North America Process Automation Market Size

North America Process Automation Market Analysis

The North America Process Automation Market size is estimated at USD 39.52 billion in 2024, and is expected to reach USD 45.43 billion by 2029, growing at a CAGR of 2.83% during the forecast period (2024-2029).

The COVID-19 pandemic's impact on different industries in the United States is strongly affecting the uptake of process automation in the region. The impact of COVID-19 is quite significant on industries like energy, utilities, and resources. The oil supply chain has slowed because fewer oil and oil-derived products are being produced and used. The oil-producing regions of OPEC have called for a deep production cut of 1.5 million barrels per day to support sagging prices due to COVID-19. For instance, the overall price of West Texas Intermediate crude decreased by approximately 25% YTD. However, some of this price drop is attributed to a price war between the Saudi Kingdom and Russia.

Different baseline indicators demonstrate the impact of COVID-19 on differently sized businesses in Canada. For hours worked, SMEs are found to be hardest hit by the outbreak of the pandemic in Q1 of FY 2020. Large-scale firms were the least hit. 

• The automation industry in North America has been revolutionized by combining the digital and physical aspects of manufacturing. These changes are aimed at delivering optimum performance. Further, the focus on achieving zero waste production and shorter time to market has augmented the market's growth. The automation of manufacturing processes has offered various benefits, such as effortless monitoring, reduction of waste, and increased production speed. Automation offers customers improved quality, with standardized and dependable products, within a short span of time and at a much lower cost.
• Connecting industrial machinery and equipment and obtaining real-time data have played a key role in the adoption of SCADA, HMI, and PLC systems, and software that offer visualization. These systems help in reducing the faults in the product, reducing downtime, scheduling maintenance, and switching from being in the reactive state to the predictive and prescriptive stages for decision-making.
• The manufacturing sector is witnessing significant growth. In the United States, employment in the manufacturing sector declined over the past 25 years. The rising material costs, price reduction pressures, and increasing labor costs are the primary challenges faced by these industries. The fluctuating unit labor costs in the United States indicate an irregularity in productivity. This augmented the adoption of automation across the industrial sector, thereby reducing the costs associated with production.