Industrial Automation Market Size, Global Trends, Top Leaders, Historical Analysis, Business Growth, Segmentation, Competitive Landscape and Opportunity Assessment by 2023
Market Overview
Industrial automation is the shift of dependence from humans to machines for completing processes without errors. The high customer demand and advances in internet of things (IoT) are likely to pave the way for its propagation among end-use industries. The global industrial automation market report focuses on opportunities and trends for the period of 2018 to 2023 (forecast period). The outbreak of the COVID-19 virus and its impact on the industry are covered in the report.
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Market Scope
The global industrial automation market raked in USD 128.63 billion in 2017. It is projected to exhibit a CAGR of 9.35% during the forecast period to reach a value of USD 216.5 billion by 2023.
Key Players
The prominent players in the Industrial Automation Market are – Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan)
Global Industrial Automation Market – Segmentation
The global industrial automation market has been segmented by type, technology, and end user.
- By Type, the market has been segmented into fixed automation and programmable automation. The fixed automation segment was the largest segment in 2017 and generated a revenue of USD 94.35 billion, while the programmable automation segment is expected to emerge as the fastest growing segment over the forecast period.
- By Technology, the market for industrial automation has been segmented into Programmable Automation Controller (PAC), Human Machine Interface (HMI), supervisory control & data acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), and others. The PLC segment dominated the market in 2017. However, the DCS segment is expected to be the fastest growing segment over the forecast period.
- By End User, the market for industrial automation has been segmented into pharmaceuticals, machine manufacturing, mining & metals, oil & gas, food & beverage, aerospace & defense, electrical & electronics, automotive & transportation, and others. The automotive & transportation segment was the largest segment in 2017 and accounted for USD 23.78 billion in 2017, while the food & beverage segment is expected to grow at the fastest rate of 12.34% over the forecast period.
Industrial Automation Market – Regional Analysis
The global industrial automation market spans across the regions of North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW).
Europe is the largest market and accounted for USD 49.21 Billion in 2017. The growth of the industrial automation market is driven by strong private investment. Being the automotive hub of the world, Europe holds ample scope for market expansion. Being the frontrunner in the adoption of industrial automation coupled with supportive financing conditions have created a healthy climate for corporate investments. Furthermore, government initiatives to improve production have made the Europe market for industrial automation prime for investment. The growth of end-user industries such as oil & gas, food & beverage, and aerospace & defense also provide an impetus to the growth of the Europe industrial automation market. The UK, Germany, France, and Italy are the key contributors to the Europe Market for industrial automation.
North America is the second largest market for industrial automation and attained a value of USD 37.92 billion in 2017. The region is an early adopter of latest technologies such as industrial robots and artificial intelligence in the region favors the growth of the market. Other driving factors include the presence of key market players in the region and the growth of end-user industries.
APAC is expected to experience an upswing in demand for industrial automation owing to having a considerable laborforce and surplus of subsidies and incentives. China is the biggest market for industrial robots and experiences high demand for automation from the Chinese automotive and transportation sector. Moreover, the preparation of governments extending support towards the adoption of industry 4.0 can influence the market greatly. Furthermore, the growth of the semiconductor industry and procurement of consumer electronics has culminated in high demand for automation in manufacturing plants. India, China, Taiwan, Japan, and Korea are key contributors to the Asia Pacific industrial automation market.
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Intended Audience
- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- MES (Manufacturing Execution System) and MOM (Manufacturing Operations Management) Players
- System Integrator
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