(MENAFN- PR Newswire) REDDING, Calif., May 2, 2024 /PRNewswire/ -- According to a new market research report titled, ' Industrial automation Market
By Offering (Solutions (Enterprise-level Controls, plant Instrumentation, Plant-level Controls), Services), Mode of Automation, End-use industry (Oil & Gas, Automotive, Food & Beverage), and Geography
- Global Forecasts to 2031,' the
industrial automation market is expected to reach $368.05 billion by 2031, at a CAGR of 9.1% from 2024 to 2031.
Download Free Sample Report:
Industrial automation uses control systems, management solutions, and IT solutions & technologies to handle various processes in industries where humans are replaced with computers and machines to achieve efficiency and productivity. Industrial automation can also be defined as using automation technologies and control devices to automate the operation & control of industrial processes. Industrial automation uses control systems and equipment, such as computer software and robots, to perform tasks that were historically done manually.
Industrial automation plays a crucial role in various industries, such as manufacturing, automotive, pharmaceuticals, food and beverage, aerospace, and others. It helps improve product quality, reduce production time, minimize waste, and enhance worker safety. The market growth is driven by government initiatives promoting industrial development, increasing investments in industrial automation, rising demand for energy-efficient systems, and increasing need for supply chain optimization. However, high CAPEX requirements and concerns about workforce displacement restrain the market's growth. Moreover, the increasing demand for sustainable solutions is expected to create market growth opportunities.
The industrial automation market is segmented by offering, mode of operation, end-use industry, and geography.
The study also evaluates industry competitors and analyses the market at the regional and country levels.
Request Customization:
Based on offering, the global industrial automation market is segmented into solutions and services. In 2024, the solutions segment is expected to account for the larger share of the global industrial automation market. This segment is expected to contribute a revenue of around USD 172 billion
to the global industrial automation market in 2024. The solution segment is further segmented into plant instrumentation, plant-level controls, and enterprise-level controls. The large market share of this segment is attributed to the high adoption of enterprise resource planning (ERP), supervisory control and data acquisition (SCADA), product lifecycle management (PLM), distributed control systems (DCS) solutions for streamlining the production & enterprise processes across the manufacturing & industrial sectors, increasing demand for data analytics and predictive maintenance capabilities to optimize operations, reduce downtime, and improve overall equipment effectiveness (OEE), growing need to reduce operational costs and optimize resource utilization, and the emergence of Industry 4.0 & enabling technologies.
Brows in Depth Report:
Based on mode of automation,
the global industrial automation market is segmented into semi-automatic systems and fully-automatic systems. In 2024, the semi-automatic systems segment is expected to account for the larger share of 52%
of the global industrial automation market. The large market share of this segment is attributed to the lower cost of implementation compared to fully-automatic systems, the increasing need for a higher degree of flexibility between manual and automated processes, and the growing need for monitoring industrial systems closely and intervening promptly in cases of anomalies that lead to costly downtime or quality issues. However, the fully-automatic systems segment is projected to register the highest CAGR during the forecast period.
Based on end-use industry,
the global industrial automation
market is segmented into oil & gas, automotive, food & beverage, semiconductors & electronics, chemicals & materials, consumer goods, mining & metals, power, pharmaceuticals & biotech, machines & tools, paper & pulp, aerospace & defense, and other end-use industries. In 2024, the oil & gas segment is expected to account for the largest share of the global industrial automation market. This end use industry segment is expected to contribute a revenue of around USD 32 billion to the overall market in 2024. The large market share of this segment is attributed to the growing need to streamline operations across the entire value chain of oil & gas production, increasing demand for automated monitoring systems to minimize environmental impact and enhance safety, and the growing need to prevent unplanned downtime, extend asset lifespan, and reduce maintenance costs. However, the automotive segment is projected to register the highest CAGR of 11.7% during the forecast period.
Request Sample Report:
Based on geography, the global industrial automation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific region is expected to dominate the global market. The Asia-Pacific industrial automation market is estimated to be worth USD 79 billion in 2024. Additionally, the region is also projected to register the highest CAGR of 9.8% during the forecast period due to rapid industrialization and urbanization, increasing adoption of smart manufacturing solutions in the region, the increasing adoption of industrial robots, the advent of Industry 4.0, expansion of automotive industry , increasing need to enhance productivity, efficiency, and competitiveness in manufacturing sectors such as automotive, electronics, machinery, and consumer goods, increasing technological advancements in robotics, artificial intelligence, IoT, and growing need to automate production processes to reduce reliance on manual labor and remain cost-competitive.
