The Global Industrial Automation Market Size was 191.89 billion dollars in 2021, and it is anticipated to increase by 395.09 billion dollars by 2029, at a CAGR of 9.8%, from 205.86 billion dollars in 2022. According to our analysis, the global market experienced a 6.5% decline in 2020 compared to 2019. The COVID-19 pandemic has had an unprecedented and staggering impact on the world, and demand for industrial automation has been lower than expected in all regions compared to pre-pandemic levels.
We looked at the products that market participants like Emerson Electric Co. were offering in the research report. Programmable Automation Controllers, Industrial I/O, Motion Control, Automation/Control and control software, Panel and industrial PCs, Industrial Web Panels, and Industrial Monitors are just a few of its automation solutions. The automation products offered by ABB also include control systems, turbocharging, and programmable logic controllers.
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Information about the report:
Forecast Timeframe: 2022-2029
The starting year is 2021.
Market Size in 2021 - USD 191.89 billion
The market size in 2027 will be USD 395.09 billion
CAGR - 6.5%
Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Industrial Automation Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money service providers make from selling their products to consumers. Market share is the percentage of the market that is under the control of one provider or a group of providers. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Industrial Automation Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Component Type Analysis,
The industrial automation market is divided into hardware and software categories based on components. During the forecast period, the software is likely to account for a sizable market share. Supervisory control and data acquisition (SCADA), manufacturing operations management (MOM), and human-machine interface (HMI) software are all examples of automation software. Businesses can streamline the manufacturing process thanks to it. The IoT's rising demand for sophisticated automation processes in the industries is expected to cause the hardware segment to grow quickly during the forecast period.
By Hardware Analysis,
The hardware segment consists of sensors, robots, safety light curtains, servos, laser markers, Programmable Logic Controllers (PLC), and Human-Machine Interfaces (HMI). A significant market share is anticipated for servo, followed by sensors in the hardware. The projected growth rate for robots is astounding. Market participants are introducing sophisticated robots for automation purposes as a result of technological advancements and the emergence of Industry 4.0. As an illustration, the Omron Corporation introduced the i4 series SCARA robot in January 2021. This robot automates high-precision, high-speed assembly, and transportation processes. In a similar vein, Mitsubishi Electric Corporation introduced Melfa Assista, a line of collaborative robots, in May 2020.
By Motor Type Analysis,
Servo motors are further divided into AC motors and DC motors according to the type of motor they use. Throughout the forecast period, DC motors are anticipated to hold a significant market share. In industrial automation applications, heavy-duty loads are specifically moved using DC motors. For instance, Portescap added 22ECP-2A motors with a new amalgamated driver to the DC motors platform. Such elements support the expansion of DC motors in industrial applications. During the forecast period, AC motors are anticipated to grow at the highest CAGR. A significant adoption is anticipated, thanks to its low maintenance requirements and low cost.
By Key Industry Analysis,
To increase their market presence, the players in the market engage in mergers and acquisitions, partnerships, and collaborations. ABB Ltd., Rockwell Automation, and Honeywell International are some of the major players operating in the market. They are creating cutting-edge uses for robotics and automation technologies in order to unlock new growth potential. As an illustration, ABB Ltd. invests about 5% of its revenue in R&D to increase the variety of products it offers, with a particular emphasis on machine-centric robotics, digital factory automation, collaborative robotics, and artificial intelligence.
During the anticipated period, Europe is likely to hold a dominant position in the global industrial automation market. According to the International Federation of Robotics (IFR), the highest robot densities worldwide were found in Western Europe (225 units per 10,000 employees) and the Nordic European Countries (204 units per 10,000 employees) in January 2021. With 346 units per 10,000 employees, Germany comes in fourth among the most automated nations in the world. These are a few of the important elements that make up the region's largest share.
The study report provides a thorough analysis of the “Industrial Automation Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Industrial Automation Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Industrial Automation Market industry will be able to gain the upper hand by using the study as a valuable resource.
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