New York, Nov. 28, 2023 (GLOBE NEWSWIRE) — The global industrial automation and control system market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 9.3%. The market value is anticipated to soar from US$165.1 billion in 2023 to an impressive US$307.7 billion by the end of 2030. This surge is driven by the increasing demand for enhanced operational productivity, efficiency, and the integration of Industry 4.0 practices across diverse industrial sectors.
Industrial automation and control systems are intricate combinations of software and hardware meticulously designed to optimize industrial operations. These systems encompass technologies like distributed control systems (DCS), programmable logic controllers (PLCs), and sophisticated software solutions. Their primary goal is to enhance safety, efficiency, and precision in industrial and manufacturing environments by automating labor-intensive tasks.
In the dynamic twenty-first-century business environment, the adoption of IACS is crucial for achieving operational excellence. It facilitates real-time data acquisition, control, and surveillance, ushering in a fundamental shift towards intelligent manufacturing processes and smart factories.
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|Market Revenue 2023
|Estimated Revenue 2030
|Growth Rate – CAGR
|No. of Pages
|By Component , Technology End-Use Industry , Region
|North America Europe ,East Asia South Asia & Oceania Latin America Middle East & Africa
|Key Companies Profiled
|Siemens AG ,Rockwell Automation, Inc. ,Schneider Electric SE ,ABB Ltd. ,Emerson Electric Co. ,Honeywell International Inc., Yokogawa Electric Corporation,General Electric Company ,Mitsubishi Electric Corporation Omron Corporation
Key Takeaways from the Industrial Automation and Control System Market Research Report:
- The global industrial automation and control system market is expected to reach US$307.7 billion by 2030, expanding at a CAGR of 9.3% from 2023 to 2030.
- The significant expansion of the worldwide industrial automation and control system market can be attributed to the rising need for improved operational productivity and efficiency.
- North America is the largest market for industrial automation and control systems, accounting for over 35% of the global market.
- Europe is the second-largest market for industrial automation and control systems, accounting for over 30% of the global market.
- Asia Pacific is the fastest-growing market for industrial automation and control systems, with a CAGR of over 10%.
- The rise of Industry 4.0 and the Industrial Internet of Things (IIoT) is a key trend that is shaping the industrial automation and control system market.
- The growing demand for smart manufacturing solutions is another key trend that is driving the growth of the market.
- The increasing adoption of robotics and other autonomous systems is also a key trend that is impacting the market.
- The need for improved cybersecurity in industrial control systems is a growing concern that is influencing the market.
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Industrial Automation and Control System Market Growth Factors
The growth of the Industrial Automation and Control System (IACS) market is influenced by several key factors that collectively contribute to its expansion. These factors encompass technological advancements, market trends, and the evolving needs of industries seeking to enhance efficiency and productivity. Here are the primary growth factors:
Rising Need for Improved Operational Productivity and Efficiency: The relentless pursuit of improved operational productivity and efficiency across industries is a major driver for the IACS market. Organizations are under constant pressure to streamline operations, reduce errors, and achieve a competitive edge by leveraging automation to optimize their processes.
Industry 4.0 Practices and Digital Transformation: The adoption of Industry 4.0 practices, characterized by the integration of digital technologies such as data analytics, artificial intelligence, and the Internet of Things (IoT), is a significant growth factor. Industry 4.0 revolutionizes manufacturing processes, fostering intelligent factories with autonomous decision-making capabilities.
Cost Reduction in Industrial Processes: The ongoing need for cost reduction in industrial processes is a driving force behind the adoption of IACS. By automating labor-intensive tasks, monitoring manufacturing parameters, and optimizing resource utilization, industries can achieve significant cost savings in areas such as energy consumption, waste reduction, and predictive maintenance.
Regulatory Compliance and Workplace Safety: Increasing emphasis on regulatory compliance and workplace safety standards is motivating businesses to invest in sophisticated automation solutions. IACS plays a crucial role in ensuring adherence to safety protocols, minimizing risks, and meeting regulatory requirements, particularly in industries dealing with critical infrastructure.
Integration of Artificial Intelligence and Machine Learning: The expanding use of artificial intelligence (AI) and machine learning (ML) in industrial settings presents new opportunities for IACS providers. These technologies enable advanced analytics, predictive maintenance, and data-driven decision-making, contributing to increased efficiency and operational effectiveness.
Digital Transformation and Smart Factories: The ongoing trend of digital transformation, marked by the integration of technologies like AI, machine learning, and data analytics, is reshaping industrial landscapes. IACS-enabled smart factories are becoming prevalent, fostering a more adaptable and interconnected industrial ecosystem.
The Industrial Automation and Control System (IACS) market faces several challenges that impact its development of the market. Here are key challenges faced by the IACS market:
Persistent Cybersecurity Threats: The increasing dependence on interconnected and digitally powered systems within IACS raises concerns about cybersecurity threats. The complex network of sensors, controllers, and software is vulnerable to malicious intrusions, leading to potential disruptions in production, financial losses, and compromises in safety protocols.
