The global industrial automation market size accounted for USD 189.7 Billion in 2021 and is predicted to be worth USD 430.9 Billion by 2030, with a CAGR of 9.7% during the projected period from 2022 to 2030.
Global Industrial Automation Market Dynamics
Industrial Automation Market Drivers
Industrial Automation Market Restraints
Industrial Automation Market Opportunities
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|
|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.|
||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
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
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
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
Middle East & Africa
In 2021, Asia- Pacific Dominated the Regional Market with a Maximum Market Share
Asia- Pacific accounted for the high market share of the global industrial automation market and the region is also expected to maintain its dominance over the forecast period. Some major factors contributing to this growth are due to the economic growth in nations such as India and Indonesia. The growing application areas on a yearly basis. Advancement in technologies along with integration with current manufacturing environment is predicted to stimulate the market growth. Moreover, the presence of manufacturing companies and developing economy of the Asian countries is likely to contribute to the growth of the market throughout the assessment period.
Industrial Automation Market Players
Some of the prominent global industrial automation market companies are 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.
The global industrial automation market size in 2021 was accounted to be USD 189.7 Billion.
The projected CAGR of industrial automation during the analysis period of 2022 to 2030 is 9.7%.
The prominent players of the global industrial automation market involve 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.
Asia-Pacific held the dominating share for industrial automation during the analysis period of 2022 to 2030.
North America region exhibited fastest growing CAGR for industrial automation during the analysis period of 2022 to 2030.
Increasing reliance on real-time data examination and preventative analysis and rising adoption of robotic process automation in manufacturing operation are the prominent factors that fuel the growth of global industrial automation market.
Based on end user, automotive segment hold the maximum share for industrial automation market in 2021.