[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.
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Industrial Automation Market: Strategic Insights
Market Size Value in US$ 171.23 billion in 2022 Market Size Value by US$ 322.67 billion by 2030 Growth rate CAGR of 8.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Industrial Automation Market: Strategic Insights
| Market Size Value in | US$ 171.23 billion in 2022 |
| Market Size Value by | US$ 322.67 billion by 2030 |
| Growth rate | CAGR of 8.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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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.
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Segmental Analysis:
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Based on component, the industrial automation market is bifurcated into:
- Hardware
- 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.
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Regional Analysis:
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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
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, System, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Hardware segment is expected to hold a major market share of industrial automation market in 2022.
The global market size of industrial automation market by 2028 will be around US$ 322.67 billion
The industrial automation market is expected to register an incremental growth value of US$ 151.44 billion during the forecast period.
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.
Rising Uptake of Automation across Food & Beverage Industry is driving the market.
Surging Demand for Automation in the E-commerce Industry can be a future driver for the 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.
The US is expected to hold a major market share of industrial automation market in 2022.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Industrial Automation Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain:
5. Industrial Automation Market - Key Industry Dynamics
5.1 Drivers
5.1.1 Rising Uptake of Automation across Food & Beverage Industry
5.1.2 Increase in Machine Vision Systems Adoption for Industrial Automation
5.2 Market Restraints
5.2.1 Requirement of High Initial Investment
5.3 Market Opportunities
5.3.1 Integration of Robotics in the Construction Industry
5.4 Future Trends
5.4.1 Surging Demand for Automation in the E-commerce Industry
5.5 Impact of Drivers and Restraints:
6. Industrial Automation Market - Global Market Analysis
6.1 Industrial Automation Market Overview
6.2 Industrial Automation Market Revenue (US$ Billion), 2022 – 2030
6.3 Industrial Automation Market Forecast and Analysis
7. Industrial Automation Market Analysis - Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware Market Revenue and Forecasts To 2030 (US$ Billion)
7.1.3 Motors and Drives
7.1.3.1 Overview
7.1.4 Robots
7.1.4.1 Overview
7.1.5 Sensors
7.1.5.1 Overview
7.1.6 Machine Vision Systems
7.1.6.1 Overview
7.1.7 Others
7.1.7.1 Overview
7.2 Software
7.2.1 Overview
7.2.2 Software Market Revenue and Forecasts To 2030 (US$ Billion)
8. Industrial Automation Market Analysis - System
8.1 Supervisory Control and Data Acquisition
8.1.1 Overview
8.1.2 Supervisory Control and Data Acquisition Market Revenue and Forecasts To 2030 (US$ Billion)
8.2 Distributed Control System
8.2.1 Overview
8.2.2 Distributed Control System Market Revenue and Forecasts To 2030 (US$ Billion)
8.3 Programmable Logic Control
8.3.1 Overview
8.3.2 Programmable Logic Control Market Revenue and Forecasts To 2030 (US$ Billion)
8.4 Others
8.4.1 Overview
8.4.2 Others Revenue and Forecasts To 2030 (US$ Billion)
9. Industrial Automation Market Analysis – End User
9.1 Automotive
9.1.1 Overview
9.1.2 Automotive Market Revenue and Forecasts To 2030 (US$ Billion)
9.2 Oil and Gas
9.2.1 Overview
9.2.2 Oil and Gas Market Revenue and Forecasts To 2030 (US$ Billion)
9.3 Food and Beverage
9.3.1 Overview
9.3.2 Food and Beverage Market Revenue and Forecasts To 2030 (US$ Billion)
9.4 Chemicals and Materials
9.4.1 Overview
9.4.2 Chemicals and Materials Market Revenue and Forecasts To 2030 (US$ Billion)
9.5 Aerospace and Defense
9.5.1 Overview
9.5.2 Aerospace and Defense Market Revenue and Forecasts To 2030 (US$ Billion)
9.6 Others
9.6.1 Overview
9.6.2 Others Market Revenue and Forecasts To 2030 (US$ Billion)
10. Industrial Automation Market - Geographical Analysis
10.1 North America
10.1.1 North America Industrial Automation Market Overview
10.1.2 North America Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3 North America Industrial Automation Market Breakdown by Component
10.1.3.1 North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
10.1.4 North America Industrial Automation Market Breakdown by System
10.1.4.1 North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
10.1.5 North America Industrial Automation Market Breakdown by End User
10.1.5.1 North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
10.1.6 North America Industrial Automation Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 US Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.6.1.1 US Industrial Automation Market Breakdown by Component
10.1.6.1.2 US Industrial Automation Market Breakdown by System
10.1.6.1.3 US Industrial Automation Market Breakdown by End User
10.1.6.2 Canada Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.6.2.1 Canada Industrial Automation Market Breakdown by Component
10.1.6.2.2 Canada Industrial Automation Market Breakdown by System
10.1.6.2.3 Canada Industrial Automation Market Breakdown by End User
10.1.6.3 Mexico Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.6.3.1 Mexico Industrial Automation Market Breakdown by Component
10.1.6.3.2 Mexico Industrial Automation Market Breakdown by System
