Industrial Automation and Control Systems Global Market Report 2024

The industrial automation and control systems market size has grown rapidly in recent years. It will grow from $194.38 billion in 2023 to $215.78 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The expansion observed during the historical period can be attributed to factors such as cost reduction initiatives, a growing demand for efficiency, adherence to regulatory compliance, the globalization of supply chains, and the increasing prominence of Programmable Logic Controllers (PLCs).

The industrial automation and control systems market size is expected to see rapid growth in the next few years. It will grow to $334.49 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The anticipated growth in the forecast period can be attributed to factors such as the integration of Industry 4.0 and the Internet of Things (IoT), a heightened demand for flexibility and customization in industrial processes, growing concerns about cybersecurity, requirements for energy efficiency, and the increased integration of robotics. Key trends expected during this period include digital transformation initiatives, a focus on cybersecurity measures, the adoption of edge computing, integration with cloud technologies, the use of collaborative robots, and the implementation of digital twins for virtual modeling.

The industrial automation and control systems market are set for growth, primarily driven by the increasing adoption of automation. Automation encompasses various technical applications that reduce the need for extensive human involvement, including home automation, business process automation (BPA), and information technology automation. Industrial automation and control systems leverage computer software and robotics to operate machinery and processes, enhancing precision and overall factory operations. Notably, in November 2021, the Association for Advancing Automation reported a 67% increase in robot orders during the second quarter of 2021 compared to the same period in 2020. This surge indicates a resurgence in automation demand in manufacturing, reaching pre-COVID-19 pandemic levels. North American companies ordered 9,853 robots for $501 million in Q2 2021, up from 5,196 robots in Q2 2020, underscoring the driving force behind the industrial automation and control systems market.

The industrial automation and control systems market are anticipated to experience growth fueled by the escalating threat of cyberattacks. Cyberattacks involve malicious attempts to breach digital systems, networks, or devices for unauthorized access, operational disruption, or sensitive information theft. Industrial automation and control systems are incorporating advanced safety features and cybersecurity measures to safeguard critical infrastructure against cyber threats. A January 2023 report from Checkpoint, an Israel-based cybersecurity provider, revealed a 38% increase in global cyberattacks in 2022 compared to 2021. This rise in cyber threats underscores the significance of cybersecurity measures in the industrial automation and control systems market.

A prominent trend in the industrial automation and control systems market is the focus on technological advancements. Major companies in this sector are dedicated to developing innovative solutions to enhance their market standing. For example, in September 2021, Honeywell International Inc., a US-based multinational conglomerate, introduced a smart flexible depalletizer utilizing cutting-edge robotic technology. This solution, integrating machine learning and gripping technologies, facilitates pallet unloading without pre-programming or operator intervention, contributing to increased productivity and reduced injuries in industrial automation warehouses.

Major players in the industrial automation and control systems market are concentrating on developing advanced controllers, such as integrated controllers, to enhance industrial automation. Integrated controllers consolidate multiple control functions into a single unit, providing efficiency and streamlined operations. In April 2023, OMRON, a Japan-based electronics company, launched the NX502 CPU Unit, the latest addition to its NX series. Paired with the NX-EIP201 EtherNet/IP Unit, these controllers offer precision data collection, large-capacity transfer capabilities, and real-time analysis, optimizing resource utilization and enabling large-scale, high-speed safety in changing production lines.

In April 2021, Accenture plc, an Ireland-based professional IT services corporation, acquired Pollux to broaden its capabilities for clients in various industries. Pollux, a Brazil-based industrial automation company, specializes in providing robotics and automation solutions, aligning with Accenture's goal to enhance productivity, safety, and sustainability in factories, plants, and supply chains globally. This strategic acquisition positions Accenture to accelerate its industrial automation services at a global level.

Major companies operating in the industrial automation and control systems market report are ABB Ltd., Emerson Electric Co., Honeywell International Inc., Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, Texas Instruments Inc., Robert Bosch GmbH, Fortive, Ametek EIG, Phoenix Contact GmbH & Co. KG, General Electric Company, Johnson Controls International plc, Fanuc Corporation, Advantech Co. Ltd., Bosch Rexroth AG, Beckhoff Automation GmbH & Co. KG, Eaton Corporation plc, National Instruments Corporation, Keyence Corporation, Delta Electronics Inc., Pilz GmbH & Co. KG, Danaher Corporation, Endress+Hauser Group, Pepperl+Fuchs AG, WAGO Kontakttechnik GmbH & Co. KG.

Asia-Pacific was the largest region in the industrial automation and control systems market in 2023 and is expected to be the fastest-growing region in the industrial automation and control systems market during the forecast period. The regions covered in the industrial automation and control systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial automation and control systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main components of industrial automation and control systems include the Human-Machine Interface (HMI), industrial robots, control valves, sensors, and other related elements. The HMI serves as a user interface or dashboard connecting individuals to machines, systems, or devices. It is integrated into various control systems such as Distributed Control System (DCS), Programmable Logic Controller (PLC), and Supervisory Control and Data Acquisition (SCADA). These systems find application in diverse industries, including aerospace and defense, automotive, chemical, energy and utilities, food and beverage, healthcare, manufacturing, mining and metals, oil and gas, and transportation.

The Industrial automation and control systems market research report is one of a series of new reports that provides Industrial automation and control systems market statistics, including Industrial automation and control systems industry global market size, regional shares, competitors with a Industrial automation and control systems market share, detailed Industrial automation and control systems market segments, market trends and opportunities, and any further data you may need to thrive in the Industrial automation and control systems industry. This Industrial automation and control systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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