The Factory automation standardizes industrial procedures and guarantees dependable, superior-quality results; therefore, it has a great requirement in industries for well-organized, high-quality manufacturing. Furthermore, it fulfills the requirement for mass production in industries owing to features such as decreased human interference, augmented efficiency, and lower labor costs resulting in the minutest overall operating costs. The market for factory automation has a further boom up owing to the rising implementation of the Industry 4.0 trend and IoT motorized smart technologies.
According to the report analysis, ‘COVID-19 Impact on Global Industrial Automation Market By Technology (Supervisory Control &Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Human Machine Interface (HMI) and Programmable Automation Controller (PAC)); By End User (Machine Manufacturing, Oil & Gas, Aerospace & Electronics, Automotive & Transportation, Mining & Metals, Food & Beverage and Pharmaceuticals) and Region –Analysis of Market Size, Share, and Trends for 2014 – 2020 and Forecasts to 2030’ states that the worldwide Industrial Automation Market size was accounted at USD 183.35 billion in 2020 and is predicted to reach USD 408.39 billion by 2030, accounting a CAGR of 8.55% from 2020 to 2030. Due to the effective growth in the adoption of process automation across diverse industries likewise automotive, energy utilities and chemicals, the market is projected to see substantial growth over the review period. The businesses are intensely reducing labor and operating costs by automation, as well as disregarding human errors owing to the reliability and proficiency of the system.
By the end-user segment can be categorized into Machine Manufacturing, Oil & Gas, Aerospace & Electronics, Automotive & Transportation, Mining & Metals, Food & Beverage, and Pharmaceuticals. Mining and metals industries are projected to see the greatest rate of growth in process industries throughout the forecast duration. The mining and metals industry is anxious with mineral and metal deposit production and product producing. The metal industry delivers the processes for metalwork such as grinding, milling, spinning, and forging. In addition, Mining activities in remote and dangerous locations are challenging to conduct and to preserve. Machinery utilized in metal processing requirement fast and proficient movement of metals with precision-propelled by drives and PLCs. Drives deliver accurate speed and torque control while PLCs deliver procedure versatility. It delivers greater efficiency, ensures fortification, minimizes wear, improves reliability, and enhances quality owing to the introduction of automation in this location.
Not only has this, the market is projected to see substantial growth over the review period due to the increasing adoption of procedure automation around diverse industries such as automotive, energy utilities, and chemicals. The businesses are dramatically decreasing labor and operating costs by automation, as well as disregarding human errors owing to the reliability and effectiveness of the system. Moreover, the effective growth in the adoption of industrial robots in the manufacturing industry to cater to increasing population requirement is boosting the industrial automation market. Also, the market is projected to expand owing to government initiatives towards industrial automation implementation.
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Ankur Gupta, Head Marketing & Communications