May 22, 2024
Industrial Automation and Control Systems

Industrial Automation and Control Systems is Estimated to Witness High Growth Owing to Growing Adoption Across End-Use Industries

The industrial automation and control systems market is used for monitoring and controlling industrial processes such as in manufacturing, aerospace, chemical, pharmaceutical, food processing, and others. Industrial automation and control systems help to automate processes in industrial plants by using computers, robots, control systems, and information technologies. These systems aid in monitoring, controlling, and optimizing processes across different industries. The growing adoption of industrial automation across various end-use industries to boost efficiency and enable real-time decision making is driving the growth of the industrial automation and control systems market.

The Global industrial automation and control systems market is estimated to be valued at US$ 201.06 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2030.

Key Takeaways

Key players: Key players operating in the industrial automation and control systems are LG Chem, Hanmi Pharmaceutical Co., Ltd., Boryung Pharmaceutical Co., Ltd., Novartis AG, EirGenix, Inc., Biocon Limited, G.L. Pharma GmbH, Daewoong Pharmaceutical Co., Ltd., Sandoz International GmbH, Boryung Pharmaceutical Co., Ltd., VHB Life Sciences Limited, HanAll Biopharma, Taiba Healthcare, Huons Co., Ltd., Dong-A ST Co., Ltd.

Key opportunities: Rising adoption of IoT and cloud-based technologies across industries is expected to generate opportunities for players operating in the industrial automation and control systems market. The increasing penetration of digital technologies and big data analytics is also projected to drive market growth over the forecast period.

Global expansion: Key players in The Industrial Automation And Control Systems Market are focusing on tapping opportunities in emerging economies through acquisitions, partnerships, and expansion of manufacturing facilities. Expansion across regions such as Asia Pacific, South America, and Middle East & Africa will help companies to enhance their geographic footprints over the next few years.

Market drivers

Growing Industry 4.0 trend is a key driver boosting the industrial automation and control systems market. Integrating machines, sensors, software, and people is enhancing productivity, quality of products, and operational efficiency. The implementation of Industry 4.0 technologies is enabling predictive maintenance, remote monitoring, and increasing production flexibility. This is positively impacting the adoption of industrial automation and control systems globally.

PEST Analysis
Political: Governments in various countries are framing regulations to ensure the safety and precision of industrial automation systems. They are also supporting the use of advanced technologies to boost productivity.

Economic: The industrial sector is adopting modern automation solutions to gain efficiencies, reduce costs, and increase output. This is driving growth in the industrial automation and control systems market.

Social: With rising living standards and education levels, workers expect their jobs to become less labor-intensive and more technology-focused. This is increasing demand for automation systems across industries.

Technological: Advances in areas like artificial intelligence, Internet of Things, robotics, and cloud computing are enabling the development of next-generation industrial control solutions with higher capabilities. Manufacturers are integrating these technologies to transform industrial operations.

In terms of value, the industrial automation and control systems market is concentrated in North America and Europe. These developed regions account for over 60% share due to the large manufacturing presence, emphasis on innovation, and high technology adoption rates.

Asia Pacific is the fastest growing region for the industrial automation and control systems market. Countries like China, India, Japan, and South Korea are rapidly industrializing and moving up the manufacturing value chain. At the same time, costs of advanced technologies are decreasing in Asia, boosting investments in automation across industries like automotive, electronics, food processing, chemicals, and more. The Asia Pacific market is projected to expand at around 8% annually during the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it