Global Industrial Automation Market: In-Depth Analysis and Forecasts for 2024-2030
MarkNtel Advisors, a leading market research firm, has showed its latest study titled "Industrial Automation Market", offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Industrial Automation Market: 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. These technologies have collectively contributed to the market growth. Furthermore, automation allows for efficient smart production infrastructure within the industrial areas, thus forcing businesses to utilize automation procedures to manage and enhance productivity with minimal involvement of labor.
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What are the primary factors driving the growth of the Industrial Automation Market?
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:
The Industrial Automation market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
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)
Geographical Analysis into the Industrial Automation Market:
The Industrial Automation market is categorized based regional:
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific
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Competitive Landscape and Industrial Automation Market Share Analysis:
The competitive landscape of the Industrial Automation Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- 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
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Questions Addressed in this Study
- What factors are driving the Industrial Automation Market growth?
- How is the Industrial Automation Market expected to grow over the next five years?
- What are the key insights into the current trends in the Industrial Automation Market?
- What is the current size of the Industrial Automation Market, and how is it projected to change in the future?
- What is the future outlook for the Industrial Automation Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.
Our specialization in niche industries emerging 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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