by Industrial automation and control systems refer to the use of computers and information technology in industrial processes and manufacturing plants to achieve increased productivity and quality. These systems are used in various industries such as oil and gas, chemical, metal and mining, food and beverages, pharmaceutical, power generation and utilities among others. They help in improving operational efficiency by reducing human errors and downtime through centralized monitoring and remote access. Some key products involved include distributed control systems (DCS), supervisory control and data acquisition (SCADA) systems, programmable logic controllers (PLC), human–machine interface (HMI) and manufacturing execution systems (MES). These control systems plays a vital role in optimizing production processes, improving quality control and enhancing process visibility.
The global Industrial Automation and Control Systems Market is estimated to be valued at US$ 201.06 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the Global Industrial Automation And Control Systems Market Size is the growing adoption of automation in manufacturing industries. There has been a significant rise in the demand for automation solutions from industries such as automotive, electronics, food and beverages, and pharmaceuticals in order to improve productivity and minimize production costs. Automation helps in eliminating manual errors, achieving better throughput, reducing maintenance downtime and ensuring product quality. Moreover, increasing focus on Industry 4.0 standards is further accelerating the demand for advanced technologies such as IoT, cloud computing, AI and machine learning in industrial applications. Integration of these technologies is enabling real-time data analytics, predictive maintenance and remote operations of industrial facilities. This is supporting industries to enhance operational efficiencies and gain a competitive advantage.
Segment Analysis
The industrial automation and control systems market is segmented into hardware, software, and services. The hardware segment is dominating the market presently owing to high demand for industrial robots, sensors, controllers, and drives to automate manufacturing processes. Industrial robots dominate the hardware segment and account for over 30% of the segment size currently due to high demand from automotive, electronics, and pharmaceutical industries.
PEST Analysis
Political: Governments across regions are supporting industrial automation to boost manufacturing competitiveness. They offer subsidies and tax benefits for adopting advanced control systems.
Economic: Industrial automation enhances productivity and quality which helps reduce costs for manufacturers. This drives investments in control systems from industries aiming for better returns.
Social: Younger workforce prefers automated work environments as they involve less manual labor and risks. This encourages industries to automate suiting the changing demographics.
Technological: Emerging technologies like AI, IoT, cloud computing are integrating with control systems. This enhances their capabilities for remote monitoring, predictive maintenance, and data-driven decision making.
Key Takeaways
The global industrial automation and control systems market is expected to witness high growth over the forecast period. The global Industrial Automation and Control Systems Market is estimated to be valued at US$ 201.06 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Regional analysis
Asia Pacific region accounts for over 35% of the global market share currently led by China, India, and Japan. China dominates owing to presence of a large manufacturing sector and government support for adopting industrial automation.
Key players
Key players operating in the industrial automation and control systems market are LG Chem, Hanmi Pharmaceutical Co., Ltd., Boryung Pharmaceutical Co., Ltd., Novartis AG, EirGenix, Inc., Biocon Limited, G.L. Pharma GmbH, Daewoong Pharmaceutical Co., Ltd., Sandoz International GmbH, Boryung Pharmaceutical Co., Ltd., VHB Life Sciences Limited, HanAll Biopharma, Taiba Healthcare, Huons Co., Ltd., Dong-A ST Co., Ltd. LG Chem is a leading player owing to its wide product portfolio and global footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
