Industrial Automation Market Size, Share, and Trends 2024 to 2034

Industrial Automation Market Size and Growth 

The global industrial automation market size was USD 213.53 billion in 2023, accounted for USD 233.81 billion in 2024, and is expected to reach around USD 529.16 billion by 2033, expanding at a CAGR of 9.5% from 2024 to 2033.

Industrial Automation Market Key Takeaway

• Asia Pacific region has recorded a revenue share of over 38.14% in 2023.
• North America is expected to grow at a significant CAGR from 2024 to 2033.
• By component, the industrial robots segment is growing at a CAGR of 12% from 2024 to 2033.
• The sensors component type segment has held a revenue share of 23% in 2023.
• By control system, the distributed control systems (DCS) segment accounted revenue share of around 35% in 2023.
• The SCADA control system segment is growing at a CAGR of 10.2%.
• The manufacturing vertical segment has captured an 18% revenue share in 2023.

Asia Pacific Industrial Automation Market Size and Growth 2024 to 2033

The Asia Pacific industrial automation market size was estimated at USD 81.43 billion in 2023 and is predicted to be worth around USD 209.02 billion by 2033, at a CAGR of 9.9% from 2024 to 2033.

The Middle East Africa, Saudi Arabia with highest development with increased research and development in industrial automation during the forecast period. Increased utilization of software with asset developments with increased internet of things in industrial automation with continuously developing technology driving the market growth with new automation technology. Other regions with in process for developing the market growth includes North America, Europe, Latin America, Asia Pacific with increased demands for automation technology with increased communication and enhance controlling system with increased efficiency.

Market Overview

Real-time data analysis with increased demand and acceptance from the consumers with increased acquisition of the latest developed technologies in industrial automation with increased results and increased workflow, enhance proactive maintenance. This helps to get visibility during the manufacturing plant with increased efficiency. The increased flow of work with increased production and converting the raw material into the product. Automation involves reducing interference of the human with the manufacturing process. Less intervention of human while manufacturing the products which are in bulk. Improved number of types of equipment for processing the product with increased control over the machines. Machines such as boilers, steam jacketed vessel, heating oven (dryers) stabilizing ships, steering and others. Increased automation in households with wide applications controlling boiler.

Automation is also seen in banking section to reduce complications in algorithms by using simple developed technology of on and off. Increased performance by reducing the human intervention increased utilization of computer with software embedded system, robotics involved, improved control system with developed on and off technology. The outbreak of Covid-19 with the negative impact on the market with the imposed rules and regulations from the government led to lock down across various regions with wide spread of corona virus affected the market value of industrial automation market with reduced requirements from the market for the automated technology and decreased the market size of industrial automation during the forecast period.

Impact of post covid-19 situation largely developed the internet of things with increased requirements over the internet and easy work flow with high efficiency drives the market of industrial automation during the forecast period.

Industrial Automation Market Growth Factors

Industrial automation with wide developments with new technologies and reduced the contact of human with the manufacturing process with real time data analysis. Increased efficiency, work flow, productivity by control system management. Enhance quality of the product, increase demand for the automation with new technologies with high reliability and manufacturing. Increased performance with a smaller number of labour workers, increased efficiency, reduced hard work for the labours, enhance production, Increased automation in industries labour work is replaced with machines work.

Consistent work flow with increased manufacturing and production and fulfill the market demands. higher accuracy and precision, enhance quality of the product. Which is the major factor with wide developments in automation technology. Increased research and development with continuous new research in industrial automation and enhance the productivity with increased quality of the product and increased maintenance of the machine developing new equipments and machines.

The key market players play the major role in industrial automation market with developing new innovations and technologies based on machines and increased internet of things with embedded software system easy transmission of work and managing the work flow over the computer over the developed software with increased investment by the key market players for new innovations and expansion of the industrial automation market during the forecast period.

Impact of covid-19 affected the market with negative impact on the market size. Pandemic situation with increased internet of things with high connectivity and managing the workflow easily without any hard work for labour with reduced manpower boost the market of industrial automation during the forecast period.

Industrial Automation Market Scope

Industrial Automation Market Dynamics

Key Market Drivers

• Enhance real time data analysis and predictive maintenance - Rapid advance developments in manufacturing and producing new technology in industries with increased competition of the available technologies. Increased manufacturing in oil and gas industries, food & beverages, automobile industry, aerospace defense industry with increased solution with real data analysis and increased management of the maintenance. Increased visibility, increased maintenance of the manufacturing equipments with high efficiency. Developed automation technologies for manufacturing for increasing the plant with high efficiency with real time analysis and involve multiple operations during manufacturing. Which supports to grow the market of industrial operational during the forecast period.
• Monitoring of the industrial automation technology such as temperature, current, voltage, speed, vibration and location. Increased maintenance of the equipment developed asset management software with newly developed solutions for the manufacturing which allows for higher efficiency with increased automation.
• Increased internet of things with developed software and technology and increased connectivity. Increased work flow management, easy transmission of work over the software. Increased consistency of the performance, Increased quality of the work without human intervention, higher predictability with improved maintenance, reduced labour work and cost, improved accuracy and precision.

