Insights on the Industrial Automation and Control Systems Global Market to 2028: Featuring Schneider Electric, Rockwell Automation, Honeywell International, Emerson Electric and ABB Among Others
Sunday, April 16, 2023
DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global Industrial Automation and Control Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 By Component, Control System, Industry, Region" report has been added to ResearchAndMarkets.com's offering.
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According to this analysis, the Global Industrial Automation and Control Systems Market was valued at ~US$ 150 billion in 2017. The market is anticipated to grow significantly throughout the projected period as a result of the growing adoption of process automation across numerous industries, including automotive, energy utilities, and chemicals. It is estimated to be ~US$ 250 billion in 2022 and is expected to reach a market size of ~US$ 450 billion by 2028 growing at a CAGR of ~11% during 2022-2028.
Industrial automation uses technology and control systems, such as computers and robots, to complete activities that were previously completed manually. These solutions reduce the need for operator engagement and supervision by automating industrial equipment operations. Industrial automation control system solutions require smart devices for data gathering as well as secure infrastructures to enable communications and data transfers.
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 while raising output rate and quality through the use of cutting-edge, integrated technology.
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.
Scope of the Report
The Global Industrial Automation and Control Systems Market are segmented by Component Type, Control System, and Industry. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion
By Component
-- Human-Machine Interface (HMI) Component
-- Industrial Robots
-- Control Valves
-- Sensors
-- Others
By Control System
-- DCS
-- PLC
-- SCADA
-- Others
By End-user Industry
-- Aerospace & Defense
-- Automotive
-- Chemical
-- Energy & Utilities
-- Food & Beverage
-- Healthcare
-- Manufacturing
-- Mining & Metal
-- Oil & Gas
-- Transportation
-- Others
By Geography
-- North America (USA, Canada, Mexico)
-- Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
-- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia
Pacific)
-- LAMEA (Latin America, Middle East, Africa)
Key Players
-- Schneider Electric
-- Rockwell Automation, Inc
-- Honeywell International Inc
-- Emerson Electric Co
-- ABB
-- Mitsubishi Electric Corporation
-- Siemens
-- Omron Corporation
-- Yokogawa Electric Corporation
-- General Electric Co
Key Trends by Market Segment
By Component- 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
By Control System - DCS segment dominated the market during 2021, owing to its uses including production scheduling, preventative maintenance scheduling, and information interchange.
-- An automated management solution for monitoring and managing a variety
of industrial processes is called a distributed control system (DSC). It
is utilized for information reporting, process control, process
supervision, and data collection
-- 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
By Industry- The manufacturing industry dominated the market during the forecast period due to trends in the manufacturing sector being at the forefront as it goes through its biggest transition in recent years
-- Manufacturing operations are increasingly moving toward automation and
technological convergence as manufacturers see the value of a successful
digital transformation
-- The adoption of automation solutions also makes it easier to integrate
data about production processes and electric assets, which contributes
to greater sustainability over the course of a manufacturing plant's
entire lifecycle
-- By Geography: 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.
Government programs and laws that support the digitization of manufacturing facilities and investments in the IIoT are also significant drivers of the adoption of industrial automation systems in Asia Pacific region.
Time Period Captured in the Report
-- Historical Period: 2017-2021
-- Forecast Period: 2022E-2028F
Frequently Asked Questions
What is the Study Period of this Market Report?
-- The Global Industrial Automation and Control Systems Market are covered
from 2017-2028 in this report, which includes a forecast for the period
2022-2028
What is the Future Growth Rate of the Global Industrial Automation and Control Systems Market?
-- The Global Industrial Automation and Control Systems Market is expected
to witness a CAGR of ~11% over the next six years
What are the Key Factors Driving the Global Industrial Automation and Control Systems Market?
-- The result of the growing adoption of process automation across numerous
industries, including automotive, energy utilities, and chemicals are
expected to be the primary driver of this market
Which is the Largest Component Segment within the Global Industrial Automation and Control Systems Market?
-- The control valves component segment held the largest share of the
global industrial automation and control systems market in 2021
Who are the Key Players in the Global Industrial Automation and Control Systems Market?
-- Schneider Electric, Rockwell Automation, Inc., Honeywell International
Inc., Emerson Electric co., ABB, Mitsubishi Electric Corporation,
Siemens, Omron Corporation, Yokogawa Electric Corporation, General
Electric Co., and among others are the major companies operating in the
Global Industrial Automation and Control Systems Market.
For more information about this report visit https://www.researchandmarkets.com/r/pl17gb
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