by The industrial automation and control systems market facilitates control and monitoring of industrial processes to enhance operational efficiency. Industrial automation systems refer to control systems comprising hardware and software components to facilitate the automation of industrial processes such as material handling, assembly line tasks, packaging lines, and more. These systems play a vital role in streamlining activities across various industries ranging from manufacturing to oil & gas. Control systems deploy technologies such as programmable logic controllers, distributed control systems, and supervisory control and data acquisition systems to monitor and manage manufacturing processes with minimum human intervention.
The global Industrial Automation And Control Systems Market is estimated to be valued at Us$ 174.53 Billion in 2024 and is expected to exhibit a CAGR Of 5.4% over the forecast period 2024 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing Adoption of Industry 4.0 Practices (as referred in the heading): The increasing adoption of advanced manufacturing practices revolving around the fourth industrial revolution or ‘Industry 4.0’ is acting as a key driver for the industrial automation and control systems market. Industry 4.0 refers to the transition from centralized and disconnected value chains to decentralized and interconnected value chains enabled by technologies such as the Industrial Internet of Things, cyber-physical systems, cloud computing, cognitive computing, and advanced robotics. These technologies deployed along with industrial automation systems facilitate seamless connectivity between machines, enabling remote monitoring and predictive maintenance.
Rising Focus on Improving Operational Efficiency (one driver): There is a rising focus among various end-use industries on streamlining operations and improving overall equipment effectiveness through industrial automation. Automation solutions help boost production levels, minimize operational downtime, reduce production cycles, and enhance product quality. This has prompted several industries to increasingly adopt industrial automation for optimizing manufacturing processes and boosting productivity through real-time process monitoring and data exchange across plants and machinery.
Segment Analysis
The industrial automation and control systems market is dominated by the DCS (Distributed Control System) sub-segment. DCS systems account for over 40% of the market share as they provide centralized control of automated equipment across large industrial facilities and processes. They are most commonly used in industries such as oil & gas, petrochemicals, power generation, and manufacturing. The key advantage of DCS over other automation solutions is their ability to control thousands of input/output (I/O) connection points across a facility.
PEST Analysis
Political: Trade restrictions and tariffs imposed by countries have impacted the global supply chains of industrial automation equipment. However, government initiatives to promote Industry 4.0 adoption are providing opportunities for market growth.
Economic: The industrial automation industry is strongly tied to the manufacturing sector performance. Global economic recoveries from the pandemic have driven new capital expenditures towards plant automation and expansion projects.
Social: Automation allows industries to improve productivity while reducing risks to human workers from hazardous production environments. However, some jobs are replaced by machines, which needs reskilling of workers.
Technological: Advancements like IoT, AI, edge computing, cloud and cybersecurity solutions are driving greater connectivity and data analytics capabilities of control systems. This enables remote monitoring and predictive maintenance of industrial assets.
Key Takeaways
The Global Industrial Automation And Control Systems Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global industrial automation and control systems market is estimated to be valued at US$ 174.53 billion in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2030.
Regional analysis indicates North America to be the dominant regional market currently with over 30% market share due to wide automation adoption across all major process and discrete industries. The growing presence of factory automation vendors and availability of skilled workforce provide competitive advantages to the region.
Key players operating in the industrial automation and control systems market are Honeywell, ABB, Emerson Electric, Siemens, Rockwell Automation, General Electric, Omron, Yokogawa Electric, Schlumberger, and Mitsubishi Electric. These players are focusing on developing innovative industry-specific solutions and providing global service capabilities to multinational clientele. Partnerships with startups are helping large automation companies to enhance their offerings with emerging technologies.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
