Pune, Jan. 23, 2023 (GLOBE NEWSWIRE) -- A global Automotive and Transportation business-consulting firm, Maximize Market research, has published a market intelligence and competitive landscape report on the “Industrial Automation Market“. The report is a combination of primary data and secondary data and the domain expert has analyzed the market from local as well as the global point of view. Over the forecast period, the market is to grow from USD 133.10 Bn in 2021 to USD 217.2 Bn in 2029 at a CAGR of 8.5 percent.
Industrial Automation Market Report Scope and Research Methodology
The main objective of the research is to provide a comprehensive analysis of the Industrial Automation Market in a simple language and market forecast from 2022 to 2029 in terms of value and volume. To understand the underlying factors that have an impact on the Industrial Automation Market, the report focuses on analyzing the key drivers, major restraints, challenges and opportunities prevailing in the market. For research and easy understanding, the market has been divided into three major segments: components, solutions and industry, which are further divided into various sub-segments. The report also provides a detailed region-wise analysis of the Industrial Automation Market.
The report is a clear representation of the competitive scenario in the Industrial Automation Market. It provides a detailed analysis of major players that include market leaders, followers, and new entrants in the industry at global, regional and local levels by type, financial position, price, growth strategies, raw material portfolio and regional presence. The report also includes details like company overviews, investments by key players in research and development and production capacities.
The bottom-up approach was used to estimate the industrial automation market size by value and volume. To collect the data, primary and secondary research methods were used and the data collected by using both research methods were combined to make the report authentic. Primary interviews were carried out with the stakeholders in the industry that include consultants, end-users and manufacturers while secondary sources include annual reports from key market players, paid sources and manufacturing associations of industrial robotics. SWOT analysis was conducted to provide the strengths and weaknesses of the Industrial Automation Market. PORTER, PESTLE analysis was employed to understand the potential impact of micro-economic factors of the Industrial Automation Market.
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Industrial Automation Market Overview
Industrial automation is the utilization of technologies like computer software and robotics to control processes and machinery which performs specific functions more efficiently and in less time than human beings. The industrial automation market is majorly growing due to the high adoption of automation solutions in the chemicals & materials, oil & gas, pharmaceuticals and manufacturing sectors.
Industrial Automation Market Dynamics
The increasing adoption of industry 4.0, AI-based smart robots and the advent of 5G wireless technology is majorly driving the industrial automation market growth. Industrial automation systems eliminate human errors and improve the quality and homogeneity of the products delivered by using adaptive control and monitoring in many stages of industrial processes. Therefore, the increasing need to eliminate human error and reduce costs is expected to drive market growth during the forecast period. favorable government initiatives and supportive policies are also expected to drive market growth. The lack of trained experts is expected to be a major challenge to the industrial automation market growth during the forecast period.
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Industrial Automation Market Regional Insights
During the forecast period, the industrial automation market in the Europe region is expected to grow at the highest CAGR. The market growth in the region is majorly due to the increasing demand for IoT solutions for the innovative automation process in the manufacturing and automotive industry. Asia Pacific region has been the major contributor to the growth of the industrial automation market due to the growing industrialization and increasing adoption of innovative industrial technologies. Governments in Asia Pacific and Europe are increasing the adoption of industrial technologies and systems for the digitalization of their respective manufacturing sectors, which is expected to drive market growth during the forecast period.
| Market Size in 2021 | USD 133.10 Bn. |
| Market Size in 2029 | USD 217.2 Bn. |
| CAGR | 8.5 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 200 |
| No. of Tables | 101 |
| No. of Charts and Figures | 99 |
| Segment Covered | Components, Solutions and Industry |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Industrial Automation Market Segmentation
By Components
- Industrial Robots
- Machine Vision System
- Process Analyzer
- Field Instruments
- Human Machine Interface (HMI)
- Industrial PC
- Industrial Sensors
- Industrial 3D Printing
- Vibration Monitoring
By Solutions
- Supervisory Control And Data Acquisition (SCADA)
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- Manufacturing Execution System (MES)
- Industrial Safety
- Plant Asset Management (PAM)
By Industry
- Oil & Gas
- Chemicals
- Pharmaceuticals & Medical Devices
- Food & Beverages
- Energy & Power
- Automotive
- Machine Manufacturing
- Water & Wastewater Treatment
- Electronics & Semiconductors
- Metals & Mining
- Others
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Industrial Automation Market Key Competitors include:
- ABB Ltd.(Switzerland)
- Honeywell International Inc.(US)
- FANUC Corporation(Japan)
- Yaskawa Electric Corporation(Japan)
- Toshiba Machine Corporation Ltd.(Japan)
- Yokogawa Electric Corporation(Japan)
- Emerson Electric Company(US)
- General Electric Company(US)
- Rockwell Automation, Inc.(US)
- Mitsubishi Electric Corporation(Japan)
- Voith GmbH(Germany)
- GE Company(US)
- Honeywell International Incorporation(US)
- Omron Corporation(Japan)
- Schneider Electric SA(France)
- Siemens AG(Germany)
- Kuka AG(Germany)
- Keyence Corporation(Japan)
- Fanuc Corporation(Japan)
- Bosch Rexroth(Germany)
- Fuji Electric Co., Ltd.(Japan)
- Endress+Hauser AG (Switzerland)
- Hitachi Ltd.(Japan)
- Yaskawa Electric Corporation(Japan)
- Danaher Corporation(US)
- NI(US)
- Ropoer Technologies(US)
- Phoenix Contact(Germany)
- AVEV( Ukraine)
Key questions answered in the Industrial Automation Market are:
- What is Industrial Automation?
- How is the Industrial Automation Market segmented and what is the size of each segment?
- What is the Industrial Automation Market size at the regional and country level?
- What is the growth forecast for the Industrial Automation Market?
- Which segments and regions provide the best growth opportunities?
- What are the global trends in the Industrial Automation Market?
- What are the upcoming industry applications and trends for the Industrial Automation Market?
- What growth strategies are the players considering to increase their presence in Industrial Automation Market?
- What are the major challenges that the Industrial Automation Market could face in the future?
- What are the key outcomes of SWOT and Porter's five analysis?
- Who held the largest market share in Industrial Automation Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading automation and process control research firm, has also published the following reports:
Industrial Automation Oil & Gas Market - The market size is expected to reach USD 26.16 billion by 2029 at a CAGR of 4.7 percent during the forecast period. The market is expected to be driven by the increasing demand for crude oil and petroleum.
Industrial Robotics Market - The market size is expected to reach USD 103.34 billion by 2029 at a CAGR of 11.8 percent during the forecast period. The market is expected to be driven by high requirements for automation and increasing investments in R&D Activities.
RPA & Hyper Automation Market - The market size is expected to reach USD 44.1 billion by 2029 at a CAGR of 23.4 percent during the forecast period. The market is expected to be driven by the increasing implementation of robotic process automation and rising investments by small and medium enterprises in the automation industry.
Hyper Automation Market - The market size is expected to reach USD 31.4 billion by 2029 at a CAGR of 18.2 percent during the forecast period. The market is expected to be driven by the increasing use of advanced hyper-automation to gather important insights.
Home Automation System Market - The market size is expected to reach USD 74.5 billion by 2029 at a CAGR of 6.59 percent during the forecast period. Home automation is designed to monitor or automate home security with the help of devices like smart door locks, cameras and video doorbells. Therefore, the home automation security market is expected to be driven by the increasing demand for safety and security for homes and people.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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