Quick Overview of the Industrial Automation Market Analysis

The Global Industrial Automation Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.

Detailed Analysis of Global Industrial Automation Industry (2024-30): Reveals Further Growth &Market Expansion

According to the most recent study, the Global Industrial Automation Market size was valued at around USD 162 billion in 2023 and is expected to register a CAGR of around 10.8% during the forecast period, i.e., 2024-30. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024-30.

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Global Industrial Automation Market Driver:

Increasing Implementation of Industrial IoT to Boost Market Value – The significance of IoT in industrial automation is boosting the market size worldwide as it facilitates the development and optimization of efficient, economical, and adaptable system frameworks. The integration of Industrial IoT (IIoT) solutions enables connectivity between industrial resources for swift transparency and heightened efficiency. IIoT in conjunction with edge computing simplifies device management throughout its lifecycle across manufacturing processes.

Several companies are implementing their own industrial IoT technology to enhance their efficiency, productivity, and overall performance. One such instance is Siemens, which developed its own industrial IoT offerings, such as MindSphere, Mendix, and IndustrialEdge that rely on automation technologies for insights derived from industrial data.  Hence, organizations implement these technologies to streamline their operations while enhancing customer satisfaction. Consequently, there is a projected market growth trajectory due to the widespread adoption and implementation of IIoT within various industries.

Industrial Automation Market Segmentation Analysis

-By Component

• Field Devices
• Industrial Control Systems

-By Level of Automation

• Semi-automatic- Market Size & Forecast 2019-2030, (USD Million)
• Fully Automatic- Market Size & Forecast 2019-2030, (USD Million)

-By End User

• Automotive- Market Size & Forecast 2019-2030, (USD Million)
• Mining- Market Size & Forecast 2019-2030, (USD Million)
• Water & Wastewater Management- Market Size & Forecast 2019-2030, (USD Million)
• Electronic & Semiconductors- Market Size & Forecast 2019-2030, (USD Million)
• Energy- Market Size & Forecast 2019-2030, (USD Million) & Power
• Food & Beverages- Market Size & Forecast 2019-2030, (USD Million)
• Oil & Gas- Market Size & Forecast 2019-2030, (USD Million)
• Others (Pharmaceuticals, Chemicals, etc.) – Market Size & Forecast 2019-2030, (USD Million)

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Geographical Analysis:

-By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Over historical years, the Global Industrial Automation Market was majorly dominated by the Asia-Pacific region, as in 2023, the region held a market share of around 38% in the industrial automation market. This dominance is projected to continue during the forecast period i.e. 2024-30, owing to a gradual expansion of the industrial base in India, China, Japan, Vietnam, Indonesia, Philippines, etc. The increasing desire of several manufacturing units to upgrade the industrial plant management solutions that meet the growing demands for the automated industrial sector, most significantly in India and China, has become a key driver of regional market growth.

Moreover, in recent years, the trend of replacing conventional production facilities with smart production hubs has led to widespread acceptance of industrial automation and further fueled growth in the marketplace throughout the entire Asian-Pacific sector.

Key Players and Competitive Strategies in the Industrial Automation Market

The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:

• ABB Ltd.
• Dwyer Instruments
• Emerson Electric Co.
• Honeywell International, Inc.
• Kawasaki Heavy Industries, Ltd.
• Mitsubishi Electric Corporation
• OMRON Corporation
• Rockwell Automation, Inc.
• Schneider Electric
• Siemens AG
• Yokogawa Electric Corporation
• General Electric (GE) Company
• STMicroelectronics International N.V.
• Robert Bosch Gmbh (Bosch Group)
• WAGO Global
• Others

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Global Industrial Automation Industry Recent Development:

• 2024: Polysciences Inc., a leading chemical manufacturer partnered with Formic Automation to integrate automation into their manufacturing processes. Polysciences intended to increase operational efficiency by minimizing manual tasks that were becoming a production bottleneck and reducing the OPEX by 35%.
• 2023: ABB India secured a contract to provide electrification and automation systems for ArcelorMittal Nippon Steel India’s (AM/NS India) advanced steel cold rolling mill in Hazira, Gujarat. The project includes the installation of the ABB Ability System 800xA distributed control system along with relevant machinery and supplies.

Key Report Highlights

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography and product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2024-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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Our specialization in niche industries & emerging Video Analytics geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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