Industrial Automation Market Overview:
The Industrial Automation market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Industrial Automation Market, as well as the causes for variances in the industry’s growth in different areas.
Expected Revenue Growth:
Industrial Automation Market was valued at USD 133.10 Billion in 2021, and it is expected to reach USD 217.2 Billion by 2029, exhibiting a CAGR of 8.5 % during the forecast period (2022-2029).
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Industrial Automation Market Scope:
To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
This Industrial Automation market report covers new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and product approvals, product launches. To learn more about Maximize Market Research window sensors market, please contact us for an Analyst Brief; our experts will assist you in making an informed market choice to achieve your goals.
Industrial Automation Market Segmentation:
The industrial sensors segment is anticipated to hold the highest share of the market for industrial automation components in the Middle East and Africa throughout the course of the forecast period. The growth of the industrial sensors market is being driven by the rising adoption of Industry 4.0 and IIoT, as well as the expansion of the wireless sensor market. Industrial sensors are frequently used in the manufacturing sector, especially to strengthen connections between various tasks. Manufacturers from all around the world have started integrating sensors to collect data in real time from various data points. Since predictive maintenance is anticipated to present profitable prospects through sensor data capture in the upcoming years, sensors as an essential component of predictive maintenance solutions are predicted to have a rapid growth in demand.
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Key Competitors:
The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Industrial Automation market are
• ABB Ltd.(Switzerland)
• Honeywell International Inc.(US)
• FANUC Corporation(Japan)
• Yaskawa Electric Corporation(Japan)
• Toshiba Machine Corporation Ltd.(Japan)
• Yokogawa Electric Corporation(Japan)
• Emerson Electric Company(US)
• General Electric Company(US)
• Rockwell Automation, Inc.(US)
• Mitsubishi Electric Corporation(Japan)
• Voith GmbH(Germany)
• GE Company(US)
• Honeywell International Incorporation(US)
• Omron Corporation(Japan)
Regional Analysis:
The region portion of the Industrial Automation market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.
COVID-19 Impact Analysis on Industrial Automation Market:
Following the outbreak of the pandemic, end-user sectors where Industrial Automation are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Industrial Automation manufacturers, influencing the growth of the Industrial Automation market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Industrial Automation from end-user businesses has decreased significantly.
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Key Questions answered in the Industrial Automation Market Report are:
- Which are the major companies in the Industrial Automation market?
- Which is the potential market for Industrial Automation in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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