Industrial automation refers to the use of technology and control systems to automate industrial processes and improve efficiency, productivity, and quality in manufacturing and other industries.
The global Industrial Automation Market was valued at USD 191.89 billion in 2021. During the forecast period, the market is expected to increase from USD 205.86 billion in 2022 to USD 395.09 billion in 2028, representing a CAGR of 9.8%. Industrial automation can involve various technologies, such as sensors, controllers, robotics, and artificial intelligence, and can be applied to a wide range of processes, including assembly, packaging, quality control, material handling, and more.
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The benefits of industrial automation include increased efficiency, improved quality, reduced labor costs, and increased safety. By automating repetitive or dangerous tasks, workers can focus on higher value-added activities that require human skills and judgment. Additionally, automation can improve the consistency and accuracy of production, leading to higher-quality products.
DRIVING FACTORS:
The industrial automation market has been growing steadily over the years, and there are several factors that have been driving this growth. Some of the key driving factors of the industrial automation market include:
Increasing demand for efficiency and productivity: Automation helps to streamline industrial processes, leading to increased efficiency and productivity. This is a key factor driving the adoption of industrial automation technologies.
Advancements in technology: There have been significant advancements in automation technology, including the development of machine learning and artificial intelligence, which have further increased the capabilities and potential of industrial automation.
Need for cost reduction: Industrial automation helps to reduce labor costs, minimize errors, and improve product quality, all of which can lead to cost savings for companies.
Competitive Analysis:
One of the key factors that can determine the competitiveness of companies in the industrial automation market is their market share. Companies with a larger market share are generally considered to be more competitive as they have a larger customer base and higher revenues.
The breadth and quality of a company’s product portfolio can also impact its competitiveness. Companies with a diverse range of products that are innovative and of high quality are often more competitive in the market.
List Of Key Companies Profiled:
- ABB (Switzerland)
- Emerson Electric Co. (U.S.)
- General Electric Company (U.S.)
- Honeywell International Inc. (U.S.)
- Mitsubishi Electric Corporation. (Japan)
- Omron Corporation (Japan)
- Rockwell Automation Inc. (U.S.)
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Segmentation:
Industrial automation refers to the use of technology and control systems to monitor and control various industrial processes. It includes a wide range of applications such as robotics, control systems, industrial sensors, and communication technologies. The industrial automation market can be segmented based on various factors, including:
By Component
- Hardware
- Software
By Control and Safety System
- Distributed Control System (DCS)
- Supervisory Control and Data Acquisition System (SCADA)
- Manufacturing Execution System (MES)
- Safety Instrumented System (SIS)
- Programmable Logic Controllers (PLC)
- Human Machine Interface (HMI)
By Industry
- Discrete Automation
- Process Automation
Recent Key Developments
- Increasing adoption of Industry 4.0: Industry 4.0 is a term used to describe the fourth industrial revolution, which involves the integration of digital and physical technologies to create a smart manufacturing environment. With the increasing adoption of Industry 4.0, the demand for industrial automation solutions has increased significantly.
- Advancements in Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are increasingly being used in industrial automation solutions to improve efficiency, reduce costs, and enhance productivity. For instance, predictive maintenance and quality control are two areas where AI and ML are being used extensively.
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Regional Data Analysis:
The industrial automation market is a highly dynamic and evolving sector, and its growth is fueled by increasing demand for improved productivity, efficiency, and cost reduction. The market is segmented by technology, component, industry, and geography. Here’s a regional data analysis of the industrial automation market:
North America is the largest market for industrial automation, with a significant share of the global market. The region’s growth is driven by the increasing adoption of Industry 4.0 and the Industrial Internet of Things (IIoT) in manufacturing industries.
Asia Pacific is the fastest-growing market for industrial automation, with China, Japan, and India being the major contributors. The region’s growth is driven by the increasing adoption of automation technologies across various industries, such as automotive, semiconductor, and electronics.
TABLE OF CONTENTS:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Industrial Automation Market
Chapter 5. Global Industrial Automation Market Overview, By Component, 2015 – 2028(USD Million)
Chapter 6. Global Industrial Automation Market Overview, By Control and Safety System, 2015 – 2028(USD Million)
Chapter 7. Global Industrial Automation Market Overview, By Industry, 2015 – 2028(USD Million)
Chapter 8. Global Industrial Automation Market Overview, By Geography, 2015 – 2028(USD Million)
Chapter 9. North America Industrial Automation Market Overview, By Countries, 2015 – 2028(USD Million)
Chapter 10. Europe Industrial Automation Market Overview, By Countries, 2015 – 2028(USD Million)
………Continued
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