In-Depth Analysis of the Global Industrial Automation Market: 2024-2030 Forecasts
According to the latest findings by MarkNtel Advisors, The Global Industrial Automation Market size was valued at USD 162 billion in 2023 and is estimated to grow at a CAGR of around 10.8% during the forecast period, i.e., 2024-30. The report provides an in-depth analysis of crucial aspects such as market trends, size, forecasts, growth factors, challenges, and competitor assessments. Conducting a thorough examination of the Industrial Automation Market, the report offers insights into recent developments and presents an overview of the market landscape.
Industrial Automation Market Segmentation Analysis:
Our research report meticulously explores the Industrial Automation Market, breaking it down into these key segments: By Component (Field Devices, [Industrial Robots, Human Machine Interface (HMI), Control Valves, Sensors, Industrial 3D Printing, Others (Machine Vision, Fields Instruments, etc.)], Industrial Control Systems, [Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control System (DCS), Manufacturing Execution System (MES), Product Lifecycle Management (PLM), Others (Industrial Safety, Plant Asset Management (PAM), etc.)], By Level of Automation (Semi-automatic, Fully Automatic), By End User (Automotive, Mining, Water Wastewater Management, Electronic Semiconductors, Energy Power, Food Beverages, Oil Gas, Others (Pharmaceuticals, Chemicals, etc.)), Others. Each segment, along with its subdivisions, undergoes a detailed breakdown to offer a comprehensive understanding of the market dynamics.
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Geographical Coverage:
Our research report on the Industrial Automation Market offers comprehensive coverage across different regions, including North America, South America, Europe, The Middle East Africa, Asia-Pacific. It provides detailed information on growth potential in each country and region, offering valuable insights for market stakeholders to strategically plan future operations and investments.
Global Industrial Automation Market 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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Competitive Landscape of Industrial Automation Market
The Industrial Automation market witnesses’ fierce competition driven by the participation of both foreign and domestic companies. Considerable investments in Research and Development (RD) have led to multiple innovations in the market. Companies with a global reach exert significant influence over the Industrial Automation market, and it is anticipated that several international players will expand their global presence in the coming years. To maintain competitiveness amidst rivals, vendors must prioritize the development of new technologies and strive to stay ahead of imminent breakthroughs. The report underscores key players in the market, namely:
- 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.
- Others
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Common Queries:
- What is the current trajectory of cost and profit estimations in the Industrial Automation Industry?
- How do factors like supply and consumption shape the landscape of the industry?
- In what ways do import and export considerations impact the dynamics of the Industrial Automation Industry?
- Which technological advancements are anticipated to shape the future of the Industrial Automation Market?
- Who are the noteworthy players highlighted in the Industrial Automation Market research report?
- What are the anticipated USD valuations and the CAGR for the forecasted years?
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