Global Industrial Automation Market Set for Robust Growth, Anticipated to Reach $256.73 Billion by 2027

Industrial Automation Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Industrial Automation Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

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The global industrial automation market is on a trajectory of substantial growth, escalating from $177.26 billion in 2022 to $190.92 billion in 2023, with an impressive compound annual growth rate (CAGR) of 7.7%. Despite challenges posed by the Russia-Ukraine war, causing disruptions in global economic recovery from the COVID-19 pandemic, the market is expected to expand further, reaching $256.73 billion by 2027, maintaining a steady CAGR of 7.7%.

Shaping the Future: Significance of Robotics Drives Market Growth

The industrial automation market is witnessing a significant boost due to the increasing importance of robotics. Robotics, involving the design, manufacture, and operation of intelligent machines, is increasingly integrated into industrial automation processes. This integration aims to enhance efficiency, replace manual labor, and improve overall performance in various industrial processes. According to the International Federation of Robotics, a 12% increase in global shipments of robotics units is expected between 2020 and 2022, underscoring the growing importance of robotics in propelling the industrial automation market.

Industry Leaders: Key Players Driving Innovation

Major players shaping the industrial automation market landscape include Emerson Electric Co, General Electric Company, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, ABB Ltd., Dassault Systemes SE, Honeywell International Incorporation, Omron Corporation, Endress+Hauser AG, Yokogawa Electric Corporation, Danaher Corporation, Fuji Electric Co. Ltd., and Hitachi Ltd.

Technology Trends: Advancements Fueling Market Dynamics

Technological advancements, especially the incorporation of Artificial Intelligence (AI) in robots, are gaining prominence in the industrial automation market. AI empowers robots to learn processes autonomously, facilitating communication with other robots and humans in some cases. Key players in the market are actively incorporating AI technology in industrial robots to maintain a competitive edge. For instance, Mitsubishi Electric Corp. announced in March 2022 that it will introduce new industrial robotic systems incorporating Maisart AI technologies, including high-precision speech recognition, allowing operators to fine-tune robot movements as needed.

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Strategic Acquisitions: Driving Market Expansion

In October 2020, Emerson Electric Co., a US-based manufacturing company, made a strategic move by acquiring the Progea Group for an undisclosed amount. This acquisition enhances Emerson’s capability to provide customers with visualization and IoT, supporting their digital transformation journey and improving overall equipment efficiency. Additionally, it expands Emerson’s footprint in industrial automation control. Progea Group, an Italy-based company, specializes in automation software.

Regional Dynamics: Asia-Pacific Takes the Lead
In 2022, Asia-Pacific emerged as the largest region in the industrial automation market. The comprehensive report provides detailed insights into regional dynamics, industrial automation market trends, and growth opportunities.

Market Segmentation:

1. By Component:
• Industrial Robots
• Human Machine Interface (HMI)
• Industrial Sensors
• Control Valves
• Other Components

2. By Control System:
• Supervisory Control And Data Acquisition (SCADA)
• Distributed Control System (DCS)
• Programmable Logic Controller (PLC)
• Manufacturing Execution System (MES)
• Component Lifecycle Management (PLM)
• Enterprise Resource Planning (ERP)
• Human Machine Interface (HMI)

3. By Industry:
• Aerospace And Defense
• Automotive
• Healthcare
• Energy And Utilities
• Manufacturing
• Oil And Gas
• Mining
• Transportation
• Other Industries

Access the complete report for an in-depth analysis of the global industrial automation market:
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Industrial Automation Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Industrial Automation Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on industrial automation market size, industrial automation market drivers and trends, industrial automation market major players, industrial automation market competitors’ revenues, market positioning, and market growth across geographies. The industrial automation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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