Industrial Automation and Control Systems Market Growth Accelerated by Increased Adoption of Industry 4.0 Technologies.
Industrial automation and control systems are vital components that enable manufacturing processes and industrial operations by controlling machinery and processes via computational control systems like SCADA, DCS, PLC, and industrial PC. Industrial automation helps optimize productivity and minimize unplanned downtime while improving product quality. It allows remote monitoring of industrial plants and facilities from any location. The growing need for maximum productivity with minimum resources is driving the demand for industrial automation.
The global Industrial Automation and Control Systems Market is estimated to be valued at US$ 174.53 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of Industry 4.0 technologies is one of the major trends fueling the growth of the industrial automation and control systems market. Industry 4.0 technologies such as IIoT, artificial intelligence, big data analytics, cloud computing, and cybersecurity are enabling the digital transformation of the manufacturing sector. These technologies offer improved operational efficiency, reduced downtime, predictive maintenance, optimized energy consumption, and data-driven decision making. Their integration with industrial automation systems provides real-time analysis of production data. This helps manufacturers enhance productivity and flexibility while reducing costs. Owing to considerable benefits, many industries are increasingly focusing on implementing Industry 4.0 technologies along with automation solutions, which is propelling the demand for industrial automation and control systems.
Segment Analysis
The global industrial automation and control systems market is dominated by the discrete automation segment. This is because discrete automation systems are used widely across industries like automotive, electronics, food & beverages etc for applications involving movement of material from one station to another on a production line. They allow precise control over individual parts and components during assembly and packaging processes.
Key Takeaways
The Global Industrial Automation And Control Systems Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows that Asia Pacific region currently dominates the market and is expected to continue its dominance due to rapid industrialization and presence of manufacturing hub countries like China, India, Japan etc in the region.
Key players operating in the industrial automation and control systems market are Siemens, ABB, Emerson Electric Co., Mitsubishi Electric Corporation, Schneider Electric, Rockwell Automation, Inc., General Electric, Honeywell International Inc., Yokogawa Electric Corporation and Omron Corporation.
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