Global Industrial Automation and Control Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

The Global Industrial Automation and Control Systems Market was valued at ~US$ 150 billion in 2017. The market is anticipated to grow significantly throughout the projected period as a result of the growing adoption of process automation across numerous industries, including automotive, energy utilities, and chemicals. It is estimated to be ~US$ 250 billion in 2022 and is expected to reach a market size of ~US$ 450 billion by 2028 growing at a CAGR of ~11% during 2022-2028.

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Key Growth Drivers

Many industries like manufacturing, oil and gas, chemicals and materials, pharmaceuticals, and materials and chemicals implement automation systems and prefer to use tried-and-true standards and technology to ensure reliable, secure, and consistent operations, which is driving the market for industrial automation to grow quickly.
Industrial automation acts as a catalyst for greater dependability and efficiency that raises the return on investment (ROI). Industrial automation decreases production costs while raising output rate and quality through the use of cutting-edge, integrated technology.
As automation involves installing hardware like highly precise robots, sensory-perceptive machines, and wheels that support mobility, it necessitates a substantial financial investment, which results in very high upfront costs.
In 2020, the manufacturing and industrial sectors have been greatly disrupted by the COVID-19 pandemic. COVID-19 has, however, considerably accelerated the growth of industrial automation across the manufacturing sector as a result of the increased adoption of industry 4.0 over the past few years.

Key Trends by Market Segment

By Component- Control valve component dominated the market in 2021, due to the rapid advancement of technology.

Control valves have a significant market share in the oil and gas industry owing to the benefits it offers in terms of pressure and temperature control throughout downstream, middle, and upstream activities.
The need for control valves in the power generating industry is expected to grow due to the increasing number of power production plants around the world and the growing demand for energy and electricity in developing countries.

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By Control System - DCS segment dominated the market during 2021, owing to its uses including production scheduling, preventative maintenance scheduling, and information interchange.

An automated management solution for monitoring and managing a variety of industrial processes is called a distributed control system (DSC). It is utilized for information reporting, process control, process supervision, and data collection.
Demand for DCS is rising as a result of features including scalability, simple and convenient installation, and automatic updates. The demand for DCS has also increased as a result of the expanding industrialization around the world, particularly in developing countries in the Asia Pacific and the Middle East.

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By Industry- The manufacturing industry dominated the market during the forecast period due to trends in the manufacturing sector being at the forefront as it goes through its biggest transition in recent years

Manufacturing operations are increasingly moving toward automation and technological convergence as manufacturers see the value of a successful digital transformation.
The adoption of automation solutions also makes it easier to integrate data about production processes and electric assets, which contributes to greater sustainability over the course of a manufacturing plant's entire lifecycle.

By Geography: Asia Pacific accounted for the largest market share among all regions in 2021, due to the adoption of automation continually increasing in countries such as India, Japan, China, and South Korea.

China and Japan are among the top producers and consumers of industrial robots, sensors, and machine vision systems in Asia Pacific. In addition, the manufacturing sectors for automobiles, consumer products, electronics, and pharmaceuticals are strong in India, China, and South Korea.
Government programs and laws that support the digitization of manufacturing facilities and investments in the IIoT are also significant drivers of the adoption of industrial automation systems in Asia Pacific region.

Competitive Landscape

The Global Industrial Automation and Control Systems Market are highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Industrial Automation and Control Systems. Large global players constitute ~20% of competitors, while regional players represent the second largest number of competitors. Some of the major players in the market include Schneider Electric, Rockwell Automation, Inc., Honeywell International Inc. Emerson Electric co., ABB, Mitsubishi Electric Corporation, Siemens, Omron Corporation, Yokogawa Electric Corporation, General Electric Co., and others.

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Recent Developments Related to Major Players

In 2021, ABB and ETH partnered to enhance robotics research, a new partnership and a US$ 2.5 million gift will help Switzerland become one of the top robotics research centers in the world.
In 2020, Rockwell Automation, Inc. acquired ASEM, S.p.A., and a renowned Italian supplier of digital automation solutions. The Control & Visualization hardware and software portfolio will be further improved by this acquisition within the Architecture & Software business area.

Conclusion

The Global Industrial Automation and Control Systems Market is anticipated to grow significantly throughout the projected period (2022-2028) due to the increasing adoption of process automation solutions across numerous sectors, including the automotive, chemical, and energy utilities, the market is predicted to have significant growth throughout the forecast period. Though the market is highly competitive with ~800 participants, few global players control the dominant share and regional players also hold a significant share. The market size is estimated to be ~US$ 250 billion in 2022 and is expected to reach a market size of ~US$ 450 billion by 2028 growing with a CAGR of ~11%. The Asia Pacific is the dominating region, as China and Japan are among the top producers and consumers of industrial robots, sensors, and machine vision systems in Asia.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Industrial Automation and Control Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion

Market Taxonomy

By Component
Human-Machine Interface (HMI) Component
Industrial Robots
Control Valves
Sensors
Others

By Control System
DCS
PLC
SCADA
Others

By End-user Industry
Aerospace & Defense
Automotive
Chemical
Energy & Utilities
Food & Beverage
Healthcare
Manufacturing
Mining & Metal
Oil & Gas
Transportation
Others

By Geography
North America (USA, Canada, Mexico)
Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Players
Schneider Electric
Rockwell Automation, Inc.
Honeywell International Inc.
Emerson Electric co.
ABB
Mitsubishi Electric Corporation
Siemens
Omron Corporation
Yokogawa Electric Corporation
General Electric Co.

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.