Drivers and Trends Benefits Industrial Automation Market to Grow at 10.8% CAGR, projected to Reach USD 162 billion in 20

Market Insights

As per recent research by MarkNtel Advisors, The Global Industrial Automation Market size is valued at around USD 162 billion in 2023 and is projected to grow at a CAGR of around 10.8% during the forecast period, i.e., 2024-30.

Global Industrial Automation Market Driver:

Increasing Implementation of Industrial IoT to Boost Market Value – The significance of IoT in industrial automation is boosting the market size worldwide as it facilitates the development and optimization of efficient, economical, and adaptable system frameworks. The integration of Industrial IoT (IIoT) solutions enables connectivity between industrial resources for swift transparency and heightened efficiency. IIoT in conjunction with edge computing simplifies device management throughout its lifecycle across manufacturing processes.

Several companies are implementing their own industrial IoT technology to enhance their efficiency, productivity, and overall performance. One such instance is Siemens, which developed its own industrial IoT offerings, such as MindSphere, Mendix, and IndustrialEdge that rely on automation technologies for insights derived from industrial data. Hence, organizations implement these technologies to streamline their operations while enhancing customer satisfaction. Consequently, there is a projected market growth trajectory due to the widespread adoption and implementation of IIoT within various industries.

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Market Segmentation and Consumer Behavior:

By Component

Field Devices
- Industrial Robots- Market Size Forecast 2019-2030, (USD Million)
- Human Machine Interface (HMI)- Market Size Forecast 2019-2030, (USD Million)
- Control Valves- Market Size Forecast 2019-2030, (USD Million)
- Sensors- Market Size Forecast 2019-2030, (USD Million)
- Industrial 3D Printing- Market Size Forecast 2019-2030, (USD Million)
- Others (Machine Vision, Fields Instruments, etc.)- Market Size Forecast 2019-2030, (USD Million)
Industrial Control Systems
- Supervisory Control and Data Acquisition (SCADA)- Market Size Forecast 2019-2030, (USD Million)
- Programmable Logic Controller (PLC)- Market Size Forecast 2019-2030, (USD Million)
- Distributed Control System (DCS)- Market Size Forecast 2019-2030, (USD Million)
- Manufacturing Execution System (MES)- Market Size Forecast 2019-2030, (USD Million)
- Product Lifecycle Management (PLM)- Market Size Forecast 2019-2030, (USD Million)
- Others (Industrial Safety, Plant Asset Management (PAM), etc.)- Market Size Forecast 2019-2030, (USD Million)

By Level of Automation

Semi-automatic- Market Size Forecast 2019-2030, (USD Million)
Fully Automatic- Market Size Forecast 2019-2030, (USD Million)

By End User

Automotive- Market Size Forecast 2019-2030, (USD Million)
Mining- Market Size Forecast 2019-2030, (USD Million)
Water Wastewater Management- Market Size Forecast 2019-2030, (USD Million)
Electronic Semiconductors- Market Size Forecast 2019-2030, (USD Million)
Energy- Market Size Forecast 2019-2030, (USD Million) Power
Food Beverages- Market Size Forecast 2019-2030, (USD Million)
Oil Gas- Market Size Forecast 2019-2030, (USD Million)
Others (Pharmaceuticals, Chemicals, etc.) - Market Size Forecast 2019-2030, (USD Million)

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Industrial Automation Market Geographical Analysis:

By Region:

North America
South America
Europe
Middle East Africa
Asia-Pacific

Key Players and Competitive Strategies in the Industrial Automation Market

Several prominent players dominate the Industrial Automation Market, including:

ABB Ltd.
Dwyer Instruments
Emerson Electric Co.
Honeywell International, Inc.
Kawasaki Heavy Industries, Ltd.
Mitsubishi Electric Corporation
OMRON Corporation
Rockwell Automation, Inc.
Schneider Electric
Siemens AG
Yokogawa Electric Corporation
General Electric (GE) Company
STMicroelectronics International N.V.
Robert Bosch Gmbh (Bosch Group)
WAGO Global

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Questions Addressed in this Study

1.What factors are driving the Industrial Automation Market growth?

2.How is the Industrial Automation Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Industrial Automation Market?

4.What is the current size of the Industrial Automation Market, and how is it projected to change in the future?

6.What is the future outlook for the Industrial Automation Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.