Industrial Automation Market Report Probes the USD billion Size, Share, Growth Report and Future Analysis by 2033

Key Insights

The Industrial Automation Marketsize was valued at USD 205.86 USD billion in 2023 and is projected to reach USD 675.46 USD billion by 2032, exhibiting a CAGR of 18.5 % during the forecast period.Industrial automation is the application of computer-based systems and information technology to control and monitor the processes of an industry. This practice makes it more effective, productive, and safe since it limits the possible involvement of human beings in the manufacturing industry. Characteristics of industrial automation include PLCs, HMIs, robotic systems, and specialized sensors to allow variation monitoring and control. The benefits of industrial automation are numerous. It increases production rates and the quality of end products as it largely reduces human interaction. Automation helps to eliminate hazardous jobs and conditions, lower operational expenses through the utilization of energy and resources and provide more elasticity in job processes as adjustments in the way production is conducted can be implemented much more rapidly than otherwise could be expected.

Industrial Automation Trends

• Growing adoption of Industry 4.0 technologies
• Increasing demand for automated production lines
• Integration of artificial intelligence (AI) and machine learning (ML)

 Driving Forces: What's Propelling the Industrial Automation Market

• Surging demand for increased productivity and automation to meet production goals
• Necessity to optimize operational costs and minimize labor expenses
• Growing emphasis on enhancing product quality and consistency through automation

 Challenges and Restraints in Industrial Automation Market

• High initial investment costs
• Skilled labor shortage for implementation and maintenance
• Heightened security concerns due to cyber threats
• Integration challenges with legacy systems
• Limited interoperability between different automation systems

 Emerging Trends in Industrial Automation

• Collaborative robotics
• Predictive maintenance
• Virtual reality and augmented reality (VR/AR) for training and simulation

 Growth Catalysts in Industrial Automation Industry

• Government Initiatives & Supportive Policies: Proactive government policies and initiatives worldwide are actively encouraging manufacturing automation adoption, providing subsidies, tax incentives, and regulatory frameworks that streamline the integration of advanced automation solutions.
• Emerging Economies & Industrialization Boom: Rapid industrialization in emerging economies, particularly in Asia-Pacific and Latin America, is a significant demand driver. These regions are increasingly investing in modernizing their manufacturing capabilities, leading to a surge in the adoption of automation systems to enhance productivity and competitiveness.
• Technological Advancements in Sensors & Actuators: Continuous innovation in sensor and actuator technologies is a key growth engine. The development of more sensitive, intelligent, and robust sensors, coupled with sophisticated actuators, enables higher levels of precision, real-time data collection, and more efficient and adaptable automation solutions across diverse industrial applications.
• Integration of AI & Machine Learning: The growing adoption of Artificial Intelligence (AI) and Machine Learning (ML) is transforming the industrial automation landscape. These technologies are enabling smarter robots, predictive analytics for process optimization, enhanced quality control, and autonomous decision-making, leading to significant improvements in operational efficiency and flexibility.
• Emphasis on Predictive Maintenance & Remote Monitoring: The increasing focus on predictive maintenance and remote monitoring capabilities is a critical growth factor. Industries are leveraging IoT devices and data analytics to anticipate equipment failures, minimize downtime, reduce maintenance costs, and optimize asset utilization through real-time performance monitoring from any location.

 Market Segmentation: Industrial Automation Analysis

Component:

• Hardware
• Software

Industry:

• Discrete Automation
• Process Automation

 Leading Players in the Industrial Automation Market

• ABB Ltd. (Switzerland)
• Emerson Electric Co. (U.S.)
• General Electric Company (U.S.)
• Honeywell International Inc. (U.S.)
• Mitsubishi Electric Corporation (Japan)
• Omron Corporation (Japan)
• Rockwell Automation Inc. (U.S.)
• Schneider Electric SE (France)
• Siemens AG (Germany)
• Yokogawa Electric Corporation (Japan)

 Significant developments in Industrial Automation Sector

• ABB's acquisition of ASTI Mobile Robotics in 2021
• GE's launch of its Predix Industrial IoT platform in 2015
• Honeywell's collaboration with Microsoft to develop cloud-based automation solutions in 2020

 Comprehensive Coverage Industrial Automation Market Report

This comprehensive report offers in-depth insights into the industrial automation market, providing a holistic view of its current state and future trajectory. It meticulously covers key aspects essential for strategic decision-making, including:

• Detailed Market Size Analysis & Forecasts: Thorough examination of current market size, historical trends, and robust projections for the forecast period, offering a clear understanding of market volume and value.
• Granular Segmentation Analysis: In-depth segmentation by industry vertical (e.g., automotive, pharmaceuticals, food & beverage), product type (e.g., PLCs, DCS, robotics), and application (e.g., process automation, discrete automation) to identify specific growth pockets and market dynamics.
• Regional Market Insights: Comprehensive analysis of regional market trends, growth potential, and key influencing factors across major geographical areas, highlighting opportunities and challenges unique to each region.
• In-depth Competitive Landscape: A detailed assessment of the competitive environment, including precise market share analysis of key players, identification of strategic alliances, and insights into their go-to-market strategies.
• Vendor Profiles & Strategic Analysis: In-depth profiles of leading companies, encompassing their product portfolios, technological capabilities, financial performance, and strategic initiatives, providing a competitive edge for market participants.
• Identification & Analysis of Major Growth Drivers: Expert identification and detailed analysis of the primary factors fueling market expansion, including technological advancements, evolving industry demands, regulatory landscapes, and economic influences, enabling stakeholders to capitalize on emerging opportunities.

 Regional Insight

• North America continues to lead the market, driven by advanced manufacturing and strong industrial infrastructure
• Asia-Pacific remains the fastest-growing region, fueled by rapid industrialization and government initiatives
• Europe holds a significant market share, characterized by a high concentration of industrial automation providers
• South America and the Middle East are emerging markets with potential for growth

 Recent Mergers & Acquision

• Siemens acquires Mendix in 2019
• ABB acquires ASTI Mobile Robotics in 2021
• Schneider Electric acquires Aveva in 2020

 Regulation

• Industrial automation is subject to various industry standards and regulations, such as:
• ISO 9001
• IEEE 802
• IEC 61508

 Patent Analysis

• There has been a significant increase in patent filings related to industrial automation technologies, particularly in areas such as:
• Predictive maintenance
• Collaborative robotics
• AI-powered automation

Analyst Comment

"The industrial automation market is poised for significant growth as businesses continue to adopt Industry 4.0 technologies to improve productivity and efficiency. The integration of AI, VR/AR, and collaborative robots is expected to drive market adoption further in the coming years."