Industrial Automation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Industrial Automation Market Report is Segmented by Solution (Industrial Control Systems (Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC), Human-Machine Interface (HMI), and Other Control Systems), Field Devices (Sensors and Transmitters, Valves and Actuators, Motors and Drives, Robotics, and Other Field Devices), Software (Product Lifecycle Management (PLM), Enterprise Resource and Planning (ERP), Manufacturing Execution System (MES), and Other Software)), End-User Industry (Oil and Gas, Pharmaceuticals, Automotive and Transportation, Food and Beverage, Power and Utilities, Chemical and Petrochemical, and Other End-User Industries), Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

INSTANT ACCESS

Industrial Automation Market Size

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Industrial Automation Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 203.05 Billion
Market Size (2029) USD 309.16 Billion
CAGR (2024 - 2029) 8.77 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Industrial Automation Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Industrial Automation Market Analysis

The Industrial Automation Market size is estimated at USD 203.05 billion in 2024, and is expected to reach USD 309.16 billion by 2029, growing at a CAGR of 8.77% during the forecast period (2024-2029).

  • Industrial automation may potentially and considerably increase export competitiveness in developing nations. By automating their manufacturing processes, these nations can create items more quickly, effectively, and affordably, which boosts their ability to compete in the global market. This may result in higher levels of exports, better foreign currency revenues, and an improvement in the emerging economy, hence driving the market for industrial automation in developing countries.
  • Industrial automation significantly impacts small and medium-sized firms (SMEs) in developing nations. Automation may boost these companies' competitiveness and achieve sustained growth. It enables SMEs to improve productivity, streamline operations, and satisfy the needs of larger customers and supply chains. For instance, Industrial automation optimizes resources and reduces production times, freeing personnel for strategic tasks. According to the International Federation of Robotics (IFR), productivity increases by up to 30% in manufacturing with automation in multiple processes.
  • According to the International Monetary Fund (IMF), growth rates for emerging markets and developing economies are projected to be 4.2% in 2024 and 2025 compared to 4.3% in 2023. In many developing countries such as India, several initiatives by the Government of India, like the scrappage policy, Automotive Mission Plan 2026, and production-linked incentive scheme in the Indian market, are expected to make India a significant player in the two-wheeler and four-wheeler market. Such policies include adopting automation technologies and fostering a favorable environment for the market studied.
  • Automation equipment mandates high capital investment to fund smart manufacturing (an automated system may cost millions of dollars to install, design, and fabricate). The cost of purchasing the equipment, including robotic systems, conveyor belts, sensors, and control systems, can be substantial. The factory automation equipment also necessitates the customization and integration into existing production systems. This process involves designing, engineering, and programming the equipment to meet specific manufacturing requirements. This poses a significant hindrance to the growth of the market studied.
  • Apart from the direct impact evident in the supply chains and production of industrial automation solutions, the aftereffects of the pandemic are also impacting the growth of the studied market. For instance, the ongoing threat of recession looming over various regions, including North America, may negatively influence the studied market's growth as the economic uncertainty will prevent consumers and businesses from spending more on high-value products such as automobiles and expansion projects, which may impact the growth of the market studied.

Industrial Automation Market Trends

Oil and Gas Industry to Witness Significant Growth

  • The oil and gas industry has been a dominating segment in adopting industrial automation solutions. However, the growth prospects for industrial automation in this industry are limited compared to other developing industries, and therefore, the growth rate is expected to slow in this industry.
  • Oil and gas automation, also known as oilfield automation, is a set of processes, many leveraging digital technologies, aimed at enhancing the competitiveness of energy producers in global markets. While certain sectors within the industry are more primed for automation, key areas include drilling, production operations, logistics, safety, and retail operations. Oil and gas automation predominantly relies on IoT-based sensors, predictive systems, and AI-driven expert systems to boost productivity and bridge skill gaps arising from labor shortages.
  • The oil and gas industry's hazardous environments are increasingly being navigated through automation. Robots and automated systems handle tasks like drilling, inspection, and maintenance, significantly reducing human exposure to risks.
  • The industry is bolstering safety with automated features like emergency shutdown systems, guaranteeing swift responses to difficult situations. By deploying sensors and automated tools, companies are ensuring compliance with regulations and curbing their environmental footprint.
  • The oil and gas industry is a vital component of the global economy. As per IEA, global production of liquid fuels will increase by more than 0.8 million b/d in 2024, slowing from the 1.8 million b/d increase in 2023, as OPEC+ voluntary production cuts are offset by supply growth outside of OPEC+. Although OPEC+ crude oil production in 2024 decreases by 0.9 million b/d compared with last year, forecast production outside of OPEC+ increased by 1.8 million b/d, led by the United States, Guyana, Brazil, and Canada. With significant surge in oil production and surging digitization, oil and gas companies have increasingly relied on digital technology and automation.
Industrial Automation Market: Forecast of Liquid Fuel Production in OPEC and non-OPEC Countries, in Million Barrels per day, Global, 2006-2030

