According to the new research report on "Industrial Automation Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," published by The Insight Partners, the market is expected to reach US$ 322.67 billion by 2030 and register a CAGR of 8.2% from 2022 to 2030.

North America is the most technologically advanced region across the globe due to the presence of a well-established technology ecosystem, the high acceptance rate of advanced technologies, favorable economic policies, and high gross domestic product (GDP) of the US, Canada, and other countries.

Technological advancements are increasing the competitiveness among the markets in North America. Hence, the region is considered a hub for manufacturing high-quality industrial and consumer products. To fulfill the increasing customer demand for high-quality products as well as services, companies are continuously focusing on innovation and automation. A few manufacturers in the region are highly focused on using automation and other advanced technologies to improve production quality and optimize the overall manufacturing process.

Automotive, food & beverages, chemicals & materials, and aviation are among the key end-use industries that involve automation in their operations. Automation provides consistency and helps in protecting the brand's reputation as they make the production convenient and effortless. Also, automation improves the quality through systematic product management and decreases the risk of food and beverage recalls. The food industry in the US is valued at over US$ 500 billion, which includes the processing of food from raw materials to finished products. In the US, many food and beverage processing companies, such as Tyson Foods and Hormel Foods, are increasingly adopting automated technologies.

In Canada, automatic control or automation in logistics refers to the use of control systems, software, and machinery to improve the efficiency of operations. Various errors can be detected in manual data entry, which can lead to increased shipping costs. Automation helps in reducing such errors. With the rise in automation, the logistics & supply chain technology (LSCT) sector in the country is likely to witness lucrative growth in the coming years. This will fuel the industrial automation market growth.

The US is one of the largest producers of chemical products all over the world. Including the pharmaceutical sector, the country’s chemical shipment value was around US$ 719 billion in 2020. Aviation industry is another big industry that is projected to grow rapidly in the country. According to Federal Aviation Administration (FAA), Air Traffic Control Tower at Charlotte Douglas International Airport (CLT) recorded that the airport handled approximately 500,000 flights in 2018 and anticipated that the count will grow up to 745,000 flights in the next 15 years. As per the Department of Commerce projections, the US is expected to welcome 95.5 billion international visitors annually by the end of 2023 (nearly twice the count of 2000). Consistently rising count of international tourists leads to the need for expansion of airports. Thus, the growing aviation sector and the enhancing chemical industry drive the industrial automation market in the US.

The industrial automation market is segmented into component, system, end user, and geography. Based on component, the industrial automation market is segmented into hardware and software. Based on system, the industrial automation market is segmented into supervisory control and data acquisition, distributed control system, programmable logic control, and other. Based on end user, the industrial automation market is segmented into oil & gas, automotive, food & beverage, chemical & materials, aerospace & defense, and others.

Key Findings of Study:

In the global industrial automation market size, APAC held the largest market share in 2022, followed by Europe and North America. The Europe industrial automation market is growing at a decent rate year-over-year. The key reason for the growth of the industrial automation market is the presence of a large number of market players in the region. The market players present in the region include ABB Ltd, Siemens AG, and Bosch Rexroth AG. Also, the growing installation of industrial robots to increase productivity in automobiles, chemicals, food & beverages, mechanical engineering, and electronics sectors is fueling the market growth. In addition, government investments in the digitization of manufacturing industries are propelling the industrial automation market growth. 

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com