (USD Million)
- Control Valves- Market Size & Forecast 2019-2030, (USD Million)
- Sensors- Market Size & Forecast 2019-2030, (USD Million)
- Industrial 3D Printing- Market Size & Forecast 2019-2030, (USD Million)
- Others (Machine Vision, Fields Instruments, etc.)- Market Size & Forecast 2019-2030, (USD Million)
- Industrial Control Systems
- Supervisory Control and Data Acquisition (SCADA)- Market Size & Forecast 2019-2030, (USD Million)
- Programmable Logic Controller (PLC)- Market Size & Forecast 2019-2030, (USD Million)
- Distributed Control System (DCS)- Market Size & Forecast 2019-2030, (USD Million)
- Manufacturing Execution System (MES)- Market Size & Forecast 2019-2030, (USD Million)
- Product Lifecycle Management (PLM)- Market Size & Forecast 2019-2030, (USD Million)
- Others (Industrial Safety, Plant Asset Management (PAM), etc.)- Market Size & Forecast 2019-2030, (USD Million)
By Level of Automation
- Semi-automatic- Market Size & Forecast 2019-2030, (USD Million)
- Fully Automatic- Market Size & Forecast 2019-2030, (USD Million)
By End User
- Automotive- Market Size & Forecast 2019-2030, (USD Million)
- Mining- Market Size & Forecast 2019-2030, (USD Million)
- Water & Wastewater Management- Market Size & Forecast 2019-2030, (USD Million)
- Electronic & Semiconductors- Market Size & Forecast 2019-2030, (USD Million)
- Energy- Market Size & Forecast 2019-2030, (USD Million) & Power
- Food & Beverages- Market Size & Forecast 2019-2030, (USD Million)
- Oil & Gas- Market Size & Forecast 2019-2030, (USD Million)
- Others (Pharmaceuticals, Chemicals, etc.) – Market Size & Forecast 2019-2030, (USD Million)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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