Industrial Automation Market Set to Reach USD 363 Billion by 2030, Growing at a Robust CAGR of 10%

According to Next Move Strategy Consulting, the Industrial Automation Market, is poised for substantial growth, with projections indicating it will reach USD 363 billion by 2030. This represents a compound annual growth rate (CAGR) of 10% from 2024 to 2030. Industrial automation involves the use of advanced technologies, systems, and machinery to automate and control industrial processes, tasks, and operations. This integration of components like sensors, actuators, controllers, and software applications enables industries to monitor and manage operations with minimal human intervention. The primary aim of industrial automation is to boost efficiency, productivity, and safety in manufacturing, assembly, and other industrial operations by reducing manual labor, optimizing resource utilization, improving product quality, and enabling faster, more accurate decision-making.

Click Here for Your FREE Sample!

The industrial automation landscape encompasses a broad range of technologies, including robotics, programmable logic controllers (PLCs), human-machine interfaces (HMIs), machine vision systems, and advanced data analytics. These solutions are increasingly used across various industries to streamline processes, reduce errors, and enhance overall operational efficiency.

Market Dynamics and Trends

The industrial automation market is witnessing increasing demand across several sectors, including manufacturing, automotive, and logistics, which are looking for ways to optimize their operations and improve productivity. Automation technologies such as robotics, artificial intelligence (AI), and advanced control systems help industries streamline their processes, reduce errors, and enhance operational efficiency.

One of the key trends fueling the growth of the market is the rapid advancement of technologies like the Internet of Things (IoT), machine learning, and big data analytics. These innovations enable real-time data monitoring, predictive maintenance, and autonomous decision-making. As industries seek higher levels of automation and operational excellence, these technologies are playing a critical role in driving growth in the industrial automation market.

Furthermore, the food and beverage industry has seen a notable increase in demand for automation. Manufacturers are increasingly adopting industrial robots to improve production processes, efficiency, and product safety. In April 2023, Doosan Robotics introduced a new line of collaborative robots (cobots), designed specifically for the food and beverage industry. The E-series robots are lightweight and have a slim design, making them ideal for installation in various workspaces within the food industry.

Despite these advancements, the implementation of industrial automation systems requires significant upfront investments in equipment, software, and infrastructure. This initial cost can pose a challenge, particularly for small and medium-sized enterprises (SMEs) that may have limited financial resources. This challenge could somewhat constrain the overall growth of the market.

On the other hand, the integration of artificial intelligence (AI) and machine learning (ML) in industrial robots presents significant growth opportunities for the market. As industries continue to prioritize automation and smart manufacturing solutions, AI and ML are expected to play a crucial role in driving innovation, enhancing competitiveness, and fueling further growth in the industrial automation sector.

Market Segmentation and Scope of Study

The global industrial automation market is segmented based on components, types, end-user industries, and regions.

• By Component: The market is divided into hardware, software, and services.
• By Type: The industrial automation market is segmented into programmable logic controllers (PLC), supervisory control and data acquisition (SCADA), distributed control systems (DCS), human-machine interfaces (HMI), remote terminal units (RTU), industrial robots, machine vision, and others.
• By End-User Industry: The market is categorized into sectors such as automotive, chemicals and petrochemicals, pharmaceuticals, food and beverages, oil and gas, metals and mining, electronics and semiconductors, and others.

The geographical breakdown includes regions such as North America, Europe, Asia-Pacific, and the rest of the world.

Geographical Analysis

The Asia-Pacific region dominates the global industrial automation market and is expected to continue its dominance throughout the forecast period. The growth is largely driven by the booming automotive industry in countries like China and India, which are experiencing significant increases in automotive manufacturing and demand. As a result, these countries have a growing need for efficient and automated production processes.

In particular, China continues to be the world’s largest vehicle market in terms of both annual sales and manufacturing output. By 2025, domestic production is expected to reach 35 million vehicles, which is positively influencing the industrial automation market. The region’s growing semiconductor industry is another key factor accelerating the adoption of industrial automation technologies.

On the other hand, North America is experiencing substantial growth in the industrial automation market, especially due to the integration of automation solutions in sectors like water and wastewater treatment. As the demand for clean water increases and water resources become scarcer, the need for automation in water treatment processes is growing. Companies like Schneider Electric have partnered with Delco Automation to provide advanced solutions for water quality monitoring and process control.

Competitive Landscape

The competitive landscape of the industrial automation market is marked by the presence of numerous prominent players, including ABB Ltd., Emerson, Siemens, Schneider Electric, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Endress+Hauser, Honeywell International Inc., Rockwell Automation, and General Electric Co.

These companies are focusing on product innovations and strategic collaborations to maintain their dominance in the global market. For instance, in May 2023, Rockwell Automation partnered with Autonox Robotics to combine their expertise in automation technology and advanced robotic solutions. This partnership aims to develop innovative automation solutions that enhance productivity, efficiency, and safety in various industries.

In another development, Siemens and NVIDIA signed an agreement in June 2022 to adopt artificial intelligence and digital twin technology in industrial automation. This collaboration is set to bring industrial automation to the next level, creating new opportunities for industries to optimize their processes.

Additionally, in May 2022, Emerson launched the TopWorx DX-PST HART 7 valve data diagnostics solution. This solution leverages HART technology to provide real-time valve diagnostic data, thereby enhancing performance monitoring and maintenance in industrial automation applications.

Key Benefits

• The report offers quantitative analysis and estimations of the industrial automation market from 2024 to 2030, helping businesses identify prevailing market opportunities.
• The study includes an in-depth analysis of current and future trends, highlighting investment opportunities in the industrial automation sector.
• It also provides insights into key drivers, restraints, and opportunities, and how they will impact the growth of the industrial automation market.
• A competitive analysis of the major players, along with their market share, is presented.
• The report also includes SWOT analysis and Porter’s Five Forces model to evaluate the market dynamics.
• A value chain analysis provides a comprehensive understanding of the roles of various stakeholders in the market.

Key Market Segments

• By Component:
  • Hardware
  • Software
  • Services
• By Type:
  • Programmable Logic Controller (PLC)
  • Supervisory Control and Data Acquisition (SCADA)
  • Distributed Control System (DCS)
  • Human Machine Interface (HMI)
  • Remote Terminal Unit (RTU)
  • Industrial Robots
  • Machine Vision
  • Others
• By End-User Industry:
  • Automotive
  • Chemicals and Petrochemicals
  • Pharmaceuticals
  • Food and Beverages
  • Oil & Gas
  • Metals & Mining
  • Electronics & Semiconductor
  • Others
• By Region:
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

Conclusion

The industrial automation market is experiencing rapid growth driven by technological advancements, increasing demand for automation across various industries, and a strong focus on improving operational efficiency. With substantial investments being made in the sector, key players are leveraging AI, machine learning, and robotics to introduce innovative solutions. The market is expected to continue expanding, with major opportunities in both established and emerging markets, particularly in the Asia-Pacific region.

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations within dustry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses

Summary

This growth is driven by increasing demand for automation across industries like manufacturing, automotive, and logistics, along with technological advancements such as IoT, AI, and machine learning, which enable real-time monitoring and predictive maintenance. The food and beverage sector is also adopting automation solutions to improve production and safety.