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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Industrial Automation Market Outlook
The global industrial automation market attained USD 192.74 billion in 2023. The market is expected to grow at a CAGR of 8.6% in the forecast period of 2024-2032 to attain USD 401.48 billion by 2032.
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Growing Demand for Smarter Systems Drives the Global Market for Industrial Automation
The Asia Pacific contributed significantly to the global market for industrial automation. This is due to the production plants of key players of this industry in these areas due to low cost as well as the rise of new players, especially in China and Japan. Furthermore, the market in the Asia Pacific is predicted to grow at the fastest rate in the forecast period. Growing demand for smarter solutions to manage industrial plants is driving this growth in the Asia Pacific countries, such as India, China, and South Korea. Followed by the Asia Pacific, North America holds a significant share of the market revenue and is estimated to grow at a healthy pace in the forecast period as well. Increasing adoption of factory automation systems by more manufacturers and the rise in IoT research and development is propelling the market forward, and aiding regional growth.
Industrial Automation: Market Segmentation
Industrial automation is the usage of control systems, such as computers or robots, and information technologies for handling processes that were earlier performed by humans on a larger scale. This provides greater direct integration of the physical world into computer-based systems, aiding many advantages such as increased efficiency, control, precision, and greater cost-effectiveness.
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By devices, the market is bifurcated into:
- Machine Vision
- Robotics
- Sensors
- Motion and Drives
- Relays and Switches
- Others
On the basis of 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
In terms of application, the market is segregated into:
- Discrete Industry, which is further subdivided into:
- Automotive
- Packaging
- Food Processing
- Textile
- Others
- Process Industry, which is further subdivided into:
- Chemical
- Power
- Oil and Gas
- Healthcare and Pharma
- Plastic
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Digital Transformation Drives the Global Market for Industrial Automation
Manufacturing industries are witnessing rapid overhaul as manual work is increasingly being replaced by smart robots and automation driven systems. To meet the current demand for production, automation is seen as the need of the hour. Furthermore, demand for precise production and high-quality without compromising on quantity drives the market for industrial automation. Favourable government policies in the manufacturing sector and growth of the sector in emerging economies propel this industry forward. An increasing need for digital transformation across almost all major industries such as healthcare, transportation, retail, etc., is also accelerating the market for industrial automation. As the potential of IoT and interconnectivity is realized, the industry is expected to grow at a fast rate in the forecast period.
Key Industry Players in the Global Industrial Automation Market
The report gives a detailed analysis of the following key players in the global kiosks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Siemens AG
- Emerson Electric Co.
- ABB Ltd.
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- Schneider Electric
- Texas Instruments Incorporated
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Devices |
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| Breakup by Control System |
|
| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global industrial automation market attained a value of nearly USD 192.74 billion.
The market is projected to grow at a CAGR of 8.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 401.48 billion by 2032.
The major drivers of the market include increasing industrialisation and the growing demand for smarter solutions to manage industrial plants.
The trends in the market include the rising demand for precise production and high-quality automation control system and the emerging technologies like AR and VR.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Machine vision, robotics, sensors, motion and drives, and relays and switches, among others are the leading devices in the market.
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), and Human Machine Interface (HMI), among others are the significant control systems in the market.
Discrete industry and process industry are the two major applications. Discrete industry can be further divided into automotive, packaging, food processing, and textile, among others. Process industry is further categorised into chemical, power, oil and gas, healthcare and pharma, and plastic, among others.
The key players in the global industrial automation market are Siemens AG, Emerson Electric Co., ABB Ltd., Rockwell Automation, Inc., Mitsubishi Electric Corporation, Schneider Electric, and Texas Instruments Incorporated, among others.
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