Industrial Automation Market Size, Share, Growth, and Industry Analysis, By Type (Computer Numerical Control (CNC) Routers, Machine Vision Systems, Manufacturing Execution Systems (MES), Plant Asset Management, Product Lifecycle Management (PLM), Programmable Logic Control Systems (PLC), Supervisory Control and Data Acquisition (SCADA) & Others), By Application (Automotive and Transportation, Chemical, Energy and Power System, Food, Environment and Bu

Updated On: 02 September 2024

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Industrial Automation market Report overview

The global Industrial Automation market size was USD 130.71 billion in 2023 and the market is projected to touch USD 258 billion by 2032, exhibiting a CAGR of 6.7% during the forecast period.

The industrial automation market is growing surprisingly owing to the developments in generation and the need for more efficiency and precision in manufacturing techniques. The wide range of solutions includes robotics, PLCs, SCADA structures, and MES, all combined for the optimization of the manufacturing process and enhancing the protection while reducing operational costs. The key packages, which are applied across a variety of industries, range from automotive and power to food and beverage and pharmaceutical sectors. Strategic investments in innovation and sustainability are influencing the fate of business process automation, by global rise and transformation.

COVID-19 Impact on Market Growth Restrained by Pandemic due to Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic swept in to hit the industrial automation market hard by disrupting deliver chains, inflicting delays within the transport of additives and systems. Lockdowns and regulations resulted in manufacturing unit shutdowns and decreased production capacities, hampering automation assignment timelines.

LATEST TRENDS

"Leveraging Edge Computing Integration to Propel Market Growth"

The Industrial Automation market is undergoing a number of critical developments. Artificial Intelligence (AI) and Machine Learning (ML) integration is improving predictive protection and optimizing manufacturing approaches. IoT adoption, for instance, drives the improvement of clever factories with interlinked devices that provide actual-time information and insights. Cloud computing makes scaled and distant management of automation structures upward. Sustainability practices and strength efficient solutions are also becoming key as industries goal to decrease their environmental effect.

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Industrial Automation MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Computer Numerical Control (CNC) Routers, Machine Vision Systems, Manufacturing Execution Systems (MES), Plant Asset Management, Product Lifecycle Management (PLM), Programmable Logic Control Systems (PLC), Supervisory Control and Data Acquisition (SCADA) & Others

• Computer Numerical Control (CNC) Routers: Based on type, the industrial automation marketplace can be divided into Computer Numerical Control (CNC) Routers. These are very vital in the automation of precision cutting and machining strategies of many different industries and hence, they offer enhanced accuracy, efficiency, and repeatability, consequently riding demand in sectors such as manufacturing, woodworking, and steel fabrication.
• Machine Vision Systems: Based on type, the Industrial Automation market can be classified under Machine Vision Systems. These systems have a major role in visible inspection and best control processes, lending superior accuracy, speed, and reliability.
• Manufacturing Execution Systems (MES): Based on type, the Industrial Automation marketplace can be segregated into Manufacturing Execution Systems (MES). MES can assist businesses in automating their manufacturing management and tracking in real time to enhance operational efficiency and ensure the best quality of the product.
• Plant Asset Management: Based on type, the Industrial Automation market can be segmented into Plant Asset Management. They are crucial in automating industrial asset tracking and maintenance to improve their reliability and reduce downtimes.
• Product Lifecycle Management (PLM): Based on kind, the marketplace for business automation can be segmented into Product Lifecycle Management (PLM). PLM systems automate and manipulate the entire lifecycle of a product right from designing to disposal, for that reason making the machine green and collaborative in all domain names.
• Programmable Logic Control Systems (PLC): Based on type, the commercial automation market may be classified into Programmable Logic Control Systems (PLC).

• Supervisory Control and Data Acquisition (SCADA): Based on type, the industrial automation market can be classified as Supervisory Control and Data Acquisition (SCADA).

• By Application

Based on application the market can be categorized into Automotive and Transportation, Chemical, Energy and Power System, Food, Environment and Building Technologies, Oil and Gas & Others.