Asia-Pacific is Expected to Register the Fastest Growth

  • Asia-Pacific is home to some of the world's largest manufacturing economies, including China, Japan, South Korea, and Taiwan. The ongoing expansion of manufacturing industries in automotive, electronics, aerospace, and medical devices creates a significant demand for industrial automation.
  • Initiatives by emerging countries like India to expand their manufacturing footprint and become self-reliant further propel the market growth. Manufacturing emerged as one of the high-growth sectors in India. The 'Make in India' program places India on the global map as a manufacturing hub and globally recognizes the Indian economy. According to IBEF, India can export goods worth USD 1 trillion by 2030 and is on the road to becoming a significant global manufacturing hub.
  • The government of India aims for a USD 5 trillion economy by 2025, of which manufacturing would be worth USD 1 trillion. The convergence of flagship programs, such as Make in India with Skill India and Digital India, would be vital to achieving this goal, thereby driving the region's market growth.
  • The ongoing initiatives to build a battery manufacturing plant for faster adoption of electric vehicles are further driving the market growth. For instance, in August 2023, Recharge Industries announced its plans to build a factory with an annual capacity of 30 gigawatt-hours to supply batteries for roughly 300,000 EVs. Construction is expected to begin around May 2024, with production slated to start in 2025.
  • The region is the biggest semiconductor and electronics product manufacturer due to the presence of companies like Taiwan Semiconductor Manufacturing Company. Taiwan produces over 60% of the world's semiconductors and over 90% of the most advanced ones. Most of the semiconductors are manufactured by TSMC.
Industrial Automation Market: Market CAGR (%), By Region, Global

Industrial Automation Industry Overview

The industrial automation market is highly fragmented due to the presence of small and medium-sized enterprises and global players. Some of the major players in the market are Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., Emerson Electric Co., and ABB Limited. Key players in the market are adopting strategies such as acquisitions and partnerships to enhance their product offerings and gain sustainable competitive advantage.

  • June 2024 - Rockwell Automation announced a partnership with NVIDIA to expedite the development of safer and smarter industrial AI mobile robots. The collaboration is anticipated to drive the use of AI in autonomous mobile robots (AMRs), improving their performance and efficiency.
  • February 2024 - Schneider Electric, in partnership with tech giants Intel and Red Hat, unveiled a new software framework, the Distributed Control Node (DCN). Building upon Schneider Electric's EcoStruxure Automation Expert, this innovative framework empowers industrial firms to transition to a software-defined, plug-and-play model. This shift boosts operational efficiency and quality and streamlines processes, ultimately leading to cost savings.

Industrial Automation Market Leaders

  1. Schneider Electric SE

  2. Rockwell Automation Inc.

  3. Honeywell International Inc.

  4. Emerson Electric Co.

  5. ABB Limited

*Disclaimer: Major Players sorted in no particular order

Industrial Automation Market Concentration
Need More Details on Market Players and Competitors?
Download PDF

Industrial Automation Market News

  • April 2024: Emerson unveiled its automation solutions at the Hannover Messe in Germany in April 2024, emphasizing its 'Floor to Cloud' strategy. A key highlight was the PACSystems exhibit, specifically crafted to showcase its prowess in energy monitoring. This demonstration showcased Emerson's energy efficiency and offered insights into the energy consumption of adjacent booths. The primary aim was to underscore the potential of industrial edge control systems, when paired with sophisticated software and analytics, in continuously enhancing operational efficiency by maximizing equipment and resources.
  • January 2024: ABB announced the acquisition of Sevensense, a Swiss start-up operating in the industrial robotics industry. The company aims to enhance its capabilities in the industrial robot segment through this.

