Press release
Global Machinery And Industrial Automation Market to Reach $304.52 Billion by 2029, Growing at 7.8% CAGR
Global Machinery And Industrial Automation Market
The rise in the use of Internet of Things (IoT) is anticipated to fuel the expansion of the machinery and industrial automation market in the near future. The IoT consists of a network of devices and objects interconnected and built with sensors, software, and other technologies. Its escalating adoption is due to its capability to improve connectivity, provide data-based insights, and streamline efficiency across diverse sectors. IoT boasts the enhancement of machinery and industrial automation by offering uninterrupted connectivity and data exchange, increasing efficiency, and enabling real-time monitoring and control. For instance, per the State of IoT-Spring 2023 report by IoT Analytics, a service provider based in Germany, there was an 18% increase in global IoT connections in 2022, amounting to 14.3 billion active endpoints. In 2023, it's forecasted that the number of active IoT devices will grow by another 16%, hitting 16.7 billion worldwide. Therefore, the rise in IoT adoption is triggering the expansion of the machinery and industrial automation market.
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How will the growth rate of the machinery and industrial automation market shape industry trends by 2034?
The market for machinery and industrial automation has seen significant growth over the past few years. The market size is predicted to increase from $206.3 billion in 2024 to $225.68 billion in 2025, implying a compound annual growth rate (CAGR) of 9.4%. Factors such as the effect of globalization, the incorporation of industry 4.0, environmental sustainability, and enhanced safety protocols have contributed to this historical growth.
The market size for machinery and industrial automation is projected to experience robust escalation in the imminent years, with an estimated value reaching $304.52 billion by 2029 at a compound annual growth rate (CAGR) of 7.8%. The expansion during the prediction period can be credited to the rising incorporation of AI and IoT, an emphasis on energy efficiency, digital overhaul, advancements in intelligent manufacturing processes, durable supply chain systems, and the need for remote monitoring solutions. During the forecast period, major trends expected to surface include the embracement of innovative AR technologies, demand for safety automation products, industrial PC market expansion, and a concentration on energy-efficient resolutions.
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What trends are poised to drive the future success of the machinery and industrial automation market?
Leading businesses in the machinery and industrial automation sector are amplifying their efforts to produce industrial automation products to boost their earnings. The category of industrial automation products encompasses an extensive array of technologies and gadgets engineered to systematize and refine industrial processes. For example, Renishaw Inc., a machine industry firm from the UK, unveiled a fresh product range for industrial automation in May 2023. This range constitutes three products - RCS L-90, RCS T-90, and RCS P-series, all backed by an exclusive software package. The novel RCS product portfolio aims to tackle core challenges in the worldwide industrial automation sector, with a particular concentration on the manual arrangement, calibration, and upkeep of robots. The RCS L-90 is a ball-bar apparatus that enhances the robot system's precision, shortens installation time, and keeps track of robot health. Meanwhile, the RCS T-90 is a tri-ball bar system enabling users to pinpoint the key reasons behind unsatisfactory performance and collect vital robot data.
Which primary segments of the machinery and industrial automation market are driving growth and industry transformations?
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 geographical regions are pioneering growth in 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.
Who are the influential players reshaping the machinery and industrial automation market landscape?
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
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What Is Covered In The Machinery And Industrial Automation Global Market Report?
•Market Size Forecast: Examine the machinery and industrial automation market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the machinery and industrial automation market for a structured understanding.
•Key Players Overview: Analyze major players in the machinery and industrial automation market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the machinery and industrial automation market.
•Segment Contributions: Evaluate how different segments drive overall growth in the machinery and industrial automation market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the machinery and industrial automation market.
•Industry Challenges: Identify potential risks and obstacles affecting the machinery and industrial automation market.
•Competitive Landscape: Review strategic developments in the machinery and industrial automation market, including expansions, agreements, and new product launches.
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