Automation and Control Market Size to Reach USD 1018 billion by 2031, Driven by Surging Demand for Industrial Automation

Automation And Control Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2024 - 2031

AUSTIN, TEXAS, UNITED STATES, April 22, 2024 /EINPresswire.com/ -- Market Size & Industry Scope:

The global Automation and Control Market is poised for exceptional growth, reaching a staggering USD 1018.4 Billion by 2031, according to a recent report by SNS Insider. This remarkable expansion is projected at a compound annual growth rate (CAGR) of 10.8% over the forecast period 2024-2031.

Automation and control systems are the cornerstone of modern manufacturing and utility supply chains. They play a Important role in monitoring, optimizing, and controlling industrial operations, ultimately reducing human intervention and enhancing efficiency. These systems encompass a wide range of technologies, including programmable logic controllers (PLCs), supervisory control and data acquisition (SCADA) systems, and human-machine interfaces (HMIs). By automating various tasks and processes, these systems ensure consistent product quality, increased production volumes, and reduced operational costs.

PLCs, for instance, act as intelligent computers that manage and control machines in factories. They utilize programmed instructions to automate tasks and ensure smooth operation. Their applications extend beyond manufacturing, encompassing lighting, heating, ventilation, and air conditioning (HVAC) systems, safety, and security controls, and more. This versatility positions PLCs as a crucial component across various sectors, including residential, commercial, and industrial applications. The growing adoption of industrial robots in the manufacturing sector is another key driver. These robots address the rising demand for goods in a population-dense world and contribute to increased production efficiency.

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Top Companies Featured in Automation And Control Market Report:

• ABB Group
• Emerson Electric
• General Electric Company
• KUKA
• Rockwell Automation
• Bosch Rexroth
• Fanuc Corporation
• Honeywell International
• SIEMENS AG
• Schneider Electric

Market Analysis:

Continuous advancements in technology and the growing presence of IoT solutions are significantly impacting the market. These advancements allow for greater connectivity, data collection, and real-time process monitoring, further optimizing industrial operations. The integration of edge computing and artificial intelligence (AI) into automation solutions is expected to be a significant growth factor. Edge computing facilitates on-site data processing and analysis, while AI empowers predictive maintenance and real-time optimization. The ever-increasing demand for industrial automation across manufacturing sectors is a major driving force. Stringent government regulations promoting industrial automation and the growing focus on worker safety further contribute to market expansion. The widespread adoption of Industry 4.0 principles, characterized by increased automation and data-driven decision-making, is drive market growth. Automation systems play a central role in Industry 4.0, enabling intelligent manufacturing and connected factories.

Automation And Control Market Segmentation as Follows:

BY PRODUCT
• PAC
• HMI
• DCS
• PLC
• SCADA
• MES

The Distributed Control Systems (DCS) segment held the largest market share due to their comprehensive control capabilities across complex industrial processes. DCS systems are widely used in large-scale operations, such as oil and gas refineries, power plants, and chemical processing facilities.

BY APPLICATION
• Safety & Security
• Lighting
• HVAC
• Others

By Application
The Safety & Security segment dominated the market in 2023. This dominance is attributed to the growing dependance on workplace safety regulations and the increasing need for perimeter security in industrial facilities. Automation and control systems play a important role in ensuring worker safety and preventing accidents.

BY END-USE
• Commercial
• Hospitality
• Retail
• Residential
• Industrial
• Enterprise
• Oil & Gas
• Mining & Metals
• Automotive & Transportation
• Electrical & Electronics
• Manufacturing
• Aerospace & Defense
• Others

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Impact of The Russia-Ukraine war

The war has cast a shadow of uncertainty on the global economy, with potential implications for the automation and control market. The war results in the shortages of critical components and raw materials needed for manufacturing automation systems. The war has caused a operational costs of running automated facilities.

Impact of economic slowdown

The economic slowdown is another concern. A global economic downturn could lead to decreased investments in capital expenditures, potentially decrease the adoption of new automation technologies. The long-term outlook for the market remains positive, as the underlying drivers of automation, such as the need for increased efficiency and productivity, are unlikely to diminish.

Key Regional Developments

- Asia Pacific region dominates the market with holding the largest market share, due to factors such as rapid industrialization in China and India, government initiatives promoting automation, and the presence of a large manufacturing base.
- The North America region is expected to grow with the highest CAGR during the forecast period. This growth is Driven by the presence of established automation giants, high investments in R&D, and a growing emphasis on advanced manufacturing technologies.

Key Takeaways for the Automation and Control Market

• The Market driven by the need for increased efficiency, productivity, and worker safety in industrial operations.
• The adoption of Industry 4.0 principles create huge demand for automation and control solutions that enable intelligent manufacturing and data-driven decision-making.
• North America is poised for significant growth due to its advanced technological infrastructure and focus on R&D.

Recent Developments:

- Hitachi's Strategic Acquisition (August 2022): Hitachi Ltd.'s acquisition of Flexware Innovation Inc. signifies a strategic move to strengthen their presence in the automation and control sector, particularly in areas like MES, SCADA, and automation solutions.
- Rockwell Automation and Cognito's Collaboration (October 2022): This partnership aims to integrate industrial data platforms with automation software, facilitating better connectivity and data analysis for industrial operations. This collaboration paves the way for the development of advanced industrial data hubs, optimizing large-scale operations.

Table of Content – Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Automation And Control Market Segmentation, By Product
9. Automation And Control Market Segmentation, By Application
10. Automation And Control Market Segmentation, By End-Use
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion

Continued….

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