Meticulous Research®—a prominent market research company, has published a report titled ‘Industrial Automation Market by Offering (Solutions, Services), Mode of Automation, End-use Industry, and Geography - Global Forecast to 2031.’
The report projects the global industrial automation market to reach $368.05 billion by 2031, with a CAGR of 9.1% from 2024 to 2031. Growth is driven by government initiatives, increased automation investments, demand for energy-efficient systems, and supply chain optimization. However, high CAPEX and workforce displacement concerns are growth restraints. Sustainability demands present growth opportunities, despite cybersecurity challenges.
The market is segmented by offering, mode of automation, and end-use industry, with regional analysis included.
Offerings include solutions and services. The solutions segment is expected to lead and grow the fastest by 2024 due to the adoption of PLM, ERP, and MES solutions and Industry 4.0 technologies.
Automation modes are semi-automatic and fully-automatic systems. The semi-automatic systems segment is expected to dominate in 2024 due to cost efficiency and flexibility, while fully-automatic systems are projected to grow the fastest, driven by production needs and safety enhancements.
End-use industry segments include oil & gas, automotive, and others. The oil & gas sector is expected to dominate in 2024 due to operational streamlining and safety improvements. The automotive sector is projected to grow the fastest, driven by technological advancements and increased use of AGVs and COBOTS.
Regionally, Asia-Pacific is expected to lead and register the highest CAGR by 2024, driven by demand for advanced automation and significant technological investments.
Key Players:
The key players operating in the industrial automation market are ABB Ltd (Switzerland), Rockwell Automation Inc. (U.S.), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), KUKA AG (Germany), Emerson Electric Co. (U.S.), FANUC CORPORATION (Japan), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), Hitachi Ltd. (Japan), and General Electric Company (U.S.).
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Key questions answered in the report-
Which are the high-growth market segments based on offering, mode of operation, end-use industry, and geography?What was the historical market for the industrial automation market?What are the market forecasts and estimates for the period 2024–2031?What are the major drivers, restraints, opportunities, and challenges in the industrial automation market?Who are the major players, and what shares do they hold in the industrial automation market?How is the competitive landscape in the industrial automation market?What are the recent developments in the industrial automation market?What are the different strategies adopted by the major players in the industrial automation market?What are the key geographic trends, and which are the high-growth countries?Who are the local emerging players in the global industrial automation market, and how do they compete with the other players?Contact Us:
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