Selbyville, Delaware , Sept. 02, 2024 (GLOBE NEWSWIRE) -- Industrial Automation and Control System Market is projected to surpass USD 380 billion by 2032, as per a recent study by Global Market Insights Inc.
The market growth will be fueled by ongoing technological advancements, increasing demand for automation solutions across various industries, and expanding industrial activities. Innovations in control systems and automation technologies are driving efficiency, productivity, and safety in industrial operations worldwide. The rising innovative advancements from leading companies further support the industry.
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For instance, in February 2024, Schneider Electric, a frontrunner in digital transformation for energy management and automation, partnered with Intel and Red Hat to introduce the Distributed Control Node (DCN) software framework. An extension of Schneider Electric’s EcoStruxure™ Automation Expert, this innovative framework facilitated a transition to a software-defined, plug-and-produce solution. Furthermore, companies are adopting advanced automation technologies to streamline operations, minimize downtime, and enhance productivity, which, in turn, drives growth in the market.
Plant Component Solutions to Drive Market Growth
The Plant Component segment will be a major growth driver in the industrial automation and control system market from 2024 to 2032. This segment includes a range of solutions, such as sensors, controllers, actuators, and communication devices that are crucial for optimizing plant operations. With the rising focus on enhancing operational efficiency and reducing downtime, plant component solutions are in high demand. Technological advancements, including the integration of IoT and AI into plant components, are further enhancing their capabilities and performance. These innovations are enabling real-time monitoring, predictive maintenance, and more precise control of industrial processes, thereby contributing to the segment’s robust growth.
Mining and Metal Industries to Expand
The Mining and Metal segment will witness substantial growth during the forecast period, driven by the increasing automation of mining and metal processing operations. Automation and control systems are essential for improving safety, operational efficiency, and resource management in the mining and metal industries. As mining companies seek to enhance productivity and reduce operational costs, the adoption of advanced automation solutions is rising. These solutions help streamline processes, minimize human error, and ensure compliance with safety and environmental regulations. The growing complexity of mining operations and the need for efficient resource management are expected to propel demand in this sector.
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Europe to Lead the Industrial Automation Industry
Europe industrial automation and control system market will hold notable CAGR from 2023 to 2032. The region’s advanced industrial infrastructure, coupled with stringent regulatory standards and a strong emphasis on technological innovation, drives the market growth. Countries such as Germany, France, and the United Kingdom are leading the adoption of industrial automation solutions due to their robust manufacturing sectors and ongoing industrial modernization efforts. European governments are also supporting the growth of the automation market through initiatives aimed at enhancing industrial efficiency and sustainability.
Key Market Players
Leading companies in the industrial automation and control system market include Emerson Electric Co, Rockwell Automation Inc, Schneider Electric, General Electric, OMRON Corporation, Honeywell International, Inc, Mitsubishi Electric Corporation, Kawasaki Heavy Industries, Ltd, Yokogawa Electric Corporation, Robert Bosch GmbH, ABB Ltd.
The industrial automation and control system market is thriving due to increased efforts by companies to enhance operational efficiency and precision. Major players are investing in advanced technologies like AI and IoT to drive innovation. For example, ABB and Siemens are pioneering automation solutions that streamline manufacturing processes and boost productivity, meeting the growing demand for sophisticated industrial control systems.
For instance, in May 2024, Siemens unveiled a significant advancement in managing multiple hardware control points within factories. It Introduced the Siemens Simatic Automation Workstation. This innovative solution enabled manufacturers to consolidate a hardware PLC, traditional HMI, and edge device into a single, software-based platform.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
