The global industrial automation market is estimated to reach US$341.41 billion in 2023, growing at a CAGR of 9.35% for the period spanning 2019-2023. The growth of the market has been driven by an upsurge in economic growth, expanding urbanization, rising automotive production, rising IoT devices, increasing use of industrial robots and rising consumer electronics production. Some of the noteworthy trends of the market include involvement of artificial intelligence, growing E-commerce warehouse maintenance and rising mining activities. However, growth of the market would be challenged by expensive installation and maintenance, resistance to accept and lack of trained manpower.
The global industrial automation market is categorized into two key segments: Programmable and Fixed automation. In 2018, fixed automation was the dominant segment because of the driving factors such as growing demand for industrial automation by consumer electronics industries and escalation in automotive production.
The fastest growing regional market is Asia Pacific due to increasing industrialization in several countries such as Japan, China and India, increasing recognition of the automation assistance, extensive use of smart technologies in manufacturing, increasing use of industrial robotics in manufacturing. EMEA represents one of the largest industrial automation market and is already well-penetrated at developed market levels. The Americas region is an emerging market where growth lies in large-scale domestic manufacturing and development of smart technologies such as industrial IoT and artificial intelligence.
Scope of the Report:
• The report provides a comprehensive analysis of the global industrial automation market, segmented into Programmable and Fixed automation segments.
• The major regional and country markets (EMEA, Asia Pacific and the Americas) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (ABB Group, Schneider Electric, Siemens AG, Rockwell Automation, KUKA AG, and Yokogawa) are also presented in detail.
Key Target Audience:
• Process Automation and Instrumentation Manufacturers
• Industrial Robot Manufacturers/Distributors
• Process Automation and Instrumentation Distributors/Wholesalers
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities.