The global Industrial Automation market size was valued at USD 248.82 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 8.5% during the forecast period, reaching a value of USD 399.22 billion by 2030.
Industrial Automation market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Industrial Automation is the application of technology and control systems to streamline and enhance industrial processes. It involves the use of various devices, sensors, and machinery to automate tasks that were once performed by human operators. This transformation has revolutionized industries by improving efficiency, reducing human error, and ultimately boosting productivity. From manufacturing to logistics, Industrial Automation has become an integral part of modern businesses, leading to increased precision and consistency in operations.
At its core, Industrial Automation aims to optimize processes by minimizing manual intervention. It empowers industries to adapt to rapidly changing demands and maintain competitiveness. This technology-driven approach fosters greater precision and flexibility in production, making it a cornerstone of modern manufacturing. Industrial Automation, while offering numerous benefits, also presents challenges, such as ensuring cybersecurity and maintaining a skilled workforce capable of managing these advanced systems. In today's dynamic business landscape, understanding and embracing Industrial Automation is essential for companies looking to thrive in the digital age.
MARKET DYNAMICS:
Industries across the board are increasingly turning to automation to reduce costs, enhance productivity, and ensure consistent product quality. This drive for efficiency is further catalyzed by the need to meet growing consumer demands for faster delivery, higher customization, and sustainable production. Additionally, the rising importance of safety in industrial environments has prompted the adoption of automation to minimize human exposure to hazardous tasks, making it a strong driver in the market.
Despite its numerous advantages, the Industrial Automation market faces certain restraints. One of the primary challenges is the high initial investment required for implementing automation solutions. Smaller businesses may find it financially burdensome to embrace these technologies, limiting their adoption in certain sectors. Moreover, concerns over cybersecurity and the potential for automation-related job displacement create hesitation in some industries. Nonetheless, this landscape also presents significant opportunities, such as the development of cost-effective and scalable automation solutions, the emergence of innovative technologies like collaborative robots, and the ongoing need for skilled professionals to design, operate, and maintain automated systems.
INDUSTRIAL AUTOMATION MARKET SEGMENTAL ANALYSIS
BY TYPE:
Hardware components, such as sensors, controllers, and robotic systems, play a pivotal role in the automation ecosystem. They form the backbone of the Industrial Automation infrastructure, providing the physical means to control and monitor industrial processes. The continuous advancements in hardware technologies, including the development of more precise sensors and versatile robotic systems, are significant drivers in this segment.
Software is another essential element within the Industrial Automation market. It comprises control systems, programming languages, and data analytics tools that enable the coordination and management of automated processes. As industries increasingly seek more intelligent and data-driven solutions, the demand for sophisticated software is on the rise. Software solutions facilitate real-time monitoring, predictive maintenance, and the integration of industrial systems, making them a key factor in the market's growth.
In addition to Hardware and Software, the Services segment is instrumental in the Industrial Automation market. Services encompass a wide range of offerings, including consulting, maintenance, training, and technical support. They play a crucial role in ensuring the smooth operation of automation systems. As companies seek to optimize their automation investments, the demand for specialized services that can tailor automation solutions to meet specific needs is growing.
BY HARDWARE:
Industrial Automation relies on a wide array of hardware components, each contributing significantly to the market's growth. Industrial sensors are at the forefront, serving as the eyes and ears of automated systems. They monitor variables like temperature, pressure, and motion, providing real-time data that drives decision-making and enhances process control. Alongside sensors, Machine vision systems are key players, enabling automated inspection and quality control, particularly in manufacturing. The increasing need for precision and quality assurance bolsters the demand for these systems.
Field instruments, including devices like flow meters, pressure transmitters, and level sensors, are critical elements within the Industrial Automation hardware landscape. They help in measuring and controlling various process parameters, ensuring optimal production and safety. Industrial robots, another dominant factor, are revolutionizing manufacturing industries. These machines, equipped with advanced programming and mobility, are driving efficiency, consistency, and cost reduction in various sectors. Human machine interface (HMI) devices, such as touchscreens and control panels, are bridging the gap between operators and automated systems, enhancing ease of use and efficiency.
Industrial PCs, along with other hardware components, act as the brains behind automation systems. These PCs facilitate data processing, control logic execution, and communication between different automation devices. The synergy of these hardware components in Industrial Automation ensures smooth, efficient, and cost-effective industrial processes. The market for these hardware components is poised for growth as industries increasingly adopt automation to stay competitive, improve productivity, and meet quality standards.
