Industrial Automation Market Growth Report | 2022-2030

Industrial Automation Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), System (Supervisory Control and Data Acquisition, Distributed Control System, Programmable Logic Control, and Other), and End User (Oil & Gas, Automotive, Food & Beverages, Chemical & Materials, Aerospace & Defense, and Others)

Publication Month : Sep 2023

  • Report Code : TIPRE00025985
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 217
Inquire Before Buy

PRICING

$4550

$3640

[Research Report] The industrial automation market size was valued at US$ 171.23 billion in 2022 and is expected to reach US$ 322.67 billion by 2030; it is estimated to record a CAGR of 8.2% from 2022 to 2030.

Industrial Automation Market Analyst Perspective:

The increasing penetration of advanced technology, such as Machine Learning (ML), the Internet of Things (IoT), and Artificial Intelligence (AI), has helped accelerate the growth of the industrial automation market. Furthermore, the rising product development and strategic initiatives from key industrial control systems companies is fueling the industrial automation market growth. In 2020, the two companies—Honeywell International Inc. and Tech Mahindra Limited—partnered with "Factories of the Future" to boost their digital transformation by empowering manufacturers. Also, Siemens collaborated with SAP SE to offer industry 4.0-enabled business processes to enterprises. Further, the growing update of the industrial automation  Internet of Things (IIoT) and the upcoming engineering 5G technology are a few factors contributing to market growth during the forecast period. Moreover, the penetration of connected enterprises and the need for mass manufacturing of products due to the growing demand for real-time data analysis across the globe and the rising uptake of advanced technology across end-use industries to improve performance are promoting automation trend in manufacturing. In September 2020, the government of the UK announced its plans to invest ~US$ 180 million into the second stage of its scheme—Manufacturing Made Smarter—to promote interconnectivity and innovation in the manufacturing industry.

Industrial Automation Market Overview:

Industrial automation uses control systems, such as robots, computers, and information technologies, to handle various machinery in an industry to replace human intervention. Depending on the operations involved, industrial automation control systems are majorly classified into two types, namely process plant automation and manufacturing automation. Industrial automation offers high product quality, reliability, and production rate while reducing production and design costs by deploying new, innovative, and integrated technologies and services. They possess various features, such as high productivity, quality, flexibility, and information accuracy, which are likely to increase the uptake of automation in the industrial sector during the forecast period. Also, the surge in the uptake of automation solutions in the oil & gas, manufacturing, chemicals & materials, pharmaceuticals, and other industries, is driving the industrial automation market growth.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Industrial Automation Market: Strategic Insights

industrial-automation-market
Market Size Value inUS$ 171.23 billion in 2022
Market Size Value byUS$ 322.67 billion by 2030
Growth rateCAGR of 8.2% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Market Driver:

Rising Adoption of Automation in Food & Beverage Industry to Fuel Growth of Industrial Automation Market During Forecast Period

Automation in the food & beverages industry refers to strategic integrations of technologies across various production processes, such as inspection, packaging, and storage. Over the years, food & beverages companies have optimized different production processes through the uptake of automated systems, such as delta robots, automated guided vehicles, and robotic arms, to be in line with various food safety & quality standards laid down by regulatory bodies and reduce overall labor cost across production sites.

Consumer-packed food & beverages require high accuracy and repetitive packaging process, which becomes challenging for humans. This factor is influencing the uptake of robotic technologies for activities, such as primary and secondary packaging and palletizing. Vision-guided robots are experiencing a rise in demand across the sector due to their efficiency in completing repetitive tasks, such as bottle handling, bin picking, and tray loading. Numerous benefits, including enhanced traceability, improved efficiency, and high flexibility, have been driving the need for automation in the food & beverages industry over the years. These factors have encouraged food & beverage producers to invest heavily in automated technology integration across their production facilities. For instance, a US-based snack brand, Utz Brands Inc., announced its plans to integrate automated capabilities across its production plants to reduce its overall operational cost in 2021. Similarly, Hormel Foods is also planning to incorporate automation across its production facilities in 2022. Other food & beverages brands rapidly adopting automated technology include Tyson Foods and Cargill, Inc. Thus, the rise in investment in automation across the food & beverages industry is fueling the growth of the industrial automation market.

