Industrial Automation Market Forecast to 2028

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New York, April 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Industrial Automation Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component, System Type, and End Users” – https:// www.reportlinker.com/p06270010/?utm_source=GNW
For example, in 2019, the Chinese government invested US$577 million in the development of industrial robots under the Made in China 2025 plan.

In September 2020, the UK government announced plans to invest approximately US$180 million in the second cycle of its Manufacturing Made Smarter program to promote interconnectivity and innovation in the country’s manufacturing industry. Industrial automation market players for industrial automation applications are driving the industrial automation market growth.

For example, in 2020, Honeywell International Inc. and Tech Mahindra Limited partnered with “Factories of the Future” to accelerate the digital transformation journey by empowering manufacturers. Similarly, Siemens has collaborated with SAP SE to provide companies with business processes compatible with Industry 4.0. Thus, the factors mentioned above are driving the industrial automation market.

Moreover, the growing number of online shoppers across the world is constantly influencing the adoption of automation in the e-commerce industry.

The demand for automation in e-commerce is highly variable, due to which front pick areas need to be continually adjusted to help fluctuate demand. Along with managing fluctuating stock keeping unit (SKU) demand, an automated storage and retrieval system (ASRS) also advances the fulfillment process, enabling e-commerce and omnichannel retailers to better meet service level agreements by meeting order delivery commitments.

Several e-commerce giants have also increased their investments in warehouse automation over the years. For example, in July 2021, Amazon India announced the launch of its 11 automated fulfillment centers.

The centers will be integrated with automated technologies to automate packing and shipping processes and ensure safe and fast order processing. These factors are expected to drive the growth of the global industrial automation market over the forecast period.

During the COVID-19 pandemic, manufacturing facilities for industrial automated solutions across the world were affected, resulting in low production volumes. Additionally, demand for such solutions has rapidly declined, due to the temporary closure of end-use manufacturing and other retail outlets.

For example, the automotive sector saw a 20% decline in manufacturing in 2020, due to the spread of COVID-19. Thus, in the first two quarters of 2020, the size of the global industrial automation market has been affected.

However, the world has witnessed the rapid adoption of robots in 2020. In 2020, APAC recorded the deployment of 71% of all newly manufactured robots.

Installations of the largest adopter in the region (China) grew strongly by 20%, with 168,400 units shipped. Automotive industry adoption was lower in Asia-Pacific in 2020. The electronics and semiconductor industry invested significantly in industrial automation solutions, such as robots, in 2020, and it continued to invest in 2021. Meanwhile, due to the containment measures adopted by governments, the supply from industrial automation manufacturers was slightly affected until the third quarter of 2020. In addition, with the normalization of economic and manufacturing activities from the third quarter of 2020, the adoption of automated solutions has seen an increase to reduce the number of human interactions between facilities, thus enabling the industrial automation market to revive both on the supply and demand side in 2021.

The industrial automation market is segmented on the basis of component, system, and end user. Based on components, the market is segmented into hardware and software.

In 2021, the hardware segment dominated the industrial automation market and accounted for a larger market share. Based on the system, the market is segmented into supervisory control and data acquisition, distributed control system, programmable logic control, and others.

In 2021, the others segment led the industrial automation market and accounted for a larger market share. On the basis of end user, the market is segmented into Oil & Gas, Automotive, Food & Beverage, Chemical & Materials, Aerospace & Defense, and Others.

In 2021, the automotive segment led the industrial automation market and accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share of the global market.

Key players operating in the global industrial automation market profiled in the market study include ABB LTD. ; B&R Industrial Automation GmbH; HITACHI LTD. ; Industrial Automation (M) SDN BHD. ; Koyo Electronics Industries Co., LTD. ; Mitsubishi Electric Corporation; Omron Corporation; Rockwell Automation; Siemens; and Yokogawa Electric Corporation.

The overall global industrial automation market size has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves to get an overview and forecast for the industrial automation market with respect to all segments. Additionally, several primary interviews were conducted with participants and industry commentators to validate the data and gain more analytical insights on the topic.

Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as evaluation, research analysts and key opinion leaders specializing in the industrial automation market.
Read the full report: https://www.reportlinker.com/p06270010/?utm_source=GNW

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