BY SOFTWARE TYPE:
Software components are pivotal in the Industrial Automation market, each serving distinct roles and contributing to its growth. Supervisory Control and Data Acquisition (SCADA) systems provide real-time monitoring and control, enabling operators to oversee and manage industrial processes efficiently. The increasing demand for improved operational visibility and data-driven decision-making is propelling the adoption of SCADA systems across various industries. As the need for automation and control grows, SCADA remains a dominant factor in the software segment.
Programmable Logic Controllers (PLCs) are another essential element in the Industrial Automation landscape. They serve as the digital brains of automated systems, executing control logic and managing inputs and outputs. PLCs are critical in manufacturing, process control, and other applications, offering flexibility and reliability. Distributed Control Systems (DCS) also play a significant role, particularly in large-scale industrial processes. DCS enables the efficient control and monitoring of complex operations, contributing to enhanced productivity and safety.
Manufacturing Execution Systems (MES), Industrial Safety software, and Plant Asset Management (PAM) solutions round out the software segment. MES facilitates production management and optimization, making it an integral part of manufacturing operations. Industrial Safety software focuses on safeguarding personnel and assets, addressing a growing concern for safety in the industry. PAM systems are crucial for monitoring and maintaining industrial assets, ensuring longevity and optimal performance.
BY INDUSTRY VERTICAL:
In the Oil & Gas sector, automation plays a vital role in optimizing exploration, production, and distribution processes. Automation solutions improve safety and efficiency, driving their adoption in this industry. In the Manufacturing sector, automation is synonymous with precision and productivity. The integration of industrial robots and advanced control systems transforms manufacturing operations, leading to higher output and consistent product quality.
The Automotive industry has witnessed significant automation adoption as it strives for precision and cost-efficiency. Automation technologies in automotive manufacturing encompass robotic assembly lines and intelligent systems for quality control. In Healthcare, the demand for precision and patient safety has fueled the use of automation in diagnostics and patient care, impacting everything from diagnostics to drug manufacturing. Meanwhile, the Food & Beverages sector utilizes automation for streamlined production and packaging, ensuring adherence to stringent quality and hygiene standards.
The Chemicals, Energy & Power, and Metal & Mining sectors also experience substantial transformation due to industrial automation. In the Chemicals industry, automation ensures precise batch processing and hazard monitoring, enhancing safety and productivity. In the Energy & Power sector, automation contributes to more efficient energy generation, transmission, and distribution. In Metal & Mining, automation streamlines the extraction and processing of minerals, increasing resource utilization and safety.
BY APPLICATION:
Process Control, for instance, plays a pivotal role in industries such as chemical processing and oil refineries. It involves managing and optimizing complex processes to ensure quality, safety, and efficiency. The demand for accurate and real-time process control systems continues to propel this segment's significance within the market.
Discrete Automation is another vital application in the industrial landscape, particularly in manufacturing sectors. It involves automating discrete tasks, like assembly and packaging, using technologies such as robots and automated conveyor systems. The pursuit of higher production efficiency and product consistency underlines the importance of discrete automation, making it a dominant factor in the Industrial Automation market.
Motion Control, Robotics, Machine Vision, Industrial Safety, and Asset Management applications also hold prominence. Motion Control systems are critical for precise movement in industrial processes, contributing to productivity and product quality. Robotics, with its applications in tasks ranging from manufacturing to healthcare, drives automation adoption. Machine Vision systems enhance quality control and inspection. Industrial Safety applications focus on safeguarding workers and assets. Asset Management solutions ensure the efficient use and maintenance of industrial assets.
REGIONAL ANALYSIS:
In North America, a highly developed and technology-savvy region, the market thrives on a strong emphasis on automation in manufacturing and process industries. With a focus on improving operational efficiency and reducing labor costs, North American industries have been early adopters of automation technologies. Europe, known for its advanced manufacturing capabilities, is a significant player in the Industrial Automation market. The region's robust industrial base and commitment to sustainability drive investments in automation for energy-efficient and eco-friendly production processes.
In the Asia Pacific, industrial growth and digitalization are propelling the demand for automation. Countries like China, Japan, and South Korea are investing heavily in Industrial Automation to meet the demands of their vast manufacturing sectors. Moreover, Latin America is witnessing steady growth in automation, particularly in sectors such as automotive manufacturing and oil and gas.
COVID-19 IMPACT:
As industries grappled with disruptions to supply chains, labor shortages, and restrictions on physical operations, the importance of automation became more evident than ever. In response to the need for social distancing and reduced human interaction, many companies accelerated their adoption of automation technologies, particularly in manufacturing and logistics. Industrial robots and autonomous systems gained prominence, enabling businesses to maintain production while safeguarding their workforce.
