Worldwide Industrial Automation Industry to 2027 - Growing Number of SMEs Presents Opportunities
DUBLIN, July 6, 2021 /PRNewswire/ -- The "Industrial Automation Market by Component (Plant-level Controls, Enterprise-level Controls, Plant Instrumentation), Mode of Automation (Semi-automatic, Fully-automatic), and End User (Oil & Gas, Automotive, Food & Beverage, Chemicals & Materials)-Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The industrial automation market is expected to record a CAGR of 9.3% from 2020 to 2027 to reach $306.2 billion by 2027.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, and opportunities. The increasing popularity of industrial robots and enterprise-level controls and the rising awareness regarding the benefits of automation among end-use industries are the factors propelling the growth of the industrial automation market. The growing adoption of industrial IoT and machine learning technologies supports the implementation of automation across end-use industries due to benefits such as reduced costs from predictive maintenance and increased operational efficiency. Robotic installations are increasing rapidly to replace human workers completely or assist them in intensive tasks to eliminate production errors.
The growing popularity of plant instrumentation and enterprise-level control components for automating hardware and software across industries supports the growth of the industrial automation market. The growing need for monitoring, controlling, and analyzing machine operations and predicting downtime & faults drives the need for sensors. A wide range of sensor technologies has been developed to address different applications and environments. Proximity sensors, vision sensors, ultrasonic sensors, position sensors, photoelectric sensors, temperature sensors, and inclination sensors are some of the sensors used in automation applications. The development of automation solutions with integrated sensors increases the performance efficiency of manufacturing plants and allows companies to manage operating costs.
The COVID-19 pandemic has moderately impacted industrial operations and manufacturing activities globally, affecting the growth of the industrial automation market. Lowered demand for luxury goods, automobiles, and electronics and countrywide lockdowns during the pandemic have reduced sales revenues in the automotive, consumer electronics, and consumer goods industries. These factors also impacted investments in industrial automation solutions during 2020. The industrial automation market is expected to recover steadily in 2021 and 2022 as companies are projected to implement automated systems to minimize human intervention in industrial and manufacturing processes.
Based on component, the industrial automation market is segmented into plant instrumentation, plant-level controls, and enterprise-level controls. The plant instrumentation segment is projected to witness considerable growth over the forecast period due to the growing need for sensors, robots, and machine vision systems among both basic and advanced manufacturing facilities. Machine vision enables machines to use vision for performing industrial tasks. It uses cameras, sensors, and computing power to help machines understand images and perform industrial tasks such as manufacturing and quality verification. These features enable companies to monitor production & industrial operations and minimize errors in the final products.
Based on end user, the industrial automation market has been segmented as oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech, mining & metals, food & beverage, power, consumer goods, automotive, machines & tools, semiconductors & electronics, aerospace & defense, and other end users. In 2020, the oil & gas segment accounted for the largest share of the overall market, due to the heavy implementation of industrial automation solutions across upstream, midstream, and downstream processes. Benefits of implementing industrial automation solutions include optimized supply chain and spare parts management, elimination of organizational inefficiencies, and improved workforce deployment. Key players in the industrial automation market have launched their IIoT platforms, such as Honeywell's Sentience, ABB's Ability, Schneider Electric's EcoStruxture, and Siemens's MindSphere to support the digitalization of oil fields.
An in-depth analysis of the geographical scenario of the industrial automation market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2020, Asia-Pacific commanded the largest share of the industrial automation market, followed by Europe, North America, Latin America, and the Middle East & Africa.
The key players operating in the industrial automation market are ABB Group (Switzerland), Rockwell Automation (U.S.), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Schneider Electric (France), Yokogawa Electric Corporation (Japan), KUKA AG (Germany), Emerson Electric (U.S.), Fanuc (Japan), Honeywell International (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), and Fuji Electric Co., Ltd. (Japan).
