Global Industrial Automation Market Size By Components (Enterprise-level Controls, Plant Instrumentation), By End Users (Oil and Gas, Chemicals and Materials), By Geographic Scope And Forecast

Industrial Automation Market Size And Forecast

Industrial Automation Market size was valued at USD 194.3 Billion in 2020 and is projected to reach USD 350 Billion by 2028, growing at a CAGR of 7.8% from 2021 to 2028.

The expansion of the Industrial Automation Market is being fueled by increased expenditures in the transformation of traditional manufacturing facilities through the installation of digitized systems. The Global Industrial Automation Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Industrial Automation Market Definition

Okay, so Industrial Automation is basically when you swap out people with computers or robots to run your machines and processes in a factory. Think of it as the next level after just making things mechanical. One of the big reasons companies do this is because it cuts down on costs. You don't have to pay for things like health insurance, sick days, or vacation time that you'd normally give to a human employee. Plus, you skip all those extra perks like bonuses and retirement plans. Sure, setting it all up can cost a pretty penny upfront, but in the long run, you save a ton of cash by not having to pay those monthly salaries.

Machines used for Industrial Automation have lower maintenance costs since they are less likely to fail. Only computer and maintenance engineers are required to repair it if it fails. An engineer from Ford Motor Company, who were pioneers in Industrial Automation and manufacturing assembly lines, created the term “automation.” In contrast to today’s sensors, actuators, and computers, the industrial production process once relied on a worker’s eyes, hands, and brain. The error associated with a human being is reduced via automation.

Think about itrobots don't get tired like we do! That means you get the same quality, no matter when something's made. Plus, if you want to add a new step to the assembly line, you have to train people. But with robots? Just teach them the new task! This gives you way more flexibility in making things. While many companies hire tons of workers for multiple shifts to keep the factory humming, they still have to close down for maintenance and holidays. But Industrial Automation lets the company run their production plant 24/7, all year round! They can really achieve their goals.

Global Industrial Automation Market Overview

The expansion of the Industrial Automation Market is being fueled by increased expenditures in the transformation of traditional manufacturing facilities through the installation of digitized systems. Automated technologies for asset and staff management, as well as production processes, are used to transform traditional manufacturing facilities. Over the forecast period, the movement toward self-reliant IoT sensors is likely to boost the growth of the Industrial Automation Market, as they can efficiently manage a network of physical items. Several end-user organizations are heavily investing in automation technology in order to reduce costs and increase production.

The COVID-19 pandemic, with all the factories and workshops shut down around the globe, definitely took a hit on the market, you know? Things got pretty tough for manufacturing in early 2020, so demand for robots and automation dipped. But, things are starting to look up! As factories started opening again in 2021, the market's been bouncing back. It's because everyone's trying to automate to keep people apart and stop the virus from spreading. Automation is key now.

So, things started picking up again in 2021 for this area! As manufacturing plants and factories reopened, the need to automate things really took off. Think about itwith the coronavirus still a concern, limiting human contact is super important. That's why we're seeing more Industrial Automation, making the most of resources, and using cool new tech in manufacturing. Plus, the push for industrial robots (especially those collaborative robots that work alongside people!) and connected factories is huge. Add in the need to mass-produce to keep up with a growing population, and government programs encouraging Industrial Automation in different industries, and you've got a market that's really booming.

Because of the widespread adoption of automation solutions in the manufacturing, oil & gas, chemicals & materials, and pharmaceutical industries, the Industrial Automation industry is fast expanding. Companies can dramatically cut operating and labor expenses by implementing automation components such as sensors, robotics, machine vision systems, and enterprise control solutions. Manufacturing organizations are rapidly investing in Industrial Automation technology in order to increase system reliability and efficiency, as well as remove human labor-related production mistakes.

But here's the thingin developing countries, it's tough finding enough skilled people to actually run these complex systems, which really slows down growth. Meanwhile, governments in Europe and Asia-Pacific are all about getting their factories digitized, so they're pushing hard for companies to adopt Industrial Automation. Take China, for example. As part of their Made in China 2025 plan, the Chinese government threw a whopping $577 million into developing industrial robots back in 2019! Their whole idea is to seriously upgrade China's manufacturing game. The plan is to create leading robot companies, build 8–10 industrial hubs, and pack way more robots into their factories with their five-year Robot Industry Development Plan.

