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Aug 12, 2024, 10:15 ET
Maximize Market Research has published a detailed analytical report on the Industrial Automation Market
PUNE, India, Aug. 12, 2024 /PRNewswire/ — The Industrial Automation Market is projected to grow from 156.68 Billion in 2023 to USD 277.35 Billion by 2030, at a CAGR of 8.5% from 2024 to 2029 according to a new report by Maximize Market Research.
As Industry 4.0 advances, it sets the stage for a new manufacturing era where agility and technological integration are essential for success. Industry 4.0 is transforming the Industrial Automation Market. AI, cloud-native apps, and edge computing are driving industrial automation growth, with increased demand for engineers and advanced solutions. This shift accelerates the move from basic mechanization to advanced, interconnected systems, delivering exceptional efficiency and innovation. Adopting interoperability standards such as OPC UA and Industry 4.0 technologies, companies enable real-time decision-making and predictive maintenance, resulting in smarter and more responsive manufacturing environments. Industries that use AI, collaborative robots, and IoT technology gain a competitive edge by addressing labor shortages, meeting rising consumer demands, and optimizing budget management. These advancements drive significant growth in the Industrial Automation Market.
Industrial Automation Market Scope
| Market Size in 2023 | USD 156.68 Billion |
| Market Size in 2030 | USD 277.35 Billion |
| CAGR | 8.5 % |
| Forecast Period | 2024-2030 |
| Base Year | 2023 |
| Segment Covered | by Componentsby Solutionsby Industryby Region |
| Drivers | Rising adoption of IoT and AI in industrial environmentsIncreasing government initiatives to promote industrial automation |
| Restrain | High Initial CostsRegulatory and Compliance Challenges |
| Opportunities | Smart Factories and Industry 4.0AI and Machine Learning Integration |
| Report Coverage | Market Share, Size, and Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Automation Technology Adoption Grows as Solution to Labor Shortages
The manufacturing industry is dealing with a severe labor shortage. According to the MMR study Report, there will be an estimated more than 2 million unfilled jobs by 2030. In response, business leaders are turning to industrial automation as a critical strategy to mitigate workforce challenges. Automation alleviates high turnover rates by taking over repetitive and dangerous tasks, allowing employees to shift into skilled roles such as machine operators and programmers. Also, the study indicates that 75% of industrial organizations recognize the need for reskilling, and only 10% feel prepared. To address this, manufacturers should adopt automation solutions that are easy to implement, enabling workers to adapt and enhance productivity amid workforce shifts.
Segment Analysis: Key Areas of Focus
The global medical device engineering market was segmented into Components, including Industrial Robots, Machine Vision System, Process Analyzer, Field Instruments, Human Machine Interface (HMI), Industrial PC, Industrial Sensors, Industrial 3D Printing, and Vibration Monitoring. Among these, the Industrial Sensors segment is expected to experience the fastest growth. Due to continuous technological advancements and the rising integration of software to improve functionality, and connectivity, in automation.
Regional Insight: Asia pacific held the largest share of the Industrial Automation Market
The Industrial Automation Market is growing rapidly, with South Korea leading in robot density at 1,012 per 10,000 employees, followed by Singapore, Japan, and Sweden. Demand for automation engineers is rising across manufacturing, oil and gas, and power generation sectors, driven by the need for advanced systems and cyber security. The mining industry is innovating with autonomous machinery for improved safety and sustainability. Government support and technological advances, such as Wi-Fi 7, are accelerating automation adoption. Effective collaboration among engineers and stakeholders is crucial for refining automation solutions and achieving production and sustainability goals.
