Industrial Automation and Control Systems Industry Overview
The global industrial automation and control systems market size is expected to reach USD 288.93 billion by 2028, registering a CAGR of 8.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. The proliferation of digitized industrial solutions is paving the way for the growth of the industry globally. Manufacturing and healthcare facilities are heavily investing in the deployment of automation technologies to streamline and simplify their everyday operations. The discovery of new crude oil reserves and growing need for enhanced security and safety standards in oil refineries are driving the demand for Distributed Control System (DCS) in the oil and gas industry. Additionally, the manufacturing and water and wastewater industries are widely adopting SCADA systems owing to their benefits, such as scalability and reliability.
Industrial Automation and Control Systems Market Segmentation
Grand View Research has segmented the global industrial automation and control systems market based on component, control system, vertical, and region:
Based on the Component Insights, the market is segmented into HMI, Industrial Robots, Control Valves, Sensors, Others.
- The control valves segment dominated the market in 2020, accounting for over 24% of the total revenue share, and is expected to maintain its dominance over the forecast period. Control valve automation has witnessed significant advancements over the past few years.
- While the overall structure of the component remains largely unchanged, solution providers are focused on automating and achieving precise positioning of these instruments.
- Over the past decade, developments such as the introduction of smart and digital valve positioners with internal capabilities for diagnostics and alarm status, among others, have outpaced the performance of conventional mechanical systems.
- The industrial robots segment is expected to exhibit the highest CAGR of over 11% from 2021 to 2028. The growth can be attributed to a substantial increase in the adoption of robots for carrying out automation processes. Robotic industrial automation is transforming the face of production processes, with manufacturers across the globe progressively implementing robots to enhance the efficiency and safety of their operations.
Based on the Vertical Insights, the market is segmented into Aerospace & Defense, Automotive, Chemical, Energy & Utilities, Food & Beverage, Healthcare, Manufacturing, Mining & Metal, Oil & Gas, Transportation, Others.
- The manufacturing vertical is expected to dominate the industrial automation and control systems market over the forecast period and account for over 17% of the revenue share by 2028.
- The convergence of technology and automation in manufacturing operations is rapidly progressing with manufacturers realizing the value of successful digital transformation. The adoption of automation solutions also facilitates the integration of electric assets and production process information to help enhance sustainability across the entire manufacturing plant lifecycle.
- The healthcare segment is poised to record the highest CAGR of nearly 10% from 2021 to 2028. Automation helps healthcare workers and hospitals to track patient records and share them across multiple systems, along with analyzing key checkpoints to reach a better conclusion.
- In addition, it improves the overall data management, care services, and operational tasks and reduces the risk of errors. The adoption of automation also benefits the healthcare industry by providing advanced healthcare business intelligence solutions for maintaining a better revenue cycle.
Based on the Control System Insights, the market is segmented into DCS, PLC, SCADA, Others.
- The Distributed Control System (DCS) segment dominated the market and captured over 34% of the total revenue share in 2020. The segment is expected to continue dominating the market over the forecast period.
- DCS helps to centralize operations and provides flexibility by enabling central control, reporting, and monitoring of individual components. Benefits such as scalability, easy and convenient installation, and automatic updates are leading to the increased demand for DCS.
- Moreover, the growing industrialization across the globe, especially in developing nations of Asia Pacific and the Middle East, has also led to the accelerated demand for DCS.
- SCADA is expected to exhibit the highest CAGR of 10% from 2021 to 2028. The growth can be attributed to the increasing acceptance of SCADA control systems across numerous end-use industries, including oil and gas, manufacturing, utilities, and wastewater.
Industrial Automation and Control Systems Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Market incumbents are implementing aggressive strategies such as joint ventures, technology collaborations, and mergers and acquisitions to expand their outreach. Additionally, key market participants are expected to focus on cost reduction, thereby making entry into the market difficult for new entrants.
Some prominent players in the global industrial automation and control systems market include
- ABB
- Emerson Electric Co.
- Rockwell Automation, Inc.
- Schneider Electric
- Siemens AG
- Honeywell International, Inc.
Order a free sample PDF of the Industrial Automation and Control Systems Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
0
