Food Automation Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)
The food automation market is expected to register a CAGR of 7.4% during the forecast period. Automation has been adopted in manufacturing plants for the last 50 years, and it is increasing day by day. The food industry has become one of the fastest-growing segments of plant automation. The food industry is growing tremendously and is one of the major sectors contributing to GDP.
Key HighlightsThe degree of competition in the food automation market is high with the presence of major players like Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., Emerson Electric Company, ABB Ltd, Mitsubishi Electric Corporation, Siemens AG, Yokogawa Electric Corporation, among others. Players in the market are adopting strategies such as partnerships, innovations, investments, and acquisitions to enhance their product offerings and gain sustainable competitive advantage. In September 2022, The OpreXMagnetic Flowmeter CA Series was released and reported by Yokogawa Electric Corporation. The OpreXField Instruments family released this new product series to replace the ADMAG CA Series. This new line of products includes capacitance-type magnetic flowmeters, which can measure the flow of conductive fluids via a measurement tube without the fluids touching the device's electrodes. The product's main target markets would be chemicals, paper and pulp, mining, food and beverage, water, and sewerage. In August 2022, Honeywell announced it launched an Industrial Automation Lab in conjunction with the University Politehnica of Bucharest's Department of Automation and Computer Science to help students build the technical skills and knowledge required to join, compete and succeed in the global industrial automation sector.
Additional Benefits:In this report,
Search for an exact word or phrase by placing the word or phrase in quotation marks ("market trend"). Search for different versions or tenses of a word by placing an asterisk at the end of the word (pharma*).
Please note that your term must be at least three characters long and numbers will be blocked by the # sign.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook