Industrial Automation Market in Life Sciences to Grow by USD 5.06 Billion from 2024-2028, as Rising Healthcare Demand Boosts Growth with AI Driving Market Transformation - Technavio

NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global industrial automation market in life sciences industry size is estimated to grow by USD 5.06 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  11.4%  during the forecast period. Growing global demand for healthcare services is driving market growth, with a trend towards growing adoption of open-process automation. However, infrastructural and integration issues associated with industrial automation  poses a challenge.Key market players include ABB Ltd., Applied Materials Inc., Aspen Technology Inc., Azbil Corp., Balluff GmbH, Danaher Corp., Dassault Systemes SE, Emerson Electric Co., Endress Hauser Group Services AG, Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., OMRON Corp., Parker Hannifin Corp., Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, Yokogawa Electric Corp., and Festo SE and Co. KG.

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Market Driver

The Industrial Automation Market in the Life Sciences Industry is experiencing significant growth, driven by trends such as IoT, AI, and Industry 4.0. These technologies enable Cyber-physical systems, cloud computing, and digitalization, transforming the way SMEs operate. IoT and IIoT are revolutionizing manufacturing with wireless sensors, Industrial I/O, and motion control. Industry 4.0 also brings advanced capabilities like virtual reality, edge computing, and artificial intelligence. Semiconductor chips power these technologies, with 5G wireless technology providing faster connectivity. Control systems are being turbocharged with Programmable Logic Controllers, servo, and laser markers. Digital transformation continues with human-machine interface, safety light curtains, and robots. Temperature, humidity, and torque sensors are essential components of distributed control systems. The automation sector, including robotics, material handling, and manufacturing, is embracing these trends, with networking architectures and cloud platforms facilitating mobility and connectivity across the industrial sector. The automotive, aerospace, heavy engineering, healthcare, and manufacturing verticals are all benefiting from this digital revolution.

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Market Challenges

• The Industrial Automation Market in the Life Sciences Industry is experiencing significant growth due to the integration of advanced technologies like IoT, AI, augmented reality, and Industry 4.0. These technologies are transforming traditional manufacturing processes, enabling SMEs to compete with larger players through IIoT, wireless sensors, and digitalization. Industrial I/O, motion control, industrial web panels, and industrial monitors are being upgraded with virtual capabilities through cloud engineering and Software-as-a-Service. Challenges such as cyber-physical systems, 5G wireless technology, and digital transformation control systems, Programmable Logic Controllers, and advanced analytics. The use of human-machine interface, sensors, and robotics is increasing in manufacturing, material handling, and networking architectures. Semiconductor chips, servo, AC motor, DC motor, and discrete automation are being integrated with process automation in sectors like automotive, aerospace, heavy engineering, and healthcare. The future of industrial automation lies in the integration of machine learning, temperature sensors, humidity sensors, torque sensors, and distributed control systems with virtual reality, edge computing, and artificial intelligence.
• The life sciences industry faces significant challenges in implementing industrial automation due to infrastructural and integration issues. High-speed Internet is essential for effective implementation, particularly in a cloud-based environment. Connectivity problems, power outages, and slow networks can cause system downtimes, negatively impacting productivity. These challenges are particularly prevalent in developing countries and among small and medium-sized enterprises (SMEs) and startups. Furthermore, healthcare and pharmaceutical companies dealing with diverse tools and systems for handling and managing data may encounter integration difficulties. Addressing these challenges is crucial for the growth of the industrial automation market in the life sciences sector.

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Segment Overview 

This industrial automation market in life sciences industry report extensively covers market segmentation by  

1. Deployment 
• 1.1 Onsite
• 1.2 Decentralised
2. Product 
• 2.1 DCS
• 2.2 SCADA
• 2.3 PLC
• 2.4 MES
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Onsite-  The onsite segment dominates the global industrial automation market in the life sciences industry, accounting for the largest market share. This is primarily due to the enhanced security features offered by onsite deployment. In contrast, cloud-based deployment stores data on multiple servers, making it more vulnerable to security breaches. Large life science organizations, particularly those handling sensitive research data, opt for onsite healthcare information software solutions due to their security measures, including physical access controls and security protocols. However, the onsite segment comes with significant investment requirements. Enterprises must purchase software licenses, maintain IT staff, regularly upgrade software, and install data protection solutions. Additionally, they need to train their employees, which adds to the cost burden. Consequently, smaller and medium-scale organizations in the life sciences industry are increasingly adopting cloud-based healthcare information software solutions to reduce capital investments and operational costs. These factors are expected to influence the growth trajectory of the global industrial automation market in the life sciences industry over the forecast period.

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Research Analysis

The Industrial Automation Market in the Life Sciences Industry is experiencing significant growth due to the integration of advanced technologies such as IoT, AI, and augmented reality. These technologies enable real-time monitoring and analysis of manufacturing processes, improving efficiency and productivity. Semiconductor chips and Industry 4.0 are driving the adoption of cyber-physical systems and IIoT, allowing SMEs to implement smart manufacturing solutions. Wireless sensors and Industrial I/O systems facilitate data collection and transmission, while control systems and programmable logic controllers ensure accurate process control. Turbocharging and 5G wireless technology are revolutionizing industrial sector applications, from manufacturing to material handling and networking architectures. Robotics and artificial intelligence are also playing a crucial role in automating repetitive tasks and enhancing product quality. Cloud computing offers cost-effective storage and processing capabilities, enabling data-driven decision-making. Overall, these technologies are transforming the life sciences industry by increasing flexibility, reducing costs, and improving product quality.

Market Research Overview

The Industrial Automation Market in the Life Sciences Industry is experiencing significant growth due to the integration of advanced technologies such as IoT, AI, and Industry 4.0. These technologies enable the creation of cyber-physical systems, cloud computing, and IIoT, which are transforming traditional manufacturing processes. SMEs in the industry are increasingly adopting wireless sensors, Industrial I/O, motion control, and industrial web panels for digitalization. IoT-enabled devices, such as Programmable Logic Controllers (PLCs), servo systems, and lasers markers, are being integrated with AI and advanced analytics to enhance industrial capabilities. Turbocharging, 5G wireless technology, and digital twin are revolutionizing manufacturing, material handling, and networking architectures. Virtual capabilities, such as cloud engineering, Software-as-a-Service (SaaS), virtual reality, and edge computing, are enabling remote monitoring and control, reducing costs, and increasing efficiency. The integration of machine learning, temperature sensors, humidity sensors, and torque sensors is providing real-time data analysis and predictive maintenance. Industries, including healthcare, automotive, aerospace, heavy engineering, and manufacturing verticals, are embracing digital transformation through the adoption of robotics, automation, and Industry 4.0 technologies. The integration of safety light curtains, robots, photoelectric sensors, laser sensors, inductive sensors, AC motors, DC motors, and discrete automation is enhancing productivity and safety. The use of distributed control systems, 5G wireless technology, and EV charger stations is driving the electrification of industry and transportation. The integration of these technologies is transforming the industrial sector and creating new opportunities for innovation and growth.

Table of Contents:

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

• Deployment
• Onsite
• Decentralised
• Product
• DCS
• SCADA
• PLC
• MES
• Geography
• North America
• Europe
• APAC
• 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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