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Increasing Adoption of Robots in the Manufacturing Sector
4.2.1.2. Government Initiatives to Promote Industrial Development
4.2.1.3. Rising Investments for Transforming Conventional Production Facilities
4.2.1.4. High Labor Cost in North America and Europe
4.2.1.5. Growing Demand for Safe and Digitized Production Processes
4.2.2. Restraints
4.2.2.1. High Initial Investment
4.2.3. Opportunities
4.2.3.1. Growing Number of SMEs
4.2.3.2. Rising Demand for IIoT in Southeast Asia's Manufacturing Sector
4.2.4. Challenges
4.2.4.2. Cyber Risks Associated with Automated Systems
4.3. Value Chain Analysis
4.3.1. Raw Material Providers
4.3.2. Hardware & Software Developers
4.3.3. Plant Instrumentation
4.3.4. Plant-level Controls
4.3.5. Enterprise-level Controls
4.3.6. System Integrators
4.3.7. End Users
4.4. The Impact of COVID-19 on the Industrial Automation Market
4.4.1. Scenario A: Severe Impact
4.4.2. Scenario B: Slow Recovery
4.4.3. Scenario C: Fast Recovery
4.5. Impact of AI and Blockchain on the Industrial Automation Market
4.6. Advent of 5G in Industrial Automation
5. Global Industrial Automation Market, by Component
5.1. Introduction
5.2. Enterprise-level Controls
5.2.1. Product Lifecycle Management (PLM)
5.2.2. Enterprise Resource Planning (ERP)
5.2.3. Manufacturing Execution Systems (MES)
5.3. Plant Instrumentation
5.3.1. Motors & Drives
5.3.2. Robots
5.3.2.1. Articulated Robots
5.3.2.2. SCARA
5.3.2.3. Collaborative Robots
5.3.2.4. Cartesian Robots
5.3.2.5. Other Robots
5.3.3. Sensors
5.3.4. Machine Vision Systems
5.3.4.1. Cameras
5.3.4.2. Optics and LED Lighting
5.3.5. Relays & Switches
5.3.6. Other Plant Instrumentation Components
5.4. Plant-level Controls
5.4.1. Supervisory Control and Data Acquisition (SCADA)
5.4.2. Distributed Control Systems (DCS)
5.4.3. Programmable Logic Controllers (PLC)
5.4.4. Other Plant-level Controls
6. Global Industrial Automation Market, by Mode of Automation
6.1. Introduction
6.2. Semi-automatic Systems
6.3. Fully-automatic Systems
7. Global Industrial Automation Market, by End User
7.1. Introduction
7.2. Oil & Gas
7.2.1. Upstream
7.2.2. Downstream
7.2.3. Midstream
7.3. Automotive
7.4. Food & Beverage
7.4.1. Dairy Processing
7.4.2. Beverages & Distilleries
7.4.3. Bakery & Confectionery
7.4.4. Oils & Fats
7.4.5. Meat, Poultry, and Seafood Products
7.4.6. Fruits & Vegetables
7.4.7. Others
7.5. Semiconductors & Electronics
7.6. Chemicals & Materials
7.7. Consumer Goods
7.8. Mining & Metals
7.9. Power
7.10. Pharmaceuticals & Biotech
7.11. Machines & Tools
7.12. Paper & Pulp
7.13. Aerospace & Defense
7.14. Other End Users
8. Industrial Automation Market, by Geography
8.1. Introduction
8.2. Asia-pacific
8.2.1. China
8.2.2. Japan
8.2.3. India
8.2.4. South Korea
8.2.5. Singapore
8.2.6. Rest of Asia-Pacific (RoAPAC)
8.3. Europe
8.3.1. Germany
8.3.2. U.K.
8.3.3. Italy
8.3.4. The Netherlands
8.3.5. Sweden
8.3.6. France
8.3.7. Spain
8.3.8. Rest of Europe (RoE)
8.4. North America
8.4.1. U.S.
8.4.2. Canada
8.5. Latin America
8.5.1. Brazil
8.5.2. Mexico
8.5.3. Rest of Latin America (RoLATAM)
8.6. Middle East & Africa
8.6.1. South Africa
8.6.2. UAE
8.6.3. Saudi Arabia
8.6.4. Rest of the Middle East & Africa (RoMEA)
9. Competitive Landscape
9.1. Introduction
9.2. Key Growth Strategies
9.3. Market Share Analysis (2020)
9.3.1. Siemens AG
9.3.2. Mitsubishi Electric Corporation
9.3.3. Emerson Electric Co.
9.3.4. ABB Group
9.3.5. Schneider Electric SE
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Siemens AG
10.2. Emerson Electric Co.
10.3. Mitsubishi Electric Corporation
10.4. ABB Group
10.5. Schneider Electric SE
10.6. Rockwell Automation, Inc.
10.7. Yaskawa Electric Corporation
10.8. Yokogawa Electric Corporation
10.9. Fanuc Corporation
10.10. Honeywell International Inc
10.11. Kuka AG
10.12. General Electric Company
10.13. Omron Corporation
10.14. Advantech Co., Ltd.
10.15. Fuji Electric Co., Ltd.
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/yetj4u
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