Industrial Automation Service Market to Reach Value of US$ 395.09 Billion by 2030, And Rise at a CAGR of 9.8%, Contrive Datum Insights
Farmington, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The global Industrial Automation Service Market size was USD 205.86 Billion in 2022 and is expected to reach USD 395.09 Billion by 2030, with a CAGR of 9.8% from 2022 to 2030. Industrial automation is the process of using smart technology to automate industrial tasks that were once done by hand, were boring, or were done over and over again. Automation also helps lower production costs, boost productivity, improve quality, and make factories safer. It also makes process control better and cuts lead times by a lot compared to outsourcing or going overseas.
Request Sample Copy of Report “Industrial Automation Service Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
The market size, estimates, and forecasts for the Industrial Automation Service market are given in terms of sales volume (K Units) and revenue (million USD), with data from 2017 to 2030, with 2022 as the base year. This report breaks down the global market for Industrial Automation Services into many different parts.
Industrial Automation Service Market Recent Developments:
In July 2021 - Rockwell Automation partnered with Kessler AS, a cloud-based product digitization and traceability platform. The partnership aims to enable manufacturers to capture the end-to-end journey of their products from raw material source to point of sale or beyond by using cloud-based chain solutions.
In July 2021 - Siemens AG extends its partnership with SAP SE to offer new services and solutions for asset lifecycle management. The partnership aims to link shop floor operations, product development through digital twins, and remote condition monitoring with original equipment manufacturers (OEMs) to facilitate collaboration across the asset lifecycle.
In June 2021 - Rockwell Automation acquires Plex Systems, a provider of smart manufacturing solutions, for $2.22 billion. The acquisition aims to expand industrial cloud offerings with Plex Systems' cloud-native smart manufacturing platform.
Industrial Automation Service Market Segmentation Analysis:
A computer-based system called a distributed control system (DCS) runs an industrial process. It connects sensors, controllers, and actuators with a network so they can talk to each other well. Distributed control systems can be either centralized or decentralized. Centralized Distributed Control System: has one master controller that is connected to the other controllers. Supervisory control and data acquisition systems are computer-based systems that allow remote access to equipment like measurements and actuators through an information network like the Internet, etc., by using computers connected to plant equipment when human supervision is needed. Programmable logic control systems are computers that can be set up to keep an eye on or control machinery. They work on the process of sequential machine operation and give high accuracy, reliability, speed, etc. for a variety of operations.
In project engineering and installation, industrial automation service is used to help test systems, equipment, or software. It also helps with projects that have to do with power plants, like chemical plants, refineries, and facilities for processing natural gas. In maintenance and support, industrial automation is used to check on the state of machinery, equipment, a production line, or a plant. It helps maintenance planners and schedulers make better decisions by giving them real-time information about how machines are running. Consulting services use Industrial Automation services to plan and design the plant, instal it, and make sure it works well together. It also lets you add extra features like factory analytics systems that use Big Data technology. Some of the most important services in the consulting process are provided by the industrial automation service. It helps businesses improve the effectiveness and efficiency of how they do business.
Regional Outlook:
In 2021, 36.6% of the total revenue from the industrial automation and control systems market came from the Asia-Pacific region. This means that this region was the market leader. This strong growth is due to the fact that both big market players and new companies are present. China and India are also driving market growth in this area because they want better factory management solutions. Integration of traditional production facilities into "smart" factories is a common trend that helps industrial automation become more popular.
