Industrial Automation Services Market Size to reach USD 464.15 Billion in 2032 | Emergen Research

The global industrial automation services market size is expected to reach USD 464.15 Billion in 2032 and register a revenue CAGR of 8.8% during the forecast period, according to the latest analysis by Emergen Research. Growing emphasis on worker safety can be attributed to the steady market revenue growth. The use of automation technologies in industrial processes is becoming increasingly important for both worker and equipment safety. Automation has made it possible for companies to develop systems that can identify potential risks before they happen, enhancing safety protocols and defending employees in hazardous situations.
The benefits of incorporating this technology into the workplace are obvious, but it can take some time to adopt industrial automation for better safety outcomes. Manufacturers should start by carefully evaluating unique requirements and hazards of their facility to choose the automation technology that would be most appropriate for their operations. A great practice is to start by identifying labor-intensive, repetitive jobs since these are excellent candidates for automation.

Market revenue growth is expected to be restrained by difficulties in handling various contracts. For every small device or component, the majority of end-user industries aspire to choose longer service agreements from a single service provider. The instrumentation and automation devices used in plant facilities are sold by several automation providers.

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Thus, hardware and software for automation have separate manuals for service and maintenance. In addition, through interacting with the operators and comprehending requirements for the applications, the development of automation software and hardware has concentrated on creating domain-specific engineering approaches. However, as domain-specific engineering approaches frequently ignore the aspects of operation and maintenance, servicing for automation service providers is more difficult.

Some Key Highlights from the Report

• On 11 July 2023, to market and distribute process automation solutions for the energy industry as well as process industries including sugar, fertilizers, petrochemicals, and metals in India and other countries, Thyssenkrupp Industries India and Valmet have inked a partnership agreement. The initial phase of the relationship, which will last for eight years, will mostly be focused on tasks billed via thyssenkrupp. Both businesses seek to provide top-notch control and automation solutions by using their unique strengths and skills. This will help them build a strong portfolio of industrial automation solutions within the context of Industrial Internet of Things (IIoT) 4.0.

• The project engineering and installation segment is expected to register a rapid revenue growth rate in the global market over the forecast period. These include preparing, scheduling, coordinating, and monitoring the assigned engineering projects; adhering to all applicable codes, procedures, Quality Assurance/Quality Control (QA/QC) guidelines, performance requirements, and specifications; interacting with clients daily to learn about their needs and expectations; managing overall quality of the work budget, timeline, plans, and employee performance and providing regular updates on the project's progress reports.

• The Distributed Control System (DCS) segment is expected to account for largest revenue share in the global market over the forecast period. A Distributed Control System (DCS) is an industrial control system that uses geographically scattered control loops inside a plant, machine, or control zone. Regulating industrial processes to improve their reliability, efficiency, and safety is a DCS's primary duty. A control system is made up of several mechanical or electrical parts that work together to regulate other parts or systems via control loops. All the hardware and software control activities necessary for measurements and adjustments are included within systems known as control loops. Control systems make up the core of industrial and process automation systems.

• The industrial automation services market in North America is accounted for largest revenue share in 2022 owing to increasing partnership activities in this region. For instance, Honeywell announced opening of an Industrial Automation Lab in partnership with the Department of Automation and Computer Science at the University Politehnica of Bucharest intending to assist students in acquiring the technical skills and knowledge required to enter, compete in, and succeed in the global industrial automation sector. Students get the opportunity to test their understanding of the most advanced industrial automation technologies in the lab, which is Honeywell's third at the college in the past two years. One of them is Honeywell's ControlEdge Programmable Logic Controller (PLC), which, when coupled with the Honeywell Experion Process Knowledge System, may lower risk, minimize downtime, and lower total cost of ownership by using inbuilt cybersecurity.

Some major companies in the global market report include Siemens AG, Honeywell International Inc., General Electric Company, Mitsubishi Electric, Rockwell Automation, Johnson Controls Inc., Schneider Electric, Yokogawa Electric Corporation, OMRON Corporation, Danaher Corporation

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Segmentation Insights for industrial automation services market Report:

For the purpose of this report, Emergen Research has segmented the global industrial automation services market based on the service type, product type, end-use, and region:
• Service Type Outlook (Revenue, USD Billion; 2019-2032)
o Project Engineering and Installation
o Maintenance and Support Services
o Consulting Services
o Operational Services

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o DCS
o SCADA
o PLC
o MES
o Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Discrete Industries
o Process Industries

• Regional Outlook (Revenue, USD Billion, 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. U.K.
3. France
4. Spain
5. BENELUX
6. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. Israel
4. Rest of MEA

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