Global Industrial Automation Market Analysis

Market Overview

The global industrial automation market has experienced steady revenue growth, with a CAGR of 2.1% from USD 447.13 billion in 2020 to USD 475.58 billion in 2023. Projections suggest a CAGR of 5.3% from 2023 to 2028, reaching USD 615.17 billion by 2028. This growth is driven by industry and energy sector transformations, increasing profit pressures, and the need to remain competitive and meet evolving market demands. Automation is viewed as essential for productivity enhancement, cost reduction, and operational efficiencies.

The industrial automation market can be categorized into service types, namely consulting services, cybersecurity services, digital services, lifecycle services, oilfield services, project services, and others. The segment pertaining to Digital Services has witnessed a substantial revenue of USD 2.31 billion in 2022. Furthermore, it is anticipated to attain a remarkable growth rate of 15.3% over the forecast period from 2023 to 2028, ultimately reaching a revenue of USD 5.34 billion by 2028.

The industrial automation market includes sectors such as Aerospace & Defense, Automotive, Food & Beverages, Life Sciences, Oil & Gas, Power, Semiconductor, and others. The Life Sciences segment’s revenue grew from USD 15.87 billion in 2020 to USD 18.54 billion in 2023, with a CAGR of 5.3%, and is expected to reach USD 25.52 billion in 2028 with a CAGR of 6.6%. Knowledge-intensive industries embrace digitalization and seek strategic technological partnerships, while capital-intensive sectors have potential for digital asset enhancement but show reluctance towards digital annuities due to cost concerns and unclear ROI. However, some are open to cloud-based solutions with clear ROI benefits.

The valuation of the North America amounted to USD 120.95 billion in 2022 and is projected to reach USD 166.01 billion by 2028. Conversely, the Asia-Pacific region is anticipated to exhibit a higher CAGR of 5.9% during the forecasted period from 2023 to 2028.

The top players operating in the global industrial automation market include Siemens AG, ABB, Ltd., Emerson Electric Co., Schneider Electric SE, Rockwell Automation, Inc., Honeywell International Inc., Yokogawa Electric Corporation, Omron Corporation, Hitachi, Ltd., FANUC Corporation, among others.

This study aims to analyze the global market for various segments of industrial automation, including:
Product Type: Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), Valves, Sensors and Transmitters, Non-Destructive Testing, Asset Performance Management (APM), Cybersecurity Hardware, Product Lifecycle Management (PLM), Supervisory Control and Data Acquisition (SCADA), Flowmeters, Manufacturing Execution Systems (MES), Services, and Others (Configuration Management Software, Configuration Management Hardware, Advanced Process Controllers, Machine Safety Systems, Enterprise Asset Management, Vision Systems, Operator Training Systems, and others).
The Service Categories are further subdivided into the following items: Oilfield Services, Project Services, Lifecycle Services, Consulting Services, Cybersecurity Services, Digital Services, and Other Services (Education & Training, Technical Support, Hardware Repair, Annual Calibration, and Others).
End-User: Oil & Gas, Petrochemicals, Power, Water, Mineral, Paper, Life Sciences, Food & Beverages, Equipment, Semiconductor, Automotive, Aerospace & Defense, and Others.
Region: North America (USA, Canada, and Mexico), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia Pacific), Latin America (Brazil and Rest of Latin America), and Middle East and Africa (Turkey and Rest of MEA).

