The global industrial automation market size was estimated at USD 196.6 billion in 2021 and it is expanding to surpass around USD 412.8 billion by 2030 and is poised to grow at a CAGR of 8.59% during the forecast period 2022 to 2030.
Real-time data analysis with increased demand and acceptance from the consumers with increased acquisition of the latest developed technologies in industrial automation with increased results and increased workflow, enhance proactive maintenance. This helps to get visibility during the manufacturing plant with increased efficiency. The increased flow of work with increased production and converting the raw material into the product. Automation involves reducing interference of the human with the manufacturing process. Less intervention of human while manufacturing the products which are in bulk. Improved number of types of equipment for processing the product with increased control over the machines. Machines such as boilers, steam jacketed vessel, heating oven (dryers). stabilizing ships, steering and others. Increased automation in households with wide applications controlling boiler.
Automation is also seen in banking section to reduce complications in algorithms by using simple developed technology of on and off. Increased performance by reducing the human intervention increased utilization of computer with software embedded system, robotics involved, improved control system with developed on and off technology. The outbreak of Covid-19 with the negative impact on the market with the imposed rules and regulations from the government led to lock down across various regions with wide spread of corona virus affected the market value of industrial automation market with reduced requirements from the market for the automated technology and decreased the market size of industrial automation during the forecast period.
Impact of post covid-19 situation largely developed the internet of things with increased requirements over the internet and easy work flow with high efficiency drives the market of industrial automation during the forecast period.
Report Scope of the Industrial Automation Market
|Market Size in 2022||
USD 213.49 Billion
|Market Size by 2030||
USD 412.8 Billion
|Growth Rate from 2022 to 2030||CAGR of 8.59%|
|Forecast Period||2022 to 2030|
|Segments Covered||Deployment Type, Component, End-Use Industry, and Geography|
|Companies Mentioned||ABB, Emerson Electric Co., Fanuc, General Electric, Honeywell International, Mitsubihi Electric, Rockwell Automation, Schneider Electricm, Siemens, Yokogawa Electric, Omron Corporation|
Industrial automation with wide developments with new technologies and reduced the contact of human with the manufacturing process with real time data analysis. Increased efficiency, work flow, productivity by control system management. Enhance quality of the product, increase demand for the automation with new technologies with high reliability and manufacturing. Increased performance with a smaller number of labour workers, increased efficiency, reduced hard work for the labours, enhance production, Increased automation in industries labour work is replaced with machines work.
Consistent work flow with increased manufacturing and production and fulfill the market demands. higher accuracy and precision, enhance quality of the product. Which is the major factor with wide developments in automation technology. Increased research and development with continuous new research in industrial automation and enhance the productivity with increased quality of the product and increased maintenance of the machine developing new equipments and machines.
The key market players play the major role in industrial automation market with developing new innovations and technologies based on machines and increased internet of things with embedded software system easy transmission of work and managing the work flow over the computer over the developed software with increased investment by the key market players for new innovations and expansion of the industrial automation market during the forecast period.
Impact of covid-19 affected the market with negative impact on the market size. Pandemic situation with increased internet of things with high connectivity and managing the workflow easily without any hard work for labour with reduced manpower boost the market of industrial automation during the forecast period.
Key Market Drivers
Key Market Challenges
Key Market Opportunities
On the basis of deployment type, industrial sensor with the largest market revenue share from the year 2022 to 2030. Sensor segment drives the market growth with increased utilization of sensor in newly developed automation technology and increased demands from the consumer for the industrial sensor with enhance developments. Rapid acceptance of the sensors used in manufacturing companies in machineries involved for processing with improved network connectivity which helps to enhance the wireless sensors involves in internet of things over the software. It involves saving the data with utilizing the sensors real time data analysis.
In maintenance sensors are the major components with improved solutions which helps to extend the market growth during the forecast period. Enhance options of sensors involved increased facilitating, improved communications. Which offers the lucrative growth of sensors in industrial automation.
The plant asset management a software with the highest growth with increased market value. Intelligence integrated in to the Plant Asset Management software with increased measurements and giving accurate data regarding assets that is software in to the manufacturing plant. Utilization of plant asset management is increasing with improvement for making the decisions, monitoring the conditions during manufacturing and early detection of the problem to avoid any mistakes in manufacturing. Which improves the quality of the technology and enahance data management. Which also helps to reduce waste material, with increased production with early detection of the problem with the system software with enhance connectivity.
Increased utilization of the plant asset management in other industries such as food and beverages, oil and gas industry, automobile industry with technological developments involved in industries with increased data collection for further access. Integration of the plant asset management with decreased rates of the software and increased operation involved. Which helps to boost the performance with increased market growth during the forecast period.
On the basis of end use industry, mining and metal industry to be the largest with increased market revenue share. It involves extraction of metals and minerals. Increased production with industrial automation, with high safety, reliability, decreased cost.
Industrial Automation Market Share, By Region, 2021 (%)
|Regions||Revenue Share in 2021 (%)|
The Middle East Africa, Saudi Arabia with highest development with increased research and development in industrial automation during the forecast period. Increased utilization of software with asset developments with increased internet of things in industrial automation with continuously developing technology driving the market growth with new automation technology. Other regions with in process for developing the market growth includes North America, Europe, Latin America, Asia Pacific with increased demands for automation technology with increased communication and enhance controlling system with increased efficiency.
Key Market Players
Segments Covered in the Report
By Deployment Type
By End-Use Industry
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