What Is The Size Of Global Industrial Automation And Control Systems Industry?
Global Industrial Automation and Control Systems market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Industrial Automation and Control Systems Market is largely driven by growing adoption of process automation across numerous industries, including automotive, energy utilities, and chemicals.
Many industries like manufacturing, oil and gas, chemicals and materials, pharmaceuticals, and materials and chemicals implement automation systems and prefer to use tried-and-true standards and technology to ensure reliable, secure, and consistent operations, which is driving the market for industrial automation to grow quickly.
Industrial automation acts as a catalyst for greater dependability and efficiency that raises the return on investment (ROI). Industrial automation decreases production costs. Industrial automation decreases production costs while raising output rate and quality.
As automation involves installing hardware like highly precise robots, sensory-perceptive machines, and wheels that support mobility, it necessitates a substantial financial investment, which results in very high upfront costs.
In 2020, the manufacturing and industrial sectors have been greatly disrupted by the COVID-19 pandemic. COVID-19 has, however, considerably accelerated the growth of industrial automation across the manufacturing sector as a result of the increased adoption of industry 4.0 over the past few years.
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Global Industrial Automation And Control Systems Market By Component
The Global Industrial Automation and Control Systems market is segmented by Component into Human-Machine Interface (HMI), Component, Industrial Robots, Control Valves, Sensors and Others
Control valve component dominated the market in 2021, due to the rapid advancement of technology.
Control valves have a significant market share in the oil and gas industry owing to the benefits it offers in terms of pressure and temperature control throughout downstream, middle, and upstream activities.
The need for control valves in the power generating industry is expected to grow due to the increasing number of power production plants around the world and the growing demand for energy and electricity in developing countries.
Global Industrial Automation And Control Systems Market By Control System
The Global Industrial Automation and Control Systems Market is segmented by control system into DCS, PLC, SCADA and Others.
DCS segment dominated the market during 2021, owing to its uses including production scheduling, preventative maintenance scheduling, and information interchange.
Demand for DCS is rising as a result of features including scalability, simple and convenient installation, and automatic updates. The demand for DCS has also increased as a result of the expanding industrialization around the world, particularly in developing countries in the Asia Pacific and the Middle East.
Global Industrial Automation And Control Systems Market By Geography
The Global Industrial Automation and Control Systems market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Asia Pacific accounted for the largest market share among all regions in 2021, due to the adoption of automation continually increasing in countries such as India, Japan, China, and South Korea.
China and Japan are among the top producers and consumers of industrial robots, sensors, and machine vision systems in Asia Pacific. In addition, the manufacturing sectors for automobiles, consumer products, electronics, and pharmaceuticals are strong in India, China, and South Korea.
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Key Topics Covered in the Report
- Snapshot of Industrial Automation and Control Systems Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Industrial Automation and Control Systems Market
- Historic Growth of the Overall Industrial Automation and Control Systems Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Industrial Automation and Control Systems Market Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Industrial Automation and Control Systems Market
- Future Market Forecast and Growth Rates of the Total Industrial Automation and Control Systems Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Industrial Automation and Control Systems Market in Global Regions
- Major Production/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
Notable Emerging Companies Mentioned in the Report
- CDP Technologies AS
- ControlX Inc.
- future robotics and automation
- Renovus Vision Automation
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Industrial Automation Equipment Manufacturers and Providers
- Industrial Automation Consultants
- Automation Equipment Distributors and Developers
- Industrial Automation Solution Companies
- Research Organizations and Consulting Companies
- Robotics Manufacturing Companies
- Robotic Organizations, Forums, Alliances, And Associations
- Components Suppliers for Automation Equipment Manufacturers
- Sensors And Meter Manufacturing Companies
- Government Ministries and Departments of Engineering and Machinery
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below:-
Global Industrial Automation Market