April 18, 2024
Industrial Automation and Control Systems Market

Industrial Automation and Control Systems Market is Expected to be Flourished by Increasing Adoption of Industry 4.0 Technologies

The global industrial automation and control systems market encompasses industrial robots and programmable logic controllers (PLCs) that are deployed across industries such as automotive, food & beverages, electrical & electronics, chemicals & materials, oil & gas, and pharmaceuticals for production automation and process control. Industrial robots facilitate assembly and material handling operations while PLCs enable real-time control and monitoring of industrial processes. With the continual advancement of technologies such as artificial intelligence (AI), machine learning (ML), and industrial internet of things (IIoT), there is a rising uptake of smart automation solutions that optimize resource usage, predict downtime, and improve productivity.

The global industrial automation and control systems market is estimated to be valued at US$ 174.53 billion in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing adoption of Industry 4.0 technologies is expected to flourish the industrial automation and control systems market over the forecast period. Industry 4.0 emphasizes connectivity of machines and systems through technologies like IIoT, AI, ML, data analytics etc. Industries are increasingly deploying these smart automation solutions to transform conventional production lines into dynamic, digitally enabled workspaces. For instance, PLCs integrated with ML algorithms can monitor machinery health and predict faults in advance. Similarly, IIoT enabled robots can collaborate with humans to complete complex tasks. This is improving operational efficiencies, reducing downtime and facilitating real-time decision making across industries. Additionally, ongoing trend of industrial digitization is also fueling demand for advanced automation solutions that enhance productivity through predictive maintenance, remote monitoring, and autonomous operations.

Segment Analysis
The industrial automation and control systems market is dominated by the DCS (Distributed Control Systems) segment which holds around 35% market share. DCS systems are highly preferred in industries such as oil & gas, power generation, chemicals and petrochemicals as they provide centralized monitoring and control of the whole plant. These systems can process feedback signals from many measurement points and control the output devices simultaneously from a central location. The PLC (Programmable Logic Controller) segment holds the second largest share owing to their simple programming features and ease of use for medium-sized applications.

PEST Analysis
Political: Governments across various countries are supporting industries through initiatives like Made in China 2025, Industry 4.0 to increase factory automation and digitization. This is positively impacting the market.
Economic: Rising labor costs and need to increase productivity is prompting industries to invest more in automated systems for enhanced efficiencies. The market is also driven by the strong economic growth in emerging nations.
Social: Growing demand for enhanced product quality, reduced production cycle times and improved productivity is fueling market growth. Also, requirement for safer workplaces with lesser human intervention is propelling the demand.
Technological: Advancements in robotics, IoT, AI, machine learning, predictive maintenance, etc. are expanding the capabilities of control systems. This is enabling industries to achieve more flexibility, traceability and remote functionality.

Key Takeaways
The Global Industrial Automation And Control Systems Market Size is expected to witness high growth over the forecast period.

Regional analysis: North America holds the largest share currently due to rapid technological adoption and substantial investments by industries. Asia Pacific is anticipated to grow at the fastest pace during the forecast period on account of rising industrial automation in countries like China, India and Southeast Asian nations.

Key players operating in the industrial automation and control systems market are ABB Ltd, Emerson Electric Co., Honeywell International Inc, Schneider Electric SE, Siemens AG, Eaton Corporation, General Electric Co, Rockwell Automation, Yokogawa Electric Corporation, Omron Corporation.

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