CHICAGO, Nov 27, 2023 – The global Industrial Automation Market is experiencing substantial growth, with an estimated market size of USD 147.9 billion in 2022 and a projected increase to USD 218.8 billion by 2027, showcasing an impressive Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period. These insights are highlighted in a comprehensive report by MarketsandMarkets, a leading market research and consulting firm.
Industrial Automation, encompassing technologies like Programmable Logic Controllers (PLCs), Supervisory Control and Data Acquisition (SCADA) systems, and robotics, plays a pivotal role in optimizing manufacturing processes, enhancing efficiency, and ensuring precision in various industries. The market’s anticipated growth is driven by factors such as the increasing adoption of Industry 4.0 practices, advancements in automation technologies, and the rising demand for operational efficiency across diverse sectors. The report explores key segments, growth drivers, challenges, opportunities, and identifies key players in the global Industrial Automation market.
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Key Segments:
Component Segment: The Industrial Automation market includes various components, such as PLCs, SCADA systems, Human-Machine Interface (HMI), robotics, sensors, and drives, each contributing to the overall automation ecosystem.
End-User Segment: Automation technologies are deployed across diverse end-user industries, including manufacturing, oil and gas, energy, automotive, and pharmaceuticals, each with specific requirements for automation solutions.
Technology Segment: The market incorporates various automation technologies, including Distributed Control Systems (DCS), PLCs, SCADA, and Industrial Robots, reflecting the diverse range of applications in industrial settings.
Browse 300 market data Tables and 66 Figures spread through 342 Pages and in-depth TOC on “Industrial Control & Factory Automation Market by Component, Solution (SCADA, PLC, DCS, MES, Industrial Safety, PAM), Industry (Process Industry and Discrete Industry) and Region (North America, Europe, APAC, RoW) – Global Forecast to 2027”
View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/factory-industrial-automation-sme-smb-market-541.html
Growth Drivers:
Industry 4.0 Adoption: The widespread adoption of Industry 4.0 practices, involving the integration of automation, data exchange, and IoT technologies, drives the demand for advanced Industrial Automation solutions.
Operational Efficiency Demands: Increasing emphasis on operational efficiency, cost reduction, and quality improvement across industries fuels the adoption of automation technologies.
Rising Demand for Smart Manufacturing: The growing trend towards smart manufacturing, characterized by connected and intelligent systems, contributes to the expansion of the Industrial Automation market.
Challenges:
High Initial Investment: The high upfront costs associated with implementing comprehensive industrial automation systems can pose challenges for small and medium-sized enterprises.
Security Concerns: The increasing connectivity of industrial systems raises cybersecurity concerns, requiring robust measures to protect against potential threats.
Opportunities:
Emerging Markets: The adoption of industrial automation technologies in emerging markets presents opportunities for market expansion and increased demand.
Advancements in Robotics: Ongoing advancements in robotics, including collaborative and autonomous robots, offer new possibilities for automation in manufacturing and other industries.
Key Players:
The report identifies key players in the global Industrial Automation Market, including:
Siemens AG: A global conglomerate providing a wide range of industrial automation solutions, including PLCs, SCADA systems, and industrial software.
ABB Ltd.: A multinational company specializing in robotics, automation, and power technologies, offering comprehensive solutions for industrial automation.
Rockwell Automation, Inc.: A leading provider of industrial automation and information solutions, including PLCs, drives, and control systems.
Mitsubishi Electric Corporation: A Japanese multinational company offering automation products, including PLCs, HMIs, and industrial robots.
Schneider Electric SE: A multinational company providing energy management and automation solutions, including PLCs, SCADA systems, and industrial software.
The global Industrial Automation Market is positioned for substantial growth, driven by the ongoing digital transformation of industries and the integration of smart technologies. As businesses strive for increased efficiency, flexibility, and agility, industrial automation technologies are set to play a crucial role in shaping the future of manufacturing and industrial processes.
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