- By Marie Nolan
- January 05, 2023
The global industrial and automation control systems market size is expected to reach USD 377.25 billion by 2030, registering a CAGR of 10.3% during the forecast period from 2022 to 2030.
The global industrial and automation control systems market size is expected to reach USD 377.25 billion by 2030, registering a CAGR of 10.3% during the forecast period from 2022 to 2030. This according to a new report released by Research and Markets, Dublin, Ireland.
The growth is attributed to growing adoption of process automation across various industries, such as automotive, energy utilities and chemical. For instance, in March 2022, ABB Ltd. secured the contract to automate NatureWork’s new greenfield plant in Thailand. ABB Ltd. will fulfill the contract by providing the hardware, software and control room designs.
Through automation, the companies are significantly reducing labor and operational expenses, as well as minimizing human errors due to the system’s reliability and efficiency. Moreover, the rapid shift of the industries towards smart manufacturing is expected to spur the market for industrial automation & control systems. The use of different types of robots is expected to push the market’s growth. For instance, in September 2021, ABB, Ltd. launched IRB 920T to expand its range of SCARA robots. The machine is designed to suit the high-speed production requirements of the electronics sector in increasingly complicated manufacturing processes.
Asia Pacific is expected to emerge as a strong market owing to the region's key market players and emerging companies. Some notable regional players are Yokogawa Electric Corporation, Kawasaki Robotics, and Mitsubishi Electric Factory Automation. The increase in the Asia Pacific can be attributed to the increasing demand for better solutions to manage industrial plants in China and India. Furthermore, emerging economies such as Indonesia, Vietnam, and Thailand have a largely untapped market that drives significant investments to develop manufacturing facilities.
- The industrial robots’ component type segment is expected to grow at the highest CAGR of over 10% owing to rising trend of smart and automated factories during the advent of industry 4.0 boom.
- The Distributed Control System (DCS) control system segment accounted the highest market share of over 30% owing to fast pace of adoption of IIoT by industrialists.
- The healthcare vertical segment is expected to grow at the highest CAGR of over 10% owing to the growing trend of automation in surgeries and other health applications which offer doctors more precision and flexibility.
- Asia Pacific is expected to grow at the highest CAGR of over 13% during the forecast period from 2022 to 2030 as a result of developing countries in the region investing significantly in automation and smart manufacturing.
- Abb Ltd.
- Emerson Electric Co.
- Honeywell International, Inc.
- Kawasaki Heavy Industries, Ltd.
- Mitsubishi Electric Corporation
- Omron Corporation
- Rockwell Automation, Inc.
- Schneider Electric
- Siemens AG
- Yokogawa Electric Corporation
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