Industrial Automation Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Industrial Automation Market is Segmented By Type (Programmable automation, Fixed automation), By Technique (Supervisory control and data acquisition (SCADA), Programmable Automation Controller, Programmable Logic Controller, Human Machine Interface, others), By Application (Automotive & Transportation, Pharmaceuticals, Food & Beverages, Machine Manufacturing, Electric power generation, aerospace & defense, Others (includes electrical & electronics)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis 2024-2031

Industrial Automation Market Overview

Global Industrial Automation market is estimated to grow at a CAGR of 9.6% during the forecast period 2024- 2031. 

• Industrial automation is defined as the use of automatic control devices and technology that results in the electronic control and operation of industrial processes without human interference and achieving superior performance than manual control used in various industries by using robotics and computer software.
• Industrial Automation is the replacement of humans with computers and machines. These automation devices include PCs, PLCs, PACs, and technologies include various industrial communication systems.

Industrial Automation Market Scope

For More Insights about the Market Request Free Sample

Industrial Automation Market Dynamics

• The principal characteristics of Industrial Automation such as increased productivity, less wastage, increased level of safety, optimum cost of operation, reduction of human errors, enhanced product quality, and reduction of routine checks are boosting the market.
• Moreover, sustainability, energy efficiency and smart technologies like IOT, machine learning are expected to drive the market growth.
• Industries implement automation to increase productivity and their benefits and other associated expenses while improving precision and flexibility. Growing industrial base and the rising number of companies are the primary reason for the growth of the market.
• The below statistic illustrates the information about the global factory automation market from 2017 to 2021. The global market for comprehensive factory automation is expected to propel by 3.5 % between 2019 and 2020.
• A few drawbacks of industrial automation are its installation and maintenance is very expensive, and opposition to industrialization by union people due to loss of employment is hindering the growth of the market.

Industrial Automation Market Segmentation Analysis

• Based on technology, the global industrial automation market has been segmented into supervisory control and data acquisition, human-machine interface, distributed control system, and others. Distributed control system occupied the dominant market share.
• The distributed control system handles the entire control system of a single automation system and the benefit of reducing the downtime and improving production by using optimal resources.
• Additionally, the distributed control system is used in the application of oil & gas industry benefits in increasing the exploration activities in oil fields. In addition to this, it also benefits the manufacturing plants by simplifying complex operations, ensuring decision integrity, and improving productivity.
• By mode of application, the global industrial automation market has been segmented into food & beverages, pharmaceuticals, automotive & transportation, machine manufacturing, aerospace, and others. Automotive & transportation hold a significant market share.
• This trend is estimated to continue during the forecast period. An increase in the use of automated systems by the industry players is majorly driving the market in the automotive and transportation sector.

Industrial Automation Market Geographical Share

• This report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and ROW.
• Among all these, the Asia Pacific occupied the dominant segment in the industrial automation market and is expected to grow at a CAGR of XX% in the forecast period owing to advancement in technologies along with integration with the current manufacturing environment. Additionally, the presence of manufacturing companies and developing economies of the Asian countries are contributing to the growth of the market.
• However, North America is expected to grow at a higher pace in the forecast period due to technological advancements in this region. For instance, according to a recent study by statista North American market for global factory automation reached USD 19.7 billion in 2018.

Industrial Automation Market Companies

• Prominent players in global Industrial Automation market are ABB Ltd, Bosch, Honeywell Solutions, FANUC Corporation, Emerson Electric, Voith GmbH, Schneider Electric, Mitsubishi Electric, Rockwell Automation Inc., Toshiba Machine Corporation Ltd, Yaskawa Electric, Yokogawa Electric Corporation, General Electric, and others.
• Most of these companies are making a massive investment in designing various cover glasses using different techniques. Product launches, partnerships, and expansions are expected some of the strategies adopted by players to increase the market share.
• For instance, in July 2018, GE joined with Microsoft Corporation to bring together information technology and operation technology to eliminate hurdles industrial companies face in advancing digital transformation projects.

Key Takeaways

• In April 2017, ABB joined IBM for industrial artificial intelligence solutions to improve the production lines by identifying critical faults during the manufacturing process.