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Industrial Automation Market to Hit USD 345.73 Billion by 2031, Growing at 9.4% CAGR - Persistence Market Research
Industrial Automation Market
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The market expansion is being driven by several factors. Rising adoption of Industry 4.0, integration of artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are reshaping production and operational efficiency. The Asia Pacific region leads the global market, fueled by industrial modernization in China and India, where labor costs, rapid industrialization, and demand for high-quality production standards are pushing manufacturers to adopt advanced automation solutions. Among segments, Distributed Control Systems (DCS) and industrial sensors are the most dominant, supported by strong uptake across industries such as oil & gas, automotive, electronics, and chemicals.
✦ Key Highlights from the Report
✦ Global industrial automation market forecasted to reach US$345.73 billion by 2031, growing at 9.4% CAGR.
✦ Integration of AI, IoT, and digital twin technologies fuels adoption of smart factories under Industry 4.0.
✦ Collaborative robots (Cobots) gain traction for improving worker safety and boosting productivity.
✦ Edge computing increasingly deployed to enable real-time decision-making and reduce latency.
✦ Sustainable automation solutions focused on energy efficiency and waste reduction are on the rise.
✦ Predictive maintenance powered by AI and machine learning helps industries reduce downtime.
Market Segmentation
By Component: The industrial sensors category continues to dominate, supported by the rapid expansion of Industrial Internet of Things (IIoT) technologies. Sensors enable predictive maintenance, real-time monitoring, and asset optimization-making them indispensable in modern smart factories.
By Solution: The Distributed Control Systems (DCS) segment holds the largest share, particularly in emerging economies. DCS solutions provide centralized monitoring and process control, ensuring consistency in large-scale industrial environments such as power generation and chemical processing plants.
By End-Use Industry: The oil & gas industry leads adoption, leveraging automation for remote monitoring, safety improvements, and predictive maintenance. Beyond oil & gas, industries such as automotive, electronics, and pharmaceuticals are accelerating automation adoption to enhance productivity and ensure compliance with global standards.
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Regional Insights
The Asia Pacific region dominates the industrial automation market with over 38% share in 2024, and its primacy will remain intact through 2031. Countries like China are leading due to rising labor costs and a strategic shift toward automated solutions in automotive and electronics manufacturing. Meanwhile, India is investing heavily in automation as part of its industrial modernization and infrastructure push.
In North America, the market benefits from strong R&D in AI, robotics, and IoT-based solutions, with the U.S. at the forefront of adopting collaborative robots and predictive maintenance tools. Europe continues to emphasize sustainable and energy-efficient automation, aligning with regulatory frameworks and carbon reduction goals. Meanwhile, the Middle East & Africa region is adopting automation solutions in oil & gas and industrial manufacturing, while Latin America sees growth driven by automotive and mining automation investments.
Market Drivers
A major driver is technological innovation, particularly advancements in AI, robotics, and IoT. These technologies make automation systems more adaptive, intelligent, and efficient. Additionally, industries demand higher consistency and precision, pushing for automation to reduce human error and enhance product quality. Rising pressure to reduce operational costs also encourages industries to adopt automation, as systems improve productivity while minimizing waste and defects.
Market Restraints
The biggest challenge is the integration of modern automation technologies with legacy equipment. Many industries rely on older machinery that is difficult and costly to upgrade. Additionally, rising cybersecurity risks pose significant threats to interconnected systems, especially as more devices are connected via IoT and cloud platforms. These risks raise concerns about data breaches, IP theft, and operational disruption.
Market Opportunities
Future opportunities lie in the penetration of digital twins, which simulate and optimize manufacturing processes before physical execution. Another key opportunity is the demand for eco-friendly, energy-efficient, and sustainable automation solutions. As governments and businesses prioritize green manufacturing, companies offering low-carbon, waste-reducing automation systems will gain a competitive edge.
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✔ Reasons to Buy the Report
✔ Provides a detailed analysis of market size, share, and growth trends through 2031.
✔ Identifies leading segments such as sensors, DCS, and oil & gas for focused investment.
✔ Delivers regional insights, highlighting Asia Pacific's dominance and global opportunities.
✔ Examines key drivers, restraints, and opportunities shaping the future of automation.
✔ Profiles leading companies and their latest strategic developments.
Company Insights
• Siemens AG
• ABB Ltd
• Emerson Electric Co.
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Rockwell Automation Inc.
• Yokogawa Electric Corporation
• Honeywell International Inc.
• Omron Corporation
• Fanuc Corporation
Recent Developments:
2023: ABB India secured a contract to automate ArcelorMittal Nippon Steel's cold rolling facility in Hazira, enhancing energy efficiency and sustainability.
2023: Emerson Electric acquired National Instruments for US$8.2 billion, strengthening its testing, measurement, and automation portfolio.
Conclusion
The industrial automation market is on a strong growth trajectory, supported by technological advancements, cost-saving opportunities, and sustainability initiatives. While challenges such as legacy integration and cybersecurity risks exist, the market's future is bright, driven by digital twins, eco-friendly technologies, and Industry 4.0 adoption. With Asia Pacific leading the global landscape and major players innovating continuously, the sector is set to revolutionize manufacturing and industrial operations in the decade ahead.
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About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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