REDDING, Calif., May 2, 2024 /PRNewswire/ -- According to a new
market research report titled, 'Industrial Automation
Market By Offering (Solutions (Enterprise-level
Controls, Plant Instrumentation, Plant-level Controls), Services),
Mode of Automation, End-use Industry (Oil & Gas, Automotive,
Food & Beverage), and Geography - Global
Forecasts to 2031,' the industrial automation
market is expected to reach $368.05
billion by 2031, at a CAGR of 9.1% from 2024 to 2031.
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Industrial automation uses control systems, management
solutions, and IT solutions & technologies to handle various
processes in industries where humans are replaced with computers
and machines to achieve efficiency and productivity. Industrial
automation can also be defined as using automation technologies and
control devices to automate the operation & control of
industrial processes. Industrial automation uses control systems
and equipment, such as computer software and robots, to perform
tasks that were historically done manually.
Industrial automation plays a crucial role in various
industries, such as manufacturing, automotive, pharmaceuticals,
food and beverage, aerospace, and others. It helps improve product
quality, reduce production time, minimize waste, and enhance worker
safety. The market growth is driven by government initiatives
promoting industrial development, increasing investments in
industrial automation, rising demand for energy-efficient systems,
and increasing need for supply chain optimization. However, high
CAPEX requirements and concerns about workforce displacement
restrain the market's growth. Moreover, the increasing demand for
sustainable solutions is expected to create market growth
opportunities.
The industrial automation market is segmented by offering, mode
of operation, end-use industry, and geography. The study also
evaluates industry competitors and analyses the market at the
regional and country levels.
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Based on offering, the global industrial automation
market is segmented into solutions and services. In 2024, the
solutions segment is expected to account for the larger share of
the global industrial automation market. This segment is expected
to contribute a revenue of around USD 172
billion to the global industrial automation market
in 2024. The solution segment is further segmented into plant
instrumentation, plant-level controls, and enterprise-level
controls. The large market share of this segment is attributed to
the high adoption of enterprise resource planning (ERP),
supervisory control and data acquisition (SCADA), product lifecycle
management (PLM), distributed control systems (DCS) solutions for
streamlining the production & enterprise processes across the
manufacturing & industrial sectors, increasing demand for data
analytics and predictive maintenance capabilities to optimize
operations, reduce downtime, and improve overall equipment
effectiveness (OEE), growing need to reduce operational costs and
optimize resource utilization, and the emergence of Industry 4.0
& enabling technologies.
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Based on mode of automation, the global industrial
automation market is segmented into semi-automatic systems and
fully-automatic systems. In 2024, the semi-automatic systems
segment is expected to account for the larger share of
52% of the global industrial automation market. The
large market share of this segment is attributed to the lower cost
of implementation compared to fully-automatic systems, the
increasing need for a higher degree of flexibility between manual
and automated processes, and the growing need for monitoring
industrial systems closely and intervening promptly in cases of
anomalies that lead to costly downtime or quality issues. However,
the fully-automatic systems segment is projected to register the
highest CAGR during the forecast period.
Based on end-use industry, the global industrial
automation market is segmented into oil & gas, automotive,
food & beverage, semiconductors & electronics, chemicals
& materials, consumer goods, mining & metals, power,
pharmaceuticals & biotech, machines & tools, paper &
pulp, aerospace & defense, and other end-use industries. In
2024, the oil & gas segment is expected to account for the
largest share of the global industrial automation market. This end
use industry segment is expected to contribute a revenue of around
USD 32 billion to the overall
market in 2024. The large market share of this segment is
attributed to the growing need to streamline operations across the
entire value chain of oil & gas production, increasing demand
for automated monitoring systems to minimize environmental impact
and enhance safety, and the growing need to prevent unplanned
downtime, extend asset lifespan, and reduce maintenance costs.
However, the automotive segment is projected to register the
highest CAGR of 11.7% during the forecast period.
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Based on geography, the global industrial automation
market is segmented into North
America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific region is expected to dominate
the global market. The Asia-Pacific industrial automation market is
estimated to be worth USD 79
billion in 2024. Additionally, the region is also
projected to register the highest CAGR of 9.8% during the
forecast period due to rapid industrialization and urbanization,
increasing adoption of smart manufacturing solutions in the region,
the increasing adoption of industrial robots, the advent of
Industry 4.0, expansion of automotive industry, increasing need to
enhance productivity, efficiency, and competitiveness in
manufacturing sectors such as automotive, electronics, machinery,
and consumer goods, increasing technological advancements in
robotics, artificial intelligence, IoT, and growing need to
automate production processes to reduce reliance on manual labor
and remain cost-competitive.
