Latest News- Industrial Automation Market In Life Sciences Industry: Onsite is expected to lead the Deployment segment during 2025-2029

The Industrial Automation Market In Life Sciences Industry is being driven by Growing global demand for healthcare services

The Industrial Automation Market In Life Sciences Industry is expected to grow at a CAGR of 8.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3658.2 million. The Open Process Automation (OPA) forum's vision is poised for increased adoption within the life sciences industry during the forecast period. Key industry players, including ExxonMobil, are collaborating through this platform to address interoperability challenges in industrial automation. In a significant move, ExxonMobil announced a partnership with Yokogawa Electric Corporation, an automation services provider, to establish an OPA testbed. As the designated OPA system integrator, Yokogawa Electric Corporation will help ExxonMobil develop an integrated testbed platform. This platform will enable the evaluation of industrial standards, including those relevant to the pharmaceutical sector, thereby promoting industry-wide interoperability and innovation. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Onsite
  • Decentralised
• Product
  • DCS
  • SCADA
  • PLC
  • MES
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing global demand for healthcare services
• Improved data security in industrial automation
• Growing demand for improved quality of products and services in life sciences

However, the market also witnesses some limitations, which are as follows:

• Infrastructural and integration issues associated with industrial automation
• Lack of intent for automation process in life sciences industry
• Lack of expertise in industrial automation in life sciences industry

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Market Scope in Industrial Automation Market In Life Sciences Industry Research Report

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Research Analysis Overview

In the life sciences industry, the industrial automation market is witnessing significant advancements driven by IoT, AI, and augmented reality. Semiconductor chips, Industry 4.0, cyber-physical systems, and cloud computing are key technologies fueling this growth. SMEs are benefiting from IIoT, wireless sensors, Industrial I/O, motion control, industrial web panels, industrial monitors, and control systems. Turbocharging, Programmable Logic Controllers, 5G wireless technology, and robotics are also playing crucial roles. Artificial intelligence and automation are transforming manufacturing, material handling, and networking architectures in the industrial sector.

Market Research Overview

The Industrial Automation Market in the Life Sciences Industry is a significant segment of the larger global electrical components and equipment market. This market encompasses businesses specializing in automation solutions, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, and HVAC for life sciences applications. Technavio's calculation of the global electrical components and equipment market size includes the combined revenue generated by manufacturers of these products and those offering renting and leasing services. Emerging technologies such as machine learning, digital twin, edge computing, and wireless sensors are transforming this market, enabling enhanced efficiency, predictive maintenance, and real-time monitoring in life sciences operations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/