Industrial Automation Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Industrial automation involves the application of control systems, including computers or robots, and information technologies for large-scale handling of processes that humans previously handled. The process enables better direct integration of the physical world into computer-based systems. Industrial automation enables capacity utilization, risk mitigation, responsiveness, resiliency, and agility. It provides many advantages such as enhanced efficiency, control, precision, faster time to market, and higher cost-effectiveness. The global industrial automation market includes players engaged in developing and launching various industrial automation related systems, technologies, and products. This market is expected to grow at a compounded annual growth rate (CAGR) of 8.5% during the forecast period of 2022-2030.

 

Growth Drivers:

Globally, end-user sectors such as pharmaceutical, gas, chemicals & materials, and industries including automotive and electronics are seen to be increasingly adopting automation solutions to decrease their overall labor and operating costs. Conventional manufacturing mechanisms are proving to be vastly inadequate in meeting the current global requirements. As a result, manufacturing companies are investing hugely on industrial automation technologies to enhance their system efficiency and eliminate production errors caused by manual labor. This rapid shift from traditional manual assistance to automation processes and solutions is fueling the growth of the global industrial automation market.

Moreover, governments across major developed and developing regions around the globe are seen to be rolling out various favorable policies and initiatives for supporting and encouraging the adoption of different industrial automation technologies and systems for the digitalization of their respective manufacturing sectors. For instance, in September 2021, the U.K. government announced plans to invest $180.0 million into the 2nd round of its “Manufacturing Made Smarter” scheme, which aims at encouraging innovation and interconnectivity in the country’s manufacturing sector. The increasing number of such policies and initiatives is expected to significantly bolster the growth of the global industrial automation market during the forecast period.

Additionally, with the rapid emergence of the fourth industrial revolution, major tech-savvy companies across the globe are seen to emphasize significantly developing and launching new and advanced technologies for use in different end-user verticals. To achieve this, they are focusing on adopting various strategies such as partnership, collaborations, and mergers & acquisitions.

Furthermore,  the emergence of the 5G wireless technology across the globe, the growing implementation of digital twins and AI technology in the manufacturing sector, the surging application of the SCADA and HMI technologies, the proliferating demand for innovative industrial automation & networking technologies, the rising need for digital transformation across end-user industries, and the escalating investments in various advanced technologies are among other primary factors driving the growth of the global industrial automation market.

However, factors such as the limited availability of skilled labor, the requirement of high initial capital, the growing compatibility issues, the dearth of awareness regarding the advantages of automated processes are expected to act as major hindrances to the growth of the global industrial automation market during the forecast period of 2022-2030.

Industrial Automation Market Segmentation:

By Component:

·         Enterprise-level Controls

o   Product Lifecycle Management (PLM)

o   Enterprise Resource Planning (ERP)

o   Manufacturing Execution Systems (MES)

·         Plant Instrumentation

o   Motors & Drives

o   Robots

§  Articulated Robots

§  Cartesian Robots

§  Selective Compliance Assembly Robot Arms (SCARA)

§  Collaborative Robots

§  Other Robots

o   Sensors

o   Machine Vision Systems

§  Cameras

§  Optics and LED Lighting

o   Relays & Switches

o   Other Plant Instrumentation Components

·         Plant-level Controls

o   Supervisory Control and Data Acquisition (SCADA)

o   Distributed Control Systems (DCS)

o   Programmable Logic Controllers (PLC)

o   Other Plant-level Controls

 

By Mode of Automation:

·         Semi-automatic

·         Fully-automatic

 

By End User:

·         Oil & Gas

·         Chemicals & Materials

·         Paper & Pulp

·         Pharmaceuticals & Biotech

·         Mining & Metals

·         Food & Beverage

·         Power

·         Consumer Goods

·         Automotive

·         Machines & Tools

·         Semiconductors & Electronics

·         Aerospace & Defense

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Industrial Automation Market Component Review:

On the basis of component, the global industrial automation market is bifurcated into enterprise-level controls, plant instrumentation, and plant-level controls. The enterprise-level controls segment held the largest share in the market in 2021. The high number of benefits associated with the implementation of PLM, ERP, and MES solutions at the enterprise level is the major factor attributed to the large share of this segment.  

 

Industrial Automation Market Mode of Automation Review:

On the basis of mode of automation, the industrial automation market is categorized into semi-automatic and fully-automatic. The fully-automatic segment is predicted to attain the highest growth in the market during the forecast period of 2022-2030. The rapid installation of  fully-automatic solutions across various end-use industries to efficiently manage activities and increase productivity is primarily driving the growth of this segment.

 

Industrial Automation Market End-User Review:

On the basis of end-user, the global industrial automation market is segmented 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 automotive segment acquired the largest share of the market in 2021, followed by the oil & gas segment. The trend is expected to continue throughout the forecast period of 2022-2030. This segment's large share and growth can be attributed to the burgeoning global demand for autonomous vehicles and efficient production systems and the mounting pressure to reduce carbon footprint by enhancing the usage of fuel-efficient automobiles and electric vehicles.

 

Regional Outlook:

The industrial automation research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

 

The Asia Pacific region captured the largest share of the global industrial automation market in 2021, followed by North America and Europe. The region is predicted to remain dominant throughout the forecast period of 2022-2030 owing to factors such as the large production and adoption of industrial robots, sensors, and machine vision systems; the robust expansion of the end-user industries, the presence of large-scale industries, the increasing government initiatives and policies, and the surging demand for smarter systems to manage industrial plants. India, China, and Japan are the major contributors to the growth of the market in the region.

 

The North American region is projected to witness robust growth in the global industrial automation market during the forecast period due to the rapidly expanding manufacturing sector, the rising adoption of factory automation systems, the increasing IoT research and development, the presence of well-established market players, and the escalating technological advancements in the region. The U.S. stands as the leading contributor to the growth of the market in the region.

 

The Europe region is also expected to experience significant growth in the global industrial automation market during the forecast period due. The region’s high growth can be attributed to the fast-paced expansion of the automotive and power generation industries in the region and the high density of robots in the region.

 

The report also identifies the country market outlook for industrial automation, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

 

Key Companies in Industrial Automation Market:

The research report offers a competitive analysis of prominent companies operating in the global industrial automation market. Some of the leading players profiled in the market research report include:

·         Honeywell International

·         Mitsubishi Electric Corporation

·         OMRON Corporation

·         Advantech Co. Ltd.

·         ABB Group

·         Siemens AG

·         Yaskawa Electric Corporation

·         Schneider Electric

·         Yokogawa Electric Corporation

·         KUKA AG

·         Fanuc

·         Fuji Electric Co. Ltd.

·         Emerson Electric Co.

·         Rockwell Automation Inc.

·         Texas Instruments Incorporated

·         Other Players