10.1.6.3.3 Mexico Industrial Automation Market Breakdown by End User
10.2 Europe
10.2.1 Europe Industrial Automation Market Overview
10.2.2 Europe Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.3 Europe Industrial Automation Market Breakdown by Component
10.2.3.1 Europe Industrial Automation Market Revenue and Forecasts and Analysis - By Component
10.2.4 Europe Industrial Automation Market Breakdown by System
10.2.4.1 Europe Industrial Automation Market Revenue and Forecasts and Analysis - By System
10.2.5 Europe Industrial Automation Market Breakdown by End User
10.2.5.1 Europe Industrial Automation Market Revenue and Forecasts and Analysis - By End User
10.2.6 Europe Industrial Automation Market Revenue and Forecasts and Analysis - By Countries
10.2.6.1 France Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.1.1 France Industrial Automation Market Breakdown by Component
10.2.6.1.2 France Industrial Automation Market Breakdown by System
10.2.6.1.3 France Industrial Automation Market Breakdown by End User
10.2.6.2 Germany Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.2.1 Germany Industrial Automation Market Breakdown by Component
10.2.6.2.2 Germany Industrial Automation Market Breakdown by System
10.2.6.2.3 Germany Industrial Automation Market Breakdown by End User
10.2.6.3 UK Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.3.1 UK Industrial Automation Market Breakdown by Component
10.2.6.3.2 UK Industrial Automation Market Breakdown by System
10.2.6.3.3 UK Industrial Automation Market Breakdown by End User
10.2.6.4 Italy Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.4.1 Italy Industrial Automation Market Breakdown by Component
10.2.6.4.2 Italy Industrial Automation Market Breakdown by System
10.2.6.4.3 Italy Industrial Automation Market Breakdown by End User
10.2.6.5 Russia Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.5.1 Russia Industrial Automation Market Breakdown by Component
10.2.6.5.2 Russia Industrial Automation Market Breakdown by System
10.2.6.5.3 Russia Industrial Automation Market Breakdown by End User
10.2.6.6 Rest of Europe Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.6.1 Rest of Europe Industrial Automation Market Breakdown by Component
10.2.6.6.2 Rest of Europe Industrial Automation Market Breakdown by System
10.2.6.6.3 Rest of Europe Industrial Automation Market Breakdown by End User
10.3 Asia Pacific Industrial Automation Market
10.3.1 Overview
10.3.2 Asia Pacific Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion)
10.3.3 Asia Pacific Industrial Automation Market Breakdown by Component
10.3.3.1 Asia Pacific Industrial Automation Market Revenue and Forecasts and Analysis - By Component
10.3.4 Asia Pacific Industrial Automation Market Breakdown by System
10.3.4.1 Asia Pacific Industrial Automation Market Revenue and Forecasts and Analysis - By System
10.3.5 Asia Pacific Industrial Automation Market Breakdown by End User
10.3.5.1 Asia Pacific Industrial Automation Market Revenue and Forecasts and Analysis - By End User
10.3.6 Industrial Automation Market Breakdown by Countries
10.3.6.1 Australia Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.1.1 Australia Industrial Automation Market Breakdown by Component
10.3.6.1.2 Australia Industrial Automation Market Breakdown by System
10.3.6.1.3 Australia Industrial Automation Market Breakdown by End User
10.3.6.2 China Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.2.1 China Industrial Automation Market Breakdown by Component
10.3.6.2.2 China Industrial Automation Market Breakdown by System
10.3.6.2.3 China Industrial Automation Market Breakdown by End User
10.3.6.3 India Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.3.1 India Industrial Automation Market Breakdown by Component
10.3.6.3.2 India Industrial Automation Market Breakdown by System
10.3.6.3.3 India Industrial Automation Market Breakdown by End User
10.3.6.4 Japan Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.4.1 Japan Industrial Automation Market Breakdown by Component
10.3.6.4.2 Japan Industrial Automation Market Breakdown by System
10.3.6.4.3 Japan Industrial Automation Market Breakdown by End User
10.3.6.5 South Korea Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.5.1 South Korea Industrial Automation Market Breakdown by Component
10.3.6.5.2 South Korea Industrial Automation Market Breakdown by System
10.3.6.5.3 South Korea Industrial Automation Market Breakdown by End User
10.3.6.6 Rest of Asia Pacific Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.6.1 Rest of Asia Pacific Industrial Automation Market Breakdown by Component
10.3.6.6.2 Rest of Asia Pacific Industrial Automation Market Breakdown by System
10.3.6.6.3 Rest of Asia Pacific Industrial Automation Market Breakdown by End User
10.4 Middle East & Africa
10.4.1 Middle East & Africa Industrial Automation Market Overview
10.4.2 Middle East & Africa Industrial Automation Market Revenue and Forecasts to 2030 (US$ Billion)
10.4.3 Middle East & Africa Industrial Automation Market Breakdown by Component
10.4.3.1 Middle East & Africa Industrial Automation Market and Forecasts and Analysis - By Component
10.4.4 Middle East & Africa Industrial Automation Market Breakdown by System
10.4.4.1 Middle East & Africa Industrial Automation Market and Forecasts and Analysis - By System
10.4.5 Middle East & Africa Industrial Automation Market Breakdown by End User
10.4.5.1 Middle East & Africa Industrial Automation Market and Forecasts and Analysis - By End User
10.4.6 Middle East & Africa Industrial Automation Market Revenue and Forecasts and Analysis - By Countries
10.4.6.1 South Africa Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.1.1 South Africa Industrial Automation Market Breakdown by Component
10.4.6.1.2 South Africa Industrial Automation Market Breakdown by System
10.4.6.1.3 South Africa Industrial Automation Market Breakdown by End User
