Industrial automation refers to the utilization of control systems, such as robots or computers, and information technologies for the purpose of handling of various machineries and processes within an industry to replace the work done by a human being. It is the second step that goes beyond phenomenon of mechanization in the form of industrialization. The growth of the global industrial automation market can be ascribed to the growing focus on optimum utilization of resources and industrial automation. In addition to that, augmented utilization of enabling technologies in the areas of manufacturing together with increased adoption of industrial robots in the various areas of the manufacturing sector are likely to widen the scope of the global industrial automation market in the years to come.
In recent times, governments have also played a significant role in encouraging industrial automation so as to cater to the need of mass production for the ever increasing demand of the rising population.
Industrial automation also offers high safety for workers. It helps in handling hazardous tasks, thereby reducing the risk of life and health for human workers.
Such multiple benefits of industrial automation are likely to amplify the growth of the global industrial automation market in the years to come. More manufacturers are installing industrial robots to facilitate convenience in the production and distribution processes. As the adoption of industrial robots rise, the global industrial automation market is estimated to achieve high growth in the years to come.
Global Industrial Automation Market: Snapshot
The demand within the global market for industrial automation has been rising on account of advancements in the field of manufacturing and testing. Industrial automation is a wide area of technological relevance that can help in fast-tracking the growth of several industrial units and segments. Machine learning, internet of things (IoT), and artificial intelligence are some of the key areas that have helped in accelerating the growth of the industrial automation market. The need for agility and seamless execution within the industrial sector has led to the adoption of several new technologies in this area. Furthermore, industries can thrive with the presence of a wide network for management of internal and external functionalities. This factor necessitates the presence of industrial automation technologies that can accelerate market growth. Industrial automation facilitates the growth of several domains across industries viz. sales, manufacturing, value-chain, and labor management. Hence, the value of industrial automation cannot be undermined in the current scenario. The global industrial automation is projected to reek of unhindered growth in the years to follow.
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The global market for industrial automation is expected to expand at a stellar pace on account of advancements in the worldwide secondary (manufacturing) sector. The global industrial automation market is prognosticated to expand at a stellar CAGR of 7.56% over the period between 2019 and 2027. Furthermore, the value of the global industrial automation market is expected to touch US$438.08 bn by 2027-end, rising up from US$227.29 bn in 2018.
This report preview by Transparency Market Research (TMR) on the global industrial automation market gives a core idea about the trends and opportunities pertaining to market growth. The market for industrial automation endows a plethora of opportunities for growth and development. The segments within the global industrial automation market have been enunciated in the report.
SCADA System to Gather Immense Popularity
On the basis of automation type, the global market for industrial automation has been segmented into programmable logic control systems (PLC), manufacturing execution systems (MES), distributed control system (DCS), machine vision systems, human machine interface (HMI), product lifecycle management (PLM), supervisory control and data acquisition (SCADA), plan asset management, electronic control units, and computer numeric control routers (CNC). Amongst these, the demand for SCADA systems is expected to increase at a robust rate due to the need to maintain the integrity of data and information. On the basis of industry, the use of industrial automation spans across transportation and automotive, energy and power systems, mining and metals, food and beverages, chemicals, instruments and measurements, heavy industries, oil and gas, paper and pulp, and hydropower. The use of industrial automation has been rising across the automation industry over the past decade. This majorly owes to the increasing need for accelerating manufacturing activities in the automobile industry.
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European Market to Expand at a Stellar Pace
On the basis of geography, the market for industrial automation has been segmented into Latin America, the Middle East and Africa (MEA), Europe, Asia Pacific (APAC), and North America. The market for industrial automation in Europe has been expanding at a boisterous pace over the past decade. This owes to the widespread deployment of industrial automation in the automobile industry across the region. Furthermore, countries such as Germany and France are well-known for their expertise in the domain of automobile manufacturing.
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