Report Segmentation and Scope:

The industrial automation market is segmented on the basis of component, system, end user, and geography. Based on component, the industrial automation market is bifurcated into hardware and software. Based on system, the industrial automation market is segmented into supervisory control and data acquisition, distributed control system, programmable logic control, and other. Based on end user, the industrial automation market is segmented into oil & gas, automotive, food & beverages, chemical & materials, aerospace & defense, and others. The industrial automation market, based on geography, is categorized into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Segmental Analysis:

Based on component, the industrial automation market is bifurcated into:

  1. Hardware 
  2. Software

The hardware segment held a larger industrial automation market share in 2022 and is anticipated to register a higher CAGR in the market during the forecast period. Hardware is an essential part of manufacturing and process production. Innovations by automation machinery manufacturing companies in hardware are a prerequisite for complementing and fulfilling any significant technological development in the industry. The different types of industrial hardware used for automation are motor & drives, 

sensors, robots, machine vision systems, and others.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Regional Analysis:

The industrial automation market is broadly categorized into major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Furthermore, Asia Pacific registered the largest industrial automation market share in 2022, followed by Europe and North America. The same region is expected to record the highest CAGR in the market from 2022 to 2030.

Several government initiatives and policies promoting the digitization of manufacturing plants are boosting the adoption of industrial control automation solutions in this region. For instance, under the initiative “Made in China 2025,” the Chinese government set a 5-year smart manufacturing development target to digitize 70% of the large enterprises in the country. Moreover, to automate manufacturing facilities, various countries across the globe are deploying industrial robots. For instance, per the International Federation of Robotics (IFR), in 2020, China installed 154,000 industrial robots. Similarly, South Korean robot installation increased by 2% to 31,083 units in 2021 compared to 2020.

Key Player Analysis:

The key industrial automation market players profiled in the report are ABB Ltd.; Bosch Rexroth AG; Emerson Electric Co.; Hitachi Ltd.; Honeywell International, Inc.; Mitsubishi Electric Corporation; Omron Corporation; Rockwell Automation, Inc.; Schneider Electric SE; and Siemens AG are the top industrial automation market players as they offer diversified product portfolios.

Recent Developments:

Inorganic and organic strategies are highly adopted by the industrial automation market players. A few recent key market developments are listed below: 

  • In 2023, ABB India secured a significant contract for the electrification and automation of ArcelorMittal Nippon Steel India's advanced cold rolling mill in Hazira. ABB's technology aimed to enhance energy efficiency, zinc consumption optimization, and corrosion resistance, aligning with AM/NS India's sustainability goals. This collaboration showcased industrial automation's transformative potential.
  • In 2023, Emerson Electric's acquisition of National Instruments for US$ 8.2 billion in April 2023 marked a strategic move to fortify its presence in industrial automation. The deal aligned with Emerson's pursuit of testing and measurement growth, tapping into National Instruments' software-driven automated systems to deliver enhanced profitability and industry diversification. This step reflected the surge in demand for advanced automation solutions.
  • In 2023, Hitachi's strategic merger of Hitachi Automation and Kyoto Robotics aimed to enhance the company's robotic systems integration prowess in Japanese and Asean markets. This move facilitated comprehensive solutions for manufacturing and logistics automation, capitalizing on Hitachi's digital solutions and Kyoto Robotics' intelligent vision systems. This merger underlines the growing emphasis on advanced automation in industry.
  • In 2023, Mitsubishi Electric's strategic investment in Clearpath Robotics marked a significant move in advancing industrial automation. The investment aims to enhance complete factory optimization through autonomous mobile robots (AMR), showcasing the commitment to open innovation and fostering growth of manufacturing automation.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, System, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


Which is the leading type segment in the industrial automation market?

Hardware segment is expected to hold a major market share of industrial automation market in 2022.

What will be the global market size of industrial automation market by 2028?

The global market size of industrial automation market by 2028 will be around US$ 322.67 billion

What is the incremental growth of the industrial automation market during the forecast period?

The industrial automation market is expected to register an incremental growth value of US$ 151.44 billion during the forecast period.

What is the estimated global market size for the Industrial Automation Market in 2022?

The Americas vibrating screen market was estimated to be US$ 171.23 billion in the year 2022 and is expected to grow at a CAGR of 8.2%, during the forecast period 2022 - 2030.

What are the driving factors impacting the Industrial Automation Market?

Rising Uptake of Automation across Food & Beverage Industry is driving the market.

What are the future trends of the Industrial Automation Market?

Surging Demand for Automation in the E-commerce Industry can be a future driver for the industrial automation market.

Which are the key players holding the major market share of Industrial Automation Market?

The key players, holding majority shares, in industrial automation market includes ABB Ltd, Siemens AG, Schneider Electric SE, Emerson Electric Co and Rockwell Automation Inc.

Which country is holding the major market share of industrial automation market?

The US is expected to hold a major market share of industrial automation market in 2022.

The List of Companies - Industrial Automation Market

  1. ABB Ltd
  2. Bosch Rexroth AG
  3. Emerson Electric Co
  4. Hitachi Ltd
  5. Honeywell International Inc
  6. Mitsubishi Electric Corp
  7. OMRON Corp
  8. Rockwell Automation Inc
  9. Schneider Electric SE
  10. Siemens AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Industrial Automation Market