Machine Automation Controller Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Machine Automation Controller Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The machine automation controller market size has grown steadily in recent years. It will grow from $37.41 billion in 2023 to $39.17 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to industrial automation evolution, demand for increased productivity, efficiency in material handling, growing complexity in manufacturing, increased focus on quality control, safety compliance requirements.

The machine automation controller market size is expected to see strong growth in the next few years. It will grow to $47.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to growth in smart manufacturing, focus on sustainable manufacturing, customizable and modular systems, global supply chain resilience, regulatory push for digitalization. Major trends in the forecast period include rise of industrial internet of things (iiot), edge computing for real-time processing, focus on cybersecurity, modular and scalable controllers, cloud-based automation solutions, collaborative and safe robotics integration, remote monitoring and maintenance.

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Market Drivers and Trends:

The increasing energy efficiency is expected to propel the growth of the machine automation controller market going forward. Energy efficiency refers to the practice of using less energy to perform a specific task or function while maintaining or improving the desired outcome or service. Machine automation controllers play a pivotal role in optimizing energy consumption in manufacturing processes, contributing to overall operational efficiency. This emphasis on energy efficiency aligns with global initiatives for environmental sustainability, making machine automation controllers a key enabler for industries seeking to enhance productivity while minimizing their environmental footprint. For instance, in August 2023, according to the European Commission, a Belgium-based governing body, the goal for energy efficiency is twenty percent by 2020 and at least thirty-five percent by 2030. Therefore, the increasing energy efficiency is driving the growth of the machine automation controller market.

Product innovation is a key trend gaining popularity in the machine automation controller market. Major companies operating in the machine automation controller market are developing innovative products to strengthen their position. For instance, in May 2023 Omron Corporation, a Japan-based electronics company, launched NX502. The NX502 is a machine automation controller that can connect to up to 10 EtherNet/IP networks, making it perfect for larger systems. It has superior information control and safety control capabilities, as well as high-precision data gathering capability and integrated control technology, allowing it to operate large-scale production lines with module division via up to eight network system separations and up to 254 safety connections. This permits partial process adjustments and testing with minimum influence on overall operations, optimizing energy productivity and lowering lead times when changing lines.

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Major Key Players of the Market:

Omron Corporation, Schneider Electric SE, Rockwell Automation Inc., Emerson Electric Company, Advantech Company Limited, Yokogawa Electric Corporation, Delta Electronics Inc., Kollmorgen, ABB Limited, Mitsubishi Electric Corporation, Parker Hannifin Corporation, American Chemical Society India, NEXCOM International Company Limited, Kontron AG, Bosch Rexroth AG, Beckhoff Automation GmbH & Co. KG, Honeywell International Inc., Siemens AG, Acromag Inc., B&R Automation, Control Techniques, Precise Automation Inc., Danfoss A/S, Eaton Corporation plc, Fuji Electric Co. Ltd., GE Automation & Controls, Hitachi Industrial Equipment Systems Co. Ltd., IDEC Corporation, Lenze SE, Yaskawa Electric Corporation

Machine Automation Controller Market 2024 Key Insights:

• The machine automation controller market size is expected to see strong growth in the next few years. It will grow to $47.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Rapid Adoption Of Robots In Manufacturing Drives Growth In The Machine Automation Controller Market
• Product Innovation In The Machine Automation Controller Market
• North America was the largest region in the machine automation controller market share in 2023

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