The Industrial Automation Market size was estimated at USD 182.1 Billion in 2023 and is expected to reach USD 348.45 Billion by 2031 at a CAGR of 8.45% during the forecast period of 2024-2031.
The industrial automation market is experiencing robust growth, driven by the increasing demand for efficient and cost-effective manufacturing processes across various industries. Automation technologies, including robotics, artificial intelligence (AI), and machine learning, are being rapidly adopted to enhance production efficiency, reduce human error, and minimize operational costs. The integration of these technologies with advanced control systems and sensors is enabling industries to achieve higher levels of precision and flexibility in manufacturing, thereby fueling market expansion. Additionally, the growing focus on Industry 4.0, which emphasizes smart manufacturing and the Internet of Things (IoT), is further propelling the demand for automation solutions.
Furthermore, the industrial automation market is witnessing significant advancements in automation software and platforms, which are designed to optimize and streamline complex industrial processes. Companies are increasingly investing in automation solutions that offer real-time monitoring, predictive maintenance, and data analytics to improve decision-making and reduce downtime. The emergence of collaborative robots, or cobots, is also transforming the market, as these robots work alongside humans to enhance productivity and safety in the workplace. As industries continue to prioritize sustainability and energy efficiency, the adoption of automation technologies that reduce waste and lower energy consumption is expected to rise, contributing to the sustained growth of the industrial automation market.
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360° coverage of the Industrial Automation industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Industrial Automation market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, and other players.
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Industrial Automation market.
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It has segmented the global Industrial Automation market
By Components
Hardware
- Photoelectric
- Laser
- Inductive
- Others
- Motor
- AC
- DC
- Drive
Sensors
- PLC
- HMI
- Servo
- Laser Markers
- Safety Light Curtain
- Robots
Software
By Industry
- Discrete Automation
- Automotive
- Electronics
- Heavy Manufacturing
- Packaging
- Others
Process Automation
- Oil & Gas
- Chemicals
- Pulp & Paper
- Mining and Metals
- Healthcare
- Others
Key Points Covered in the Report:
- A thorough analysis of value and volume at the worldwide, sector, and regional levels is included in the global Industrial Automation ' market report.
- The study offers a full business size Industrial Automation ' from a global point of view through a review of past facts and possible scenarios.
- Geographically, the Industrial Automation of market analysis includes the number of regions and their contrast of revenue.
- The market analysis focuses on ex-factory costs, output volume, market share & sales for every manufacturer on a company level basis.
Key Reasons to Purchase this Report:
- A comprehensive study of market size, share and dynamics is a global Industrial Automation 'market research report and a thorough survey of developments in the field.
- It offers an in-depth overview of revenue growth and an analysis of the total business benefits.
- In addition to the strategic landscape for commodity pricing and marketing, the Industrial Automation ' industry research also provides key players.
- This is a new post covering the latest impact on the target market. The research report addresses the rapidly evolving market climate as well as the initial and future impact assessment.
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