MarkNtel Advisors recently published a detailed industry analysis of the Industrial Automation Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Industrial Automation Market (2024-2030)
The Global Industrial Automation Market size was valued at around USD 162 billion in 2023 and is expected to register a CAGR of around 10.8% during the forecast period, i.e., 2024-30.
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What is driving the Industrial Automation market?
Increasing Implementation of Industrial IoT to Boost Market Value – The significance of IoT in industrial automation is boosting the market size worldwide as it facilitates the development and optimization of efficient, economical, and adaptable system frameworks. The integration of Industrial IoT (IIoT) solutions enables connectivity between industrial resources for swift transparency and heightened efficiency. IIoT in conjunction with edge computing simplifies device management throughout its lifecycle across manufacturing processes.
Several companies are implementing their own industrial IoT technology to enhance their efficiency, productivity, and overall performance. One such instance is Siemens, which developed its own industrial IoT offerings, such as MindSphere, Mendix, and IndustrialEdge that rely on automation technologies for insights derived from industrial data. Hence, organizations implement these technologies to streamline their operations while enhancing customer satisfaction. Consequently, there is a projected market growth trajectory due to the widespread adoption and implementation of IIoT within various industries.
What segments define the Industrial Automation market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Component
(Field Devices, [Industrial Robots, Human Machine Interface (HMI), Control Valves, Sensors, Industrial 3D Printing, Others (Machine Vision, Fields Instruments, etc.)], Industrial Control Systems, [Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control System (DCS), Manufacturing Execution System (MES), Product Lifecycle Management (PLM), Others (Industrial Safety, Plant Asset Management (PAM), etc.)],
By Level of Automation
(Semi-automatic, Fully Automatic),
By End User
(Automotive, Mining, Water & Wastewater Management, Electronic & Semiconductors, Energy & Power, Food & Beverages, Oil & Gas, Others (Pharmaceuticals, Chemicals, etc.))
Region
(North America, Europe, Asia-Pacific, South America, Middle East & Africa)
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Who are the leading key players shaping the Industrial Automation Market landscape?
ABB Ltd., Dwyer Instruments, Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., Schneider Electric, Siemens AG, Yokogawa Electric Corporation, Fanuc Corporation, WIKA Gmbh, Stratasys, 3D Systems Corp., and Others
Questions Addressed in this Study
1.What factors are driving the Industrial Automation Market growth?
2.How is the Industrial Automation Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Industrial Automation Market?
4.What is the current size of the Industrial Automation Market, and how is it projected to change in the future?
6.What is the future outlook for the Industrial Automation Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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