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Global Machinery And Industrial Automation Market Projected to Surpass $304.52 Billion by 2029 with 7.8% Annual Growth
Machinery And Industrial Automation Market
The machinery and industrial automation market has seen strong growth recently. It is projected to grow from $206.3 billion in 2024 to $225.68 billion in 2025 at a CAGR of 9.4%. This growth is driven by the impact of globalization, Industry 4.0 integration, environmental sustainability efforts, and enhanced safety standards.
The Machinery and Industrial Automation market will grow to $304.52 billion by 2029, at a CAGR of 7.8%. Growth is driven by IoT and AI adoption, energy efficiency focus, digital transformation, and smart manufacturing. Trends include AR technology adoption, safety automation demand, industrial PC growth, and energy-efficient solutions.
What Is Contributing to the Growth of the Machinery And Industrial Automation Market?
The rising adoption of the Internet of Things (IoT) is expected to drive the growth of the machinery and industrial automation market. IoT refers to a network of interconnected devices with embedded sensors, software, and other technologies. The increased adoption of IoT is attributed to its ability to enhance connectivity, provide data-driven insights, and optimize efficiency across industries. In machinery and industrial automation, IoT facilitates seamless connectivity, real-time monitoring, and control, leading to improved efficiency. For example, according to the State of IoT-Spring 2023 report by IoT Analytics, global IoT connections grew by 18% in 2022, reaching 14.3 billion active endpoints, and the number of IoT devices is expected to rise by another 16% in 2023. Therefore, the increasing adoption of IoT is driving the machinery and industrial automation market.
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Which Key Market Leaders Are Driving Machinery And Industrial Automation Industry Growth?
Major companies operating in the machinery and industrial automation market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., Larsen & Toubro Limited, Eaton Corporation plc, PARKER HANNIFIN CORP, Danfoss A/S, Emerson Electric Co., Rockwell Automation Inc., FANUC Corporation, Omron Corporation, YASKAWA ELECTRIC CORPORATION., Kuka AG, Yokogawa Electric Corporation, Azbil Corporation, Stratasys, Sensirion AG, Dwyer Instruments Ltd., Endress+Hauser Group Services AG, WIKA Instruments India Pvt. Ltd
What Are the Emerging Trends in the Machinery And Industrial Automation Industry?
In the machinery and industrial automation market, companies are focused on developing industrial automation products to increase profitability. These products help automate and optimize industrial processes. For instance, in May 2023, Renishaw Inc., a UK-based industrial automation company, launched the RCS product line, which includes tools for improving robot system accuracy and reducing setup times. The RCS line aims to enhance robot performance and simplify maintenance in industrial automation settings.
What Are the Main Segments in the Machinery And Industrial Automation Market?
The machinery and industrial automation market covered in this report is segmented -
1) By Product Types: Sensors And Actuators, Industrial Robots, Control Systems
2) By Automation Technologies: Programmable Logic Controller Systems, Supervisory Control And Data Acquisition, Distributed Control System, Robotics
3) By End-User Applications: Material Handling And Packaging, Assembly And Disassembly, Process Automation, Quality Control
4) By Industry Verticals: Manufacturing, Energy And Utilities, Chemicals And Pharmaceuticals, Food And Beverage
Subsegments:
1) By Sensors And Actuators: Proximity Sensors, Temperature Sensors, Pressure Sensors, Optical Sensors, Force Or Torque Sensors, Rotary Actuators, Linear Actuators, Pneumatic Actuators, Hydraulic Actuators
2) By Industrial Robots: Articulated Robots, SCARA Robots (Selective Compliance Assembly Robot Arm), Cartesian Robots (XYZ Robots), Delta Robots, Collaborative Robots (Cobots), Parallel Robots
3) By Control Systems: Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Supervisory Control And Data Acquisition (SCADA), Human Machine Interfaces (HMIs), Motor Drives And Controllers, Safety Instrumented Systems (SIS), Machine Vision Systems
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Which Geographic Area Leads the Machinery And Industrial Automation Market?
Europe was the largest region in the machinery and industrial automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machinery and industrial automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Machinery And Industrial Automation Global Market Report?
- Market Size Analysis: Analyze the Machinery And Industrial Automation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Machinery And Industrial Automation Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Machinery And Industrial Automation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Machinery And Industrial Automation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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