The industrial automation market is anticipated to capture a valuation of USD 40.6 billion in 2023 and is rising to USD 81.4 billion by 2033. The market is estimated at a CAGR of 7.2% during the forecast period. The following factors influencing the market growth are:
Industrial Automation Market - Driving Factors
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The latest manufacturing plants acquire cutting-edge automation technologies for their installation. Huge software, technologies, equipment, and training investments are difficult for new marketers. Therefore, these factors may limit the market expansion during the forecast period.
The high equipment cost and advanced systems lack market growth. Several companies and organizations can't put back their existing system is another factor that declines the market growth. Growing modernization and inappropriateness to handle advanced technologies may limit the market size.
Manufacturers are developing advanced safety measures for industrial automation to prevent workplace accidents, uplifting market opportunities. The increasing demand for safety automation products lowers the risk of any uncertainty propelling the market size.
Electrotechnical Commission and the ISO (International Standard Organization) are the leading international authorities that assure machinery's safety, standard quality, and technical services. These technology standards and protocols integrated with the automation system increase market opportunities. The vendors advancing industrial devices and equipment to expand production efficiency are bolstering the market size.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 7.2% |
| Market Valuation (2023) | USD 40.6 billion |
| Market Valuation (2033) | USD 81.4 billion |
Principal Consultant
According to Future Market Insights, the global industrial automation market is predicted at a healthy 7.2% CAGR during the forecast period. Historically, the market registered a CAGR of 12.0% between 2017 and 2022.
The growing adoption of industrial automation in various end-use sectors such as pharmaceuticals, chemicals, oil & gas, and others is expanding the market growth. The key companies are managing to innovate the machinery by adding several technical features such as robotics, sensors, and other driving market opportunities.
This advanced inbuilt system reduced labor force, and errors and operated work faster, consequently growing better opportunities in the market during the forecast period. Rising awareness and technological improvements are fueling the demand for industrial automation. The growing smart, secure, safe, and consistent operative manufacturing increases the adoption of industrial automation.
| Segment | Deployment |
|---|---|
| Top Category | Industrial Sensors |
| Historic CAGR | 11.8% |
| Forecast CAGR | 7.0% |
| Segment | Component |
|---|---|
| Top Category | Plant Asset Management |
| Historic CAGR | 11.4% |
| Forecast CAGR | 6.8% |
Based on deployment, industrial sensors are leading the global market by securing a CAGR of 7.0% during the forecast period. The rising adoption of the Internet of Things, 4.0 technology, and wireless technology are the factors increasing the demand for industrial sensors.
The manufacturing industries are further boosting the demand for industrial sensors to deploy with machines to provide certain alert and sound systems. These sensors collect information on a real-time basis and are estimated to surge the market growth. The industrial sensors captured a CAGR of 11.8% in the historic period between 2017 and 2022.
Plant assets management dominates the global market by occupying a CAGR of 6.8% during the forecast period. The adoption of built-in industrial automation to assess correctly drives the demand for plant asset management. Industrial manufacturers enhance plant asset management by tracking errors and avoiding breakdowns.
Manufacturers are collecting data in real time and managing the quality, which in turn increases the demand for industrial automation. Adoption of plant assets management identifies the problem before production and provides certain actions driving the market growth. Industrial automation assets secured a CAGR of 11.4% in the historic period between 2017 and 2020.
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Based on the end-use industry, the mining & metals industry is leading the global market by capturing a significant CAGR during the forecast period. The significantly growing mining and metal industry increased the adoption of industrial automation to solve related problems and manage the work.
The growing demand for metal processing equipment to provide accurate and effective results, reduce expenses and increase reliability are driving the market opportunities.
Top Countries Data Table Mentioned Below:
| Country | United States |
|---|---|
| CAGR (2017 to 2022) | 11.7% |
| CAGR (2023 to 2033) | 7% |
| Valuation (2023 to 2033) | USD 28.8 billion |
| Country | United Kingdom |
|---|---|
| CAGR (2017 to 2022) | 10.7% |
| CAGR (2023 to 2033) | 6.3% |
| Valuation (2023 to 2033) | USD 3.4 billion |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 11.3% |
| CAGR (2023 to 2033) | 6.6% |
| Valuation (2023 to 2033) | USD 5.8 billion |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 10.1% |
| CAGR (2023 to 2033) | 5.7% |
| Valuation (2023 to 2033) | USD 4.8 billion |
| Country | South Korea |
|---|---|
| CAGR (2017 to 2022) | 8.8% |
| CAGR (2023 to 2033) | 5.0% |
| Valuation (2023 to 2033) | USD 2.8 billion |
The United States dominates the global market by registering a CAGR of 7% with a valuation of USD 28.8 billion during the foreseen time. The United States market is continuously growing with the technology-driven economy. The innovation of the Internet of Things with software programs and a rising number of end-use industries are propelling the United States industrial automation market.