10.4.6.2 Saudi Arabia Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.2.1 Saudi Arabia Industrial Automation Market Breakdown by Component
10.4.6.2.2 Saudi Arabia Industrial Automation Market Breakdown by System
10.4.6.2.3 Saudi Arabia Industrial Automation Market Breakdown by End User
10.4.6.3 UAE Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.3.1 UAE Industrial Automation Market Breakdown by Component
10.4.6.3.2 UAE Industrial Automation Market Breakdown by System
10.4.6.3.3 UAE Industrial Automation Market Breakdown by End User
10.4.6.4 Rest of Middle East & Africa Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.4.1 Rest of Middle East & Africa Industrial Automation Market Breakdown by Component
10.4.6.4.2 Rest of Middle East & Africa Industrial Automation Market Breakdown by System
10.4.6.4.3 Rest of Middle East & Africa Industrial Automation Market Breakdown by End User
10.5 South & Central America
10.5.1 South & Central America Industrial Automation Market Overview
10.5.2 South & Central America Industrial Automation Market Revenue and Forecasts to 2030 (US$ Billion)
10.5.3 South & Central America Industrial Automation Market Breakdown by Component
10.5.3.1 South & Central America Industrial Automation Market and Forecasts and Analysis - By Component
10.5.4 South & Central America Industrial Automation Market Breakdown by System
10.5.4.1 South & Central America Industrial Automation Market Revenue and Forecasts and Analysis - By System
10.5.5 South & Central America Industrial Automation Market Breakdown by End User
10.5.5.1 South & Central America Industrial Automation Market Revenue and Forecasts and Analysis - By End User
10.5.6 South & Central America Industrial Automation Market Revenue and Forecasts and Analysis - By Countries
10.5.6.1 Brazil Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.1.1 Brazil Industrial Automation Market Breakdown by Component
10.5.6.1.2 Brazil Industrial Automation Market Breakdown by System
10.5.6.1.3 Brazil Industrial Automation Market Breakdown by End User
10.5.6.2 Argentina Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.2.1 Argentina Industrial Automation Market Breakdown by Component
10.5.6.2.2 Argentina Industrial Automation Market Breakdown by System
10.5.6.2.3 Argentina Industrial Automation Market Breakdown by End User
10.5.6.3 Rest of South & Central America Industrial Automation Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.3.1 Rest of South & Central America Industrial Automation Market Breakdown by Component
10.5.6.3.2 Rest of South & Central America Industrial Automation Market Breakdown by System
10.5.6.3.3 Rest of South & Central America Industrial Automation Market Breakdown by End User
11. Industrial Automation Market – Impact of COVID-19 Pandemic
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
14. Company Profiles
14.1 ABB Ltd
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Bosch Rexroth AG
14.2.1.1.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Emerson Electric Co
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Hitachi Ltd
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Honeywell International Inc
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Mitsubishi Electric Corp
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 OMRON Corp
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Rockwell Automation Inc
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Schneider Electric SE
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Siemens AG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 Word Index
List of Tables
Table 1. Industrial Automation Market Segmentation
Table 2. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion)
Table 3. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – Component
Table 4. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – Hardware
Table 5. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – System
Table 6. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – End User
Table 7. North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 8. North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 9. North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 10. North America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 11. North America Industrial Automation Market, by Country – Revenue and Forecast to 2030 (USD Billion)
Table 12. US Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 13. US Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 14. US Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 15. US Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 16. Canada Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 17. Canada Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 18. Canada Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 19. Canada Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 20. Mexico Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 21. Mexico Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 22. Mexico Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 23. Mexico Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 24. Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 25. Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 26. Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 27. Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 28. Europe Industrial Automation Market, by Country – Revenue and Forecast to 2030 (USD Billion)