The report also includes an extensive assessment of the key
growth strategies adopted by the leading market participants in the
last three to four years. The key players operating in the
ondustrial automation market are ABB Ltd (Switzerland), Rockwell Automation Inc. (U.S.),
Siemens AG (Germany), Yaskawa
Electric Corporation (Japan),
Schneider Electric SE (France),
Yokogawa Electric Corporation (Japan), KUKA AG
(Germany), Emerson Electric Co.
(U.S.), FANUC CORPORATION (Japan),
Honeywell International Inc. (U.S.), Mitsubishi Electric
Corporation (Japan), OMRON
Corporation (Japan), Advantech
Co., Ltd. (Taiwan), Hitachi Ltd.
(Japan), and General Electric
Company (U.S.).
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Scope of the Report:
Industrial Automation Market Assessment—by Offering
- Solution
- Enterprise-level Controls
- Product Lifecycle Management (PLM)
- Enterprise Resource Planning (ERP)
- Manufacturing Execution Systems (MES)
- Plant Instrumentation
- Motors & Drives
- Robots
- Articulated Robots
- Cartesian Robots
- SCARA
- Collaborative Robots
- Other Robots
- Sensors
- Machine Vision Systems
- Cameras
- Optics and LED Lighting
- Relays & Switches
- Other Plant Instrumentation Components
- Plant-level Controls
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control Systems (DCS)
- Programmable Logic Controllers (PLC)
- Other Plant-level Controls
- Services
- Integration & Installation Services
- Maintenance & Support Services
- Advisory, Training, & Consulting Services
- Safety & Security Services
Industrial Automation Market Assessment—by Mode of
Automation
- Semi-automatic Systems
- Fully-automatic Systems
Industrial Automation Market Assessment—by End-use
Industry
- Oil & Gas
- Upstream
- Midstream
- Downstream
- Chemicals & Materials
- Paper & Pulp
- Pharmaceuticals & Biotech
- Mining & Metals
- Food & Beverage
- Beverages & Distilleries
- Dairy Processing
- Bakery & Confectionary
- Meat, Poultry, and Seafood Products
- Fruits & Vegetables
- Oil & Fats
- Other F&B Applications
- Power
- Consumer Goods
- Automotive
- Machines & Tools
- Semiconductors & Electronics
- Aerospace & Defense
- Other End-use Industries
Industrial Automation Market Assessment—by
Country/Region
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- Italy
- Netherlands
- Sweden
- France
- Spain
- Rest of Europe
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Rest of Middle East &
Africa
Related Report:
SCADA Market by Type (Monolithic SCADA Systems, Distributed
SCADA Systems, Networked SCADA Systems), Component (Hardware,
Software, Services), Deployment Mode, End-use Industry (Oil &
Gas, Automotive, F&B), and Geography - Global Forecast to
2030
Human Machine Interface (HMI) Market by Offering (Hardware
(Display Units, Others), Software, Services), Configuration
(Connected, Web-based), End-use Industry (Oil & Gas,
Automotive, F&B, Others), & Geography - Global Forecast to
2031
Collaborative Robots Market by Type, Component (Hardware,
Software), Payload, Application (Material Handling, Welding &
Soldering, Assembling and Disassembling), and End-use Industry (Oil
& Gas, Automotive, Food & Beverage) - Global Forecast to
2030
Manufacturing Execution Systems Market by Offering
(Software, Services), Deployment Mode, Process Industry, Discrete
Industry and Geography—Global Forecast to 2030
Smart Factory Market by Component (Solutions, Services,
Technologies), Sector (Automotive, Heavy Machinery & Tools,
Aerospace & Defense, Metals & Mining, Electronics &
Semiconductors, Pharmaceuticals), and Geography - Global Forecast
to 2030
Industrial Automation Software Market by Product (SCADA,
DCS, MES, HMI, PLC, IT and Software Environment Integration
Solutions, Production Process Test Systems), Deployment Type, End
User, and Geography - Global Forecast to 2029
Packaging Automation Market by Offering, Type (Robotic Pick
& Place, Secondary Packaging, Tertiary & Palletizing),
End-use Industry (Healthcare & Pharmaceuticals, E-Commerce
& Logistics, Food & Beverage), and Geography - Global
Forecast to 2030
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