• Automotive and Transportation: By application, the industrial automation market is divided into Automotive and Transportation. In this region, automation solutions optimize production strategies, improve automobile assembly, and enhance deliver chain management. Technologies like robotics and MES are highly used to improve efficiency, reduce charges, and ensure great production requirements.
• Chemical: By application, the industrial automation marketplace may be classified into Chemical. In this area, automation solutions beautify process manipulate, safety, and efficiency in chemical manufacturing. Technologies like PLCs and SCADA structures are used to display screen reactions, manage flows, and make sure regulatory compliance, leading to progressed product nice and operational reliability.
• Energy and Power System: By application, the marketplace of industrial automation could be classified into Energy and Power Systems. Automation technologies optimize the monitoring and control of power manufacturing and distribution. Solutions such as SCADA and Plant Asset Management embellish operational efficiency, reliability, and safety, helping manipulate complex electricity grids and ensuring steady power supply.
• Food: By application, the industrial automation market may be labeled as Food. Automation solutions in this space help smoothen processing, packaging, and exceptional manipulate. Technologies like robotics and Machine Vision Systems enhance production performance, make constant the product nice, and improve hygiene standards, thus helping to fulfill excessive demand and regulatory requirements.
• Environment and Building Technologies: By application, the industrial automation market can be segmented into Environment and Building Technologies. Automation solutions optimize strength control, HVAC systems, and environmental tracking in homes. Technologies such as SCADA and PLCs enhance gadget efficiency, decorate occupant comfort, and make sure of sustainable building operations by way of efficiently managing the assets and maintaining environmental needs.
• Oil and Gas: By application, the industrial automation marketplace may be labeled into Oil and Gas. Automation technology improves exploration, creation, and refining strategies. Solutions, such as SCADA and Plant Asset Management, optimize operations, enhance safety protection, and decrease fees through constant monitoring equipment, controlling techniques, and ensuring efficient aid control on this important area.

DRIVING FACTORS

"The Introduction of AI and ML to Drive the Market Advancement"

The introduction of AI and ML has totally revolutionised the industrial automation market growth, as improving predictive maintenance for better process optimization. By such developed AI algorithms, the prediction of equipment failure before the occurrence of such disasters is done by studying some big documents containing massive amounts of statistics from automated systems to lessen downtime and renovation charges. Models are perfected to achieve smooth operational performance based on learning from historical information and adapting to new developments. This technology allows smarter decision-making, greater optimal control, and more sustainable manufacturing processes, thus driving growth in sectors along with production, strength, and automobile.

"The Adoption of IoT Technologies to Expand the Market"

The adoption of IoT technologies is a key driver of the industrial automation market and helps develop smart factories with connected systems. IoT devices gather and transfer facts in real time from sensors and equipment collection, to give insights into operational performance that allow far-away tracking and manipulation. In this way, this connectivity increases operational efficiency, reduces downtime, and improves decision-making by providing a complete view of the manufacturing approaches. The readiness of statistics from multiple sources enables further optimization of available resources and brings streamlining to the supply chains, which henceforth widens the marketplace in huge varieties of industries.

RESTRAINING FACTOR

"The High Initial Funding and Implementation Costs Pose Potential Impediments to the Market Growth"

One of the major constraining factors within the industrial automation market is the high initial funding and implementation costs. Advanced automation technology, coupled with robotics, AI, and IoT structures, necessitates huge capital expenditure at the system, software, and infrastructure levels. SMEs are normally constrained by their economic ability, whereby it's quite hard to embrace those technologies. The complexity involved in the integration of new structures with current methods can lead to accelerated prices and extended implementation instances. Such economic and operational challenges deter funding, gradual down the full-size adoption of automation answers throughout quite a few industries.

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Industrial Automation MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to Dominate the Market due to its Advanced Technological Infrastructure and Huge Investments in R&D"

North America dominates the industrial automation market share. The domination is aided by the advanced technological infrastructure, large adoption rate of automation technologies, and huge investments in research and development. In applying today's automation solutions, such as robotics, artificial intelligence, and IoT, across several industries like manufacturing, energy, and automotive, North America, especially the United States, has taken the front seat. In addition to this, the presence of key automation era companies and a strong focus on innovation and performance help entrench regional leadership. Moreover, supportive government rules and projects in the field of virtual transformation also contribute to North America's dominant market function.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Market Landscape through Innovation and Global Strategy"

The key players in the industrial automation market drive innovation through research and development, augment capacities, and establish robust supply chains. They focus on integrating better technologies of automation, enhancing device efficiency and flexibility, and lowering operational costs. Strategic partnerships and investments in AI and IoT further reinforce this function in the marketplace and competitive advantage.

List of Market Players Profiled

• ABB (Switzerland)
• Bosch (Germany)
• Emerson Electric (U.S)

INDUSTRIAL DEVELOPMENT

July, 2024: Rockwell Automation, a key player that plays a vital role within the industrial automation marketplace. Recently, enhanced its positioning in the market by buying an artificial intelligence (AI) driven analytics company with the idea of boosting its capabilities in industrial information analytics to provide more advanced automation solutions and strengthen its market function in intelligent manufacturing. 

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Industrial Automation market from multiple angles, which also provides sufficient support to readers’ strategy and decision making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth. This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.