The Industrial Automation Market was valued at approximately USD 224 billion in 2023 and is expected to grow at a substantial CAGR of around 9% during the forecast period 2024-2032

Industrial automation is a process in manufacturing where control of the various operations, products, and processes is done by using trustworthy advanced systems with limited interference from employees.

This research aimed at understanding the major trends that enable industries to seek automation solutions in their processes High labor costs and increase of competition in the global market are among the main reasons why industries seek solutions for automation in their processes.

AI, IoT, and cloud-based solutions are being adopted to make supply chain management more efficient, real-time, and predictive maintenance.

Cobots and edge computing are now growing popular to improve operational agility and fluent automation system integration.

increasing the efficiency of the processes, cutting costs, and increasing effectiveness in business operations. It helps companies to satisfy customer needs for increased product differentiation, delivery time, and quality as well as reduce energy consumption. Moreover, the increase in the application of new technologies, including the automation of work by Artificial Intelligence in organizational activities, will continue to dictate change in the redesign of business processes and structures. Furthermore, leading players have actively integrated mergers & acquisitions and joint ventures as important strategic moves to sustain the competition in the global market. In April 2024, Lear Corporation a global automotive technology leader in Seating and E-Systems, acquired WIP Industrial Automation (“WIP”). The acquisition builds upon Lear’s successful integration of ASI Automation, Thagora Technology SRL, and InTouch Automation as part of IDEA by Lear, the next phase of the company’s strategy to utilize technology and innovation to develop products and extend its leadership in operational excellence.

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According to the report, the impact of industrial automation has been identified to be high for the North American area. Some of how this impact has been felt include:

North America is expected to grow with a considerable CAGR in the forecast period due to the advancement in technology and globalization of industries. Industry 4.0 with a mature manufacturing background is improving production efficiency relating to products and services in industrial markets. It is becoming apparent that organizations are using automation solutions to overcome the shortage of labor, increase the level of safety, and strengthen their position in the global market. For instance, on May 6, 2024, Comau is spearheading the Power of Automation with new digital-driven, advanced robotic, and powerful AI-backed automation solutions, unveiled at Automate, North America’s leading automation show. The region exhibits a robust inclination towards research activities that contribute to development, especially regarding automation solutions such as robotics and artificial intelligence.

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Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2024−2032.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis By Component, By Type, By Industry, By Application, By Region/Country

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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