"We Envision Growth Strategies Most Suited
to Your Business"

Industrial Automation Market to Exhibit 9.2% CAGR in 2021-2028; Growing Demand from Businesses to Streamline their Manufacturing Operations to Augment Market Growth

October 25, 2021 | Information & Technology

The global industrial automation market size is expected to gain momentum by reaching USD 355.44 billion by 2028, because automation software and Manufacturing Operations Management (MOM) software, allows businesses to streamline the manufacturing process to increase their efficiency in cost effective manner. This information is provided by Fortune Business Insights, in its report, titled, “Industrial Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware (Sensors; PLC; HMI; Servo; Motor; Drive; Laser Markers; Safety Light Curtain; Robots), and Software), By Industry (Discrete Industry (Automotive; Electronics; Heavy Manufacturing; Packaging), and Process Industry (Oil & Gas; Chemicals; Pulp & Paper; Mining and Metals; Health Care), and Regional Forecast, 2021-2028”, mentions that the market stood at USD 179.74 billion in 2020 and USD 191.74 billion in 2021. It is projected to exhibit a CAGR of 9.2 % during the forecast period. 


ABB Partnered with dtac Trinet


In June 2021, ABB Ltd. announced its partnership with dtac Trinet, which is based in Thailand. The partnership is expected to bring new opportunities to the company and increase its productivity by leveraging digital technology. The company also aims develop robotics and machine automation solutions with dtac connectivity across Thailand to advance Thailand’s manufacturing capabilities and boost the industry 4.0 in the country.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/industrial-automation-market-101589


Increasing Implementation of Digital Twins and AR Technology in Manufacturing to Favor Market Growth


With the increasing advent of digital technology such as cloud systems and smart sensors, and incorporation of digital twin by organizations into their business operations to reduce the risk of equipment failure and automatically scheduling the repairs by creating a simulation of the process is expected to drive the industrial automation market growth in upcoming years. For instance, in July 2019, DHL International GmbH, started using digital twin for Tetra Pak’s warehouse. This technology helped the company in delivering scalable, cost-effective, and agile supply chain operations. Therefore. Such advantages of digital twin technology is attributed to the increase the market’s demand in upcoming years.  


Key Players Focus on Partnerships to Brighten Their Market Prospects


The market is experiencing healthy competition among key players focusing on developing and launching new products, forming partnerships to widen their product portfolio and further boost sales revenues. For instance, in July 2021 Rockwell Automation Inc. made collaboration with cloud-based product digitalization and traceability platform, Kezzler AS to enable manufactures to capture their product's end-to-end journey from raw material sources to the point of sale or beyond by using cloud-based chain solutions. Such strategies will contribute to the growth of the market during the forecast period.


Industry Development



  • June 2021- Rockwell Automation Inc. acquired Plex Systems, a Smart manufacturing solution provider, for USD 2.22 billion. The acquisition aims to expand industrial cloud offerings with Plex Systems’ cloud-native smart manufacturing platform.


List of Key Players Profiled in the Report



  • ABB Ltd. (Zürich, Switzerland)

  • Emerson Electric Co. (Missouri, U.S.)

  • General Electric Company (Massachusetts, U.S.)

  • Honeywell International Inc. (North Carolina, U.S.)

  • Mitsubishi Electric Corporation (Tokyo, Japan)

  • Omron Corporation (Kyoto, Japan)

  • Rockwell Automation Inc. (Wisconsin, U.S.)

  • Schneider Electric SE (Rueil-Malmaison, France)

  • Siemens AG (Munich, Germany)

  • Yokogawa Electric Corporation (Tokyo, Japan)


Further Report Findings



  • Europe is expected to hold the largest industrial automation market share during the forecast period. This is because of the increasing demand for automated services in the region. For instance, Germany is the fourth among the top automated countries in the world with 346 robotic units per 10,000 employees. The region stood at USD 57.85 billion in 2020.

  • Asia Pacific is expected to rise significantly during the forecast period, because Japan is also one of the top manufacturers of robots and industrial automation machines.

  • By component, the market is segmented into hardware, and software. Hardware is further segmented into different verticals and out of many, the sensors segment held the market share of 19.6% in 2020 due to increasing demand.


Table of Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



 2017-2019



Unit



Value (USD billion)



Segmentation



Component; Industry; and Geography



By Component




  • Hardware

    • Photoelectric

    • Laser

    • Inductive

    • Others



    • Motor


      • AC

      • DC


    • Drive




    • Sensors

    • PLC

    • HMI

    • Servo

    • Laser Markers

    • Safety Light Curtain

    • Robots


  • Software



By Industry




  • Discrete Automation

    • Automotive

    • Electronics

    • Heavy Manufacturing

    • Packaging

    • Others



  • Process Automation

    • Oil & Gas

    • Chemicals

    • Pulp & Paper

    • Mining and Metals

    • Health Care

    • Others





By Geography




  • North America (By Component, By Industry, By Country)

    • U.S. (By Hardware)

    • Canada (By Hardware)





  • Europe (By Component, By Industry, By Country)

    • U.K. (By Hardware)

    • Ireland (By Hardware)

    • Germany (By Hardware)

    • France (By Hardware)

    • Italy (By Hardware)

    • Spain (By Hardware)

    • Rest of Europe (By Hardware)





  • Asia Pacific (By Component, By Industry, By Country)





    • China (By Hardware)

    • Japan (By Hardware)

    • India (By Hardware)

    • Rest of Asia Pacific (By Hardware)



  • Middle East & Africa (By Component, By Industry, By Country)

    • GCC (By Hardware)

    • South Africa (By Hardware)

    • Rest of the Middle East & Africa (By Hardware)





  • Latin America (By Component, By Industry, By Country)

    • Brazil (By Hardware)

    • Mexico (By Hardware)

    • Rest of Latin America (By Hardware)




Industrial Automation Market
  • PDF
  • 2020
  • 2017-2019
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Amgen
Samsung
Styker
Schlumberger
KIA
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X