Interoperability Obstacles: The diverse and heterogeneous nature of industrial processes often involves a mix of legacy systems, proprietary technologies, and various communication protocols. Achieving seamless interoperability among these components becomes challenging due to the absence of standardized interfaces and communication protocols. This results in operational inefficiencies, heightened complexity, and increased implementation expenses.
Legacy System Integration: Many industries still operate with legacy systems that were not designed to be easily integrated with modern automation technologies. Upgrading or integrating these legacy systems with advanced IACS can be a complex and costly process, hindering the adoption of automation in certain sectors.
The Industrial Automation and Control System (IACS) market is segmented by component, end-use industry, and region.
Segmentation by Component
Hardware: Hardware components include programmable logic controllers (PLCs), distributed control systems (DCSs), supervisory control and data acquisition (SCADA) systems, human-machine interfaces (HMIs), and sensors.
Software: Software components include industrial software, such as manufacturing execution systems (MES), enterprise resource planning (ERP) systems, and product lifecycle management (PLM) systems.
Services: Services include system integration, consulting, training, and maintenance.
Segmentation by End-Use Industry
Manufacturing: The manufacturing industry is the largest end-use industry for IACS, accounting for over 30% of the market. The demand for IACS in the manufacturing industry is driven by the need to improve productivity, quality, and safety.
Oil and Gas: The oil and gas industry is the second-largest end-use industry for IACS, accounting for over 20% of the market. The demand for IACS in the oil and gas industry is driven by the need to improve efficiency, safety, and environmental compliance.
Power Generation: The power generation industry is the third-largest end-use industry for IACS, accounting for over 15% of the market. The demand for IACS in the power generation industry is driven by the need to improve efficiency, reliability, and safety.
Other End-Use Industries: Other end-use industries for IACS include water and wastewater treatment, pharmaceuticals, food and beverage, and chemicals.
Segmentation by Region
North America: North America is the largest regional market for IACS, accounting for over 35% of the market. The demand for IACS in North America is driven by the strong manufacturing and oil and gas industries in the region.
Europe: Europe is the second-largest regional market for IACS, accounting for over 30% of the market. The demand for IACS in Europe is driven by the large and diverse manufacturing industry in the region.
Asia Pacific: Asia Pacific is the fastest-growing regional market for IACS, with a CAGR of over 10%. The demand for IACS in Asia Pacific is driven by the rapid industrialization in the region.
Other Regions: Other regions include the Middle East and Africa (MEA) and Latin America.
Opportunities for New Entrants in the Industrial Automation and Control System Market:
Focus on niche markets: New entrants can differentiate themselves from established players by focusing on specific niche markets within the industrial automation and control system industry. This could involve developing solutions for specific industries, such as oil and gas, food and beverage, or pharmaceuticals.
Develop innovative solutions: New entrants can also compete by developing innovative solutions that address the challenges of current industrial automation and control systems. This could involve developing solutions that are more efficient, more reliable, or more secure.
Provide specialized services: New entrants can also provide specialized services to industrial automation and control system users. This could involve providing consulting services, training services, or integration services.
Partner with established players: New entrants can partner with established players in the industrial automation and control system industry to gain access to resources and expertise. This could involve partnering with distributors, system integrators, or end users.
Key Developments in the Industrial Automation and Control System Market:
The industrial automation and control systems (IACS) market is rapidly evolving, with a growing focus on digitalization, connectivity, and artificial intelligence (AI). These advancements are driving a wave of innovation and transformation across the industry, leading to new product developments, mergers and acquisitions, and strategic partnerships.
Digitalization: The adoption of digital technologies is transforming the IACS market, enabling real-time data insights, predictive maintenance, and remote monitoring. This is leading to increased efficiency, productivity, and safety in industrial operations.
Connectivity: The rise of industrial IoT (IIoT) is connecting industrial assets and systems, enabling the collection and analysis of vast amounts of data. This data is being used to optimize processes, improve decision-making, and develop new applications.
Artificial Intelligence (AI): AI is being integrated into IACS to automate tasks, improve decision-making, and enable predictive maintenance. AI-powered systems can analyze complex data patterns, identify anomalies, and make recommendations to prevent downtime and improve performance.
Notable Mergers and Acquisitions in the IACS Market
Schneider Electric acquires Aveva: In 2023, Schneider Electric announced the acquisition of Aveva, a leading provider of industrial software solutions. This merger will create a global leader in industrial automation and digital transformation.
Rockwell Automation acquires Plex Systems: In 2021, Rockwell Automation acquired Plex Systems, a provider of manufacturing execution systems (MES) software. This acquisition strengthens Rockwell Automation’s position in smart manufacturing and Industry 4.0.
Emerson Electric acquires OSI Soft: In 2020, Emerson Electric acquired OSI Soft, a provider of real-time data management software. This acquisition expands Emerson’s portfolio of industrial software solutions.
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