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Industrial Automation Market Latest Industry Size, Growth, Share, Emerging Demands, Current Trends and Competitive Landscape Forecast, Fortune Business Insights
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other industrial automation market trends. The report is available for sale on the company website.
The global industrial automation market is projected to grow from $191.74 billion in 2021 to $355.44 billion in 2028 at a CAGR of 9.2% in forecast period
The software segment is expected to hold major shares in the market during the forecast period owing to the high adoption of software solutions including human-machine interface (HMI), supervisory control and data acquisition (SCADA), manufacturing operations management (MOM) software and others. In addition, the hardware segment is expected to witness considerable growth owing to the high demand for sensors. For instance, in industries, more than 20 different types of sensors are deployed due to their monitoring capabilities and remote sensing application.
The Key Companies Present In The Industrial Automation Market Include:
ABB Ltd.
Emerson Electric Co.
General Electric Company
Honeywell International Inc.
Mitsubishi Electric Corporation
Omron Corporation
Rockwell Automation Inc.
Schneider Electric SE
Siemens AG
Yokogawa Electric Corporation
Rising Adoption Of Technologies Will Aid Growth
The increasing adoption of technologies such as artificial intelligence (AI) based smart robots, IoT, industrial 4.0 and others will contribute to the industrial automation market trends during the forecast period. The demand for technologies owing to its low manufacturing cost and enhanced quality and reliability will clearly have a positive impact on the market. The rising acquisitions and mergers by key players will create new growth opportunities. For instance, Siemens AG acquired mendix, a low-code application developer company. This acquisition was completed to strengthen its digital enterprise business segment. Moreover, the collaboration between Rockwell Automation and Plug and Play will aid the industrial automation market growth during the forecast period. For instance, Rockwell Automation collaborated with Plug and Play, an innovation platform. This collaboration helps Rockwell Automation to find new opportunities to leverage disruptive industrial IoT technologies.
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Key Segmental Overview:
1. By Component
Hardware
Sensors
Photoelectric
Laser
Inductive
Others
PLC
HMI
Servo
Motor
AC
DC
Drive
Laser Markers
Safety Light Curtain
Robots
Software
2. By Industry
Discrete Industry
Automotive
Electronics
Heavy Manufacturing
Packaging
Others (Aerospace and Defense, High Tech and Others)
Process Industry
Oil & Gas
Chemicals
Pulp & Paper
Mining and Metals
HealthCare
Others (Pharmaceuticals, Petroleum, and Others)
3. By Geography
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Increasing Demand for Robots Will Favor Growth
The increasing demand for AI-based industrial robots in various applications such as part transfer, pick and place, packaging, semiconductor manufacturing and others will stimulate growth of the market. For instance, robots are used for self-optimization of the production lines and customized product solutions in the discrete automation industry. Furthermore, the collaboration of Schneider Electric with Stäubli Robotics will accelerate growth of the industrial automation market. For instance, in April 2018, Schneider Electric, France based company, collaborated with Stäubli Robotics to integrate robotics solutions into EcoStruxure smart machines by combining products and software into complete automated solutions. In addition, the partnership of Siemens AG with Alibaba Cloud will encourage growth of the market. For instance, Siemens AG partnered with Alibaba Cloud to develop the Industrial Internet of Things (IIoT) solutions in China.
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Major Table of Contents for Industrial Automation Market:
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Executive Summary
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Porter's Five Force Analysis
Global Market Share Analysis and Matrix, 2019
Key Market Insights and Analysis, By Segments
Global Industrial Automation Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
By Component (Value)
Hardware
Sensors
Photoelectric
Laser
Inductive
Others
PLC
HMI
Servo
Motor
AC
DC
Drive
Laser Markers
Safety Light Curtain
Robots
Software
By Industry (Value)
Discrete Automation
Automotive
Electronics
Heavy Manufacturing
Packaging
Others
Process Automation
Oil & Gas
Chemicals
Pulp & Paper
Mining and Metals
Health Care
Others
By Region (Value)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
North America Industrial Automation Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
By Component (Value)
Hardware
Sensors
Photoelectric
Laser
Inductive
Others
PLC
HMI
Servo
Motor
AC
DC
Drive
Laser Markers
Safety Light Curtain
Robots
Software
By Industry (Value)
Discrete Automation
Automotive
Electronics
Heavy Manufacturing
Packaging
Others
Process Automation
Oil & Gas
Chemicals
Pulp & Paper
Mining and Metals
Health Care
Others
By Country (Value)
United States
Canada
TOC Continued...
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