How Has the Industrial Automation Market Size Evolved in Recent Years?
The industrial automation market has seen considerable growth due to a variety of factors.
• The size of the industrial automation market has seen considerable growth in the past years. Its projected growth from $193.87 billion in 2024 to $205.11 billion in 2025 corresponds to a compound annual growth rate (CAGR) of 5.8%.
The previously recorded growth can be linked to factors such as heightened robotics adoption, potent economic development in upcoming markets, governmental backing, and a rise in automotive production.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Industrial Automation Market?
The industrial automation market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of industrial automation is projected to experience robust growth in the coming years, expected to reach $290.14 billion by 2029, with a compound annual growth rate (CAGR) of 9.1%.
Factors contributing to this growth during the forecast period include rising adoption of IoT, increased healthcare spending, a surge in demand from the agriculture industry, and an upswing in passenger air traffic. Key trends to watch during this period encompass the use of artificial intelligence (AI) for enhancing efficiency and bulking up production, an emphasis on edge and cloud computing for immediate data processing, adoption of 5g technology, a focus on cybersecurity solutions, and a shift towards cloud robots.
What Main Forces Are Fueling Expansion In The Industrial Automation Market?
The burgeoning relevance of robotics is anticipated to stimulate the expansion of the industrial automation sector. Robotics involves the conceptualization, production, and management of smart machinery to aid humans. It is progressively utilized in industrial automation procedures to manage a variety of processes and machinery within an industry with an aim to boost productivity, replace human effort, enhance speed, and overall performance. For instance, as reported by the International Federation of Robotics, a non-profit organization based in Germany, in April 2024, there was a surge of 12% in the total number of industrial robot installations in 2023, accumulating to 44,303 units. Consequently, the escalating importance of robotics is fueling the growth of the industrial automation industry.
What Are The Key Segments Within The Global Industrial Automation Market?
The industrial automation market covered in this report is segmented –
1) By Component: Industrial Robots, Human Machine Interface (HMI), Industrial Sensors, Control Valves , Other Components
2) By Control System: Supervisory Control And Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control System (DCS), Manufacturing Execution System (MES), Product Lifecycle Management (PLM), Enterprise Resource Planning (ERP), Other Control Systems.
3) By Industry: Aerospace And Defense, Automotive, Healthcare, Energy And Utilities, Food And Beverages, Oil And Gas, Mining, Transportation, Other Industries.
Subsegments:
1) By Industrial Robots: Articulated Robots, SCARA Robots, Cartesian Robots, Collaborative Robots (Cobots), Delta Robots
2) By Human Machine Interface (HMI): Touch Screen HMI, PC-based HMI, Web-based HMI, Mobile HMI
3) By Industrial Sensors: Proximity Sensors, Pressure Sensors, Temperature Sensors, Level Sensors, Flow Sensors
4) By Control Valves: Globe Control Valves, Ball Control Valves, Butterfly Control Valves, Solenoid Control Valves
5) By Other Components: PLCs (Programmable Logic Controllers), Industrial Ethernet Switches, Servo Drives And Motors, Data Acquisition Systems
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How Are New Trends Impacting The Size Of The Industrial Automation Market?
Progress in technology is turning heads in the industrial automation sector as a leading trend. Innovations such as integrating Artificial Intelligence (AI) into robots equip them with the capability to understand processes autonomously, even enabling them to interact with other robots or humans in specific circumstances. Key market competitors are striving to embed AI into industrial robots to maintain their market dominance. For instance, Mitsubishi Electric Corp., a Japan-origin electronics firm announced in March 2022 that it plans to launch new industrial robotic systems equipped with its advanced Maisart AI technologies. These include high-precision speech recognition features that facilitate operators to adjust robot movements as necessary.
Who Are the Key Players in the Industrial Automation Market?
Major companies operating in the industrial automation market include:
• Siemens AG
• ABB Ltd
• Mitsubishi Electric Corporation
• Schneider Electric
• Fanuc Corporation
• Omron Corporation
• Emerson Electric Co.
• Rockwell Automation. Inc.
• Yaskawa Electric Corporation
• General Electric
• EFACEC Electric International Engineering Co. Ltd
• Precision Product Handling International Ltd
• HK AA Industrial Co.
• International Coalition of Intelligent Manufacturing
• Switek Technology Automation Co. Ltd
• Youibot Robotics
• InterTech Development Company
• United magnetics co.
• ltd
• Immetech Industrial Co. Ltd
• Zinsser Analytic GmbH
• Wiesemann & Theis GmbH
• Lammers Automation GmbH
• syskomp gehmeyr GmbH
• vision-tec gmbh
• Otc Daihen Europe Gmbh
• Koch Textilpflege GmbH
• Alukeep GmbH
• WSCAD Nederland
• Engmatec
• Hexagon
• Indusoft. Ltd
• Sinkross
• TEKKNOW
• Roxor Industry
• VERYSELL Industrial Systems Automation
• FST Rus LLC
• ProSoft
• Rusatom Automated Control Systems
• SMS-Automation
• RONDO RUS
• BFG Group
• ProMach Innovation Center
• Omnirobotic
• Proment Inc.
• Denson Automation Inc
• Rebel Automated Systems
• Honeywell International Inc
• Cognex Corporation
• Teradyne Inc.
• National Instruments Corporation
• Plexus Corp.
• Nauticus Robotics Inc.
• Novanta Inc.
• Yokogawa Electric
• CI24 Controles Inteligentes
• Rewo Uruguay
• Danlesco Gulf LLC
• ASCORP Industrial Complex LLC
• Spex Insulation Contracting
• Kimans Inc
• Team Switchgear And Control L.L.C
• Telinstra FZCO
• Autochim Systems
• Control Systems Integration (Pty) Ltd
• Festo South Africa
• DIRECTECH GROUP
• SMC Corporation
• JMP Group
• Protea automation solutions.
What are the Regional Insights into the Industrial Automation Market?
Asia-Pacific was the largest region in the industrial automation market in 2024. The regions covered in the industrial automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
