COVID-19 Impact on Global Industrial Automation Market By Technology (Supervisory Control &Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Human Machine Interface (HMI) and Programmable Automation Controller (PAC)); By End User (Machine Manufacturing, Oil & Gas, Aerospace & Electronics, Automotive & Transportation, Mining & Metals, Food & Beverage and Pharmaceuticals) and Region -Analysis of Market Size, Share and Trends for 2014 - 2020 and Forecasts to 2030
Factory automation standardizes industrial processes and guarantees consistent, superior-quality results; therefore, it has a high demand in industries for efficient, high-quality manufacturing. Furthermore, it fulfills the demand for mass production in industries due to features such as reduced human interference, increased efficiency, and lower labor costs, resulting in minimum overall operating costs. The market for factory automation has a further boost due to the rising adoption of the Industry 4.0 trend and IoT powered smart technologies. However, the growth of factory automation is hampered by high investment, limited skilled availability, and insufficient knowledge of safety.
Global Industrial Automation Market size was registered at USD 183.35 billion in 2020 and is estimated to reach USD 408.39 billion by 2030, registering a CAGR of 8.55% from 2020 to 2030. Due to the growing adoption of process automation across diverse industries such as automotive, energy utilities, and chemicals, the market is expected to see substantial growth over the forecast period. The businesses are dramatically reducing labor and operating costs by automation, as well as eliminating human errors due to the reliability and efficiency of the system.
Source: Fatpos Global
The Industrial Automation Market is segmented based on technology, end-user, and region.
By Technology (in %), Industrial Automation Market, 2019
The DCS segment is anticipated to register XX% of the market share during the forecasted period.
By technology the market can be segmented into Supervisory control & data acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Human Machine Interface (HMI), and Programmable Automation Controller (PAC). The manufacturers use different control systems to manage and optimize industrial processes such as metalworking, molding, manufacturing of chemicals, and painting works. The main control systems include distributed control systems (DCS). These systems include single or multiple control loops which are used without any human interaction to automate various processes using sensors and meters. Such processes can have to do with temperature, pressure, flow, and level control. The control systems are commonly used for whole or partial automation in industries such as electricity generation, oil and gas, chemical, pulp and paper, and telecommunications.
By End User (in %), Industrial Automation Market, 2019
The mining and metals segment accounted for XX% of the nation’s volume in 2019
The end-user segment can be classified into Machine Manufacturing, Oil & Gas, Aerospace & Electronics, Automotive & Transportation, Mining & Metals, Food & Beverage, and Pharmaceuticals. Mining and metals industries are expected to see the highest rate of growth in process industries during the forecast period. The mining and metals industry is concerned with mineral and metal deposit production and product manufacturing. The metal industry provides processes for metalwork such as grinding, milling, spinning, and forging. Mining activities in remote and dangerous areas are difficult to conduct and to maintain. Machinery used in metal processing demands fast and efficient movement of metals with precision-driven by drives and PLCs. Drives provide accurate speed and torque control while PLCs provide process versatility. It provides greater efficiency, ensures protection, minimizes wear, improves reliability, and improves quality due to the introduction of automation in this area.
Source: Fatpos Global
Growing adoption of process automation and industrial robots to increase the market growth
The market is expected to see substantial growth over the forecast period due to the growing adoption of process automation across diverse industries such as automotive, energy utilities, and chemicals. The businesses are dramatically reducing labor and operating costs by automation, as well as eliminating human errors due to the reliability and efficiency of the system. Moreover, the growing adoption of industrial robots in the manufacturing industry to cater to rising population demand is boosting the industrial automation market. Also, the market is expected to expand due to government initiatives towards industrial automation adoption.
High cost of industrial automation systems and privacy concerns to hinder the market growth
Issues such as the high cost of introducing industrial automation systems, privacy and security concerns, lack of industry-related regulations and standards, as well as the reduction of many laborers due to process automation are some of the major challenges affecting market development. Also, there is a shortage of skilled labor and workforce to manage automation systems, equipment, and machinery; which impedes the steady market growth.
In terms of value and volume, APAC accounted for XX% of total market volume share in 2020
With technological advances and the high adoption of automation technologies in various industries, APAC is expected to continue to account for the largest share of the industrial automation market among all regions. By introducing automation technology in the manufacturing sector, China has been focusing on creative industrial practice. Moreover, research institutes and companies are working collaboratively to develop manufacturing processes in China. Also, industrial intellectualization and knowledge integration remain the core focus of government industrial policy in China. This initiative is expected to increase the country's demand for industrial control and factory automation.
Source: Fatpos Global
Global Industrial Automation Market is further segmented by region into:
Global pandemic COVID-19 has become global stress, not just for human lives, but also for industries across different industry verticals. The COVID-19 disease has infected several million people globally, with an increasing number of active cases daily, the duration of the pandemic is still difficult to predict. Industrial automation, having been slowed by flat capital expenditure and decreasing industrial production, was not in a great position until COVID-19 struck. Since then the virus has closed factories, with employees sent home from around the world. It has revealed the fact that, amid a lot of speculation over the years, advanced factory automation on a scale hasn't been replaced by human employees. When the global economy finally recovers, the virus will help to stimulate investment in factory automation, but that will take a while. However, COVID-19's effect will concentrate organizations on the need for faster medium-term automation, not least to help bridge the productivity gap. Projects such as Industries 4.0 would play a significant role. It is a pressing task which COVID-19 has made ever more urgent. It would have been in a better position today if the business had moved with more alacrity and commitment when it had a chance. Those who couldn't get the incentive to better prepare themselves for future crises can do so now.
New technological advancements in the Industrial Automation Market as well as large production output of the product by key players are likely to increase the market growth. Moreover, the development of smart factories for manufacturing robots, sensors, wireless technologies, and machine vision systems is also expected to drive demand.
Industrial Automation Market: Key players
Global Industrial Automation Market report also contains analysis on:
Industrial Automation Market segments: -
Select License Type
US : +1 (716) 218-3733
UK : +44 (208) 1235555
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT