Industrial Automation Market poised to attain US$ 51 Bn by 2026 at 7.0% CAGR by 2032, Says FMI – PRNewswire

DUBAI, UAE, Feb. 22, 2022 /PRNewswire/ -- The globalIndustrial Automation Marketis expected to have a significant CAGR of 7% during the forecast period to reach a valuation of US$ 51 Bn by 2026, up from US$ 36 Bn in 2021.

The efficient flow of information across multiple units in anindustryallows for the most efficient conversion of raw materials to completed goods, emphasizing the importance of the connected enterprise system, which is a primary driver for theindustrial automationmarket.

Attributes

Details

Industrial Automation Market CAGR (2022 2032)

7%

Industrial Automation Market (2026)

US$ 51 Bn

Industrial Automation Market Attraction

Demand for real-time analysis of data to underpin growth of the market.

Theindustrial automation market growthcan be attributed to rising demand for real-time data analysis across geographies and increased adoption of cutting-edge technology across end-use industries to improve performance.

The significance of predictive maintenance and asset management solutions, which provide users with better visibility into their equipment condition, is accelerating thedemand for industrial automation solutions.

The efficient flow of information across different units in an industry allows for the most efficient conversion of raw materials to finished goods, highlighting the significance of the connected enterprise system, which augurs well forindustrial automation market future trends.

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Industrial automation solutions adoption trendsare likely to be favoured by governments across the world as they are focusing on the development of process and distinct industries by launching a variety of initiatives and plans backed by investments to boost productivity.

Manufacturers can gain real-time access to plant floor data enabled byindustrial computing and automationtechnologies, which helps them centralize business data and multi-plant operations, thereby surging thesales of the industrial automation solutions.

As per the industrial automation market study, theindustrial automation market sizeis estimated to be aboutUS$ 51 Bnby 2026.

Key Takeaways:

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"The Asia Pacific region controls most of the global industrial automation market. The market is expanding positively and is expected to continue doing so on account ofsmart manufacturing and automation, and integration with the current manufacturing environment. Furthermore, the growing number of application areas, as well as the strong presence ofindustrial automation services companiesand the developing economies of Asian countries, all contribute to the market's growth." says an FMI researcher.

Competitive Landscape:

The industrial automation market appears to be highly competitive. Several well-established machine automation technologies providers form a solid competitive landscape.

These market participants attempt to maintain their positions by investing in collaboration, mergers and acquisitions, partnerships, product/technology launches, and expansion.

These strategies assist market participants in gaining a more significantindustrial automation market shareand meeting their expansion plans. They are primarily concerned with newtechnology advancements in industrial automation.

The market would be subjected to constant innovations and developments, intensifying competition amongtop industrial automation system integrators.

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Recent Developments in the Industrial Automation Marketinclude:

Key Segments

By Deployment:

By Component:

By End-use Industry:

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Key Questions Answered in the Report

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About Future Market Insights (FMI)

Future Market Insights (FMI)is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latestmarket research reportsand industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized andsyndicated market research reportsdeliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Industrial Automation Market poised to attain US$ 51 Bn by 2026 at 7.0% CAGR by 2032, Says FMI - PRNewswire