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 4
Part 1. Key Findings 7
Part 2. Scope and Methodology 8
Report Scope 9
Product Type 9
End-User 9
Region 10
Research Methodology 12
Part 3. Industrial Automation Market Overview 14
Summary 14
Introduction 17
Part 4. Market Dynamics 20
Market Drivers 20
Technology Trends 21
Restraints and Challenges 36
Opportunities 37
Market Trend 43
Part 5. Global Industrial Automation Market by Product Type 48
Part 6. Global Industrial Automation Market by Services Type 51
Part 7. Global Industrial Automation Market by End-User 54
Aerospace & Defense 55
Automotive 56
Equipment 57
Food & Beverages 59
Life Sciences 59
Mineral 60
Oil & Gas 61
Paper 62
Petrochemicals 62
Power 63
Semiconductor 63
Water 63
Part 8. Global Industrial Automation Market by Region 65
North America 68
Europe 71
Asia-Pacific 74
Latin America 77
Middle East and Africa 80
Part 9. Competitive Analysis 82
Competition Overview 82
Recent Developments 85
Siemens AG 88
Business Overview 88
Contact Information 90
ABB, Ltd. 91
Business Overview 91
Contact Information 94
Emerson Electric Co. 95
Business Overview 95
Contact Information 98
Schneider Electric SE 99
Business Overview 99
Industrial Automation Business 101
Contact Information 103
Rockwell Automation, Inc. 104
Business Overview 104
Contact Information 107
Honeywell International Inc. 108
Business Overview 108
Contact Information 111
Yokogawa Electric Corporation 112
Business Overview 112
Industrial Automation and Control Business 114
Contact Information 115
Omron Corporation 116
Business Overview 116
Industrial Automation Business (IAB) Business 119
Contact Information 120
Hitachi, Ltd. 121
Business Overview 121
Contact Information 122
FANUC Corporation 123
Business Overview 123
Contact Information 125
Disclaimer 126
FIGURES AND TABLES
Global Industrial Automation Market, Net Growth, 2020-2028 (USD Billion)
Global Industrial Automation Market by Product Type, 2020-2028 (USD Billion)
Global Industrial Automation Market by Product Type, CAGR Historic and Forecast, 2020-2028
Global Industrial Automation Market by Services Type, 2020-2028 (USD Billion)
Global Industrial Automation Market by Services Type, CAGR Historic and Forecast, 2020-2028
Global Industrial Automation Market by End-User, 2020-2028 (USD Billion)
Global Industrial Automation Market by End-User, CAGR Historic and Forecast, 2020-2028
Global Industrial Automation Market Share by Region, 2022
Global Industrial Automation Market by Region, 2020-2028 (USD Billion)
Global Industrial Automation Market by Region, CAGR Historic and Forecast, 2020-2028
North America Industrial Automation Market, Net Growth, 2020-2028 (USD Billion)
North America Industrial Automation Market Share by Country, 2022
Europe Industrial Automation Market, Net Growth, 2020-2028 (USD Billion)
Europe Industrial Automation Market Share by Country, 2022
Asia-Pacific Industrial Automation Market, Net Growth, 2020-2028 (USD Billion)
Asia-Pacific Industrial Automation Market Share by Country, 2022
Latin America Industrial Automation Market, Net Growth, 2020-2028 (USD Billion)
Latin America Industrial Automation Market Share by Country, 2022
Middle East and Africa Industrial Automation Market, Net Growth, 2020-2028 (USD Billion)
Middle East and Africa Industrial Automation Market Share by Country, 2022
Global Industrial Automation Market Share, by Top Company, 2022
Key Players in Industrial Automation Value Chain
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 2022
ABB, Ltd. Financial Overview (USD Million)
ABB, Ltd. Revenue, by Type, 2022
ABB, Ltd. Revenue, by Segment, 2022
ABB, Ltd. Revenue, by Product, 2022
ABB, Ltd. Revenue, by Region, 2022
Emerson Electric Co. Financial Overview (USD Million)
Emerson Electric Co. Revenue, by Segment, 2023
Emerson Electric Co. Intelligent Devices Revenue, by Segment, 2023
Emerson Electric Co. Software and Control Revenue, by Segment, 2023
Schneider Electric SE Financial Overview (EUR Million)
Schneider Electric SE Revenue, by Segment, 2022
Schneider Electric SE Industrial Automation Revenue (EUR Million)
Schneider Electric SE Industrial Automation Revenue, by Region, 2022
Rockwell Automation, Inc. Financial Overview (USD Million)
Rockwell Automation, Inc. Revenue, by Segment, 2023
Rockwell Automation, Inc. Revenue, by Type, 2023
Rockwell Automation, Inc. Revenue, by Region, 2023
Honeywell International Inc. Financial Overview (USD Million)
Honeywell International Inc. Revenue, by Segment, 2022
Honeywell International Inc. Revenue, by Industry, 2022
Honeywell International Inc. Revenue, by Region, 2022
Yokogawa Electric Corporation Financial Overview (JPY Million)
Yokogawa Electric Corporation Revenue, by Segment, 2023
Yokogawa Electric Corporation Revenue, by Region, 2023
Yokogawa Electric Corporation Industrial Automation and Control Revenue (JPY Million)
Omron Corporation Financial Overview (JPY Billion)
Omron Corporation Revenue, by Segment, 2023
Omron Corporation Revenue, by Region, 2023
Omron Corporation Industrial Automation and Control Revenue (JPY Billion)
Omron Corporation Industrial Automation Business (IAB) Revenue, by Business Domains and by Product, 2023
Hitachi, Ltd. Financial Overview (JPY Billion)
FANUC Corporation Financial Overview (JPY Billion)
FANUC Corporation Revenue, by Segment, 2023
FANUC Corporation Revenue, by Region, 2023