The global industrial automation and control systems market is expected to increase at a 10.3% compound annual growth rate (CAGR) from 2022 to 2030, reaching $377.25 billion by 2030, according to a new study by Research and Markets in Dublin.
The report, “Industrial Automation and Control Systems Market Report,” states this growth is attributed to the expanding adoption of process automation across various industries, such as automotive, energy utilities and chemicals. Other highlights of the report include:
- Industrial robots’ component-type segment is expected to grow fastest with a more than 10% CAGR due to increasing automation, smart factories and digitalization.
- Distributed control system (DCS) segment accounted the highest market share of more than 30% due to accelerating adoption of the Industrial Internet of Things (IIoT) solutions and components.
- Vertical healthcare segment is expected to grow at the highest rate of more than 10% CAGR due to increasing automation in surgeries and other health applications
- Asia/Pacific is expected to grow at the highest rate of more than 13% CAGR during the 2022-30 forecast period due to developing countries investing in automation and smart manufacturing.
For instance, the report adds that ABB secured a contract this past March to automate NatureWork’s greenfield plant in Thailand, and provide hardware, software and control room designs. Its report states that more manufacturers are turning to automation to reduce labor and operating costs, as well as minimizing human errors with increased reliability and efficiency.
Likewise, it reports that more industries are rapidly shifting towards smart manufacturing, which is expected to spur and expand the market for industrial control and automation systems, such as different types of robots. For example, ABB also launched it IRB 920T line in September to expand its range of selective compliance assembly robot arm (SCARA) devices. These robots are designed to suit the high-speed production requirements in the electronics sector in increasingly complicated manufacturing processes.
Research and Markets adds the Asia/Pacific region is also expected to gain strength due to its key players and emerging companies. These include longtime manufacturers Yokogawa Electric, Kawasaki Robotics and Mitsubishi Electric Factory Automation. Much of Asia/Pacific’s growth in automation and control can be attributed to increasing demand for better solutions to manage industrial plants in China and India. Also, emerging economies in Indonesia, Vietnam and Thailand have often untapped automation and control markets that are driving investment in manufacturing upgrades. Suppliers can extend their market positions and develop new revenue sources in these areas, according to Research and Markets. Conventional operations are evolving into smart facilities here, too, which is encouraging acceptance of automation.
