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Posted by stephen005 on October 12, 2024 at 10:30am 0 Comments 0 Likes
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The global Industrial Automation And Control Systems Market size is anticipated to reach USD 377.25 billion by 2030, according to a new study by Grand View Research, Inc. The market is expected to reach at a CAGR of 10.5% from 2023 to 2030. The growth is attributed to the growing adoption of process automation in several industries, such as energy utilities, chemicals, and automotive. For instance, in April 2022, Kawasaki Heavy Industries, Ltd. established "Future Lab HANEDA" at HANEDA INNOVATION CITY, a substantial, multi-purpose complex with offices and retail facilities for the development of robotics products and services based on open innovation along with real-life implementation and demonstrations for their potential. This, in turn, is expected to drive market growth further during the forecast period.
Moreover, the companies are considerably reducing operational and labor costs, as well as significantly reducing errors associated with humans due to the system’s reliability and efficiency, which is projected to fuel the industrial automation and control systems market growth over the forecast period. The use of multiple robots as per need is expected to push the market growth further. For instance, in April 2022, Siemens AG unveiled the PXC7 smart automation controller, which is useful for large industrial buildings and speeds up engineering processes.
Asia Pacific is anticipated to emerge as the fastest-growing market owing to the presence of emerging companies along with key market players. Some notable regional players are Kawasaki Robotics, Mitsubishi Electric Factory Automation, and Yokogawa Electric Corporation. Furthermore, emerging economies such as Thailand, Vietnam, and Indonesia have huge potential with a largely untapped market that drives substantial investments to develop manufacturing plants. This, in turn, is expected to fuel the market growth across the region.
List of Key Players in the Industrial Automation And Control Systems Market
Related Press Release@ Industrial Automation And Control Systems Market Report
Industrial Automation And Control Systems Market Report Highlights
Report Attribute |
Details |
Market size value in 2022 |
USD 187.80 billion |
Revenue forecast in 2030 |
USD 377.25 billion |
Growth rate |
CAGR of 10.5% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Request For A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/774/rfc
Industrial Automation And Control Systems Market Segmentation
Grand View Research has segmented the global industrial automation and control systems market on the basis of component type, control system, vertical, and region.
Industrial Automation And Control Systems Component Type Outlook (Revenue, USD Billion, 2018 - 2030)
Industrial Automation And Control Systems Control System Outlook (Revenue, USD Billion, 2018 - 2030)
Industrial Automation And Control Systems Vertical Outlook (Revenue, USD Billion, 2018 - 2030)
Industrial Automation And Control Systems Regional Outlook (Revenue, USD Billion, 2018 - 2030)
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