The automation industrial monitors global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automation Industrial Monitors Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automation industrial monitors market size has grown strongly in recent years. It will grow from $2.34 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing industrialization, regulatory compliance, cost reduction and efficiency improvement, globalization and supply chain management.
The automation industrial monitors market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to industry 4.0 and IoT integration, rapid digitalization, demand for touchscreen interfaces, remote monitoring and control, focus on energy efficiency . Major trends in the forecast period include augmented reality (AR) integration, customization and modular design, AI and machine learning integration.
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Scope Of Automation Industrial Monitors Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automation Industrial Monitors Market Overview
Market Drivers –
The growing popularity of smart factories is driving automation and industrial monitoring market growth. Smart factories refer to manufacturing facilities that leverage advanced technologies and data-driven solutions to optimize production processes, improve efficiency, and enhance productivity. Smart factories enhance operational efficiency, optimize production processes, and adapt to changing market demands through the integration of advanced technologies such as IoT, AI, and automation. Industrial monitors are the interface for monitoring, controlling, and visualizing production processes, providing real-time data insights, facilitating operator interaction, and enabling seamless integration with other automation systems and devices. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation Inc., a US-based industrial automation company, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either utilizing or planning to integrate artificial intelligence into their manufacturing operations. Additionally, 83% of manufacturing professionals will upgrade their modernization processes into smart factories. Therefore, the growing popularity of smart factories will drive the growth of the automation industrial monitor market.
Market Trends –
Major companies operating in the automotive communication technology market are focused on developing innovative facilities, such as centers of excellence, to stay relevant, competitive, and responsive to the evolving needs of consumers and the regulatory environment. This facility redefines innovation and customer satisfaction benchmarks, transforming the benchmark for intelligent communications in the automotive field. For instance, in February 2024, CallRevu LLC, a US-based software company, launched a center of excellence (COE) in the automotive communication technology sector to redefine innovation and customer satisfaction benchmarks. This initiative technology features an AI training prototype, enhanced security, operational efficiency, innovations, accessibility and inclusivity, and data analytics. and it reflects CallRevu’s commitment to integrating advanced technology with strategic partnerships, emphasizing a tech-agnostic philosophy that prioritizes top-quality, scalable, and relevant solutions.
The automation industrial monitors market covered in this report is segmented –
1) By Type: Screen Size Below 12, Screen Size Between 12-17, Screen Size Above 17
2) By Application: Process Industries, Discrete Industries
3) By End User: Automotive, Manufacturing, Electronic And Electrical, Other End-Users
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Regional Insights –
North America was the largest region in the automation industrial monitors market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation industrial monitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the automation industrial monitors market are Siemens AG, Mitsubishi Electric Corporation, Honeywell International Inc., ABB Group, Eaton Corporation plc, Emerson Electric Co., Rockwell Automation Inc., Danfoss A/S, Omron Corporation, FANUC Corporation, SMC Corporation, Yaskawa Electric Corporation, Festo AG & Co. KG, KUKA AG, Yokogawa Electric Corporation, Advantech Co. Ltd., National Instruments Corporation, OmniVision Technologies Inc., Beckhoff Automation GmbH & Co. KG, Kontron S&T AG, Barco NV, Pepperl+Fuchs GmbH, Sparton Corporation, AAEON Technology Inc., Axiomtek Co. Ltd., Edge Electronics LLC, RGB Spectrum, Computer Dynamics (CIMTEC Automation), Hope Industrial Systems Inc.
Table of Contents
1. Executive Summary
2. Automation Industrial Monitors Market Report Structure
3. Automation Industrial Monitors Market Trends And Strategies
4. Automation Industrial Monitors Market – Macro Economic Scenario
5. Automation Industrial Monitors Market Size And Growth
…..
27. Automation Industrial Monitors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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