Table 29. France Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 30. France Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 31. France Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 32. France Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 33. Germany Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 34. Germany Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 35. Germany Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 36. Germany Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 37. UK Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 38. UK Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 39. UK Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 40. UK Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 41. Italy Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 42. Italy Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 43. Italy Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 44. Italy Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 45. Russia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 46. Russia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 47. Russia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 48. Russia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 49. Rest of Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 50. Rest of Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 51. Rest of Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 52. Rest of Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 53. Asia Pacific Industrial Automation Market Revenue And Forecasts To 2030 (US$ Billion) – Component
Table 54. Asia Pacific Industrial Automation Market Revenue And Forecasts To 2030 (US$ Billion) – Hardware
Table 55. Asia Pacific Industrial Automation Market Revenue And Forecasts To 2030 (US$ Billion) – System
Table 56. Asia Pacific Industrial Automation Market Revenue And Forecasts To 2030 (US$ Billion) – End User
Table 57. Asia Pacific Industrial Automation Market, by Country – Revenue and Forecast to 2030 (USD Billion)
Table 58. Australia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 59. Australia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 60. Australia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 61. Australia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 62. China Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 63. China Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 64. China Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 65. China Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 66. India Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 67. India Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 68. India Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 69. India Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 70. Japan Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 71. Japan Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 72. Japan Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 73. Japan Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 74. South Korea Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 75. South Korea Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 76. South Korea Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 77. South Korea Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 78. Rest of Asia Pacific Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 79. Rest of Asia Pacific Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 80. Rest of Asia Pacific Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 81. Rest of Asia Pacific Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 82. Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By Component
Table 83. Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By Hardware
Table 84. Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By System
Table 85. Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By End User
Table 86. Middle East and Africa Industrial Automation Market, by Country – Revenue and Forecast to 2030 (USD Billion)
Table 87. South Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 88. South Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 89. South Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 90. South Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 91. Saudi Arabia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 92. Saudi Arabia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 93. Saudi Arabia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 94. Saudi Arabia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 95. UAE Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 96. UAE Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 97. UAE Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 98. UAE Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 99. Rest of Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 100. Rest of Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 101. Rest of Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 102. Rest of Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 103. South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By Component
Table 104. South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By Hardware
Table 105. South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By System
Table 106. South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion) – By End User
Table 107. South and Central America Industrial Automation Market, by Country – Revenue and Forecast to 2030 (USD Billion)
Table 108. Brazil Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 109. Brazil Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 110. Brazil Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 111. Brazil Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 112. Argentina Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 113. Argentina Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 114. Argentina Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 115. Argentina Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 116. Rest of South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 117. Rest of South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 118. Rest of South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 119. Rest of South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 120. Company Positioning & Concentration
