At CAGR of 7.6%, Industrial Automation Market is expected to grow from US$ 140.39 billion in 2021 to US$ 233.94 billion by 2028 - Analysis By The Insight Partners

Industrial Automation Market: Key Insights

According to our latest market study on "Industrial Automation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware and Software), System Type (Supervisory Control and Data Acquisition, Distributed Control System, Programmable Logic Control, and Others), and End Users (Oil & Gas, Automotive, Food & Beverage, Chemical & Materials, Aerospace & Defense, and Others)," the market is expected to reach US$ 233.94 billion by 2028, registering a CAGR of 7.6% from 2021 to 2028.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://bit.ly/3ygPYSk

Industrial automation uses control systems such as robots, computers, and information technologies to handle various machinery in an industry to replace human intervention. The industrial automation systems are classified into process plant automation and manufacturing automation depending on the operations involved. Industrial automation offers high product quality, reliability, and production rate while reducing production and design costs by deploying new, innovative, and integrated technologies and services. They possess various features, such as high productivity, quality, flexibility, and information accuracy, which is likely to increase the uptake of automation in the industrial sector during the forecast period. Also, the surge in the uptake of automation solutions in the oil & gas, manufacturing, chemicals & materials, pharmaceuticals, and other industries, is driving the industrial automation market.

Logistics-related apps experienced a rise due to a surge in online purchase volumes. Imaging systems in retail distribution centers and automated warehouse storage and retrieval systems, and manufacturers of PPE-related items, such as face masks, face shields, protective garments, and respirators were among them. Other factors influencing the uptake of machine vision systems for industrial automation include predictive maintenance, packaging inspection, automated barcode reading, product, and component assembly, defect reduction, and 3D vision inspection.

Click here to avail lucrative discounts on our latest reports. We offer student, enterprise, and special periodic discounts to our clientele. Please fill out the inquiry form below to know more - https://bit.ly/3A77jyq

The increasing penetration of advanced technologies, such as machine learning (ML), the internet of things (IoT), and artificial intelligence (AI), has helped accelerate the growth of the industrial automation market. Vision-guided robots are experiencing a rise in demand across the sector due to their efficiency in completing repetitive tasks, such as bottle handling, bin picking, and tray loading. Numerous benefits, including enhanced traceability, improved efficiency, and high flexibility, have been driving the need for automation in the food & beverages industry over the years. These factors have encouraged food & beverages producers to invest heavily in automated technology integration across their production facilities. For instance, a US-based snack brand, Utz Brands Inc., announced its plans to integrate automated capabilities across its production plants to reduce its operational cost in 2021.

Integration of Robotics in the Construction Industry Propel Industrial Automation Market

Construction is one of the most manual-intensive industries, with physical labor being the primary source of productivity. Robots do not yet play a substantial role in any stage of a building's lifecycle, whether it be new commercial construction, refurbishment, or deconstruction. However, with the rising automation across all industries, the global construction sector is also experiencing a surge in investment in automated solutions, such as robots. For instance, Shimizu Corporation made investments worth US$ 180.7 million since 2015 for the development of construction robots, such as Robo-Welder and Robo-Buddy. These factors further fuel the adoption of robots across the construction industry, which is expected to contribute to the industrial automation market growth over the forecast period.

Industrial Automation Market: Competitive Landscape and Key Developments

ABB Ltd, Emerson Electric, OMRON, Rockwell, and FANUC are prominent players operating in the industrial automation market. In addition to these players, there are several other important players operating in the industrial automation market, such as B&R Industrial Automation GmbH; HITACHI LTD.; Industrial, Automation (M) SDN BHD.; Koyo Electronics Industries Co., LTD.; and Mitsubishi Electric Corporation, which were analyzed during this industrial automation market research study.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods - https://bit.ly/3HMJtKg

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.