The latest report by MarkNtel Advisors, titled “Industrial Automation Market Report By Component (Field Devices, [Industrial Robots, Human Machine Interface (HMI), Control Valves, Sensors, Industrial 3D Printing, Others (Machine Vision, Fields Instruments, etc.)], Industrial Control Systems, [Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control System (DCS), Manufacturing Execution System (MES), Product Lifecycle Management (PLM), Others (Industrial Safety, Plant Asset Management (PAM), etc.)], Others, and Region 2024-2030”, offers a comprehensive analysis of the industry, which comprises insights on the Industrial Automation Market research report.
What is the market outlook for Industrial Automation?
The Global Industrial Automation Market size was valued at USD 162 billion in 2023 and is estimated to grow at a CAGR of around 10.8% during the forecast period 2024-30.
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Major Companies Operating in the Industrial Automation Industry:
ABB Ltd., Dwyer Instruments, Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., Schneider Electric, Siemens AG, Yokogawa Electric Corporation, Fanuc Corporation, WIKA Gmbh, Stratasys, 3D Systems Corp., and Others
Industrial Automation Market Report Segmentation:
By Component
-Field Devices
–Industrial Robots
–Human Machine Interface (HMI)
–Control Valves
–Sensors
–Industrial 3D Printing
–Others (Machine Vision, Fields Instruments, etc.)
-Industrial Control Systems
–Supervisory Control and Data Acquisition (SCADA)
–Programmable Logic Controller (PLC)
–Distributed Control System (DCS)
–Manufacturing Execution System (MES)
–Product Lifecycle Management (PLM)
–Others (Industrial Safety, Plant Asset Management (PAM), etc.)
- During 2024-30, the Industrial Robots segment is projected to claim the top spot in the Industrial Automation Market
By Level of Automation
-Semi-automatic
-Fully Automatic
By End User
-Automotive
-Mining
-Water & Wastewater Management
-Electronic & Semiconductors
-Energy & Power
-Food & Beverages
-Oil & Gas
-Others (Pharmaceuticals, Chemicals, etc.)
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Regional Insights:
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
- South America: Brazil, Rest of South America
- Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of MEA
Global Industrial Automation Market Opportunity: Gaining Traction of Industry 5.0 to Cater Lucrative Opportunities to the Industrial Automation Sector
Industry 5.0 aims to perform mass personalization, customization, and optimization of human efficiency with the help of Artificial Intelligence and Digital Twin Technology. Increased automation demand through the deployment of next-generation technology will positively impact many industries. Thus, Industry 5.0 provides greater opportunities for highly automated manufacturing systems and will continue to gain momentum for market expansion. The need for today’s industrial automation sector is fast progress in manufacturing techniques and production system digitization and intelligence. With Industry 5.0, the global industrial automation market will expand at a large scale in the coming years.
Moreover, Industry 5.0 has opened up new doors for multiple sectors, particularly healthcare where robots are performing medical surgeries in remote regions. This advancement presents fresh prospects like fostering inventive and ingenious ideas, interfacing with technology, supervising COBOTs (Collaborative Robots), devising artificial algorithms, and countless other possibilities. Thus Industry 5.0 is the futuristic industrial revolution for the expansion of industrial automation, which is expected to bring in more creativity and innovation in the products by allowing robots to perform repetitive tasks.
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About UsMarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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