Global Industrial Automation Market Segmentation Analysis

The Global Industrial Automation Market is segmented on the basis of Components, End Users, And Geography.

Industrial Automation Market, By Components

• Enterprise-level Controls
• Plant Instrumentation
• Plant-level Controls

Based on Components, The market is bifurcated into Enterprise-level Controls, Plant Instrumentation, and Plant-level Controls. Because of the increased use of SCADA and PLC in industrial processes for maximizing human and machine resources, the Plant-level Controls segment is predicted to increase at the fastest rate over the projection period. SCADA systems provide capabilities that enable businesses to improve processing, packaging, quality standards, and reporting of operational process specifics.

Industrial Automation Market, By End Users

• Oil & Gas
• Chemicals & Materials
• Paper & Pulp
• Pharmaceuticals & Biotech
• Mining & Metals
• Food & Beverage
• Power
• Consumer Goods
• Automotive
• Machines & Tools
• Semiconductors & Electronics
• Aerospace & Defense
• Other End Users

Based on End Users, The market is bifurcated into Oil & Gas, Chemicals & Materials, Paper & Pulp, Pharmaceuticals & Biotech, Mining & Metals, Food & Beverage, Power, Consumer Goods, Automotive, Machines & Tools, Semiconductors & Electronics, Aerospace & Defense, and Other End Users. The Oil & Gas segment held the highest proportion of the Industrial Automation Market in 2020. Oil & Gas companies are progressively employing automation technology to improve decision-making and troubleshooting, as well as to improve the performance and efficiency of their exploration activities.

Industrial Automation Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, The Global Industrial Automation Market is classified into North America, Europe, Asia-Pacific, and the rest of the world. Due to the presence of large-scale companies in these regions, Asia-Pacific will hold the greatest share of the Industrial Automation Market in 2020, followed by Europe and North America. The major manufacturers and end-users of industrial robots, sensors, and machine vision systems are Asian countries, particularly China and Japan.

Key Players

The “Global Industrial Automation Market” study report will provide valuable insight with an emphasis on the global market. The major players in the Market are Emerson (US), ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider (France), Endress+Hauser (Switzerland), Yokogawa (Japan), Honeywell (US), WIKA (Germany), Azbil (Japan), Rockwell Automation, KUKA AG, OMRON Corporation, Yaskawa Electric Corporation. The competitive landscape section also includes key development strategies, Market share, and MARKET ranking analysis of the above-mentioned players globally.

Key Developments

• February 2021ABB launched cobots portfolio in GoFa and SWIFTI cobot families. These cobots will offer higher payloads capacity and speed in movement of robots that will complement YuMi and Single Arm YuMi in ABB’s cobot lineup.
• January 2021Omron launched the i4 series SCARA robot, which automates high-speed, high-precision assembly and transportation with easy installation. The i4 series consists of an i4H medium to large-sized, high-performance model and an i4L compact-sized model suitable for lightweight applications. By seamlessly integrating and controlling the “i4 series” robots and the robot-hands (End Effector*1) and other peripheral devices, the interlocking of each device is enabled and complicated tasks could not be done with conventional SCARA robots are now automated.
• November 2020Rockwell Automation introduced the updated version of its asset management software FactoryTalk AssetCentre software. The latest software release helps workers more easily manage device firmware and expands disaster-recovery support to several new devices.

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Reasons to Purchase this Report

We dive deep into the market using both qualitative and quantitative analysis, breaking it down by segment based on things like economics and even less obvious factors. You'll get hard numbers – market value (in USD Billion!) – for every segment and sub-segment. We'll also point out which region and segment we think will be the rocket ship, showing the fastest growth and likely dominating the market. Expect a region-by-region breakdown, highlighting product/service consumption and what's influencing the market in each place. We'll also map out the competitive landscape, ranking the big players and noting their latest moves – new launches, partnerships, expansions, and acquisitions over the last five years. You'll get detailed company profiles too, including company overviews, key insights, product comparisons, and even a SWOT analysis for the major players. Plus, we'll give you our take on the current and future market outlook, covering recent developments, growth opportunities, and the challenges and roadblocks in both emerging and developed regions. We provide an in-depth look using Porter's five forces and give you insight into the Value Chain. Finally, we will cover the market dynamics and future growth possibilities. Oh, and we include 6 months of post-sales analyst support!

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