The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants in the last three to four years. The key players operating in the ondustrial automation market are ABB Ltd (Switzerland), Rockwell Automation Inc. (U.S.), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), KUKA AG (Germany), Emerson Electric Co. (U.S.), FANUC CORPORATION (Japan), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), Hitachi Ltd. (Japan), and General Electric Company (U.S.).
Buy Now:
Scope of the Report:
Industrial Automation Market Assessment-by Offering
Solution Enterprise-level Controls Product Lifecycle Management (PLM) Enterprise Resource Planning (ERP) Manufacturing Execution Systems (MES)
Plant Instrumentation Motors & Drives Robots Articulated Robots Cartesian Robots SCARA Collaborative Robots Other Robots
Sensors Machine Vision Systems Cameras Optics and LED Lighting
Relays & Switches Other Plant Instrumentation Components
Plant-level Controls Supervisory Control and Data Acquisition (SCADA) Distributed Control Systems (DCS) Programmable Logic Controllers (PLC) Other Plant-level Controls
Services Integration & Installation Services Maintenance & Support Services Advisory, Training, & Consulting Services Safety & Security Services
Industrial Automation Market Assessment-by Mode of Automation
Semi-automatic Systems Fully-automatic Systems
Industrial Automation Market Assessment-by End-use Industry
Oil & Gas Upstream Midstream Downstream
Chemicals & Materials Paper & Pulp Pharmaceuticals & Biotech Mining & Metals Food & Beverage Beverages & Distilleries Dairy Processing Bakery & Confectionary Meat, Poultry, and Seafood Products Fruits & Vegetables Oil & Fats Other F&B Applications
Power Consumer Goods Automotive Machines & Tools Semiconductors & Electronics Aerospace & Defense Other End-use Industries
Industrial Automation Market Assessment-by Country/Region
North America Asia-Pacific China Japan India South Korea Singapore Rest of Asia-Pacific
Europe Germany U.K. Italy Netherlands Sweden France Spain Rest of Europe
Latin America Brazil Mexico Rest of Latin America
Middle East & Africa South Africa UAE Saudi Arabia Rest of Middle East & Africa
Related Report:
SCADA Market by Type (Monolithic SCADA Systems, Distributed SCADA Systems, Networked SCADA Systems), Component (Hardware, Software, Services), Deployment Mode, End-use Industry (Oil & Gas, Automotive, F&B), and Geography - Global Forecast to 2030
Human Machine Interface (HMI) Market
by Offering (Hardware (Display Units, Others), Software, Services), Configuration (Connected, Web-based), End-use Industry (Oil & Gas, Automotive, F&B, Others), & Geography - Global Forecast to 2031
Collaborative Robots Market
by Type, Component (Hardware, Software), Payload, Application (Material Handling, Welding & Soldering, Assembling and Disassembling), and End-use Industry (Oil & Gas, Automotive, Food & Beverage) - Global Forecast to 2030
Manufacturing Execution Systems Market
by Offering (Software, Services), Deployment Mode, Process Industry, Discrete Industry and Geography-Global Forecast to 2030
Smart Factory Market
by Component (Solutions, Services, Technologies), Sector (Automotive, Heavy Machinery & Tools, Aerospace & Defense, Metals & Mining, Electronics & Semiconductors, Pharmaceuticals), and Geography - Global Forecast to 2030
Industrial Automation Software Market
by Product (SCADA, DCS, MES, HMI, PLC, IT and Software Environment Integration Solutions, Production Process Test Systems), Deployment Type, End User, and Geography - Global Forecast to 2029
Packaging Automation Market
by Offering, Type (Robotic Pick & Place, Secondary Packaging, Tertiary & Palletizing), End-use Industry (Healthcare & Pharmaceuticals, E-Commerce & Logistics, Food & Beverage), and Geography - Global Forecast to 2030
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected]
Visit Our Website:
Connect with us on LinkedIn-
Content Source: pressrelease/389/industrial-automation-market-2031
Logo -
SOURCE Meticulous Market Research Pvt. Ltd.
MENAFN02052024003732001241ID1108167496