Industrial Automation Control Market size is set to grow by USD 28.3 billion from 2024-2028, Need for simplification of complex manufacturing activities to boost the market growth, Technavio

NEW YORK, June 25, 2024 /PRNewswire/ -- The global industrial automation control market  size is estimated to grow by USD 28.3 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 3.91%  during the forecast period.  Need for simplification of complex manufacturing activities is driving market growth, with a trend towards increasing need for open platform architecture for automation software. However, exposure to cybersecurity threats  poses a challenge. Key market players include ABB Ltd., Beckhoff Automation GmbH and Co. KG, Bosch Rexroth AG, Eaton Corp. Plc, Electrical4U, Emerson Electric Co., Endress Hauser Group Services AG, Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Industrial Automation Control, Keyence India Pvt. Ltd., Novo Nordisk AS, OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp..

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Key Market Trends Fueling Growth

Industrial automation control market is witnessing significant growth due to the adoption of open platform architecture for automation software. This architecture enables users to customize software functionality, import third-party tools, and choose runtime platforms. Major vendors, such as Siemens and Emerson Electric, offer open-source SCADA systems, providing operational efficiency and cost savings. The flexibility of open architecture drives market growth by allowing vendors to differentiate applications and penetrate the market. 

The Industrial Automation Control market is experiencing significant growth, driven by advancements in technology. Efficiency and productivity are key priorities for businesses, leading to increased adoption of automation systems. The use of artificial intelligence and machine learning is trending, enabling predictive maintenance and real-time monitoring. Robots and torque sensors are becoming commonplace in manufacturing processes. The shift towards sustainable energy is also influencing the market, with smart grids and energy management systems gaining traction. The integration of IT and OT systems is another trend, allowing for remote monitoring and control. Overall, the Industrial Automation Control market is evolving to meet the demands of modern industry. 

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Market Challenges

• The industrial automation control market faces growing cybersecurity challenges as automated systems become more susceptible to attacks. In industries like oil and gas, power, and water and wastewater, data breaches can disrupt operations and lead to unethical use or alteration of data. Smart grids and SCADA systems in the power industry are particularly vulnerable, with potential financial or intellectual gains for cybercriminals. Network vulnerabilities can compromise entire systems, and the constantly evolving nature of cyberattacks poses a significant risk to market growth during the forecast period.
• The Industrial Automation Control market faces several challenges in today's dynamic business environment. Skills shortage is a major concern, as the industry requires a workforce with advanced technical knowledge. Costs are another challenge, as automation systems can be expensive to implement and maintain. Security is also a significant issue, as cyber threats continue to evolve and become more sophisticated. Additionally, the need for interoperability between different systems and technologies is growing, making it essential for companies to adopt open standards and protocols. Lastly, the rapid pace of technological advancements requires continuous learning and adaptation to stay competitive.

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Segment Overview 

This industrial automation control market report extensively covers market segmentation by

1. Product 
• 1.1 Sensors
• 1.2 Drives
• 1.3 DCS
• 1.4 SCADA
• 1.5 PLC
2. End-user 
• 2.1 Process industry
• 2.2 Discrete industry
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Sensors-  Industrial automation relies heavily on sensors to measure and monitor critical process variables such as temperature, pressure, flow, and current. These sensors, which come in various types including flow, temperature, pressure, gas, proximity, level, position, bio, velocity, and vibration sensors, are essential for advanced control and automation in industries. The global sensors market has experienced significant growth due to the increasing use of industrial wireless sensors in process applications and the implementation of the Industrial Internet of Things (IIoT). This trend is expected to continue, as sensors play a crucial role in ensuring process variables remain at optimal levels and enabling industrial growth.

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Research Analysis

The Industrial Automation Control Market is experiencing significant growth due to the integration of advanced technologies such as IoT, AI, and robotics in the industrial sector. The implementation of these technologies in industrial automation systems, including SCADA, PLC, DCS, and cyber-physical systems, is revolutionizing the industry. The use of HMI, industrial sensors, and semiconductor chips in these systems is enabling cost reduction, improved quality, and enhanced operator safety on the factory floor. The adoption of augmented networking architectures and cloud computing is facilitating real-time data analysis and remote monitoring, further boosting market growth. The principles of industrial automation are being upgraded through continuous innovation, making the industry a key driver of digital transformation in various sectors, including healthcare with applications in GE Healthcare and beyond.

Market Research Overview

The Industrial Automation Control Market encompasses innovative technologies and solutions designed to manage, monitor, and optimize industrial processes. These systems enable efficient production, reduce human error, and enhance safety. Key components include Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Human-Machine Interfaces (HMIs), and Sensors. Real-time control, predictive maintenance, and integration with cloud technologies are driving market growth. Additionally, the increasing adoption of Industry 4.0 and the Internet of Things (IoT) is fueling demand for advanced automation solutions. The market is expected to continue expanding due to the need for increased productivity and cost savings in various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Sensors
• Drives
• DCS
• SCADA
• PLC
• End-user
• Process Industry
• Discrete Industry
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 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 market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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