Industrial Automation And Control Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Industrial Automation And Control Systems Market Segments, Drivers, Restraints, And Trends For 2024-2033
— The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, September 26, 2024 /EINPresswire.com/ — The industrial automation and control systems market has experienced robust growth in recent years, expanding from $194.38 billion in 2023 to $215.78 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to cost reduction, increasing demand for efficiency, regulatory compliance, globalization of supply chains, rise of PLCs (programmable logic controllers).
What Is The Estimated Market Size Of The Global Industrial Automation And Control Systems Market And Its Annual Growth Rate?
The industrial automation and control systems market is projected to continue its strong growth, reaching $334.49 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to industry 4.0 and IoT integration, demand for flexibility and customization, cybersecurity concerns, energy efficiency requirements, integration of robotics.
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Growth Driver Of The Industrial Automation And Control Systems Market
The increasing adoption of automation is expected to propel the growth of the industrial automation and control systems market going forward. Automation describes technical applications that require less human involvement. This includes personal applications such as home automation, business process automation (BPA), and information technology automation. Industrial automation and control systems are utilized to improve precision and overall factory operations by using computer software and robotics to operate machinery and processes that substitute humans in executing specific duties.
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Which Market Players Are Steering The Industrial Automation And Control Systems Market Growth?
Key players in the market include ABB Ltd., Emerson Electric Co., Honeywell International Inc., Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, Texas Instruments Inc., Robert Bosch GmbH, Fortive, Ametek EIG, Phoenix Contact GmbH & Co. KG, General Electric Company, Johnson Controls International PLC, Fanuc Corporation, Advantech Co. Ltd., Bosch Rexroth AG, Beckhoff Automation GmbH & Co. KG, Eaton Corporation PLC, National Instruments Corporation, Keyence Corporation, Delta Electronics Inc., Pilz GmbH & Co. KG, Danaher Corporation, Endress+Hauser Group, Pepperl+Fuchs AG, WAGO Kontakttechnik GmbH & Co. KG.
What Are The Key Trends That Influence Industrial Automation And Control Systems Market Share And Analysis?
Major companies operating in the industrial automation and control systems market are focused on developing advanced controllers, such as integrated controllers, for industrial automation. An integrated controller refers to a device or system that combines multiple control functions into a single unit.
How Is The Global Industrial Automation And Control Systems Market Segmented?
1) By Component: HMI (Human-Machine Interface), Industrial Robots, Control Valves, Sensors, Other Component
2) By Control System: DCS (Distributed Control System), PLC (Programmable Logic Controller), SCADA (Supervisory Control And Data Acquisition)
3) By End-User Industry: Aerospace and Defense, Automotive, Chemical, Energy and Utilities, Food and Beverage, Healthcare, Manufacturing, Mining and Metal, Oil and Gas, Transportation
Geographical Insights: Asia-Pacific Leading The Industrial Automation And Control Systems Market
Asia-Pacific was the largest region in the market in 2023 and is expected to be the fastest-growing region in the market during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Industrial Automation And Control Systems Market Definition
Industrial automation and control systems refer to the use of autonomous systems to control machinery and processes in numerous industries through the use of technology such as robots and computer software. It improves productivity, quality, and system performance that lowers operational expenses.
Industrial Automation And Control Systems Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global industrial automation and control systems market report covering trends, opportunities, strategies, and more
The Industrial Automation And Control Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on industrial automation and control systems market size, industrial automation and control systems market drivers and trends, industrial automation and control systems market major players and industrial automation and control systems market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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