Market Insights and Analysis: Global Industrial Automation Market Overview and Projections (2024-2030)
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 expansion observed in the Industrial Automation Market is primarily fueled by various factors. In recent years, the industrial sector has undergone fast modifications due to the steady integration of superior technology like robotics, artificial intelligence, and others.
Top leading companies in the Global Industrial Automation Market includes:
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, Fanuc Corporation, WIKA Gmbh, Stratasys, 3D Systems Corp., and Others.
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.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Component
-Field Devices
-Industrial Robots- Market Size & Forecast 2019-2030, (USD Million)
-Human Machine Interface (HMI)- Market Size & Forecast 2019-2030, (USD Million)
-Control Valves- Market Size & Forecast 2019-2030, (USD Million)
-Sensors- Market Size & Forecast 2019-2030, (USD Million)
-Industrial 3D Printing- Market Size & Forecast 2019-2030, (USD Million)
-Others (Machine Vision, Fields Instruments, etc.)- Market Size & Forecast 2019-2030, (USD Million)
Industrial Control Systems
-Supervisory Control and Data Acquisition (SCADA)- Market Size & Forecast 2019-2030, (USD Million)
-Programmable Logic Controller (PLC)- Market Size & Forecast 2019-2030, (USD Million)
-Distributed Control System (DCS)- Market Size & Forecast 2019-2030, (USD Million)
-Manufacturing Execution System (MES)- Market Size & Forecast 2019-2030, (USD Million)
-Product Lifecycle Management (PLM)- Market Size & Forecast 2019-2030, (USD Million)
-Others (Industrial Safety, Plant Asset Management (PAM), etc.)- Market Size & Forecast 2019-2030, (USD Million)
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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Global Industrial Automation Market Geographic Reach:
The Geographic Reach of the Global Industrial Automation Market evaluates the spread and significance of Global Industrial Automation market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
· North America: US, Canada, Mexico
· Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
· Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
· South America: Brazil, Rest of South America
· Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of MEA.
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