Table 121. List of Abbreviation
List of Figures
Figure 1. Industrial Automation Market Segmentation, By Geography
Figure 2. Global– PEST Analysis
Figure 3. Ecosystem: Industrial Automation Market
Figure 4. Industrial Automation Market - Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. 6.2 Industrial Automation Market Breakdown by Geography, 2022 and 2030 (%)
Figure 7. Industrial Automation Market Revenue (US$ Billion), 2022 & 2030
Figure 8. Industrial Automation Market Share (%) – Component, 2022 and 2030
Figure 9. Hardware Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 10. Software Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 11. Industrial Automation Market Share (%) – System, 2022 and 2030
Figure 12. Supervisory Control and Data Acquisition Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 13. Distributed Control System Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 14. Programmable Logic Control Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 15. Others Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 16. Industrial Automation Market Share (%) – End User, 2022 and 2030
Figure 17. Automotive Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 18. Oil and Gas Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 19. Food and Beverage Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 20. Chemicals and Materials Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 21. Aerospace and Defense Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 22. Others Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 23. Industrial Automation Market Revenue Share, By Region (2022 & 2030)
Figure 24. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Industrial Automation Market Breakdown by Component (2022 and 2030)
Figure 26. Industrial Automation Market Breakdown by System, 2022 and 2030 (%)
Figure 27. Industrial Automation Market Breakdown by End User, 2022 and 2030 (%)
Figure 28. Industrial Automation Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 29. US Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. Canada Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Mexico Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 32. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 33. Industrial Automation Market Breakdown by Component (2022 and 2030)
Figure 34. Industrial Automation Market Breakdown by System (2022 and 2030)
Figure 35. Industrial Automation Market Breakdown by End User (2022 and 2030)
Figure 36. Industrial Automation Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 37. France Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 38. Germany Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 39. UK Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. Italy Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 41. Russia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 42. Rest of Europe Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 43. Asia Pacific Industrial Automation Market Revenue And Forecasts To 2030 (US$ Billion)
Figure 44. Asia Pacific Industrial Automation Market Breakdown by Component (2022 and 2023)
Figure 45. Asia Pacific Industrial Automation Market Breakdown by System (2022 and 2023)
Figure 46. Asia Pacific Industrial Automation Market Breakdown by End User (2022 and 2023)
Figure 47. Asia Pacific Industrial Automation Market Breakdown By Key Countries, 2022 And 2030 (%)
Figure 48. Australia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 49. China Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 50. India Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 51. Japan Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 52. South Korea Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 53. Rest of Asia Pacific Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 54. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 55. Middle East & Africa Industrial Automation Market Breakdown by Component (2022 and 2023)
Figure 56. Middle East & Africa Industrial Automation Market Breakdown by System (2022 and 2023)
Figure 57. Middle East & Africa Industrial Automation Market Breakdown by End User (2022 and 2023)
Figure 58. Industrial Automation Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 59. South Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 60. Saudi Arabia Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 61. UAE Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 62. Rest of Middle East & Africa Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 63. Industrial Automation Market Revenue and Forecasts To 2030 (US$ Billion)
Figure 64. South & Central America Industrial Automation Market Breakdown by Component (2022 and 2023)
Figure 65. South & Central America Industrial Automation Market Breakdown by System (2022 and 2023)
Figure 66. South & Central America Industrial Automation Market Breakdown by End User (2022 and 2023)
Figure 67. Industrial Automation Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 68. Brazil Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 69. Argentina Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 70. Rest of South & Central America Industrial Automation Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 71. Heat Map Analysis By Key Players
The List of Companies - Industrial Automation Market
- ABB Ltd
- Bosch Rexroth AG
- Emerson Electric Co
- Hitachi Ltd
- Honeywell International Inc
- Mitsubishi Electric Corp
- OMRON Corp
- Rockwell Automation Inc
- Schneider Electric SE
- Siemens AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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.
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