Industrial Automation Control Market 2022-2027, ABB Ltd., Beckhoff Automation GmbH and Co. KG, and Bosch Rexroth AG are among the top players - Technavio

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Feb 07, 2024, 11:48 ET

NEW YORK, Feb. 7, 2024 /PRNewswire/ -- The industrial automation control market is expected to grow by USD 39.34 billion during 2022-2027, according to Technavio. As per the latest report, the market will progress at a CAGR of 5.46% during the forecast period. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Beckhoff Automation GmbH and Co. KG, Bosch Rexroth AG, Eaton Corp. Plc, Electrical4U, Endress Hauser Group Services AG, Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Industrial Automation Control, Keyence India Pvt. Ltd., NNIT AS, OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, TOSHIBA CORP, Yokogawa Electric Corp., Emerson Electric Co., and Honeywell International Inc. are some of the major market participants.

Technavio has announced its latest market research report titled Global Industrial Automation Control Market 2023-2027

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Industrial Automation Control Market is segmented as below:

Product

Sensors
Drives
DCS
SCADA
PLC

End-user

Process Industry
Discrete Industry

Geography

APAC
North America
Europe
South America
Middle East And Africa

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Industrial Automation Control Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our industrial automation control market report covers the following areas:

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Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

The increasing focus on smart factories drives the growth. Intelligent factories entail a gradual transition from traditional automation to fully interconnected and flexible systems. Additionally, a smart factory is, in essence, a device that links all devices together through the network and can use the information available from each device for learning purposes as well as adapting to new customer demands. The market growth is driven by a range of factors, which include ongoing technological advances, rising complexity in the supply chain, and intensifying competition around the world. Hence, these factors are expected to drive market growth during the forecast period.

APAC is projected to account for 44% of the growth during the forecast period. The growth in the region will be led by countries such as China, Japan, India, Vietnam, South Korea, Malaysia, and Australia. The expansion of operations into the region has increased the pressure on regional food and beverage companies to provide high-quality products. Hence, they focus on food safety and inspection systems. The growth of the food and beverage industry in APAC will attract major companies. Such factors will drive the growth of the market in the region during the forecast period.

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Focus on factory automation and integrating robotics

The Industrial Automation Control industry encompasses a range of automation solutions and control systems, including process automation, PLCs, SCADA systems, and DCS. With a focus on factory automation and integrating robotics in manufacturing, the market is increasingly driven by advancements in industrial IoT technologies. These technologies collectively shape the landscape of industrial control technology, fostering efficiency and innovation in various sectors.

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The industrial automation services market size is estimated to grow at a CAGR of 17.66% between 2022 and 2027 and the size of the market is forecast to increase by USD 74.36 billion.

The substation automation market size is estimated to grow at a CAGR of 6.47% between 2022 and 2027. The market size is forecast to increase by USD 15,173.09 million.

Industrial Automation Control Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist industrial automation control market growth during the next five years
Estimation of the industrial automation control market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the industrial automation control market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of industrial automation control market vendors

Table Of Contents :

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 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 insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

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SOURCE Technavio