The global industrial automation market size was USD 214.73 Billion in 2022 and is expected to register a revenue CAGR of 9% over the forecast period, according to the latest report by Reports and Data.
The demand for industrial automation systems is increasing due to various reasons, one of which is the need for real-time monitoring and predictive maintenance to reduce downtime, increase asset utilization, and improve equipment efficiency. Additionally, there is a growing requirement for remote monitoring and control as organizations seek to streamline operations, eliminate the need for on-site personnel, and enhance safety.
With the increasing demand for eco-friendly and energy-efficient solutions, manufacturers are under pressure to create automation systems that optimize energy consumption and minimize waste, particularly in energy-intensive industries and transportation. Furthermore, the growing emphasis on the safety and comfort of workers is driving the development of collaborative robots, also known as "cobots," that can operate in a shared workspace alongside humans.
Additionally, the increasing adoption of digital transformation and Industry 4.0 is driving the usage of industrial automation solutions that can interface with existing systems, provide real-time data analysis, and enable predictive maintenance. As a result, automation systems are becoming more adaptable and scalable to accommodate evolving production requirements. Furthermore, the COVID-19 pandemic has amplified the need for automation solutions that can support resilient and flexible supply chains, remote monitoring and control, and contactless operations. The pandemic has expedited the implementation of automation technologies such as autonomous mobile robots, drones, and telepresence in various industries such as healthcare, retail, and logistics.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/6008
The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Siemens AG, ABB Ltd., Schneider Electric SE, Emerson Electric Co., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Honeywell International Inc., General Electric Company, Omron Corporation, and Yokogawa Electric Corporation.
Inquiry before buying @ https://www.reportsanddata.com/inquiry-before-buying/6008
The global market is further segmented into type and application:
Component Type Outlook (Revenue, USD Billion; 2022 - 2032)
- HMI
- Industrial Robots
- Control Valves
- Sensors
- Others
Control System Outlook (Revenue, USD Billion; 2022 - 2032)
- DCS
- PLC
- SCADA
- Others
Vertical Outlook (Revenue, USD Billion; 2022-2032)
- Aerospace Defence
- Automotive
- Chemical
- Energy Utilities
- Food Beverages
- Healthcare
- Manufacturing
- Mining Metal
- Oil Gas
- Transportation
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/6008
Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.
Explore More Industry Research by Reports and Data:
Thermal Insulation Coating Market @ https://www.globenewswire.com/news-release/2020/10/22/2112393/0/en/Thermal-Insulation-Coating-Market-Size-To-Reach-USD-13-12-Billion-By-2027-Reports-and-Data.html
Biopesticides Market @ https://www.globenewswire.com/news-release/2020/09/01/2087346/0/en/Biopesticides-Market-To-Reach-USD-10-11-Billion-By-2027-Reports-and-Data.html
High-Temperature Coatings Market @ https://www.globenewswire.com/news-release/2020/09/03/2088867/0/en/High-Temperature-Coatings-Market-To-Reach-USD-5-24-Billion-By-2027-Reports-and-Data.html
Corrosion Inhibitor Market @ https://www.globenewswire.com/news-release/2019/03/18/1756527/0/en/Corrosion-Inhibitor-Market-Is-Expected-To-Reach-USD-9-6-Billion-by-2026.html
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
