The Australia Industrial Process Automation Market is predicted to reach USD 648 million at a CAGR of 7% by 2030

The Australia Industrial Process Automation Market is predicted to reach USD 648 million at a CAGR of 7% by 2030

 

According to industry analysts at Next Move Strategy Consulting, the Australia Industrial Process Automation Market is predicted to reach USD 648 million at a CAGR of 7% by 2030. This growth is fuelled by the country’s demand for automated systems that improve operational efficiency, safety, and sustainability, especially in the mining industry, which remains a vital component of Australia’s economy.

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Mining Industry’s Demand for Automation Fuels Market Growth

Australia’s mining industry, a major contributor to the national economy, increasingly relies on industrial automation to boost efficiency and operational safety. Automation technologies such as Distributed Control Systems (DCS), PLCs, and HMIs have become essential in ore extraction and processing, streamlining operations and reducing risks. As the global demand for minerals and resources continues to grow, Australia’s mining sector is embracing advanced automation solutions, providing a significant boost to the industrial process automation market.

Research Initiatives Spur Demand for Industrial Automation

Australia’s commitment to research and development is also a driving force for the industrial process automation market. For example, in February 2023, the Innovative Manufacturing Cooperative Research Centre (IMCRC) appointed the Australian Industry Group (Ai Group) to manage the futuremap platform. Designed to support small and medium-sized enterprises (SMEs) in adopting digital transformation, futuremap helps SMEs identify opportunities for automation, enhancing productivity, and operational efficiency. This initiative underscores the Australian government’s and industry’s joint efforts to advance automation capabilities in manufacturing and other sectors.

Challenges of Standardization in the Automation Market

Despite the promising growth trajectory, the lack of standardization poses a challenge for the industrial process automation market in Australia. Proprietary systems often result in vendor lock-in, where companies face limited flexibility to switch vendors, leading to increased costs and reduced innovation. Addressing these standardization issues will be crucial in facilitating broader adoption and fostering a more competitive automation market landscape.

Industry 4.0 Paves the Way for Future Growth

Industry 4.0 advancements, including IoT, AI, and cloud computing, are unlocking new opportunities in the industrial automation market. These technologies enable real-time data collection and analysis, providing businesses with critical insights into operational efficiency and potential improvements. As the industrial landscape evolves, partnerships between established automation companies and technology providers are helping to develop innovative solutions that position Australian industries for continued growth.

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Competitive Landscape

Key players in the Australia industrial process automation market include Siemens AG, Honeywell International, Schneider Electric, Mitsubishi Electric, Rockwell Automation, Emerson Electric Co., ABB Ltd., Omron Corp., Fanuc Corp., and Toshiba Corp., among others. These industry leaders are instrumental in advancing automation technologies and driving sector growth.

Market Segmentation

The Australia industrial process automation market is segmented by component, encompassing Manufacturing Execution Systems, Distributed Control Systems, PLCs, SCADA, field instruments, industrial robots, and process analyzers. Major end-user industries include mining, oil and gas, pharmaceuticals, chemical processing, and food and beverage, highlighting the diverse applications of automation technologies in optimizing production processes.

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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 syndicated, 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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