Key Market Challenges 

• Increased cost - Industrial automation with developed technologies with advance features developed. Increased installation of industrial automation with increased equipments led to increase cost of the automation technology may hamper the market growth of industrial automation during the forecast period.
• Lack of skill - Lack of skill regarding newly developed technologies in industrial automation. Improved technologies in machines and euipments and increased software system embedded requires thorough knowledge with completer information for performing the task. Lack of developed skill may alter the market growth of industrial automation 
• Lack of standardised procedures- Lack of protocols for communicating with the devices and the technologies and system integrated in to the devices no protocols and management with increased complications and utilization of own method may hinder the market growth during the forecast period. Which results in lack of communication with other devices.

Key Market Opportunities

• Industrial automation involves numerous methods for the development of the technologies which may be hazardous to the humans during manufacturing of the products if any error take place. Increased safety management in automation technology to avoid such accidents, safety measures involved in industrial automation reduce the accidents.
• Early detection of the problems in machines during the process of manufacturing and increased solution on the malfunctions over the machine and system. Enhanced safety measures are imposed by the government for the machineries with international safety standards. Safety rules imposed by the International Electrotechnical Commission and International Standard Organization.
• Increased safety of the machineries and the humans with enhance quality of the product. Good output and increased performance in the industrial automation helps to boost the market growth during the forecast period.

Deployment Type

On the basis of deployment type, industrial sensor with the largest market revenue share from the year 2024 to 2033. Sensor segment drives the market growth with increased utilization of sensor in newly developed automation technology and increased demands from the consumer for the industrial sensor with enhance developments. Rapid acceptance of the sensors used in manufacturing companies in machineries involved for processing with improved network connectivity which helps to enhance the wireless sensors involves in internet of things over the software. It involves saving the data with utilizing the sensors real time data analysis.

In maintenance sensors are the major components with improved solutions which helps to extend the market growth during the forecast period. Enhance options of sensors involved increased facilitating, improved communications. Which offers the lucrative growth of sensors in industrial automation.

Components Insight

The plant asset management a software with the highest growth with increased market value. Intelligence integrated in to the Plant Asset Management software with increased measurements and giving accurate data regarding assets that is software in to the manufacturing plant. Utilization of plant asset management is increasing with improvement for making the decisions, monitoring the conditions during manufacturing and early detection of the problem to avoid any mistakes in manufacturing. Which improves the quality of the technology and enahance data management. Which also helps to reduce waste material, with increased production with early detection of the problem with the system software with enhance connectivity.

Increased utilization of the plant asset management in other industries such as food and beverages, oil and gas industry, automobile industry with technological developments involved in industries with increased data collection for further access. Integration of the plant asset management with decreased rates of the software and increased operation involved. Which helps to boost the performance with increased market growth during the forecast period.

End-Use Industry

On the basis of end use industry, mining and metal industry to be the largest with increased market revenue share. It involves extraction of metals and minerals. Increased production with industrial automation, with high safety, reliability, decreased cost.

Industrial Automation Market Companies

• ABB
• Emerson Electric Co.
• Fanuc
• General Electric 
• Honeywell International
• Mitsubihi Electric
• Rockwell Automation
• Schneider Electric 
• Siemens
• Yokogawa Electric
• Omron Corporation

Recent Developments

• In the year 2021 February, ABB introduced cobots portfolio in GoFa and SWIFTI cobots. Cobots allow with high capacity and help the robots for the movements.
• In the year 2020 November, Rockwell automation launched the new version developed in asset management software i.e Factory Talk Asset Centre Software. The newly developed software helps to easily work flow and management and development of the new devices.
• In the year 2020 October, Yokogawa Electric Corporation introduced Plant Resource Manager (PRM) with developed version of the software. Software of Asset Management and Integrity detecting the conditions of the plant and increased management of the data of manufacturing equipment involved and instruments involved.

Segments Covered in the Report

By Deployment Type

• Industrial Robots
• Process Analyzer
• Machine Vision System
• Human Machine Interface
• Field Instruments
• Industrial Sensors
• Industrial 3D Printing
• Industrial PC
• Vibration Monitoring

By Component

• Plant asset management
• Manufacturing execution system
• Industrial safety
• Programmable logic controller
• Distributed control system
• Supervisory control and data acquisition

By End-Use Industry

• Automotive
• Metals & mining
• Water & Wastewater treatment
• Electronic & Semiconductors
• Energy & power
• Machine Manufacturing 
• Food & beverages 
• Pharmaceuticals & medical devices
• Chemicals
• Oil & gas
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)