Adopting advanced industrial automation technology in the food & beverages sector, such as automated material handling, is driving the market. Several key marketers are implementing various strategies to fuel market growth in the coming period.
The oil & gas sector accounts for the maximum revenue in the market by increasing the adoption of industrial automation in the United States. In September 2022, ABB Ltd expanded the industrial automation sector by manufacturing the latest EV charger stations all around the United States.
These sufficiently fulfill the requirement for electric vehicles across the United States. The United States secured a CAGR of 11.7% in the historic period between 2017 and 2022.
The United Kingdom is capturing a significant CAGR of 6.3% with a valuation of USD 3.4 billion during the forecast period. The increasing demand for automatic and advanced machinery to reduce labor workload drives the United Kingdom's industrial automation market. Growing investment in the advanced and latest Artificial Intelligence industrial automation are fueling the market opportunities in the United Kingdom.
The rising demand for robotic and automation products for manufacturing companies is expected to drive market growth. With growing digital transformation, rapid urbanization, and increasing production, the adoption of industrial automation is booming in the United Kingdom market. The United Kingdom captured a CAGR of 10.7% between 2017 and 2022 in the historical period
China is one of the significant growing countries in the Asia Pacific region. China is securing a CAGR of 6.6% with a valuation of USD 5.8 billion during the forecast period. The rising key companies, emerging economies, and present market players are fueling China industrial automation market. The increasing demand for advanced industrial plants and smart manufacturing production is also playing a key role.
Implementing advanced technology and growing end-use industries such as pharmaceuticals, food & beverages, and automotive are expected to flourish the market in China. China captured a CAGR of 11.3% between 2017 and 2022 in the historical period.
The present key players are introducing new advanced products and services in the market all around the globe. These players reduce the work of labor by improving mass production through innovative technologies.
Several automation service vendors invest millions of dollars in research and development activities to develop better marketing skills. The essential players focus on expanding the market by adopting various marketing tactics, including mergers, acquisitions, partnerships, and product launches.
Key Players working in the Industrial Automation Market:
Recent Developments:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | Unite States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, South Africa, and Türkiye |
| Key Segments Covered | Deployment, Component, End-use Industry, Region |
| Key Companies Profiled | Schneider Electric (France); Emerson Electric Co. (USA); ABB (Switzerland); General Electric (USA); Honeywell International (USA); Mitsubishi Electric (Japan); FANUC (Japan); Rockwell Automation (USA); Siemens (Germany); Yokogawa Electric (Japan) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The industrial automation market is valued at USD 40.6 billion in 2023.
The industrial automation market’s CAGR from 2023 to 2033 will be 7.2%.
The top 3 countries’ value in the industrial automation market is USD 37.2 billion.
China’s industrial automation market is estimated to surge at a CAGR of 6.6% through 2033.
Industrial Sensors are likely to remain preferred in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Deployment 5.1. Industrial Robots 5.2. Machine Vision System 5.3. Process Analyzer 5.4. Field Instruments 5.5. Human Machine Interface 5.6. Industrial PC 5.7. Industrial Sensors 5.8. Industrial 3D Printing 5.9. Vibration Monitoring 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Component 6.1. Supervisory Control And Data Acquisition 6.2. Programmable Logic Controller 6.3. Distributed Control System 6.4. Manufacturing Execution System 6.5. Industrial Safety 6.6. Plant Asset Management 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End-use Industry 7.1. Oil & Gas 7.2. Chemicals 7.3. Pharmaceuticals & Medical Devices 7.4. Food & Beverages 7.5. Energy & Power 7.6. Automotive 7.7. Machine Manufacturing 7.8. Water & Wastewater Treatment 7.9. Electronics & Semiconductors 7.10. Metals & Mining 7.11. Others 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. ABB 16.2. Emerson Electric Co. 16.3. FANUC 16.4. General Electric 16.5. Honeywell International 16.6. Mitsubishi Electric 16.7. Rockwell Automation 16.8. Schneider Electric 16.9. Siemens 16.10. Yokogawa Electric 17. Assumptions & Acronyms Used 18. Research Methodology
Industrial Automation
October 2022
REP-GB-4623
303 pages
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Industrial Automation Market
