The global industrial automation & control systems market size is estimated to reach USD 223.0 billion by the end of 2025 and is projected to grow at a CAGR of 8.6% during the forecast period 2019 to 2025, according to a new report by Million Insights.Growing demand for automation systems like DCS, SCADA, and PLC to optimize operational efficiency is projected to spur market growth. Several factors such as growing labor costs, precise manufacturing and accuracy in operation are gaining traction in the market. However, high installation cost may hinder the market growth.
Rising spending on research & development with government support for transforming industry with industry 4.0 standards is driving market growth. For example, the government of the U.S. is aiming to invest in the development of industrial IoT and smart manufacturing, which is expected to bolster market growth in the next few years. In China, material and labor cost arerising, hence the industries are focusing on digitalizing manufacturing process to reduceoperational costs. Government of China has set an aim by 2025 to transform high value producing product & services country under Made in China Initiative. This initiative is expected to bolster the market growth.
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Automation and controlling systems include components like control valves, industrial robots, 3D printers, human-machine interfaces, field instruments and others. All these components possess huge demand from industries like manufacturing, oil & gas, automotive, and food & beverages. The automation systems are highly required in manufacturing industries.Automation systems enhance productivity and improve operational capabilities with reduced overall cost. All these key factors are anticipated to foster the industrial automation & control systemmarket growth.
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Further key findings from the report suggest:
• Growing trend of digitalization in industries and smart manufacturing are expected to drive the growth of industrial automation & controlling system.
• DCS systems are projected to witness significant growth on the account of increasing need for energy and power generation.
• Depending on component type, industrial robots segment is projected to grow at a CAGR of over 10.0% during the forecast period.
• The U.S. market is projected to hold the largest share in the market by 2025.
• In Asia Pacific, China is estimated to expand at the CAGR of 12.0% over the forecast period.
• In 2018, manufacturing industry vertical led the market with the highest share in the overall market.
Million Insights has segmented the global industrial automation & control systems market based on control system, component type, vertical and region:
Industrial Automation & Control Systems Outlook (Revenue, USD Billion, 2014 – 2025)
Industrial Automation & Control Systems Component Type Outlook (Revenue, USD Billion, 2014 – 2025)
• Industrial Robots
• Control Valves
Industrial Automation & Control Systems Vertical Outlook (Revenue, USD Billion, 2014 – 2025)
• Aerospace & Defense
• Energy & Utilities
• Food & Beverage
• Mining & Metal
• Oil & Gas
Industrial Automation & Control Systems Regional Outlook (Revenue, USD Billion, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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