The industrial automation and control systems market include systems and equipment used for production, operation, monitoring and controlling industrial processes, manufacturing, and distribution. Industrial automation and control systems facilitate production optimization, increase productivity, reduce human errors and deliver consistent results. Products like programmable logic controllers (PLCs), distributed control systems (DCSs), supervisory control and data acquisition (SCADA), human machine interface (HMI), and industrial PC enhance manufacturing processes. Growing operational efficiencies, quality improvements, and cost-cutting across industries such as oil & gas, food & beverages, chemicals, and automotive are driving demand for industrial automation.
The Global Industrial Automation and Control Systems Market is estimated to be valued at US$ 201.06 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in The Industrial Automation And Control Systems are LG Chem, Hanmi Pharmaceutical Co., Ltd., Boryung Pharmaceutical Co., Ltd., Novartis AG, EirGenix, Inc., Biocon Limited, G.L. Pharma GmbH, Daewoong Pharmaceutical Co., Ltd., Sandoz International GmbH, Boryung Pharmaceutical Co., Ltd., VHB Life Sciences Limited, HanAll Biopharma, Taiba Healthcare, Huons Co., Ltd., Dong-A ST Co., Ltd. The growing demand for higher productivity, mass production requirements and to reduce operational costs across industries is driving the growth of the industrial automation and control systems market. With expanding manufacturing sector and focus on industrialization in emerging economies the global scope for industrial automation is increasing.
Market key trends
The adoption of IoT and AI technologies in industrial automation is a major trend. IoT enables machine to machine communication allowing remote monitoring of industrial assets. AI analyzes production data for predictive maintenance and optimization of processes. Many companies are developing AI and IoT integrated automation solutions to enhance productivity, reduce downtime and improve competitiveness. For example, systems with computer vision supported by AI help automatically inspect product quality on production lines. Such innovative technologies will accelerate the rate of digital transformation in the industrial automation sector over the coming years.
Porter’s Analysis
Threat of new entrants: The industrial automation and control systems market requires high initial investments in R&D, manufacturing, and marketing. Established players have strong brand recognition and economies of scale which make market entry difficult for new players.
Bargaining power of buyers: Buyers have moderate bargaining power in this market due to the presence of many system integrators and automation solution providers. However, switching costs are high if the existing automation solution needs to be replaced.
Bargaining power of suppliers: Component and software suppliers have low bargaining power due to the availability of substitute components and technologies. Suppliers operate in a highly competitive environment.
Threat of new substitutes: Threat of substitutes is low as automation solutions are customized for specific industry and process requirements. However, technologies such as IIoT and advanced robotics pose a medium threat in the long run.
Competitive rivalry: The market is dominated by large automation companies. Competition is based on product quality, reliability, technological innovation, and service.
Geographical Regions
North America accounts for the largest share of the industrial automation and control systems market in terms of value. This is due to the presence of major automation suppliers and the early adoption of industrial automation technologies across industries such as oil & gas, chemicals, food & beverages, automotive etc. in the region.
The Asia Pacific region is expected to showcase the fastest growth during the forecast period. Significant investments in manufacturing industry expansion and modernization of existing facilities across China, India, Japan, and Southeast Asian countries are driving automation adoption. Government initiatives to promote made in country policies are also boosting regional growth.
