LONDON, May 24, 2021 /PRNewswire/ -- According to a new market research report, "Industrial Automation Market by Component (Plant-level Controls, Enterprise-level Controls, Plant Instrumentation), Mode of Automation (Semi-automatic, Fully-automatic), and End User (Oil & Gas, Automotive, Food & Beverage, Chemicals & Materials) - Global Forecast to 2027", published by Meticulous Research^®, the industrial automation market is expected to grow at a CAGR of 9.3% from 2020 to 2027 to reach $306.2 billion by 2027 from $164.2 billion in 2020. 

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Rising investment in the transformation of conventional manufacturing facilities by installing digitized systems is a major factor driving the growth of the industrial automation market, globally. Transformation of the conventional production facilities involves implementing automated systems across categories such as assets, workforce management, and production processes.

The industrial automation market is growing rapidly due to the high adoption of automation solutions in the manufacturing, oil & gas, chemicals & materials, and pharmaceutical sectors. With the implementation of automation components such as sensors, robots, machine vision systems, and enterprise control solutions, companies can drastically reduce operating and labor costs. Manufacturing companies are increasingly investing in industrial automation technologies to improve system reliability & efficiency and eliminate production errors caused by human labor. However, the limited availability of skilled labor required to operate these systems is a major challenge for the market's growth in emerging economies.

The automation providers witnessed a decline in revenues in 2020 due to the huge spread of COVID-19 and limited operations of industries in the first two quarters. The application sectors in the industrial automation market have experienced low to high impacts of the pandemic and are expected to recover in the coming years. The severely hit industries include oil & gas, construction machinery, rubber & plastic machinery, and power generation. These industries will recover slowly and face high impact due to changing consumer patterns, low productions, and dependency on end markets. Some of the industries which experienced medium impact include mining, robotics, building technology, electronics, paper & pulp, and process industry equipment. These industries are expected to gain a speedy recovery due to their broad range of application markets. The least hit industries included agriculture machinery, food & beverage processing & packaging, and medical & scientific manufacturers as they offer essential goods globally. Additionally, local manufacturing facilities that were temporarily shut down in the first six months of 2020 resumed operations in the third quarter due to the removal of lockdowns and the need for economic growth.

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The industrial sector faced a severe impact of the pandemic due to limited consumption of high-cost products and consumer need for purchasing essential goods & services. During the nationwide lockdowns, consumers restricted their purchases of consumer goods, high-cost electronics, textiles, automobiles, and machinery, which impacted the major application sectors in the industrial automation market. With the steady reopening of countries and stability in consumer lifestyles, the spending on these commodities is expected to increase, resulting in the demand for automation solutions over the coming years. The industry is, however, expected to gain pace in 2021. Thus, the need to limit human contact for curbing the further spread of COVID-19 is projected to result in the implementation of industrial automation systems across various end-user facilities globally.

Based on component, the overall industrial automation market is segmented into enterprise-level controls, plant instrumentation, and plant-level controls. In 2020, the enterprise-level controls segment commanded the largest share of the overall industrial automation market. The high share of this segment is mainly attributed to the benefits of enterprise management with the implementation of PLM, ERP, and MES solutions at enterprise levels. The PLM solution promotes cross-team collaboration across departments such as innovation, R&D, regulatory compliance, quality, and packaging. It enables cross-functional management of product development introduction, leveraging portfolio management capabilities to deliver visibility and optimize results across the product development phase. These systems aid companies to keep and manage records of the organization's lifecycle, further resulting in huge cost savings.

Based on mode of automation, the industrial automation market is segmented into semi-automatic and fully-automatic. In 2020, the semi-automatic segment accounted for the largest share of the overall industrial automation market. The semi-automatic segment gained a higher share due to limited awareness of industry consumers related to the automation technologies. Semi-automatic systems involve both manual interventions as well as machine-aided assemblies. These systems are the broadest part of the assembly and require a human operator at the starting and the end of the process. Semi-automatic systems require help from a human operator in manually loading and unloading the entire system. The growing demand for fully-automated facilities is attributed to the increasing adoption of robots and automation solutions in the manufacturing sector.

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Based on end user, the market is segmented into oil & gas, chemicals, paper & pulp, pharmaceuticals & biotech, mining & metals, food & beverage, power, consumer goods, automotive, machines & tools, semiconductors & electronics, aerospace & defense, and other end users. In 2020, the oil & gas segment accounted for the largest share of the overall industrial automation market. This is attributed to the implementation of automation technologies to improve decision making, troubleshooting, and performance efficiency in oil & gas exploration activities. Some of the major areas highly influenced by automation in the oil & gas sector include drilling operations, diagnostics & inspections, pipeline monitoring systems, weather monitoring systems, and pressure & flow systems. Drilling accounts for one of the major areas implemented with automation due to its highest expensive process and high safety risks.

Geographically, the global industrial automation market is segmented into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Netherlands, Sweden, rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, rest of Asia-Pacific), Latin America (Brazil, Mexico, rest of Latin America), and the Middle East and Africa (UAE, Saudi Arabia, South Africa, the rest of the Middle East & Africa). The Asia-Pacific region dominated the global industrial automation market in 2020, followed by Europe, North America, Latin America, and the Middle East and Africa. The high share of Asia-Pacific is due to the presence of large-scale industries and manufacturing sectors in these regions. The Asian countries, including China and Japan, are the top manufacturers and consumers of industrial robots, sensors, and machine vision systems which promote their growth rapidly. Additionally, India, China, and South Korea have robust automotive, consumer goods, electronics, and pharmaceuticals manufacturing sectors.

The key players operating in the global industrial automation market are ABB Group (Switzerland), Rockwell Automation (U.S.), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), KUKA AG (Germany), Emerson Electric (U.S.), Fanuc (Japan), Honeywell International (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), and Fuji Electric Co., Ltd. (Japan) among others.

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Report Scope:

Industrial Automation Market, by Component

• Enterprise-level Controls
• Product Lifecycle Management (PLM)
• Enterprise Resource Planning (ERP)
• Manufacturing Execution Systems (MES)
• Plant Instrumentation
• Motors & Drives
• Robots
• Articulated Robots
• Cartesian Robots
• Selective Compliance Assembly Robot Arms (SCARA)
• Collaborative Robots
• Other Robots
• Sensors
• Machine Vision Systems
• Cameras
• Optics and LED Lighting
• Relays & Switches
• Other Plant Instrumentation Components
• Plant-level Controls
• Supervisory Control and Data Acquisition (SCADA)
• Distributed Control Systems (DCS)
• Programmable Logic Controllers (PLC)
• Other Plant-level Controls

Industrial Automation Market, by Mode of Automation

• Semi-automatic
• Fully-automatic

Industrial Automation Market, by End User

• Oil & Gas
• Upstream
• Midstream
• Downstream
• Chemicals & Materials
• Paper & Pulp
• Pharmaceuticals & Biotech
• Mining & Metals
• Food & Beverage
• Beverages & Distilleries
• Dairy Processing
• Bakery & Confectionary
• Meat, Poultry, and Seafood Products
• Fruits & Vegetables
• Oil & Fats
• Other F&B End Users
• Power
• Consumer Goods
• Automotive
• Machines & Tools
• Semiconductors & Electronics
• Aerospace & Defense
• Other End Users

Industrial Automation Market, by Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Netherlands
• Sweden
• Rest of Europe
• Asia-Pacific (APAC)
• China
• India
• Japan
• South Korea
• Singapore
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa

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