Industrial Automation Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

The global industrial automation market is set for a paradigm shift as end-user industries step up their investments to focus on increasing plant capacity with modular equipment and digital technologies. With a focus on digital transformation, there is an equal emphasis on improving reliability and efficiency of assets on site. Companies are investing in the industrial internet of things technologies, remote condition monitoring, and diagnostics to address unmet maintenance needs and emphasize predictive maintenance. Data has become the most strategic asset: success depends on how data is utilized. Automation majors have realigned their market strategies to capture opportunities offered by digitization.

Global Industrial Automation Market Dynamics

Industrial Automation Market Drivers

• Increasing reliance on real-time data examination and preventative analysis
• Rising adoption of robotic process automation in manufacturing operation
• Governments are launching strategic campaigns to strengthen the use of industry 4.0.
• The introduction of connected enterprises fuels the demand for industrial automation
• Concentrates on industrial automation for efficient utilization of resources

Industrial Automation Market Restraints

• High capital expenditures for industrial automation solution installation and maintenance
• A scarcity of skilled practitioners
• Requirement for regular maintenance and software upgrades

Industrial Automation Market Opportunities

• Steadily increasing need for safety compliance automation solutions
• Utilization of emerging technologies such as IIoT and cloud computing in industrial settings
• Advancement of machine learning and big data analytics

Industrial Automation Market Report Coverage

Market	Industrial Automation Market
Industrial Automation Market Size 2021	USD 189.7 Billion
Industrial Automation Market Forecast 2030	USD 430.9 Billion
Industrial Automation Market CAGR	9.7% During 2022 - 2030
Analysis Period	2018 - 2030
Base Year	2021
Forecast Data	2022 - 2030
Segments Covered	By Type, By Technology, By End-User, And By Region
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	Emerson Electric Co., ABB, Siemens, Schneider Electric, Endress Hauser Management AG, Yokogawa India Ltd., Honeywell International Inc., Azbil Corporation, Fuji Electric Co., Ltd, 3D Systems, Inc., HP Development Company, FANUC CORPORATION, Stratasys Ltd., Hitachi, Ltd., and Rockwell Automation, Inc.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

The application of advanced automation control systems is one of the critical reasons that will drive the industrial automation market in chemical and petrochemical industry. There is an increase in the need for fast and accurate systems in the process and discrete industries. This is resulting in the emergence of technologically advanced automation control systems. These systems have features such as faster processors and increased memory capacity. They are extensively used to perform complex production processes carried out in the chemical and petrochemical industry. Also, issues such as space limitation and process complexity with conventional PLCs can be overcome with the help of customized PLCs for small, medium, and large machines used in this industry.

Industrial Automation Market Segmentation

The global industrial automation market segmentation is based on the type, technology, end user, and geographical region.

Industrial Automation Market By Type

• Fixed Automation
• Programmable Automation

In terms of type, the market has been split into fixed automation and programmable automation. According to the industrial automation industry analysis, the fixed automation segment is expected to increase at a significant rate in the market over the next few years. Fixed automation, also referred to as hard automation, relates to a computerized manufacturing facility in which the order of processing processes is determined by the machinery setup. Furthermore, implementing a fixed automation system, such as robotic conveyor systems, and incorporating value-added initiatives to minimize both time and labor costs in their installation, relieves competitive forces on the business, rises profit margins, and keeps users one step ahead of its competitors.

Industrial Automation Market By Technology 

• SCADA
• PAC
• PLC
• DCS
• HMI

The DCS segment will account for the significant share of the industrial automation market in chemical and petrochemical industry due to the growing adoption of DCS in chemical and petrochemical plants. This is due to their ability to control and monitor process variables such as temperature, pressure, and flow rate through the production process.

Industrial Automation Market By End User

• Machine Manufacturing
• Oil & Gas
• Aerospace & Defense
• Electronics
• Automotive
• Pharmaceuticals
• Others

In terms of end users, machine manufacturing segment is predicted to witness a gradual growth over the forecast amount.  Automation empowers small American businesses to stand toe-to-toe with entrenched rivals around the globe. With greater technical know-how and stronger strategy, these firms can continue to produce quality goods at reasonable costs. End-to-end factory automation will double or even triple production compared to plants that use only a few automation systems. Not only that, but equipment can often be kept running for longer periods of time with comparatively very little impact on the maintenance outlook. This lets companies outperform even rivals with a lot of simpler or low-quality goods.

Industrial Automation Market Regional Outlook