Industrial Automation Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Technological Trends/Advancements

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitutes

      5. 4.3.5 Degree of Competition

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Analysis of the Macro Trends on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Growth of Industrial Activities in Developing Economies

      2. 5.1.2 Growing Emphasis on Energy Efficiency and Cost Reduction

    2. 5.2 Market Restrains

      1. 5.2.1 High Cost of Installation and Re-building

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Solution

      1. 6.1.1 Industrial Control Systems

        1. 6.1.1.1 Distributed Control System (DCS)

        2. 6.1.1.2 Supervisory Control and Data Acquisition (SCADA)

        3. 6.1.1.3 Programmable Logic Controller (PLC)

        4. 6.1.1.4 Human-machine Interface (HMI)

        5. 6.1.1.5 Other Control Systems

      2. 6.1.2 Field Devices

        1. 6.1.2.1 Sensors and Transmitters

        2. 6.1.2.2 Valves and Actuators

        3. 6.1.2.3 Motors and Drives

        4. 6.1.2.4 Robotics

        5. 6.1.2.5 Other Field Devices

      3. 6.1.3 Software

        1. 6.1.3.1 Product Lifecycle Management (PLM)

        2. 6.1.3.2 Enterprise Resource and Planning (ERP)

        3. 6.1.3.3 Manufacturing Execution System (MES)

        4. 6.1.3.4 Other Software

    2. 6.2 By End-user Industry

      1. 6.2.1 Oil and Gas

      2. 6.2.2 Pharmaceuticals

      3. 6.2.3 Automotive and Transportation

      4. 6.2.4 Food and Beverage

      5. 6.2.5 Power and Utilities

      6. 6.2.6 Chemical and Petrochemical

      7. 6.2.7 Other End-user Industries

    3. 6.3 By Geography***

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia

      4. 6.3.4 Australia and New Zealand

      5. 6.3.5 Latin America

      6. 6.3.6 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 Schneider Electric SE

      2. 7.1.2 Rockwell Automation Inc.

      3. 7.1.3 Honeywell International Inc.

      4. 7.1.4 Emerson Electric Co.

      5. 7.1.5 ABB Limited

      6. 7.1.6 Mitsubishi Electric Corporation

      7. 7.1.7 Siemens AG

      8. 7.1.8 Omron Corporation

      9. 7.1.9 Yokogawa Electric Corporation

      10. 7.1.10 Yaskawa Electric Corporation

      11. 7.1.11 Kuka Aktiengesellschaft

      12. 7.1.12 Fanuc Corporation

      13. 7.1.13 Regal Rexnord Corporation

      14. 7.1.14 Nidec Corporation

      15. 7.1.15 Basler AG

  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability
*** In the Final Report Asia, Australia and New Zealand will be Studied Together as 'Asia Pacific'
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Industrial Automation Industry Segmentation

The market is defined by the revenue accrued from the sales of various industrial automation solutions, including industrial control systems, field devices, and software.

The industrial automation market is segmented by solution (industrial control systems [distributed control system (DCS), supervisory control and data acquisition (SCADA), programmable logic controller (PLC), human-machine interface (HMI), and other control systems], field devices [sensors and transmitters, valves and actuators, motors and drives, robotics, and other field devices], by software [product lifecycle management (PLM), enterprise resource and planning (ERP), manufacturing execution system (MES), and other software]), by end-user industry (oil and gas, pharmaceuticals, automotive and transportation, food and beverage, power and utilities, chemical and petrochemical, and other end-user industries), by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The report offers market forecasts and size in value (USD) for all the above segments.

By Solution
Industrial Control Systems
Distributed Control System (DCS)
Supervisory Control and Data Acquisition (SCADA)
Programmable Logic Controller (PLC)
Human-machine Interface (HMI)
Other Control Systems
Field Devices
Sensors and Transmitters
Valves and Actuators
Motors and Drives
Robotics
Other Field Devices
Software
Product Lifecycle Management (PLM)
Enterprise Resource and Planning (ERP)
Manufacturing Execution System (MES)
Other Software
By End-user Industry
Oil and Gas
Pharmaceuticals
Automotive and Transportation
Food and Beverage
Power and Utilities
Chemical and Petrochemical
Other End-user Industries
By Geography***
North America
Europe
Asia
Australia and New Zealand
Latin America
Middle East and Africa
Need A Different Region Or Segment?
Customize Now

Industrial Automation Market Research FAQs

The Industrial Automation Market size is expected to reach USD 203.05 billion in 2024 and grow at a CAGR of 8.77% to reach USD 309.16 billion by 2029.

In 2024, the Industrial Automation Market size is expected to reach USD 203.05 billion.

Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., Emerson Electric Co. and ABB Limited are the major companies operating in the Industrial Automation Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Industrial Automation Market.

In 2023, the Industrial Automation Market size was estimated at USD 185.24 billion. The report covers the Industrial Automation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Automation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Automation Industry Report

Statistics for the 2024 Industrial Automation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Automation analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Industrial Automation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)