The new report by Expert Market Research, ‘Global Industrial Automation Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Industrial Automation market, assessing the market based on segments such as Machine Vision, Robotics, Sensors. Speeds and drives, relays and switches and key areas. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, along with analyzing the market based on SWOT and Porter’s Five Forces model.
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Highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): US$153 billion
- Forecast CAGR (2021-2026): 8%
- Forecast market size (2026): US$253 billion
The Asia Pacific region has contributed significantly to the global industrial automation market. This is due to the low-cost production plants of major industry players in these regions as well as the rise of new players, particularly in China and Japan. Also, the Asia Pacific market is expected to expand at the fastest rate during the forecast period. In Asia Pacific countries such as India, China and South Korea, there is an increasing demand for better solutions for managing industrial plants, which is driving this growth. North America, followed by Asia Pacific, accounts for a major portion of the market revenue and is expected to continue to expand at a healthy rate over the forecast period. More manufacturers are adopting factory automation systems, and IoT research and development is on the rise, driving the market and aiding regional development.
Industry Definition and Major Segments
The use of control systems, such as computers or robots, and information technology to handle processes that were previously largely performed by humans, is known as industrial automation. This allows for more direct integration of the physical world into computer-based systems, resulting in many benefits such as improved efficiency, control, accuracy and cost-effectiveness.
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By equipment, the market is segmented into:
- machine vision
- speed and drive
- relay and switch
On the basis of control system, the market is segmented into:
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control System (DCS)
- Programmable Logic Controller (PLC)
- Manufacturing Execution System (MES)
- Product Lifecycle Management (PLM)
- Enterprise Resource Planning (ERP)
- Human Machine Interface (HMI)
In terms of application, the market is segmented into:
- Discrete industry, which is further sub-divided into:
- motor vehicle
- Food Processing
Process industry, which is further sub-divided into:
- oil and gas
- Healthcare & Pharma
Regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East
Manufacturing industries are undergoing rapid transformation as smart robots and automation-driven systems are increasingly replacing manual labor. Automation is seen as a necessity to meet the current demand for production. Furthermore, the market for industrial automation is driven by the demand for precision production and high quality without sacrificing quantity. Government policies that are in favor of manufacturing and the growth of the sector in emerging markets propel this industry forward. The market for industrial automation is growing as the need for digital transformation is increasing in almost all major industries such as healthcare, transportation and retail. The industry is expected to grow rapidly over the forecast period as the potential of IoT and interconnectivity is realized.
major market player
Major players in the market are Siemens AG, Emerson Electric Company, ABB Ltd., Rockwell Automation, Inc., Mitsubishi Electric Corporation, Schneider Electric and Texas Instruments Incorporated. The report covers market share, capacity, plant turnaround, expansion, investments, and mergers and acquisitions along with other latest developments from these market players.
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Note 2: As the Novel Coronavirus (COVID-19) continues to spread around the world, our analysts continue to monitor the impact of this rapidly evolving situation on markets and consumer buying behavior. Thus, our latest estimates and analysis regarding current market trends and forecast will fully reflect the effects of this emerging pandemic.
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