Industrial Automation Market

Industrial automation involves the use of control systems and logical programming commands to handle machines and industrial processes therefore, minimizing human interference. It also enables manufacturing facilities to increase product quality, quantity, and reliability while reducing the costs incurred in the production and designing of the product. Over the past few decades, the demand for automation by manufacturing facilities and similar industries has anticipated to drive the growth of the global industrial automation market.

The global industrial automation market was valued at USD 33,630.6 million in 2018 and is estimated to reach USD 74,666.8 million by the end of 2025 at a compound annual growth rate (CAGR) of 12.60% during the forecast period 2019–2025. The market has been segmented on the basis of type, technology, component, vertical, and region. Based on type, the market has been bifurcated into fixed automation and programmable automation. Among these, the fixed automation segment dominated the global industrial automation market in 2018 and is expected to witness a CAGR of 10.96% during the forecast period. On the basis of technology, the global market has been segmented into programmable logic controller (PLC), supervisory control & data acquisition (SCADA), remote terminal unit (RTU), programmable automation controller (PAC), distributed control system (DCS), human-machine interface (HMI), and others. Among these, the programmable logic controller (PLC) segment dominated the global market in 2018 and is estimated to witness the highest CAGR of 14.08% during the forecast period. On the basis of component, the global market has been segmented into industrial robots, controllers, sensors, switches & relays, UPS, power supplies, and others.

Among these, the industrial robots segment dominated the global market with a share of USD 8,728.8 million in 2018 and is expected to register the highest CAGR of 14.58% during the forecast period 2019–2025. Based on vertical, the global market has been segmented into oil & gas, mining & metals, and waste & wastewater. Among these, the oil & gas segment dominated the global market in 2018 and is estimated to grow at a CAGR of 11.50%. However, the waste & wastewater segment is expected to witness the highest CAGR of 14.33% during the forecast period. Regionally, the market has been segmented on the basis of North America, Europe, Asia-Pacific, and rest of the world. The North American region dominated the global industrial automation market with a share of USD 10,846.1 million in 2018; it is estimated to grow at the CAGR of 11.10% during the forecast period. However, the Asia-Pacific region is estimated to witness the fastest growth at a CAGR of 14.99% during the forecast period 2019–2025.

During the study, Wantstats has analyzed a few companies that have a prominent share in the global industrial automation market. Among these ABB Ltd, Omron Corporation, Emerson Electric Co, Rockwell Automation, Honeywell International, Siemens AG are among the prominent players that contribute a major share to the global market. Apart from these, General Electric, Mitsubishi Electric Corporation, Schneider Electric SE, KUKA AG, Ametek, Inc., Yokogawa Electric Corporation, Endress+Hauser Management AG, Wika Instruments India Pvt. Ltd, Dwyer Instruments, Inc, Stratasys Ltd, Bosch Rexroth Ag, Schlumberger Limited and Fanuc Corporation also contribute to the growth of the global market. The players continuously focus on innovations and incorporate various growth strategies to gain a competitive advantage over its peers