NEW
YORK, June 25, 2024 /PRNewswire/ -- The global
industrial automation control market size is estimated
to grow by USD 28.3 bn from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 3.91% during the forecast
period. Need for simplification of complex manufacturing
activities is driving market growth, with a trend
towards increasing need for open platform architecture for
automation software. However, exposure to cybersecurity
threats poses a challenge. Key market players include ABB
Ltd., Beckhoff Automation GmbH and Co. KG, Bosch Rexroth AG, Eaton
Corp. Plc, Electrical4U, Emerson Electric Co., Endress Hauser Group
Services AG, Fuji Electric Co. Ltd., General Electric Co., Hitachi
Ltd., Honeywell International Inc., Industrial Automation Control,
Keyence India Pvt. Ltd., Novo Nordisk AS, OMRON Corp., Rockwell
Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp.,
and Yokogawa Electric Corp..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Sensors,
Drives, DCS, SCADA, and PLC), End-user (Process industry and
Discrete industry), and Geography (APAC, North America, Europe,
South America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
ABB Ltd., Beckhoff
Automation GmbH and Co. KG, Bosch Rexroth AG, Eaton Corp. Plc,
Electrical4U, Emerson Electric Co., Endress Hauser Group Services
AG, Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd.,
Honeywell International Inc., Industrial Automation Control,
Keyence India Pvt. Ltd., Novo Nordisk AS, OMRON Corp., Rockwell
Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp.,
and Yokogawa Electric Corp.
|
Key Market Trends Fueling Growth
Industrial automation control market is witnessing significant
growth due to the adoption of open platform architecture for
automation software. This architecture enables users to customize
software functionality, import third-party tools, and choose
runtime platforms. Major vendors, such as Siemens and Emerson
Electric, offer open-source SCADA systems, providing operational
efficiency and cost savings. The flexibility of open architecture
drives market growth by allowing vendors to differentiate
applications and penetrate the market.
The Industrial Automation Control market is experiencing
significant growth, driven by advancements in technology.
Efficiency and productivity are key priorities for businesses,
leading to increased adoption of automation systems. The use of
artificial intelligence and machine learning is trending, enabling
predictive maintenance and real-time monitoring. Robots and torque
sensors are becoming commonplace in manufacturing processes. The
shift towards sustainable energy is also influencing the market,
with smart grids and energy management systems gaining traction.
The integration of IT and OT systems is another trend, allowing for
remote monitoring and control. Overall, the Industrial Automation
Control market is evolving to meet the demands of modern
industry.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The industrial automation control market faces growing
cybersecurity challenges as automated systems become more
susceptible to attacks. In industries like oil and gas, power, and
water and wastewater, data breaches can disrupt operations and lead
to unethical use or alteration of data. Smart grids and SCADA
systems in the power industry are particularly vulnerable, with
potential financial or intellectual gains for cybercriminals.
Network vulnerabilities can compromise entire systems, and the
constantly evolving nature of cyberattacks poses a significant risk
to market growth during the forecast period.
- The Industrial Automation Control market faces several
challenges in today's dynamic business environment. Skills shortage
is a major concern, as the industry requires a workforce with
advanced technical knowledge. Costs are another challenge, as
automation systems can be expensive to implement and maintain.
Security is also a significant issue, as cyber threats continue to
evolve and become more sophisticated. Additionally, the need for
interoperability between different systems and technologies is
growing, making it essential for companies to adopt open standards
and protocols. Lastly, the rapid pace of technological advancements
requires continuous learning and adaptation to stay
competitive.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This industrial automation control market report extensively
covers market segmentation by
- Product
- 1.1 Sensors
- 1.2 Drives
- 1.3 DCS
- 1.4 SCADA
- 1.5 PLC
- End-user
- 2.1 Process industry
- 2.2 Discrete industry
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Sensors- Industrial automation relies heavily
on sensors to measure and monitor critical process variables such
as temperature, pressure, flow, and current. These sensors, which
come in various types including flow, temperature, pressure, gas,
proximity, level, position, bio, velocity, and vibration sensors,
are essential for advanced control and automation in industries.
The global sensors market has experienced significant growth due to
the increasing use of industrial wireless sensors in process
applications and the implementation of the Industrial Internet of
Things (IIoT). This trend is expected to continue, as sensors play
a crucial role in ensuring process variables remain at optimal
levels and enabling industrial growth.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Industrial Automation Control Market is experiencing
significant growth due to the integration of advanced technologies
such as IoT, AI, and robotics in the industrial sector. The
implementation of these technologies in industrial automation
systems, including SCADA, PLC, DCS, and cyber-physical systems, is
revolutionizing the industry. The use of HMI, industrial sensors,
and semiconductor chips in these systems is enabling cost
reduction, improved quality, and enhanced operator safety on the
factory floor. The adoption of augmented networking architectures
and cloud computing is facilitating real-time data analysis and
remote monitoring, further boosting market growth. The principles
of industrial automation are being upgraded through continuous
innovation, making the industry a key driver of digital
transformation in various sectors, including healthcare with
applications in GE Healthcare and beyond.
Market Research Overview
The Industrial Automation Control Market encompasses innovative
technologies and solutions designed to manage, monitor, and
optimize industrial processes. These systems enable efficient
production, reduce human error, and enhance safety. Key components
include Programmable Logic Controllers (PLCs), Distributed Control
Systems (DCS), Human-Machine Interfaces (HMIs), and Sensors.
Real-time control, predictive maintenance, and integration with
cloud technologies are driving market growth. Additionally, the
increasing adoption of Industry 4.0 and the Internet of Things
(IoT) is fueling demand for advanced automation solutions. The
market is expected to continue expanding due to the need for
increased productivity and cost savings in various industries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Sensors
- Drives
- DCS
- SCADA
- PLC
- End-user
-
- Process Industry
- Discrete Industry
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio