Industrial Automation Market Report and Forecast 2024-2032

According to the report by Expert Market Research (EMR), the global industrial automation market size attained USD 192.74 billion in 2023. Aided by the increasing adoption of smart robots and the integration of AI and ML technologies, the market is assessed to grow at a CAGR of 8.6% in the forecast period of 2024-2032 to attain around USD 401.48 billion by 2032.

Industrial automation refers to the use of control systems, such as computers or robots, and information technologies to handle different processes and machines to replace human labour. It is primarily used to increase the efficiency, reliability, and speed of various manufacturing and production processes.

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Industrial automation systems collect data from various sensors and machines. This data is then processed and used to control and optimise various industrial operations through automated machinery and robotic devices. The overall goal is to create a more efficient, precise, and reliable production process.

Industrial automation is a cornerstone of modern industrial strategies, often seen as a critical component of Industry 4.0, which represents the next phase of digitalisation in the manufacturing sector.

The global industrial automation market thrives on the imperative to boost efficiency and productivity across manufacturing processes. This drive stems from the ever-intensifying competition among industries to deliver superior products at lower costs. Automation technologies are at the forefront of this transformation, offering substantial benefits by significantly reducing the margin of human error and enhancing production speed. These technologies not only allow for more consistent output but also improve workplace safety by delegating dangerous tasks to machines.

Another critical aspect fuelling the industrial automation market expansion is the increasing demand for customisation and the shift towards high-mix, low-volume production strategies. Modern consumers demand personalised products, which necessitates more flexible production lines that can switch tasks and reconfigure workflows swiftly without sacrificing operational efficiency. Automation platforms equipped with advanced robotics, AI, and ML capabilities are uniquely positioned to meet these needs. They can adjust operations dynamically, handling various tasks without extensive downtime for retooling, thereby maintaining high efficiency in production processes.

Moreover, automation aids in optimising resource allocation and energy consumption, further reducing production costs and enhancing sustainable practices within industries. By integrating smart sensors and IoT devices, automated systems can continuously monitor and adjust energy usage and material flow, ensuring that resources are utilised judiciously.

Technological innovations are a significant factor propelling the industrial automation market growth. The incorporation of AI and ML into industrial processes has revolutionised many facets of manufacturing. For instance, predictive maintenance, powered by AI algorithms, can analyse data from sensors embedded in machinery to predict failures before they occur. This preemptive approach not only saves costs associated with downtime but also extends the lifespan of equipment.

Quality control is another area in the industrial automation market, where AI excels. Through high-resolution cameras and sophisticated image processing software, automated systems can detect product defects that are imperceptible to the human eye. This capability ensures high-quality outputs consistently, which is crucial for maintaining brand reputation and customer satisfaction.

Supply chain optimisation is yet another significant application of AI and ML. These technologies offer logistics solutions that can foresee and mitigate potential delays and disruptions by analysing patterns and external factors like weather or traffic conditions. Consequently, businesses can manage their inventory more efficiently, reduce overhead costs, and enhance delivery speeds, thus improving overall service quality.

The role of IoT in the industrial automation market cannot be overstated. By connecting machines, devices, and sensors across a unified network, IoT facilitates a seamless flow of information. This connectivity enables real-time monitoring and management of industrial operations, which improves decision-making processes and operational transparency. It also supports the development of digital twins, virtual replicas of physical assets, systems, or processes that can be used for simulation and analysis to further optimise production.

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As these technologies continue to evolve and integrate more deeply into industrial settings, they pave the way for smarter, more connected, and highly efficient manufacturing environments. This technological progression is not just enhancing current processes but is also opening doors to new capabilities and models of production that were previously unattainable, marking a new era in the industrial automation market.

Industrial Automation Market Segmentation

The global industrial automation market can be divided based on devices, control system, application, and region.

Market Breakup by Devices

Machine Vision
Robotics
Sensors
Motion and Drives
Relays and Switches
Others

Market Breakup by Control System

Supervisory Control and Data Acquisition (SCADA)
Distributed Control System (DCS)
Programmable Logic Controller (PLC)
Manufacturing Execution System (MES)
Product Lifecycle Management (PLM)
Enterprise Resource Planning (ERP)
Human Machine Interface (HMI)
Others

Market Breakup by Application

Discrete Industry
Process Industry

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial automation market. Some of the major players explored in the report by Expert Market Research are as follows:

Siemens AG
Emerson Electric Co.
ABB Ltd.
Rockwell Automation, Inc.
Mitsubishi Electric Corporation
Schneider Electric
Texas Instruments Incorporated
Others

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