Conversely, some sectors experienced a temporary downturn due to reduced demand during the pandemic, affecting the automation market differently across industries. However, overall, the pandemic served as a catalyst for realizing the potential of Industrial Automation in ensuring business continuity, enhancing efficiency, and ensuring operational resilience.
INDUSTRY ANALYSIS:
Mergers & Acquisitions
- Siemens acquires Mendix for $730 million to expand its low-code/no-code software capabilities.
- ABB acquires ASTI Mobile Robotics for $285 million to strengthen its portfolio of autonomous mobile robots.
- Rockwell Automation acquires Plex Systems for $2.2 billion to expand its cloud-based manufacturing execution system (MES) offerings.
- Schneider Electric acquires Aveva for $10 billion to create a leading global provider of industrial software.
Product New Launches
- Rockwell Automation launches its new Allen-Bradley PLCs, which offer faster performance, improved cybersecurity, and easier integration with cloud-based systems.
- Siemens introduces its new Simatic S7-1500 PLCs, which are designed for complex automation applications and feature integrated safety and security features.
- ABB launches its new IRB 6700 collaborative robots, which are designed to work safely alongside human workers.
- Schneider Electric introduces its new EcoStruxure Augmented Operator Advisor, which uses augmented reality to help operators visualize data and improve efficiency.
KEY MARKET PLAYERS:
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Rockwell Automation, Inc.
- Honeywell International Inc.
- Mitsubishi Electric Corporation
- Emerson Electric Co.
- General Electric Company
- Yokogawa Electric Corporation
- Omron Corporation
- Fanuc Corporation
- Johnson Controls International plc
- Keyence Corporation
- Bosch Rexroth AG
- Schneider Electric
- Danaher Corporation
- Parker-Hannifin Corporation
- Rockwell Collins
- Yaskawa Electric Corporation
- Teledyne Technologies Incorporated
- Endress+Hauser AG
- Pilz GmbH & Co. KG
- Hitachi, Ltd.
- National Instruments Corporation
- Advantech Co., Ltd.
- others
Table of Contents
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Introduction
- A brief overview of the Industrial Automation market
- The importance of automation in modern industries
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Historical Development
- The evolution of industrial automation
- Key milestones in automation history
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Market Size and Growth
- Current market size and trends
- Projections for future growth
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Key Players in the Industry
- Profiles of major companies in industrial automation
- Their contributions to the field
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Types of Industrial Automation
- Overview of automation technologies
- Examples of automation in different industries
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Benefits of Industrial Automation
- Efficiency improvements
- Cost savings and increased productivity
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Challenges and Risks
- Potential issues with automation
- Addressing security concerns
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Industry 4.0 and Automation
- The role of Industry 4.0 in shaping automation
- Integration of IoT and AI in industrial processes
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Case Studies
- Real-world examples of successful automation implementations
- Lessons learned from these cases
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Future Trends
- Emerging technologies in industrial automation
- Predictions for the future of the industry
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Conclusion
- Summary of key points
- The significance of industrial automation in the modern world
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References
- Citing sources and further reading
Industrial Automation Market Segmentation
By Type
- Hardware
- Software
- Services
By Hardware
- Industrial sensors
- Machine vision systems
- Field instruments
- Industrial robots
- Human machine interface
- Industrial PCs
- Others
By Software Type
- Supervisory control and data acquisition (SCADA)
- Programmable logic controller (PLC)
- Distributed control system (DCS)
- Manufacturing execution system (MES)
- Industrial safety
- Plant asset management (PAM)
By Industry Vertical
- Oil & gas
- Manufacturing
- Automotive
- Healthcare
- Food & beverages
- Chemicals
- Energy & power
- Metal & mining
- Others
By Application
- Process control
- Discrete automation
- Motion control
- Robotics
- Machine vision
- Industrial safety
- Asset management
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
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With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Industrial Automation Market Dynamic Factors
Drivers
- Rising demand for automation to improve productivity and efficiency.
- Increasing adoption of industrial IoT (IIoT) and other digital technologies.
- Growing need for automation to improve safety and compliance.
- Expanding manufacturing sector in developing countries.
Restraints
- High initial investment costs.
- Lack of skilled workforce.
- Cybersecurity concerns.
- Complex integration challenges.
Opportunities
- Growing demand for automation in new industries, such as food and beverage, healthcare, and logistics.
- Increasing adoption of cloud-based automation solutions.
- Emergence of new technologies, such as artificial intelligence (AI) and machine learning (ML).
Challenges
- Increasing competition from low-cost providers.
- Rapidly changing technological landscape.
- Rising geopolitical tensions.
Frequently Asked Questions