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Industrial Automation Market: Segmentation
by Components
Industrial Robots
Machine Vision System
Process Analyzer
Field Instruments
Human Machine Interface (HMI)
Industrial PC
Industrial Sensors
Industrial 3D Printing
Vibration Monitoring
by Solutions
Supervisory Control and Data Acquisition (SCADA)
Programmable Logic Controller (PLC)
Distributed Control System (DCS)
Manufacturing Execution System (MES)
Industrial Safety
Plant Asset Management (PAM)
by Industry
Oil & Gas
Chemicals
Food & Beverages
Energy & Power
Automotive
Machine Manufacturing
Water & Wastewater Treatment
Electronics & Semiconductors
Metals & Mining
Others
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Industrial Automation Market: Key Players
Industrial Automation Market Giants in Asia Pacific
- FANUC (Japan)
- Yaskawa Electric Corporation (Japan)
- Toshiba Corporation (Japan)
- Yokogawa Electric Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Hitachi, Ltd. (Japan)
- Omron Corporation (Japan)
- Mitsubishi Electric Corporation (Japan)
- Keyence Corporation (Japan)
- Accurate Industrial Controls Pvt. Ltd. (India)
Industrial Automation Market Major Key Players in Europe
- Voith GmbH (Germany)
- Siemens AG (Germany)
- Kuka AG (Germany)
- Bosch Rexroth Corporation (Germany)
- Phoenix Contact (Germany)
- MARCO Limited (UK)
- Schneider Electric SE (France)
- Endress+Hauser (Switzerland)
- ABB Ltd. (Switzerland)
- Danfoss A/S (Denmark)
- Tegan Innovations (Ireland)
Industrial Automation Market Key Companies in North America
- Honeywell International Inc (US)
- Emerson Electric Co. (US)
- General Electric Company (US)
- Rockwell Automation, Inc (US)
- Danaher Corporation (US)
- National Instruments Corp (US)
- Roper Technologies, Inc (US)
Maximize Market Research is leading Automation & Process Control Research firm, has also published the following reports:
Industrial Automation and Control Systems Market:- Global Industrial Automation and Control Systems Market to Reach USD 318.30 Billion by 2030. Digitization and the Industry 4.0 revolution have sped up automation across industries, driving the adoption of smart solutions such as robotics and control systems to optimize production.
Industrial Automation Oil Gas Market:– Global Industrial Automation in the Oil & Gas Market Set to Reach USD15.20 Billion by 2030. Rising demand for crude oil and petroleum is expected to drive growth in the industrial automation market for oil and gas, boosting Market Growth.
Robotic Process Automation Market:- Robotic Process Automation Market Global Industrial Automation and Control Systems Market Expected to Reach USD 21.93 Billion by 2030. The surge in the demand for automating business processes stands out as a driving factor behind the escalating adoption of the Robotic Process Automation (RPA) technology.
Industrial Controller and Factory Automation Market:- Industrial Controller and Factory Automation Market to Reach 276.99 Billion by 2030. The adoption of advanced automation technologies such as SCADA, DCS, RTU, PLC, and HMI boosts growth in industrial control and automation.
Digital Process Automation Market:- Digital Process Automation Market Set to Reach USD 36.07 Billion by 2030. AI and machine learning integration is increasingly driving growth in the Digital Process Automation market.
Connected and Autonomous Mobility Vehicles Market size was valued at USD 149.43 Billion in 2023 and is expected to grow at a CAGR of 40.1 % from 2024 to 2030, reaching nearly USD 1583.08 Billion.
Warehouse Automation System Market was valued at US$ 3.65 Bn. in 2023 and the total revenue is expected to grow at 16.5% of CAGR through 2024 to 2030, reaching nearly US$ 10.65 Bn.
Key Benefits for Stakeholders:
- This report provides a quantitative as well as qualitative analysis of the Industrial Automation market. It Includes segment analysis, current trends, Market Dynamics, challenges, and estimations of the Industrial Automation industry from 2024 to 2030.
- Porter’s five forces analysis highlights the influence of buyers and suppliers, helping stakeholders make profitable decisions and enhancing supplier-buyer relationships.
- In-depth analysis of the Industrial Automation market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
About Maximize Market Research:
Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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