Companies Profiled in the Market: ABB Ltd. (Zürich, Switzerland), Emerson Electric Co. (Missouri, U.S.), General Electric Company (Massachusetts, U.S.), Honeywell International Inc. (North Carolina,U.S.), Mitsubishi Electric Corporation (Tokyo, Japan), Omron Corporation (Kyoto, Japan), Rockwell Automation Inc. (Wisconsin,U.S.), Schneider Electric SE (Rueil-Malmaison, France), Siemens AG (Munich, Germany), Yokogawa Electric Corporation
Pune, India, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The global industrial automation market size is expected to gain momentum by reaching USD 355.44 billion by 2028 while exhibiting a CAGR of 9.2% between 2021 to 2028. In its report titled “Industrial Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware (Sensors; PLC; HMI; Servo; Motor; Drive; Laser Markers; Safety Light Curtain; Robots), and Software), By Industry (Discrete Industry (Automotive; Electronics; Heavy Manufacturing; Packaging), and Process Industry (Oil & Gas; Chemicals; Pulp & Paper; Mining and Metals; Health Care), and Regional Forecast, 2021-2028”.Fortune Business Insights mentions that the market stood at USD 179.74 billion in 2020.
Request to Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/industrial-automation-market-101589
With the advent of 5G wireless technology the demand for automation solutions across industries has increased dramatically. Moreover, due demand for Augmented Reality (AR), Digital Twin, and Industrial IoT is further boosting the market growth. Moreover, amid pandemic the purchasing manager index (PMI) indicated a decline in the manufacturing industry.
The outbreak of the coronavirus has affected the global economy adversely. The outbreak of the coronavirus is hastening the introduction of the fourth industrial revolution (Industry 4.0), propelling businesses across sectors to a higher level of internet of things (IoT) technology and workflow In March 2020, the European Commission proposed a temporary framework that promoted the growth of advanced industry 4.0 solutions among small and medium-sized businesses.
List of Key Players Profiled in the Report
ABB Ltd. (Zürich, Switzerland)
Emerson Electric Co. (Missouri, U.S.)
General Electric Company (Massachusetts, U.S.)
Honeywell International Inc. (North Carolina,U.S.)
Mitsubishi Electric Corporation (Tokyo, Japan)
Omron Corporation (Kyoto, Japan)
Rockwell Automation Inc. (Wisconsin,U.S.)
Schneider Electric SE (Rueil-Malmaison, France)
Siemens AG (Munich, Germany)
Yokogawa Electric Corporation (Tokyo, Japan)
By component, the market is segmented into hardware, and software. By industry, the market is segmented into discrete industry, and process industry.
Lastly, in terms of geography, the market is divided into North America, Europe, South America Asia Pacific, and the Middle East & Africa.
What does the Report Provide?
The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints which are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.
Click here to get the short-term and long-term impact of COVID-19 on this Market. Please visit:
Report Scope and Segmentation:
2021 to 2028
Forecast Period 2021 to 2028 CAGR
2028 Value Projectio4n
USD 355.44 Billion
Market Size in 2020
USD 179.74 Billion
Historical Data for
2017 to 2019
No. of Pages
By Component, By Industry, By Geography, By Region.
Fourth Industrial Revolution to Embrace Partnerships and Collaborations in Global Market
Market Players Taking Active Initiative to Mitigate the Impact of Pandemic COVID-19 on Businesses
Increasing Implementation of Digital Twins and AR Technology in Manufacturing to Favor the Market Growth
Pitfalls & Challenges
High Initial Capital Investments to Impede Market Growth
Fourth Industrial Revolution to Drive Market Growth
With the increasing technology evolution, techno-savvy companies are coming up with new advanced technologies. For instance, in February 2020, Honeywell International Inc. and Tech Mahindra Limited made a partnership to come up with “Factories of the Future”. With this collaboration company aims, to accelerate the digital transformation journey by empowering manufacturers. Similarly, Siemens collaborated with SAP SE to offer industry4.0-enabled business processes to enterprises. These processes will allow building a digital thread for the complete product lifecycle, and such strategies are expected to drive the industrial automation market growth.
Europe to Dominate Backed by Presence Highest Number of Robot Density
Europe is expected to remain at the forefront and hold the largest position in the market during the forecast period because, in European region, in Jan 2021, the International Federation of Robotics (IFR) report mentioned that the Western Europe has 225 automated units per 10,000 employees and Nordic European Countries had 204 automated units per 10,000 employees, which is a maximum robot density worldwide. The region’s market stood at USD 57.85 billion in 2020.
North America is expected to showcase significant industrial automation market share in upcoming years, owing to the presence of advanced production and manufacturing capabilities by manufacturers in the region.
Key Players to Focus on Acquisitions to Strengthen their Market Prospects
The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:
June 2021- Rockwell Automation Inc. announced the acquisition of Plex Systems for USD 2.22 billion. Through this acquisition the company aims to expand industrial cloud offerings with Plex Systems’.
Quick Buy - Industrial Automation Market: https://www.fortunebusinessinsights.com/checkout-page/101589
Table of Content:
Definition, By Segment
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Industrial Automation Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Key Details (Subjected to data availability in public domain and/or on paid databases)
Past and Current Revenue
Business Segment Share
Annexure / Appendix
Global Industrial Automation Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
By Component (USD)
Safety Light Curtain
By Industry (USD)
Oil & Gas
Pulp & Paper
Mining & Metals
By Region (USD)
Middle East & Africa
Have a Look at Related Research Insights:
Robotic Process Automation Market Size, Share & COVID-19 Impact Analysis, By Deployment (On-Premises, Cloud), By Operation (Rule-Based, Knowledge-Based), By Application (Administration and reporting, Customer Support, Data Migration & Capture Extraction, Analysis, Others), By Industry (Retail, Manufacturing and Logistics Industry, BFSI, Healthcare, IT and Telecom, Hospitality, Others) and Regional Forecasts, 2021-2028
Online Gambling Software Market Size, Share & COVID-19 Impact Analysis, By Type (Sports Betting, Casinos, Poker, Lottery, Bingo, and Others), By Devices (Desktop, Mobile, and Others), and Regional Forecast, 2021-2028
Cryptocurrency Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, and Others), By End-Use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2021-2028
Smart Parcel Locker Market Size, Share & COVID-19 Impact Analysis, By Type (Modular Parcel Locker, Cooling Lockers for Fresh Food, Postal Lockers, and Laundry Lockers), By Deployment (Indoor and Outdoor), By Application (Commercial Buildings, Condos and Apartments, Retail BOPIS, Universities & Colleges, and Others), and Regional Forecast, 2021-2028
Unified Communication as a Service (UCaaS) Market Size, Share & COVID-19 Impact Analysis, By Component (Telephony, Unified Messaging, Collaboration Platforms), By Delivery Model (Managed Services, and Hosted/ Cloud Services), By Organization Size (Large Enterprises, SME’s), By Vertical (BFSI, IT and Telecommunications, IT-enabled Services (ITeS), Education, Retail and Consumer Goods), and Regional Forecast, 2021 – 2028
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245