Press release
Industrial Market to Surpass USD 1.23 Trillion by 2034
Industrial Market to Surpass USD 1.23 Trillion by 2034
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Introduction
Pune, India - November 2025 - According to a new report by Exactitude Consultancy, the Global Industrial Market is projected to grow from USD 640 billion in 2024 to around USD 1.23 trillion by 2034, registering a 6.8% CAGR over the forecast period. The market's rapid evolution is being shaped by digital transformation, advanced robotics, and smart factory ecosystems designed to enhance productivity and operational resilience.
Key Takeaways
• Market Size 2024: USD 640 Billion
• Forecast 2034: USD 1.23 Trillion
• CAGR (2025-2034): 6.8%
• Key Growth Drivers: Automation, industrial IoT, sustainability goals, and renewable energy integration
• Top Players: Siemens AG, ABB Ltd., Schneider Electric, Rockwell Automation, Honeywell International, Mitsubishi Electric, General Electric, Emerson Electric, Bosch Rexroth, and Hitachi Ltd.
Market Story
The global industrial sector is undergoing one of the most significant transformations in its history, propelled by automation, digital connectivity, and sustainability. The adoption of smart sensors, robotics, and data analytics is enabling factories to operate with greater precision, efficiency, and flexibility.
Industrial digitization is not only driving operational efficiency but also reshaping supply chains through predictive maintenance, digital twins, and cloud-based production management. Additionally, the global energy transition is prompting industries to invest in electrification, waste heat recovery, and hydrogen-based production systems.
Governments and corporations alike are investing in "green industrialization" - combining automation with environmental stewardship to achieve carbon-neutral manufacturing goals.
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Segmentation Overview
By Technology:
• Industrial Automation & Control
• Industrial IoT (IIoT)
• Robotics & Machine Vision
• Additive Manufacturing (3D Printing)
• Energy Management Systems
By End-Use Industry:
• Manufacturing
• Oil & Gas
• Power & Utilities
• Chemicals
• Automotive
• Food & Beverage
• Pharmaceuticals
• Metals & Mining
By Component:
• Hardware (Sensors, Controllers, Robots)
• Software (Analytics, AI Platforms, ERP)
• Services (Integration, Maintenance, Training)
By Region:
• North America: Strong industrial automation ecosystem, led by the U.S. and Canada.
• Europe: Focus on energy transition and Industry 4.0 standardization.
• Asia Pacific: Largest and fastest-growing region, driven by China, India, Japan, and South Korea.
• Latin America & Middle East: Emerging industrial modernization initiatives and renewable integration.
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Recent Developments
• Siemens AG launched its Industrial Operations X platform for unified automation and analytics.
• ABB introduced new robotics software to enhance adaptive manufacturing in smart factories.
• Schneider Electric partnered with Microsoft to expand AI-enabled energy management for industrial sites.
• Mitsubishi Electric announced next-gen industrial controllers for sustainable production environments.
• Rockwell Automation completed the acquisition of Clearpath Robotics to strengthen autonomous manufacturing solutions.
Expert Quote
"The industrial market is shifting from traditional manufacturing to intelligent ecosystems where every machine, process, and energy input is optimized through digital connectivity," said Irfan Tamboli, Business Development Executive at Exactitude Consultancy.
"Automation, AI, and sustainability are now converging to define industrial competitiveness for the next decade."
Market Drivers
1. Industry 4.0 Acceleration: Digital twin and IoT integration transforming factory operations.
2. Sustainability Focus: Push toward low-carbon manufacturing and energy-efficient technologies.
3. Resilient Supply Chains: Adoption of automation to counter global disruptions.
4. Workforce Augmentation: Human-robot collaboration increasing throughput and safety.
5. Government Incentives: Industrial modernization grants and green infrastructure investments.
Forecast & Future Outlook
The coming decade will see the industrial market transition toward fully connected, autonomous, and sustainable operations. Asia-Pacific will dominate production capacity expansion, while North America and Europe lead in digital adoption and clean manufacturing initiatives.
By 2034, the integration of AI, robotics, and circular economy principles will make the industrial landscape leaner, more data-driven, and environmentally responsible, redefining global manufacturing benchmarks.
This report is also available in the following languages : Japanese (産業市場), Korean (산업 시장), Chinese (工业市场), French (Marché industriel), German (Industriemarkt), and Italian (Mercato industriale), etc.
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About Us
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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Connect Us:
Irfan Tamboli
PHONE NUMBER +1 (704) 266-3234
EMAIL ADDRESS: sales@exactitudeconsultancy.com
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