Industrial Automation Market Size, Share, Trends, Demand, Growth and Competitive Analysis| MarkNtel

 MarkNtel Advisors recently published a detailed industry analysis of the Industrial Automation Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Industrial Automation Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Industrial Automation Market size was valued at around USD 162 billion in 2023 and is expected to register a CAGR of around 10.8% during the forecast period, i.e., 2024-30.

What are the major Driver the Industrial Automation industry?

Increasing Implementation of Industrial IoT to Boost Market Value – The significance of IoT in industrial automation is boosting the market size worldwide as it facilitates the development and optimization of efficient, economical, and adaptable system frameworks. The integration of Industrial IoT (IIoT) solutions enables connectivity between industrial resources for swift transparency and heightened efficiency. IIoT in conjunction with edge computing simplifies device management throughout its lifecycle across manufacturing processes.

Several companies are implementing their own industrial IoT technology to enhance their efficiency, productivity, and overall performance. One such instance is Siemens, which developed its own industrial IoT offerings, such as MindSphere, Mendix, and IndustrialEdge that rely on automation technologies for insights derived from industrial data.  Hence, organizations implement these technologies to streamline their operations while enhancing customer satisfaction. Consequently, there is a projected market growth trajectory due to the widespread adoption and implementation of IIoT within various industries.

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What segments define the Industrial Automation market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

·       By Component

o   Field Devices

§  Industrial Robots- Market Size & Forecast 2019-2030, (USD Million)

§  Human Machine Interface (HMI)- Market Size & Forecast 2019-2030, (USD Million)

§  Control Valves- Market Size & Forecast 2019-2030, (USD Million)

§  Sensors- Market Size & Forecast 2019-2030, (USD Million)

§  Industrial 3D Printing- Market Size & Forecast 2019-2030, (USD Million)

§  Others (Machine Vision, Fields Instruments, etc.)- Market Size & Forecast 2019-2030, (USD Million)

o     Industrial Control Systems

§  Supervisory Control and Data Acquisition (SCADA)- Market Size & Forecast 2019-2030, (USD Million)

§  Programmable Logic Controller (PLC)- Market Size & Forecast 2019-2030, (USD Million)

§  Distributed Control System (DCS)- Market Size & Forecast 2019-2030, (USD Million)

§  Manufacturing Execution System (MES)- Market Size & Forecast 2019-2030, (USD Million)

§  Product Lifecycle Management (PLM)- Market Size & Forecast 2019-2030, (USD Million)

§  Others (Industrial Safety, Plant Asset Management (PAM), etc.)- Market Size & Forecast 2019-2030, (USD Million)

According to report, during 2024-30, the Industrial Robots segment is projected to claim the top spot in the Industrial Automation Market, holding the largest market share.

·       By Level of Automation

o   Semi-automatic- Market Size & Forecast 2019-2030, (USD Million)

o   Fully Automatic- Market Size & Forecast 2019-2030, (USD Million)

·       By End User

o   Automotive- Market Size & Forecast 2019-2030, (USD Million)

o   Mining- Market Size & Forecast 2019-2030, (USD Million)

o   Water & Wastewater Management- Market Size & Forecast 2019-2030, (USD Million)

o   Electronic & Semiconductors- Market Size & Forecast 2019-2030, (USD Million)

o   Energy- Market Size & Forecast 2019-2030, (USD Million) & Power

o   Food & Beverages- Market Size & Forecast 2019-2030, (USD Million)

o   Oil & Gas- Market Size & Forecast 2019-2030, (USD Million)

o   Others (Pharmaceuticals, Chemicals, etc.) - Market Size & Forecast 2019-2030, (USD Million)

Explore the Complete Industrial Automation Market Analysis Report – https://www.marknteladvisors.com/research-library/global-industrial-automation-market.html

Geographical Analysis: Industrial Automation Market

o   North America

o   South America

o   Europe

o   The Middle East & Africa

o   Asia-Pacific

Industrial Automation Market Share & Competitive Landscape:

The Industrial Automation Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Industrial Automation Market are:

• 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
• General Electric (GE) Company
• STMicroelectronics International N.V.
• Robert Bosch Gmbh (Bosch Group)
• WAGO Global

 Industrial Automation Industry Recent Development:

• 2024: Polysciences Inc., a leading chemical manufacturer partnered with Formic Automation to integrate automation into their manufacturing processes. Polysciences intended to increase operational efficiency by minimizing manual tasks that were becoming a production bottleneck and reducing the OPEX by 35%.  
• 2023: ABB India secured a contract to provide electrification and automation systems for ArcelorMittal Nippon Steel India's (AM/NS India) advanced steel cold rolling mill in Hazira, Gujarat. The project includes the installation of the ABB Ability System 800xA distributed control system along with relevant machinery and supplies.
• 2022: Dwyer Instruments launched the Series 685 differential pressure transmitter. These transmitters can be set up in any orientation and come equipped with a response time that is adaptable as per user preferences, eliminating the need for external calibration equipment.

 Questions Addressed in this Study

1.What factors are driving the Industrial Automation Market growth?

2.How is the Industrial Automation Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Industrial Automation Market?

4.What is the current size of the Industrial Automation Market, and how is it projected to change in the future?

6.What is the future outlook for the Industrial Automation Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, 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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