Global Industrial Automation Market Size To Grow At A CAGR Of 8% In The Forecast Period Of 2023-2028

The ‘Global Industrial Automation Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global industrial automation market, assessing the market on the basis of its segments like devices, control system, application, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Industrial Automation Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 8%

The industrial automation market is driven by increased advancement in technologies like Internet of things (IoT) as it facilitates the development of efficient, cost-efficient, and responsive system architecture. Solutions for industrial IoT help connect industrial assets, enhance transparency, and boost efficiency. As a result, more businesses are using IoT solutions to automate manufacturing processes and improve the customer experience. Industrial IoT solutions use artificial intelligence, sophisticated analytics, edge computing, and cloud computing to analyse machine data and obtain valuable insights to maximise asset productivity and availability. Such rapid adoption of IoT solutions across different industries is expected to foster the market for industrial automation.

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Increased incorporation of varied human machine interfaces is another driver that is escalating the growth of the industrial automation market. Human machine interface (HMI) is a feature that enables operators to engage and control machinery using visual representations of the parts of a specific machine in industrial manufacturing and automation. HMI makes training considerably easier and give operators fast, intuitive insight since they often provide a visual depiction of the system being controlled. Almost any automation application, including access control, security, inventory management, and warehousing, can use industrial HMIs. There are multiple implementations of HMI in industrial automation like vehicle manufacturing, medical devices in healthcare facilities, electronics assembly lines and fabrics and textile, among others, which are growing the market for industrial automation.

Industrial Automation Industry Definition and Major Segments

Industrial automation is the use of tools like computer software and robotics to operate equipment and procedures which can replace humans for performing particular tasks. Manufacturing, quality control, and material handling procedures are common applications of industrial automation. The primary focus of industrial automation is raising productivity by extending work hours, minimising errors, and reducing the costs of maintain a large human workforce.

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On the basis of devices, the market is divided into:

• Machine Vision
• Robotics
• Sensors
• Motion and Drives
• Relays and Switches
• Others

Based on control system, the market is segmented into:

• Supervisory Control and Data Acquisition (SCADA)
• Distributed Control System (DCS)
• Programmable Logic Controller (PLC)
• Manufacturing Execution System (MES)
• Product Lifecycle Management (PLM)
• Enterprise Resource Planning (ERP)
• Human Machine Interface (HMI)
• Others

On the basis of application, the market is categorised into:

• Discrete Industry
  • Breakup by Industry
• Automotive
• Packaging
• Food processing
• Textile
• Others
• Process Industry
  • Breakup by Industry
• Chemical
• Power
• Oil and Gas
• Healthcare and Pharma
• Plastic
• Others

Based on region, the market is classified into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Others

Industrial Automation Market Trends

The increasing use of robotics in industrial automation market is one of the trends that is supporting the rapid growth of the market. Robotics is becoming a crucial component of industrial automation, allowing businesses to streamline operations, boost output, and cut labour expenses. Industrial robots are often programmed to carry out tasks requiring accuracy, speed, and precision. Robots are used for a variety of tasks, such as material handling, welding, painting, assembly, and packaging. Their importance in industrial automation is due to their capability to repair faults, adapt changes in the environment, and cooperate with human operators.

The expansion of the industrial automation market is also attributed to the increasing importance of cybersecurity in multiple companies and because of customer preference. Cybersecurity becomes crucial for companies and industries to safeguard manufacturing operations and these techniques guard against unauthorised access to industrial control systems. Furthermore, cybersecurity solutions stop data breaches and safeguard intellectually property, which is expensive and can pose threats to companies. Due to expanding need for cybersecurity, the industrial automation market is growing rapidly.

Key Market Players

The major players in the global industrial automation market report are:

• Siemens AG
• Emerson Electric Co.
• ABB Ltd.
• Rockwell Automation, Inc.
• Mitsubishi Electric Corporation
• Schneider Electric
• Texas Instruments Incorporated
• Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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