Industrial Automation Market Size, Upcoming Trends 2023, Industry Share, Demand Analysis by Top Leading Players with Strategies and Forecast 2031

The “Industrial Automation Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Industrial Automation Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.

The global industrial automation market size was US$ 191.4 billion in 2021. The global industrial automation market is expected to grow to US$ 439.5 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

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Factors Influencing the Market

The growing trend of connected enterprises will primarily fuel the growth of the industrial automation market during the study period. The market is expected to witness tremendous potential due to the rising need for the mass manufacturing of products. In addition to that, IoT-enabled systems can help users track the location of field instruments and enable the smooth flow of raw materials. Further, it also helps in keeping the entire record of the status of inventories and products going through the supply chain. Thus, the benefits of industrial automation are expected to drive the growth of the market during the analysis period.

Additionally, the growing focus on enhancing productivity, quality of products, etc., is expected to drive the industrial automation market forward.

The Industrial Internet of Things will also maintain a strong foothold as the demand for streamlining effective, affordable, and responsive systems architectures is growing. Moreover, industrial automation helps connect industrial assets and creates transparency quickly and easily, and increases productivity. Companies are also making efforts to boost the productivity. For example, Siemens and NVIDIA Omniverse teamed in June 2022 to enable the industrial metaverse and increase the use of AI-driven digital twin technology. Thus, the market is expected to leverage potential growth due to innovative efforts made by industry players.

COVID-19 Impact Analysis

The industrial automation sector has seen ongoing investments in its advancements and has significantly increased its contribution to economic growth. However, the industrial automation market’s value chain has been significantly disrupted by the COVID-19 epidemic. Additionally, this will lead to a decline in the shipments of industrial automation components and solutions, as well as the associated revenue. It is attributable to the decline in laborers and raw materials, which negatively affected the industrial automation market.

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Regional Analysis

Based on region, the industrial automation market is expected to expand the most in North America. The regional market is expected to maintain this position even in the coming years. Further, the presence of prominent industry giants in North America and the rising adoption of advanced solutions such as AI, IoT technologies, and robotic automation will benefit the industrial automation market during the study period.

The Asia-Pacific industrial automation market is expected to record potential growth owing to the rising adoption of robotics and other robust technologies.

Competitors in the Market
Emerson Electric Co
Rockwell Automation Inc.
Yocogawa Electric Corporation
Omron Corporation
Endress+Hauser group services AG
Fanuc Corporation
WIKA USA
Dwyer Instruments, LLC
Stratasys
Mitsubishi Electric Corporation
Honeywell International Inc.
ABB Ltd
Schneider Electric SE
Siemens AG
General Electric
Adisra
Fizyr
Other Prominent Players

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Market Segmentation

The global industrial automation market segmentation focuses on Components, Hardware, Software, Industry Vertical, and Region.

By Component
Hardware
Software
Service

By Hardware
Industrial Sensors
Machine Vision Systems
Field Instruments
Industrial Robots
o Robot Type
? Traditional Industrial Robots
? Collaborative Robots
Human-machine Interface
Industrial PCs
Others

By Software Type
Manufacturing Execution System
Industrial Safety
Plant Asset Management
Supervisory Control And Data Acquisition
Programmable Logic Controller
Distributed Control System

By Industry Vertical
Oil and Gas
Manufacturing
Automotive
Healthcare
Food and beverages
Chemicals
Energy and Power
Metal and Mining
Others

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By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America

Key questions answered in the Industrial Automation market report are:

  • How does a global company acquire markets?
  • What are its core strategies and policies?
  • What factors will influence the Industrial Automation market over the forecast period?
  • What are the factors driving and restraining the market for Industrial Automation?
  • What are the leading competitors in the global market?
  • Which region is growing at a higher pace in the global market?

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