Industrial Automation and Control Systems Market Forecasts to 2028 - Global Analysis By Component (Industrial Robots, Control Valves and Other Components), Control System (Distributed Control System (DCS), Programmable Logic controller (PLC) and Other Con

Industrial Automation and Control Systems Market Forecasts to 2028 - Global Analysis By Component (Industrial Robots, Control Valves and Other Components), Control System (Distributed Control System (DCS), Programmable Logic controller (PLC) and Other Control Systems), End User (Automotive, Aerospace and Defense and Other End Users) and Geography

According to Stratistics MRC, the Global Industrial Automation and Control Systems Market is accounted for $178.14 billion in 2022 and is expected to reach $357.31 billion by 2028 growing at a CAGR of 12.3% during the forecast period. An industrial process's capability to operate securely, reliably, and safely depends on a group of people, hardware, and software commonly referred to as the industrial automation and control systems. Industrial automation is the process of replacing humans with machines and control systems, such as computers or robots, in a wide range of industrial operations.

According to the World Bank, the number of IoT-connected devices increased to 20.35 billion in 2017, up from 15.41 billion in 2015, and is predicted to reach 51.11 billion by 2023.

Market Dynamics:

Driver:

Technological Innovations

The industrial sector has witnessed an improvement in the inclusion of robotics engineering and technology into its production processes as a result of substantial technological advancements in robotics. Industrial robots are adaptable manipulator devices that can be programmed and controlled autonomously. Industrial robots are commonly used for tasks including welding, painting, ironing, assembling, pick-and-place, palletizing, product inspection, and testing. All of these activities require high levels of endurance, speed, and precision.

Restraint:

Large investments

Due to the installation of hardware like agile robots, sensory perception equipment, and mobility wheels, automation required huge capital expenditure. Exorbitant start-up costs are the result of this. Automation, however, exceeds human labor in productivity as costs decline over time. The operating costs of an organisation may decline even after replacing human workers. For SMEs, particularly those involved in low-volume production, automation is an expensive investment due to the cost of industrial robots as well as integration and associated costs, such as end effectors and vision systems.

Opportunity:

Government initiatives

Adoption of automation systems in industries is being boosting the market by supportive government initiatives. For instance, the German government has launched an ""Industry 4.0"" standard strategy that emphasises cloud computing, artificial intelligence, industrial IoT, and process automation. Additionally, the companies are using PLC systems to communicate between various departments of a manufacturing facility.

Threat:

Skilled manpower

The supply and demand for skilled and unskilled workers will have a direct impact on the mechanization of occupations. Furthermore, automation might be utilised earlier in higher wage countries, such as those in the service industry, than in lower wage countries. India, a developing nation, continues to deal with a lack of skilled workers in the automation industry.

Covid-19 Impact

The COVID-19 outbreak had a significant impact on the industrial automation and control systems industry. As a result of the global slowdown and shortage of personnel, production sites in the electronics and semiconductor industries had to shut down. Production capacity has been severely reduced as a result of the COVID-19 pandemic. In addition, travel restrictions and facility closures hindered workers from travelling to work, which reduced the growth of the industrial automation and control system market in 2020.

The control valves segment is expected to be the largest during the forecast period

Due to the technologies' rapid developments, control valve type is predicted to continue during the projected period. Modern process facilities are constantly coping with challenges related to the environment, the economy, and competition. In order to achieve competitive advantage, an increasing number of industrial enterprises are investing money in instruments and technology. Through the optimization of their operations, innovative solutions are made possible by technological advancements which can boost process facilities in becoming more productive. As industry standards evolve and develop, suppliers of control valves and valve automation solutions will continue to innovate processes and products that resolve these new issues.

The distributed control system (DCS) segment is expected to have the highest CAGR during the forecast period

Owing to its benefits in the automation and control system, distributed control system (DCS) has the highest CAGR. An automated system for managing and operating industrial or plant processes is characterised as a distributed control system (DCS). A DCS is an automated system that combines the HMI, logic solvers, history, common database, alarm management, and common engineering suite into a single unit.

Region with largest share:

Due to the increasing cost of production in China and the rising Yuan against the dollar, investors are searching for other manufacturing sites. The government of India decided to be the destination where multinational corporations choose to manufacture their products; therefore, Asia-Pacific region is the largest market during the projection period. Furthermore, the country's adoption of factory automation technology is expected to be significantly impacted by the ""Make in India"" initiative.

Region with highest CAGR:

The pharmaceutical and biotech industries in North America have increased their use of automation and control systems in recent years as a result of the rising popularity of biosimilars. The upsurge of generic drugs, the growth in chronic disease prevalence, the rise in demand for pharmaceutical drug productivity, and the increase in biotechnology market investment for new drugs are some of the major factors spurring the growth of the global automation and control system market in the pharmaceutical and biotech industries. Furthermore, the pharmaceutical and biotech sectors' global automation and control system market is expanding as a result of increased healthcare awareness.

Key players in the market

Some of the key players in Industrial Automation and Control Systems market include Rockwell Automation, Inc., Honeywell International, Inc, Siemens AG, Emerson Electric Co, OMRON Corporation, ABB Ltd, Schneider Electric, Mitsubishi Electric Corporation, Kawasaki Heavy Industries, Ltd and Yokogawa Electric Corporation.

Key Developments:

In October 2020, Emerson finalized its acquisition of Progea Group, a market-leading provider of industrial internet of things (IIoT), plant analytics, human machine interface (HMI), and supervisory control and data acquisition (SCADA) technologies.

In February 2020, Rockwell Automation, Inc. announced that it had reached an agreement to buy ASEM, S.p.A., a pioneer in digital automation technologies based in Italy. ASEM provides a full variety of Industrial PCs (IPCs), HMI software and hardware, secure Industrial IoT gateway solutions, and remote access capabilities.

Components Covered:
• Industrial Robots
• Control Valves
• Sensors
• Other Components

Control Systems Covered:
• Distributed Control System (DCS)
• Programmable Logic controller (PLC)
• Supervisory Control and Data Acquisition (SCADA)
• Other Control Systems

End Users Covered:
• Automotive
• Aerospace and Defense
• Chemical
• Food & Beverage
• Manufacturing
• Energy & Utilities
• Healthcare
• Mining & Metal
• Transportation
• Oil & Gas

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements