Industrial Automation Market will worth to USD 329.28 billion by 2029 : GreyViews

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Industrial Automation Market Size By Type (Fixed Automation and Programmable Automation), By Technology (SCADA, PAC, PLC, DCS and HMI), By End User (Machine Manufacturing, Oil & Gas, Aerospace & Defence, Electronics, Automotive, Pharmaceuticals and Others), Regions, Segmentation, and forecast till 2029.

Pune India, Dec. 20, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Industrial automation market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Industrial automation market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, technology, end user and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. 

The significant players operating in the global Industrial automation market are ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation among others. To achieve a substantial market share in the worldwide Industrial automation market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Industrial automation is the use of instruments like robots and computer software to operate machinery and processes that replace humans in performing specific activities. The primary focuses of the functions are manufacturing, quality control, and material handling practises. By extending workdays, industrial automation was first designed to boost output while decreasing the costs of keeping a substantial human workforce. These goals have evolved through time, and they now focus more emphasis on improving quality and adaptability. Industrial automation is commonly associated with the “fourth industrial revolution,” or Industry 4.0, which also encompasses the growth of the Industrial Internet of Things (IIoT). The objective of Industry 4.0 is to provide a platform for manufacturing that is more predictable, consistent, and efficient through improving production processes through the use of internet-enabled devices. Automated manufacturing processes can be more versatile since robots can be trained to do a new task more quickly than people can. The use of robots in the riskiest locations could make production lines safer for workers.

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Scope of Industrial automation market report

Report Metric Information
Study Period 2021-2029
Base Year           2021
Forecast Period 2022-2029
Market Share Unit USD Billion
Segments Covered Type, Technology, End User and Regions
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation among others

Segmentation Analysis

The fixed automation segment is expected to be the fastest-growing segment in 2021. 

The type segment includes Fixed Automation and Programmable Automation. The fixed automation segment is expected to witness the highest growth rate during the forecast period. Fixed automation is expected to experience significant growth in the market. Fixed automation, sometimes referred to as hard automation, is a computerised manufacturing facility where the layout of the machinery specifies the order in which the processing steps are carried out. Furthermore, establishing a fixed automation system, such as robotic conveyor systems, and including value-added efforts to save time and labour costs in their installation frees the company from competitive forces, boosts profit margins, and keeps users one step ahead of its competition. higher priority is placed on improving quality and adaptability.

The DCS segment is expected to be the fastest-growing segment in 2021. 

The technology segment includes SCADA, PAC, PLC, DCS and HMI. The DCS segment is expected to witness the highest growth rate during the forecast period. Because more and more chemical and petrochemical facilities employ DCS. This is due to their ability to control and monitor production-related variables like temperature, pressure, and flow rate.

The machine manufacturing segment is expected to be the fastest-growing segment in 2021. 

The end user segment includes Machine Manufacturing, Oil & Gas, Aerospace & Defence, Electronics, Automotive, Pharmaceuticals and Others. The machine manufacturing segment is expected to witness the highest growth rate during the forecast period. Due to automation, small American businesses may now compete directly with well-established foreign companies. If these companies had greater technological know-how and a more sound business plan, they might be able to continue offering premium items at affordable pricing. End-to-end automation will boost output by a factor of two or even three compared to facilities that just use a few automation technologies. Additionally, it is frequently possible to keep equipment operating for longer periods of time with little to no impact on the outlook for maintenance. This helps companies to outperform rivals who manufacture a lot of cheaper or subpar goods.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the industrial automation include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

  • The Asia Pacific region witnessed a major share. Industrial automation is commonly associated with the “fourth industrial revolution,” or Industry 4.0, which also encompasses the growth of the Industrial Internet of Things (IIoT). The objective of Industry 4.0 is to provide a platform for manufacturing that is more predictable, consistent, and efficient by improving production processes through the use of internet-enabled devices. Automated manufacturing processes can be more versatile since robots can be trained to do a new task more quickly than people can. The use of robots in the riskiest locations could make production lines safer for workers.

Country Analysis

  • Germany

Germany Industrial Automation market size was valued at USD 9.17 billion in 2021 and is expected to reach USD 22.70  billion by 2029, at a CAGR of 12% from 2022 to 2029. In particular, digital sectors like semiconductors, electronic components, data centres, and carbon-related businesses like lithium-ion batteries are expected to have a long-term increase in demand for Factory Automation products in Germany. Automation of the manufacturing process has many benefits, including simple monitoring, decreased waste, and increased productivity. Thanks to this technology, customers can now obtain reliable products of higher quality with uniformity, quicker turnaround times, and lower prices.

  • China

China’s Industrial Automation’ market size was valued at USD 8.40 billion in 2021 and is expected to reach USD 19.35 billion by 2029, at a CAGR of 11% from 2022 to 2029. China has greatly expedited the growth of automation across sectors by needing more sophisticated and automated technologies, such as robots and control systems, to improve production processes. China’s economy grew at an astounding rate as a result of its industrial competence and the government’s investments in machinery, infrastructure, and industries.

  • India

India’s Industrial Automation market size was valued at USD 7.64 billion in 2021 and is expected to reach USD 16.37 billion by 2029, at a CAGR of 10% from 2022 to 2029. In India’s industrial automation sector, optimal performance has been attained by combining the digital and physical aspects of manufacturing. The emphasis on achieving zero waste manufacturing and a speedier time to market has also assisted the industry’s expansion.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven by increasing implementation of artificial intelligence and industrial IoT.

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