Europe had more than 15% of the market in 2021, and growth is expected to be around 7% per year from 2022 to 2030. This significant growth is due to the fact that manufacturing units in the region are forced to use the latest technological advances and digital transformation capabilities to make their business processes as efficient as possible in response to rapidly increasing competition and rising end-user demands.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/57613/?Mode=TM
Scope of Report:
Report Attributes | Details |
Growth Rate | 9.8% from 2022 to 2030 |
Market Size in 2022 | USD 205.86 Billion |
Revenue Forecast by 2030 | USD 395.09 Billion |
By Type | Distributed control systems (DCS), Supervisory control and data acquisition (SCADA), Programmable logic control (PLC), Manufacturing execution system (MES), Others (HMI, EMI, and AM) |
By Applications | Project engineering and installation, Maintenance and support, Consulting services, Operational services |
By Companies | ABB Ltd. (Switzerland), Siemens AG (Germany), Emerson Electric Company (US), Schneider Electric SE (France), General Electric Company (US), Honeywell International Inc. (US), Yokogawa Electric (Japan), Mitsubishi Electric Corporation (Japan), Ametek Inc. (US), Fanuc (Japan), Rockwell Automation Inc. (US), and Others |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 to 2030 |
Industrial Automation Service Market dynamics:
Drivers
In the coming years, the manufacturing industry is likely to continue to change, moving from manual help to automation, which will drive market demand. Most of the manufacturing processes used today are already automated so little or no human help is needed. Automation technologies are called "the need of the hour" because traditional ways of making things aren't good enough to meet current needs. Also, government policies that help the manufacturing industry and a greater focus on economic diversification in emerging markets are two of the most important growth drivers that are pushing industrial automation forward. Industrial automation market growth is also helped by the growing need for digital transformation in different industries, such as manufacturing, healthcare, transportation, and retail.
Restraints
Problems with compatibility and high installation costs slow down the market share of industrial automation.
Compatibility problems and high installation costs are the main things holding back market growth and slowing down the adoption of automation processes, especially in small businesses.
Challenges
The biggest problems the industrial automation market has to deal with are a lack of knowledge and technical know-how. The growth of the industrial automation market is hindered by a lack of knowledge about the benefits of automated processes and technical expertise, as well as by the fact that manufacturing processes are always changing.
Industrial Automation Service Market Key Segments Covered:
Top Market Players:
ABB Ltd. (Switzerland), Siemens AG (Germany), Emerson Electric Company (US), Schneider Electric SE (France), General Electric Company (US), Honeywell International Inc. (US), Yokogawa Electric (Japan), Mitsubishi Electric Corporation (Japan), Ametek Inc. (US), Fanuc (Japan), Rockwell Automation Inc. (US), and Others.
Industrial Automation Service Market by Types:
Distributed control systems (DCS)
Supervisory control and data acquisition (SCADA)
Programmable logic control (PLC)
Manufacturing execution system (MES)
Others (HMI, EMI, and AM)
Industrial Automation Service Market by Applications:
Project engineering and installation
Maintenance and support
Consulting services
Operational services
Regions and Countries Covered
North America: (US, Canada, Mexico, and Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
Check out more related studies published by Contrive Datum Insights:
Robotic Process Automation Market – The Global Robotic Process Automation Market Size Was Valued At USD 1.89 Billion In 2022 And Is Expected To Grow At A Compound Annual Growth Rate (CAGR) Of 38.2% From 2022 To 2030. North America accounted for 37.26% of the revenue share in 2021 and is expected to grow steadily over the forecast period. This is estimated based on the high penetration of automation solutions and process management by government agencies and businesses in the region.
Mining Automation Market - The global mining automation market size was valued at USD 4.6 Billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. The regional mining automation market is segmented into Asia Pacific, North America, and Europe. The increasing automation rate in the Asia Pacific region is leading to high market growth. New product launches and developments in the market are expected. The demand for high productivity and efficiency in mining is driving more adoption.
Industrial Greases Market – The Global Industrial Greases Market Is Estimated To reach US$ 1,905.9 Mn in value by 2022, Exhibiting A CAGR Of 5.5% Between 2022 And 2030. North America is one of the most developed regions for industrial grease and is expected to continue to dominate over the forecast period. The main reason for this growth is the growing demand from the automotive and mining industries in the region.
Industrial Gas Turbine Market - The Global Industrial Gas Turbine Market Size Crossed USD 5.8 Billion In 2022 And Is Expected To Register Over 5.8% CAGR From 2022 To 2030. Asia Pacific is projected to account for approximately 30% of the industrial gas turbine market share by 2030. Rapid modernization and retrofitting of power generation infrastructure are likely to propel regional market statistics. As the manufacturing sector expands, there is a real need for efficient power generation.
Customization of the Report: The report can be customized as per client needs or requirements. For any queries, you can contact us at anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most relevant reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
