Industrial Automation Global Market Opportunities And Strategies To 2032

This report describes and explains the industrial automation market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The industrial automation market reached a value of nearly $173,031.9 million in 2022, having grown at a compound annual growth rate (CAGR) of 3.6% since 2017. The market is expected to grow from $173,031.9 million in 2022 to $242,476.0 million in 2027 at a rate of 7.0%. The market is then expected to grow at a CAGR of 8.4% from 2027 and reach $363,519.0 million in 2032.

Growth in the historic period resulted from increasing adoption of robotics, strong economic growth in emerging markets, government support and increasing automotive production.

Going forward, increasing adoption of IoT, rising healthcare expenditure, rising demand from agriculture industry and increase in passenger air traffic will drive the growth. Factors that could hinder the growth of the industrial automation market in the future include shortage of skilled professionals, rising interest rates and the Russia-Ukraine war.

The industrial automation market is segmented by component into industrial robots, human machine interface (HMI), industrial sensors, control valves and other components. The industrial robots market was the largest segment of the industrial automation market segmented by component accounting for 26.6% of the total in 2022. Going forward, the industrial sensors market is expected to be the fastest growing segment in the industrial automation market segmented by component, at a CAGR of 7.3% during 2022-2027.

The industrial automation market is segmented by control system into supervisory control and data acquisition (SCADA), programmable logic controller (PLC), distributed control system (DCS), manufacturing execution system (MES), product lifecycle management (PLM), enterprise resource planning (ERP) and other control systems. The enterprise resource planning (ERP) market was the largest segment of the industrial automation market segmented by control system accounting for 24.1% of the total in 2022. Going forward, the distributed control system (DCS) market is expected to be the fastest growing segment in the industrial automation market segmented by control system, at a CAGR of 7.24% during 2022-2027.

The industrial automation market is segmented by industry into aerospace and defense, automotive, healthcare, energy and utilities, food and beverages, oil and gas, mining, transportation and other industries. The aerospace and defense market was the largest segment of the industrial automation market segmented by industry accounting for 18.0% of the total in 2022. Going forward, the oil and gas market is expected to be the fastest growing segment in the industrial automation market segmented by industry, at a CAGR of 7.35% during 2022-2027.

Asia Pacific was the largest region in the industrial automation market, accounting for 40.9% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the industrial automation market will be South America, and, Middle East where growth will be at CAGRs of 9.3% and 8.6% respectively. These will be followed by Africa, and, Asia Pacific where the markets are expected to grow at CAGRs of 8.5% and 7.2% respectively.

The industrial automation market is fairy fragmented, with a large number of players. The top ten competitors in the market made up to 23.38% of the total market in 2021. Siemens AG was the largest competitor with 4.14% share of the market, followed by ABB Ltd with 3.42%, Mitsubishi Electric Corporation with 3.21%, Schneider Electric with 2.89%, Fanuc Corporation with 2.27%, Omron Corporation with 2.13%, Emerson Electric Co. with 1.76%, Rockwell Automation, Inc. with 1.36%, Yaskawa Electric Corporation with 1.32%, and General Electric with 0.87%.

The top opportunities in the industrial automation market segmented by component will arise in the industrial robots segment, which will gain $18,620.7 million of global annual sales by 2027. The top opportunities in segment by control system will arise in the enterprise resource planning (ERP) segment, which will gain $17,344.5 million of global annual sales by 2027. The top opportunities in segment by industry will arise in the aerospace and defense segment, which will gain $12,686.3 million of global annual sales by 2027. The industrial automation market size will gain the most in the USA at $20,650.7 million.

Market-trend-based strategies for the industrial automation market include leveraging artificial intelligence (AI) for improving efficiency and mass production, focusing on edge and cloud computing for real-time data processing, leveraging 5G technology, focusing on cybersecurity solutions and focusing on cloud robots.

Player-adopted strategies in the industrial automation market include expanding product portfolio through strategic acquisitions, launching compact robotic solutions, strengthening operational capabilities and focusing on strategic collaborations.

To take advantage of the opportunities, the publisher recommends the industrial automation companies to focus on implementation of AI in industrial automation, focus on edge and cloud computing for industrial automation, focus on 5G in industrial automation, focus on cybersecurity solutions, focus on cloud robots, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, and continue to target fast-growing industries.