Meticulous Research®—a leading global market research company, has published a report titled ‘Industrial Automation Market by Offering (Solutions (Enterprise-level Controls, Plant Instrumentation, Plant-level Controls), Services), Mode of Automation, End-use Industry (Oil & Gas, Automotive, Food & Beverage), and Geography - Global Forecast to 2031.’



According to Meticulous Research®, the global industrial automation market is expected to reach $368.05 billion by 2031, growing at a CAGR of 9.1% from 2024 to 2031. The market is driven by government initiatives promoting industrial development, increasing investments in automation, the rising demand for energy-efficient systems, and the need for supply chain optimization. However, high CAPEX requirements and workforce displacement concerns hinder growth. Nonetheless, the demand for sustainable solutions offers growth opportunities, though cybersecurity risks pose challenges.



The market is segmented by offering, mode of operation, and end-use industry. It also evaluates end-user industry competitors and provides region/country-level analysis.



Based on offering, the market is divided into solutions and services. In 2024, the solutions segment is expected to dominate and register the highest CAGR. This is due to the high adoption of PLM, ERP, and MES solutions, increased demand for data analytics and predictive maintenance, and the emergence of Industry 4.0.



Based on the mode of automation, the market is segmented into semi-automatic and fully-automatic systems. In 2024, the semi-automatic systems segment is expected to hold the largest share, attributed to lower implementation costs and the need for flexibility. However, the fully-automatic systems segment is expected to grow the fastest due to the need to increase production capabilities, reduce workplace risks, and optimize supply chains.



Based on the end-use industry, the market is segmented into various sectors, with the oil & gas segment expected to hold the largest share in 2024 due to the need to streamline operations and minimize environmental impact. The automotive segment is expected to grow the fastest due to technological advancements and the increasing adoption of AGVs and COBOTS.



Geographically, Asia-Pacific is expected to dominate the market in 2024 and register the highest CAGR, driven by the demand for advanced automation solutions and significant investments in robotics, AI, IoT, and digitalization.



Key Players:

The key players operating in the industrial automation market are ABB Ltd (Switzerland), Rockwell Automation Inc. (U.S.), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), KUKA AG (Germany), Emerson Electric Co. (U.S.), FANUC CORPORATION (Japan), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), Hitachi Ltd. (Japan), and General Electric Company (U.S.).



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Key questions answered in the report-

Which are the high-growth market segments based on offering, mode of operation, end-use industry, and geography?
What was the historical market for the industrial automation market?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the industrial automation market?
Who are the major players, and what shares do they hold in the industrial automation market?
How is the competitive landscape in the industrial automation market?
What are the recent developments in the industrial automation market?
What are the different strategies adopted by the major players in the industrial automation market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global industrial automation market, and how do they compete with the other players?

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