Latest News- Industrial Automation Market: SCADA is expected to lead the Product segment during 2025-2029

The Industrial Automation Market is being driven by Changing market dynamics

The Industrial Automation Market is expected to grow at a CAGR of 10% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 124.9 billion. Industrial automation solutions play a pivotal role in managing and controlling manufacturing plant operations. Open-architecture automation software provides businesses with the flexibility to configure and customize its functionality, enabling Original Equipment Manufacturers (OEMs) to enhance their product offerings and expand connectivity options. This open platform allows users to utilize various runtime platforms, such as industrial PCs and operating panels, while also integrating third-party scripting tools and network controls. The open-architecture platform's flexibility is further amplified through the provision of scripting tools, interface applications, development libraries, and front- and back-end applications. This freedom to choose and customize enhances operational efficiency and reduces interoperability issues. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • SCADA
  • PLC
  • DCS
  • Drives
  • Sensors
• End-user
  • Process industry
  • Discrete industry
• Type
  • Fixed automation
  • Programmable automation
  • Flexible and integrated automation
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • 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: 

• Changing market dynamics
• Need for simplification of complex manufacturing activities
• Increasing focus on smart factories

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

• Technical challenges
• Lack of effective interoperability
• Exposure to cybersecurity threats

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Market Scope in Industrial Automation Market Research Report

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Research Analysis Overview

The industrial automation market encompasses various sectors, including manufacturing and healthcare, where robotics and artificial intelligence (AI) are revolutionizing automation processes. Productivity enhancement, labor cost reduction, and networking architectures are key drivers. IIoT, AI, machine learning, and sensors (temperature, humidity, torque) are transformative technologies. Material handling, mobility, cloud, analytics, and 5G wireless technology are also integral components. Robotics and AI applications span industries like transportation, mining and metal, aerospace and defense, and product sectors.

Market Research Overview

The industrial automation market encompasses the robotics, artificial intelligence, and material handling sectors, contributing significantly to the global electrical components and equipment market. This market caters to the manufacturing industry, focusing on enhancing productivity and reducing labor costs through advanced automation solutions. The electrical components and equipment market size is determined by the revenue generated from the production of water heaters and accessories, motors, motor control, encoder and amplifier, automation systems, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the market includes the rental and leasing of electrical components and equipment to industrial, commercial, and residential clients.. 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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Email: media@technavio.com
Website: www.technavio.com/