Industrial Automation Market Poised for Growth with a Projected CAGR of 10% till 2030

Industrial Automation Market Poised for Growth with a Projected CAGR of 10% till 2030

 

According to Next Move Strategy Consulting, the global Industrial Automation Market, is expected to experience robust growth, reaching USD 363 billion by 2030, with a CAGR of 10% from 2024 to 2030. This market expansion is driven by the increasing demand for automation technologies across multiple industries, particularly manufacturing, automotive, and logistics, which are striving to improve productivity, reduce errors, and streamline operations.

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Technological Advancements Propel Market Growth

Industrial automation integrates various cutting-edge technologies such as robotics, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), and big data analytics. These technologies enable real-time data monitoring, predictive maintenance, and autonomous decision-making, all of which are transforming the manufacturing landscape. The integration of AI and ML into industrial robots is expected to be a game-changer, unlocking significant market growth opportunities and driving the future of automation in industries worldwide.

Rising Demand in Key Sectors

The automotive and food and beverage industries are particularly embracing automation to enhance production processes, efficiency, and product safety. Industrial robots, including cobots (collaborative robots), are becoming increasingly essential in these sectors. For instance, the introduction of NSF-certified robots by Doosan Robotics in the food and beverage industry is revolutionizing food processing and packaging operations.

Moreover, industries such as pharmaceuticals, chemicals, and oil & gas are deploying automation to optimize complex processes and ensure consistent product quality. In the food and beverage industry, the growing need for "autonomation" — automation combined with human intervention for flexibility — is accelerating market growth.

Geographical Insights

Asia-Pacific is set to remain the dominant region in the industrial automation market, driven by the booming automotive and semiconductor industries in countries like China, India, Japan, and South Korea. The International Trade Administration reports that China is the largest vehicle market globally, with projections showing domestic production reaching 35 million vehicles by 2025, further fueling the demand for industrial automation in the region.

In North America, the demand for industrial automation solutions in the water and wastewater sector is growing, driven by the increasing need for efficient water treatment systems. Companies like Schneider Electric are innovating in this space, providing advanced solutions for monitoring water quality and improving resource management.

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Key Market Players

Leading players in the industrial automation market include ABB Ltd., Siemens, Emerson, Rockwell Automation, Honeywell International Inc., Mitsubishi Electric, Schneider Electric, and General Electric Co. These companies are continually innovating and expanding their portfolios through partnerships, mergers, and acquisitions to maintain their market leadership. Notably, Rockwell Automation's recent partnership with Autonox Robotics aims to enhance productivity, efficiency, and safety through advanced robotics solutions.

Challenges and Opportunities

While the market holds immense growth potential, high initial investment costs for automation systems remain a challenge, particularly for small and medium-sized enterprises (SMEs). However, the integration of AI, ML, and IoT presents significant opportunities for companies to reduce costs, improve operational efficiency, and increase competitiveness.

Conclusion

The Industrial Automation Market is poised for remarkable growth in the coming years. Technological advancements, particularly in AI, robotics, and IoT, are expected to continue transforming industries by enhancing efficiency, product quality, and operational agility. As industries increasingly embrace automation, the market is on track to reach USD 363.31 billion by 2030, with Asia-Pacific and North America leading the way. With key players continuing to innovate and expand, the future of industrial automation looks bright.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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