Industrial Automation Market worth US$ 233.94 billion by 2028 - Exclusive Research by The Insight Partners

The Insight Partners adds "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.

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Key Recent Developments: Industrial Automation Market
1. In Feb. 2022, Scania, a prominent worldwide transport solutions provider, signed a deal with ABB to supply a broad range of robotic solutions for Scania's new highly automated battery assembly factory in Sweden.
2. In Jan. 2022, Hitachi, Ltd. and Hitachi Industrial Equipment Systems Co., Ltd. announced that they have been accelerating the global development of the line building business leveraging industrial robots. Hitachi Automation, Ltd. will be established on April 1, 2022, by reorganizing and combining group firms' activities and resources to reinforce the robotic SI business in Japan and ASEAN countries.

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.

Regional Insights: Industrial Automation Market

Germany, France, Russia, the UK, and the Netherlands were the worst-hit countries in the region. The region homes several manufacturing industries that include several industrial automation solution manufacturers. The emergence of the COVID-19 virus has impacted the revenue stream and operations of businesses of European automated solution manufacturers. For instance, the outbreak of COVID-19 significantly impacted the operations of ABB Ltd, which led to an increase in backlog orders in 2020. Meanwhile, the demand from automotive end users was at the lower side in 2020. This negatively impacted the industrial automation market size in 2020. However, owing to the ongoing skilled labor shortage, nonautomotive end users-such as electronics and metal & machinery-have showcased a positive trend in the adoption of automation solutions such as robots and sensors from Q1 of 2021, which positively influenced the growth of the industrial automation market size from 2021.

Impact of COVID-19 Pandemic on Industrial Automation Market Growth

Europe homes various manufacturing industries, including several industrial automation solution manufacturers. The emergence of the COVID-19 virus has impacted the revenue stream and operations of businesses of European automated solution manufacturers. For instance, the outbreak of COVID-19 significantly affected the operations of ABB Ltd, which led to an increase in the backlog of orders in 2020. Meanwhile, the demand from automotive end users was at the lower side in 2020. This negatively impacted the industrial automation market in 2020. However, owing to the ongoing skilled labor shortage, nonautomotive end users-such as electronics and metal & machinery-have showcased a positive trend in the adoption of automation solutions such as robots and sensors from Q1 of 2021, which positively influenced the growth of the industrial automation market from 2021.

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Company Profiles:
1. ABB LTD.
2. B&R Industrial Automation GmbH
3. HITACHI LTD
4. Industrial Automation (M) SDN BHD
5. Koyo Electronics Industries Co., LTD
6. Mitsubishi Electric Corporation
7. Omron Corporation
8. Rockwell Automation
9. Siemens
10. Yokogawa Electric Corporation

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Industrial Automation Market Research Study Scope:
1. This research report provides insights into the "Global Industrial Automation Market" and summarizes the results of the assessment carried out by The Insight Partners in the field of Industrial Automation for global perspective.
2. The report provides the current market size for Industrial Automation, defines trends and presents growth forecasts for 12 years, i.e., from 2019 to 2028. The historical years considered for this study are 2018 and 2019, base year is 2020, and the forecast period for the entire report is 2021 to 2028.
3. All the market numbers for revenue are provided in US dollars and revenue generated by companies offering Industrial Automation solutions and services is considered for market size derivation.
4. The market is analyzed from supply side and is further validated by taking demand side into consideration.
5. The research report focuses on current market trends, opportunities, potential of the market, and competition in the global Industrial Automation market.
6. The study also provides market insights and analysis of the Industrial Automation market, highlighting the technological market trends, market dynamics, and competitive analysis of the major players in the industry.

The Insight Partners Research Report Guidance:

The report provides qualitative and quantitative analysis of global Industrial Automation market segmented by product, technology and geographic regions.
1. Chapter 1 provides a brief description of the market under study.
2. Chapter 2 mentions the key takeaways, highlighting the key trends and outlook of the global Industrial Automation market
3. Chapter 3 provides the research methodology of the study.
4. Chapter 4 provides market landscape, PEST (Political, Economic, Social and Hardware) analysis, ecosystem analysis, and expert opinions.
5. Chapter 5 highlights the key market dynamics in the Industrial Automation market, including factors that are driving the market, prevailing deterrents, potential opportunities, and future trends. Impact analysis of drivers and restraints are covered under this section.
6. Chapter 6 discusses the global Industrial Automation market scenario, in terms of historical market values, and forecast till 2028.
7. Chapters 7 to 11 discuss the market segments by product, technology, and geographic analysis across North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM), along with the major factors governing the growth of the market in these regions.
8. Chapter 12 describes the impact of COVID 19 outbreak on global Industrial Automation market across various geographies.
9. Chapter 13 describes the industry landscape analysis. It provides detailed description of various business activities, such as market initiatives, new developments, mergers and joint ventures, across the world.
10. Chapter 14 provides the detailed profiles of key companies operating in the global Industrial Automation market. The companies have been profiled based on their key facts, business description, products & services, financial overview, SWOT analysis, and key developments.
11. Chapter 15, i.e., the appendix is inclusive of the company overview, word index, contact information, and disclaimer section.

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Expert Opinions on Industrial Automation Market:
During the course of the research study, various leading industry experts, global sales managers, key opinion leaders, and industry veterans shared their valuable and critical insights about global and regional trends related to the Industrial Automation market. As a result, the figure below summarizes a few expert opinions collected during the primary research for the global Industrial Automation market.

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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, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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