TOKYO, Aug. 04, 2022 (GLOBE NEWSWIRE) — The Global industrial automation market The size was worth USD 189.7 billion in 2021 and is expected to be worth USD 430.9 billion by 2030, growing at a CAGR of 9.7% over the projected period of 2022 to 2030.
The industrial automation market is growing rapidly owing to the widespread acceptance of automation technology in various industries such as oil and natural gas, automotive, petrochemical and materials manufacturing, chemical and pharmaceutical sectors. Recently, companies can significantly reduce their operational and labor expenses by implementing automation technologies such as sensing devices, robotics, machine vision systems, as well as process control solutions. company. Furthermore, the growing use of automation and robotics technologies in manufacturing and service industries to meet complex consumer expectations is expected to propel the expansion of the industrial automation market.
Industrial automation is the integration of all processing systems, machinery, testing facilities, as well as factories that have become automated due to rapid technological advancements. These technologies and platforms are supported by advanced technologies such as deep learning, cloud-based services, robots and others. Some manufacturers are focusing on adopting and implementing industrial automation technologies to increase overall productivity, train their staff, and reduce exorbitant expenses while achieving accuracy and survivability. Automation in industrial sectors helps the organization and manufacturers to increase production, increase performance and reduce errors. Additionally, the automation technology prevalent in the manufacturing environment such as modern software applications and instruments help in the collection of reliable data, statistics and statistics that can be used to make intelligent decisions, resulting in significant cost reductions.
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|Market||industrial automation market|
|industrial automation Market size 2021||$189.7 billion|
|industrial automation Market Forecast 2030||$430.9 billion|
|Industrial Automation Market CAGR||9.7% from 2022 to 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, Middle East and Africa|
|Profiled Key Companies||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 cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Global industrial automation market dynamics
Rising demands for quality real-time data analytics across all territories, along with increasing use of advanced technologies in end-use sectors to improve efficiency and performance, is driving the expansion of the market . The growing need for periodic inspections and sophisticated data analytics, which would give companies increased visibility into their manufacturing operations and hence increase productivity, is the major driver of the industrial automation market. Additionally, growing reliance on process automation and capital management systems, which would give users better visibility into the status of equipment, is driving the demand for the industrial automation market. The effective exchange of information between the organizational divisions of the industry enables the most efficient conversion of raw materials into finished products, emphasizing the structure of connected enterprises as the main driver of the industrial automation market .
Impact of COVID-19
The latest global coronavirus (COVID-19) outbreaks have significantly affected industrial sectors across the world. In addition to accelerating the de-globalization of the industry, COVID-19 has had a significant negative impact on logistics issues. Companies have challenges ranging from sourcing raw materials to distributing finished products to diverting workers from prevention measures. As a result of this circumstance, automation was presented as the only viable option. Due to pandemic-related transportation issues, companies have considered locating more production for themselves as well as their consumers. By improving productivity, new technological advances encourage de-globalization by offsetting higher wages. As a result, industries around the world are increasing their spending on automation. However, in recent years, automation is being implemented in developed countries like the United States and Germany to boost trade.
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Significant growth in manufacturing sectors globally is driving the industrial automation market.
Manufacturing industries are expected to continue to evolve in the coming years, with a shift from manual intervention to automated processes driving market demand. For little or no human intervention, the majority of contemporary industrial processes are already automated. Automation solutions are considered essential because traditional industrial processes are unable to meet contemporary demands. Additionally, favorable government regulations for the manufacturing sector, along with an increased focus on socio-economic development in emerging countries, are two significant growth drivers fueling the industrial automation market.
The global industrial automation market has been segmented by Acumen Research and Consulting on the basis of type, technology, and end user. In type, the segment is separated into programmable automation and fixed automation. In terms of technology, the market is divided into SCADA, DCS, PAC, HMI, and PLC. In terms of end user, the segment is categorized into machinery manufacturing, aerospace & defense, automotive, oil & gas, pharmaceuticals, electronics and others.
Regional outlook of the global industrial automation market
The global industrial automation market is divided into five regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. According to the industrial automation market report, Asia-Pacific is expected to be the leading region in the global market in the coming years. This expansion can be attributed to the existence of large industrial sectors in these regions. Asian countries, especially China, India and Japan, are major manufacturers and end consumers of robotic systems, sensor systems and computer sensor systems. Additionally, India, Japan, and South Korea have thriving consumer goods, automotive, electronics, and pharmaceutical industries. Additionally, government initiatives and legislation promoting the modernization of manufacturing facilities, as well as spending in the IIoT, are significant factors influencing the growth of the industrial automation market in these countries.
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Industrial automation market players
Some of the major companies in the industrial automation market are ABB, Siemens, Endress Hauser Management AG, Hitachi, Ltd., Honeywell International Inc., Schneider Electric, Fuji Electric Co., Ltd, HP Development Company, Stratasys Ltd., Emerson Electric Co., Yokogawa India Ltd., 3D Systems, Inc., FANUC CORPORATION, Azbil Corporation and Rockwell Automation, Inc.
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Mr. Richard Johnson
Acumen Research and Consulting
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