Pune, India, April 08, 2021 (GLOBE NEWSWIRE) — The world industrial automation market dimension is anticipated to exhibit a CAGR of 8.9% between 2020 and 2027. This is ascribable to the rising adoption of fashionable applied sciences such as industrial web of issues (IIoT) owing to the arrival of Industry 4.0 throughout a number of manufacturing industries globally. Fortune Business Insights, in its newest report, titled “Industrial Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, and Software), By Industry (Discrete Industry, and Process Industry), and Regional Forecast, 2020-2027.”, observes that the market was value USD 168.81 billion in 2019 and is probably going to attain USD 326.14 billion by 2027.
The widespread impact of the worldwide pandemic, COVID-19, has been felt throughout a number of economies which might be going through unprecedented loss. Owing to the lockdown introduced by the federal government businesses to curb the unfold of the novel coronavirus, a number of industries have been on a standstill with zero operational actions. However, a collective effort from the federal government as nicely as the industries is anticipated to carry the financial system again on observe and help in resuming industrial actions.
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Industrial automation is a kind of course of that reduces human intervention by adopting data applied sciences such as synthetic intelligence, web of issues (IoT), and machine studying algorithms to effectively deal with a number of machineries and processes inside the business. There are three varieties of industrial automation such as programmable automation, mounted automation, and versatile automation. It is helpful in enhancing total productiveness in manufacturing industries, and rising personnel security by substituting them with automated techniques in risky setting.
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What does the Report Include?
The market report features a detailed evaluation of the varied market drivers and restraints, alternatives, and challenges that the market will face throughout the projected horizon. Additionally, the report gives complete analysis into the regional developments of the market, affecting the market progress throughout the forecast interval. The report consists of data sourced from the recommendation of professional professionals from the business by our analysis analyst utilizing a number of analysis methodologies for the market. The aggressive panorama provides additional detailed insights into the methods such as product launches, partnerships, merger and acquisition, and collaborations adopted by the businesses to preserve market stronghold between 2019 and 2026.
DRIVING FACTORS
Leveraging Modern Technologies Owing to Advent of Industry 4.0 to Favor Growth
The rise of superior digital industrial applied sciences is dramatically remodeling the commercial situation. Industry 4.0 has helped manufacturing industries enhance productiveness, flexibility, and effectivity in industrial processes at astonishingly diminished operational prices. In addition to this, the commercial revolution is quickly shifting the financial dynamics, fostering industrial progress, and altering the general competitiveness of the businesses. Adoption of superior applied sciences such as industrial web of issues (IIOT) is propelling the businesses to permit subject gadgets to work together and talk with one another with centralized controllers whereas guaranteeing dependable determination making and enabling correct real-time responses. Increasing adoption of fashionable digital applied sciences backed by the Industry 4.0 revolution is anticipated to drive the worldwide industrial automation market throughout the forecast interval.
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REGIONAL INSIGHTS
Europe to Remain Dominant; Increasing Production of Robots to Augur Growth
Among all areas, Europe was value USD 54.30 billion in 2019 and is anticipated to witness appreciable progress by holding the very best world industrial automation market share throughout the forecast interval. This is attributable to the rising manufacturing of robots by native producers. The market in Asia Pacific is anticipated to witness important progress owing to the rising manufacturing of technical elements such as sensors, and microchips, amongst others, in international locations such as China within the area between 2020 and 2027.
COMPETITIVE LANDSCAPE
RockWell Automation Announcing Latest Enhancement for its Digital Technology to Strengthen Position
In June 2020, Rockwell Automation, Inc. in collaboration with PTC, introduced the launch of enhanced options for its FactoryTalk Innovation Suite. According to the corporate, the Suite launched in 2018, has been extremely profitable in serving to the purchasers to obtain appreciable operational effectivity whereas enhancing high quality and decreasing unplanned downtime. The newest enhancement permits the purchasers to preserve real-time information from vital operational sources by adopting superior applied sciences such as information analytics and industrial IoT.
List of the Companies Operating within the Industrial Automation Market:
- ABB Ltd. (Zürich, Switzerland)
- Emerson Electric Co. (Missouri, United States)
- General Electric Company (Massachusetts, United States)
- Honeywell International Inc. (North Carolina, United States)
- Mitsubishi Electric Corporation (Tokyo, Japan)
- Omron Corporation (Kyoto, Japan)
- Rockwell Automation Inc. (Wisconsin, United States)
- Schneider Electric SE (Rueil-Malmaison, France)
- Siemens AG (Munich, Germany)
- Yokogawa Electric Corporation (Tokyo, Japan)
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Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Industrial Automation Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Hardware
- Sensors
- Photoelectric
- Laser
- Inductive
- Others
- PLC
- HMI
- Servo
- Laser Markers
- Safety Light Curtain
- Robots
- Sensors
- Software
- Hardware
- By Industry (Value)
- Discrete Automation
- Automotive
- Electronics
- Heavy Manufacturing
- Packaging
- Others
- Process Automation
- Oil & Gas
- Chemicals
- Pulp & Paper
- Mining and Metals
- Health Care
- Others
- Discrete Automation
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
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