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Industrial Automation Market to Reach USD 478.68 Billion by 2032 at a CAGR of 8.6 % |Emergen Research 
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Industrial Automation Market Growth – at a CAGR of 8.6%, Market Trends – Rapid adoption of cloud platforms to deploy industrial automation solutions
Rapid adoption of Industry 4.0 technologies across the globe and increasing investments to modernize manufacturing activities are some key factors driving market revenue growth ”— Emergen Research
VANCOUVER, BC, CANADA, May 8, 2023 /EINPresswire.com/ — The global industrial automation market size reached USD 210.50 Billion in 2022 and is expected to register a revenue CAGR of 8.6% during the forecast period, according to the latest analysis by Emergen Research. Rapid adoption of Industry 4.0 technologies across the globe and increasing investments to modernize manufacturing activities are key factors driving revenue growth of the market. Industrial Internet of Things (IIoT) and cyber-physical systems, which are intelligent, autonomous systems that employ computer-based algorithms to monitor and operate physical objects such as machinery, robots, and vehicles, are the foundation of Industry 4.0. The adoption of Industry 4.0 technology within the supply chain leads to smart factories, manufacturing facilities, smart storage, and logistics. However, Industry 4.0 goes beyond the supply chain. Enterprise Resource Planning (ERP) and other back-end systems are interconnected to provide businesses with a level of visibility and control never before possible. Industry 4.0 is ultimately a key component of any company's digital transition.
The report also highlights the most important factors influencing industry revenue growth, including drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, strict regulatory frameworks, and a multitude of micro-economic and macro-economic factors. industrial automation industry projections and qualitative and quantitative assessments have been provided by the report's authors. The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global industrial automation market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.
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The Leading Market Contenders Listed In The Report Are:
Schneider Electric, Siemens AG, General Electric Company, Emerson Electric Co, Rockwell Automation Inc., Yocogawa Electric Corporation, Omron Corporation, Fanuc Corporation, Dwyer Instruments, Ltd, Mitsubishi Electric Corporation, Honeywell International Inc., and ABB Ltd
Some Key Highlights From the Report
The software segment is expected to account for largest revenue share over the forecast period. Presence of various IT companies providing industrial automation software that can enable the use of IIoT. In addition, rapid adoption of cloud platforms across various industries has enabled the deployment of Artificial Intelligence/ Machine Language (AI/ML) solutions that can make industrial automation effective.
The automotive segment revenue accounted for largest revenue share in 2022. This can be attributed to rapid adoption of automation in the manufacturing of the automobile with minimum human intervention.
North America accounted for largest revenue share in 2022. Government investment through conducive policy measures such as the Infrastructure Investment and Jobs Act (IIJA), to modernize manufacturing by adopting Industry 4.0 technologies is driving revenue growth of the market in this region.
On 16 November 2022, Rockwell Automation, Inc. announced that Ford Motor Company has chosen Rockwell as the key controls and solutions provider for its vehicle operations at its upcoming three electric vehicle assembly facilities, by working together on architectures and designs for assembly tooling that will quicken time to market.
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Emergen Research has segmented the global industrial automation market on the basis of component, industry vertical, and region:
Component Outlook (Revenue, USD Billion; 2019-2032)
Hardware
Industrial Sensors
Machine Vision Systems
Industrial Robots
Human Machine Interface
Others
Software
Supervisory Control & Data Acquisition
Programmable Logic Controller
Distributed Control System
Plant Asset Management
Others
Services
Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)
Oil & Gas
Manufacturing
Automotive
Healthcare
Energy & Power
Others
Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
S.
Canada
Mexico
Europe
Germany
France
K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Turkey
Rest of MEA
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/industrial-automation-market
Report Highlights:
Besides offering a vivid depiction of the global Industrial Automation business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2032).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Industrial Automation Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
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sales@emergenresearch.com
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