Industrial Automation Market Trends, Outlook, Demand, Insights, Overview 2023-2032

As per The Business Research Company's Industrial Automation Opportunities And Strategies Market Report 2023, The industrial automation market reached a value of nearly $173,031.9 million in 2022, having grown at a compound annual growth rate (CAGR) of 3.6% since 2017. The market is expected to grow from $173,031.9 million in 2022 to $242,476.0 million in 2027 at a rate of 7.0%. The market is then expected to grow at a CAGR of 8.4% from 2027 and reach $363,519.0 million in 2032.

During the historic period, the industrial automation market was mainly driven by the increasing adoption of robotics. Industrial robots refer to robots that have been created to automate difficult production activities, such as those needed by an assembly line which moves constantly. Robots may perform a variety of duties on the manufacturing floor, including arc welding, material handling, palletizing and plasma cutting, freeing up the trained employees to handle tasks that are more difficult.

For instance, in October 2022, according to the World Robotics Report 2022 shared by the International Federation of Robotics (IFR), a Germany-based non-profit organization to promote the robotics industry, 517,385 new industrial robots, a record number, were installed in companies worldwide in 2021. This is a 22% increase over the pre-pandemic record for robot installation in 2018 and a growth rate of 31% year on year. Presently, there are a record-breaking 3.5 million operational robots in use worldwide. Therefore, the increasing adoption of robotics supported the growth of the industrial automation market.

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The implementation of AI (artificial intelligence) in industrial automation is a key trend in the industrial automation market. Artificial Intelligence (AI) involves robots performing complex human tasks. The utilization of AI and robots is principally observed in industrial manufacturing, as they revolutionize mass production. Robots are capable of doing recurring activities, designing the production model, rising competence, building automation solutions, eradicating human error and delivering superior levels of quality assurance. Implementation of AI in industrial robots and drones improves their precision and assists tasks such as inspection, maintenance and material handling. This reduces the need for human intervention and lowers the risk of accidents. As a result, AI improves the efficiency of maintenance operations and prolongs equipment life. For instance, in March 2022, Japan-based electronics company, Mitsubishi Electric Corp., announced new industrial robotic systems incorporated with its Maisart AI technologies, including high-precision speech recognition that will allow operators to fine-tune robot movements as required.

Opportunities -The top opportunities in the industrial automation market segmented by component will arise in the industrial robots segment, which will gain $18,620.7 million of global annual sales by 2027. The top opportunities in segment by control system will arise in the enterprise resource planning (ERP) segment, which will gain $17,344.5 million of global annual sales by 2027. The top opportunities in segment by industry will arise in the aerospace and defense segment, which will gain $12,686.3 million of global annual sales by 2027. The industrial automation market size will gain the most in the USA at $20,650.7 million.
Industrial Automation Market Segmentation:
The Industrial Automation market is segmented

By Component - The industrial automation market is segmented by component into
a) Industrial Robots
b) Human Machine Interface (HMI)
c) Industrial Sensors
d) Control Valves
e) Other Components

By Control System - The industrial automation market is segmented by control system into
a) Supervisory Control And Data Acquisition (SCADA)
b) Programmable Logic Controller (PLC)
c) Distributed Control System (DCS)
d) Manufacturing Execution System (MES)
e) Product Lifecycle Management (PLM)
f) Enterprise Resource Planning (ERP)
g) Other Control Systems

By Industry - The industrial automation market is segmented by industry into
a) Aerospace And Defense
b) Automotive
c) Healthcare
d) Energy And Utilities
e) Food And Beverages
f) Oil And Gas
g) Mining
h) Transportation
i) Other Industries

Major players in the Industrial Automation market include Siemens AG, ABB Ltd, Mitsubishi Electric Corporation, Schneider Electric, Fanuc Corporation.

The regions covered in the global Industrial Automation market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Industrial Automation Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

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Industrial Automation Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
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19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Industrial Automation Market, Conclusions And Recommendations
23. Appendix

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