Industrial Automation Market
The industrial automation report outlines and analyzes the dynamics of the industrial automation market, covering 2019-2024 as the historic period and 2024-2029, 2034F as the forecast period. The report assesses the market across global regions and major economies within each region.
In 2024, the global industrial automation market was valued at around $198.43468 billion, expanding at a CAGR of 6.12% since 2019. The market is projected to rise from $198.43468 billion in 2024 to $305.49860 billion in 2029, registering a growth rate of 9.01%. Furthermore, the market is expected to grow at a CAGR of 8.79% from 2029, reaching $465.61157 billion by 2034.
🔍 Strategies Used by Leading Players in the Industrial Automation Market
Key companies in the market are implementing a wide range of strategic initiatives, including:
Reinforcing business capabilities through focused strategic investments
Improving operational output via continuous product advancements
Scaling manufacturing capabilities with next-generation production innovations
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📈 Strategic Recommendations for Market Expansion
To unlock growth opportunities, The Business Research Company recommends that industrial automation providers focus on:
Deploying AI-based 3D robotic picking systems to enhance intralogistics operations
Integrating AI-enabled robotic item-picking modules to boost automation performance
Launching digital quality management platforms for more efficient manufacturing workflows
Introducing generative AI engineering assistants to accelerate automation development and design
Expanding sustainable, digital-first switchgear portfolios for low-carbon energy systems
Rolling out smart sensor bushings and advanced protection solutions to increase power system reliability
📌 Industrial Automation: Market Overview
Industrial automation refers to the integration of control systems, advanced machinery, and technologies such as robotics, PLCs, sensors, and artificial intelligence to manage industrial operations with minimal human involvement. These systems support real-time monitoring, optimization, and data-driven decision-making across production environments.
Industrial automation is typically adopted to enhance productivity, lower operational expenditures, improve product quality, and enable scalability and operational precision. Automation systems are used alongside enterprise software solutions and can replace manual labor, semi-automated processes, and outsourced production tasks.
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🏢 Major Companies in the Global Industrial Automation Landscape
In 2024, the top 10 competitors collectively represented 25.10% of the market. Siemens AG held the largest share at 4.04%, followed by:
Schneider Electric SE
ABB Group
Rockwell Automation Inc
Emerson Electric Co
Mitsubishi Electric Corporation
Fanuc Corporation
Honeywell International Inc
Omron Corporation
Yokogawa Electric
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This release was published on openPR.
