Global Industrial Automation Market to Grow at a CAGR of 8.6% During 2024-2032, Aided by the Increasing Demand for Smarter Systems Across Industries

Industrial automation involves the use of control systems, including computers and robots, as well as information technologies, to manage large-scale processes previously handled by humans. This integration of the physical world with computer-based systems offers advantages such as increased efficiency, control, precision, and cost-effectiveness. The application of intelligent technology in industrial processes replaces manual tasks with automated workflows, leading to reduced manufacturing costs, increased productivity, improved quality, enhanced industrial safety, and streamlined process control, ultimately reducing lead times compared to outsourcing.

The Asia Pacific region played a significant role in the global industrial automation market, driven by key players establishing production plants in cost-effective locations, particularly in China and Japan. The region is expected to experience the fastest growth in the forecast period, fueled by the increasing demand for intelligent solutions in industrial plant management, especially in countries like India, China, and South Korea. Following closely, North America holds a substantial market share, poised for healthy growth, driven by the widespread adoption of factory automation systems and increased research and development in the Internet of Things (IoT).

In October 2023, Emerson (NYSE: EMR) successfully completed the acquisition of NI, a provider of software-connected automated test and measurement systems, at an equity value of $8.2 billion. This strategic move enhances Emerson's position in the global automation market, aligning with key trends like digital transformation and sustainability. NI's software and devices portfolio is expected to accelerate Emerson's revenue growth, particularly in high-growth industrial software markets.

In December 2023, Rockwell Automation (NYSE: ROK) enhanced machine design efficiency with firmware updates for Allen-Bradley Micro820 and Micro850 controllers. The revision 14 for Micro820 and revision 22 for Micro850 offer improved Ethernet communication, providing faster data refresh rates for enhanced connectivity and performance in human-machine interface (HMI) and supervisory control and data acquisition (SCADA) applications.

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Market Breakup by Devices, Control System, Application, and Region:

• The market is segmented based on devices into machine vision, robotics, sensors, motion and drives, relays and switches and others.

• Based on control system, the market is divided into supervisory control and data acquisition (SCADA), distributed control system (DCS), Programmable Logic Controller (PLC), manufacturing execution system (MES), Product Lifecycle Management (PLM), enterprise resource planning (ERP), human machine interface (HMI), and others.

• On the basis of application, the market can be categorised into discrete industry and process industry.

• Region-wise, the global market for industrial automation can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• As manufacturing industries undergo a rapid transformation, smart robots and automation-driven systems are replacing manual labour. Meeting the current production demands has made automation a necessity.

• The market for industrial automation is propelled by the demand for precise production and high-quality outputs without compromising on quantity. Additionally, favorable government policies in the manufacturing sector and the sector's growth in emerging economies contribute to the market advancement.

• The market growth of industrial automation is gaining momentum due to a growing demand for digital transformation in major industries like healthcare, transportation, and retail. The realisation of the potential of the Internet of Things (IoT) and interconnectivity is expected to drive growth during the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the global industrial automation market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the devices, control system, application, and major regions of industrial automation.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the industrial automation market are Siemens AG, Emerson Electric Co., ABB Ltd., Rockwell Automation, Inc., Mitsubishi Electric Corporation, Schneider Electric, and Texas Instruments Incorporated, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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