Robust Advancement Ahead: Industrial Automation Market Set to Attain US$ 81.4 Billion by 2033

The industrial automation market is on the precipice of a substantial transformation, poised to evolve from a valuation of US$ 40.6 billion in 2023 to a remarkable US$ 81.4 billion by 2033. This growth trajectory charts a steady course marked by a reliable Compound Annual Growth Rate (CAGR) of 7.2% across the forecast span.

At the heart of this journey lies the burgeoning demand for elevated product quality and operational efficiency, resonating as a formidable catalyst for the widespread adoption of industrial automation solutions. This burgeoning landscape finds its vigor in the emergence of cutting-edge technologies such as 5G, augmented reality, and the Internet of Things (IoT). Diverse industries are seamlessly integrating industrial automation to streamline production scheduling and alleviate labor-intensive tasks, fueling the market's expansion.

The surge in industrial automation finds its roots in a confluence of factors, encompassing the proliferation of digital technologies, increased corporate investments, and trailblazing innovations. Manufacturers propel market growth by seamlessly weaving in cloud-based technologies, real-time data analytics, and heightened operational efficacy. Crucial sectors including oil and gas, food and beverage, aerospace, pharmaceuticals, and more, assume pivotal roles in steering the expansion of the industrial automation market, catalyzing a future of enhanced productivity and operational excellence.

Elevate Your Knowledge: Download Sample Insights Today! https://www.futuremarketinsights.com/reports/sample/rep-gb-14308

- Automotive Industry significantly drives the Market Growth

Growing demand for industrial automation in the automation sector boosts the market growth. Several automakers maintain efficiency and accuracy to enhance
the performance of machinery. Automotive is an essential sector that captures a significant global market share. The rising number of vehicles and advanced electric vehicles is increasing the adoption of industrial automation.

The innovation of robotic systems in automotive is expanding the market growth. The increasing demand for advanced skills, machine learning, and mechatronics drives market opportunities. Apart from it, the electronic industry is further expected to drive market growth.

- Key Takeaways:

The industrial automation market is expected to have a valuation of US$ 81.4 billion by 2033.
With a CAGR of 7.2%, the global market increasing from 2022 to 2033.
The United States industrial automation market is anticipated to record a CAGR of 7% through 2033.
With a CAGR of 6.3%, the United Kingdom market significantly uplifts during the forecast period.
The China market is expected to capture a CAGR of 6.6% over the forecast period.
Japan's market is expected to record a CAGR of 5.7% from 2023 to 2033.

- Competitive Landscape:

The prominent players play a significant share in the global market by innovating advanced devices. These players are adopting better technology and new marketing skills to upsurge the market opportunities. These players are adopting several marketing strategies to uplift the market, including mergers, acquisitions, partnerships, agreements, and collaborations.

- Leading Players in the Market are:

Schneider Electric
Emerson Electric Co.
ABB
General Electric
Honeywell International
Mitsubishi Electric
FANUC
Rockwell Automation
Siemens
Yokogawa Electric

- Recent Developments in the Industrial Automation Market are:

In January 2022, Fuji Electric announced its new plant system in Tokyo. The new plant expands its production level with an area of 13,030 meters.
In March 2020, Epson Robots announced its partnership with Air Automation Engineering to provide better technical services in the United States.
In March 2021, an American-based company- Suez, partnered with Schneider Electric to provide digital solutions in water cycle management.
In January 2021, Omron developed its new series robot named SCARA. The robot fastens the work with more efficiency. It is one of the lightweight and better-performance robot series.
In November 2020, Rockwell Automation announced its new asset management software version. It helps to update, recover and handle the work with automation devices.

Elevate Your Expertise: Acquire a Treasure Trove of Insights - Buy Your Comprehensive Report Today @ https://www.futuremarketinsights.com/checkout/14308

- Industrial Automation Market by Category

By Deployment:
Industrial Robots
Machine Vision System
Process Analyzer
Field Instruments
Human Machine Interface
Industrial PC
Industrial Sensors
Industrial 3D Printing
Vibration Monitoring

By Component:
Supervisory Control and Data Acquisition
Programmable Logic Controller
Distributed Control System
Manufacturing Execution System
Industrial Safety
Plant Asset Management

By End-use Industry:
Oil & Gas, Chemicals
Pharmaceuticals & Medical Devices
Food & Beverages
Energy & Power
Automotive
Machine Manufacturing
Water & Wastewater Treatment
Electronics & Semiconductors
Metals & Mining
Others

By Region:
North America
Latin America
Europe
South Asia & Pacific
East Asia
The Middle East & Africa (MEA)

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

This release was published on openPR.