Global Automation And Controls Market Analysis 2024: Size Forecast and Growth Prospects

The automation and controls 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 And Controls 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 and controls market size has grown rapidly in recent years. It will grow from $127.13 billion in 2023 to $139.8 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to industrial revolution, computerization, electrification programmable logic controllers (PLCs), digital revolution, internet of things (IoT).

The automation and controls market size is expected to see strong growth in the next few years. It will grow to $202.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to demand for smart manufacturing, rising labor costs and skills shortages, demand for remote monitoring and management, urbanization and infrastructure development, demand for smart manufacturing. Major trends in the forecast period include embrace of digital twins, technological advancements, augmented reality (AR) and virtual reality (VR), expansion of robotics and cobots, and integration of AI and machine learning.

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Scope Of Automation And Controls 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 And Controls Market Overview

Market Drivers –

The surge in demand for industrial automation is expected to propel the growth of the automation and control market going forward. Industrial automation refers to the use of robotics, machines, and control systems to perform tasks that were traditionally carried out by human workers. It is preferred because it enhances efficiency, productivity, safety, and reliability while reducing operational costs and human error. Automation and control systems are useful for industrial automation as they streamline operations, enhance precision and productivity, and enable consistent quality and safety in manufacturing processes. For instance, in October 2022, according to the International Federation of Robotics, a Germany-based non-profit organization focused on promoting robotics, factories worldwide installed 517,385 new industrial robots in 2021. This marks a 31% increase from the previous year. Therefore, the surge in demand for industrial automation is driving the growth of the automation and control market.

Market Trends –

Major companies operating in the automation and controls market are developing innovative products such as the MTConnect driver to secure their place in the market. This innovation aims to integrate CNC machines into the sophisticated IIoT automation ecosystem, enhancing thorough data analysis. For instance, in March 2022, Emerson Electric Co., a US-based engineering company, introduced the MTConnect driver for its Movicon. NExTTM 4.1.333 platform, enhances its industrial control offerings by enabling quick, simple integration and scalability. It enables the efficient collection and use of crucial data from manufacturing assets, such as machines, tools, and robots. Its integration aids in informed decision-making across both operational and enterprise levels. This read-only solution restricts the programming of axis-specific parameters but significantly broadens Movicon.NExT’s capacity to assimilate production data within manufacturing environments.

The aerospace support and auxiliary equipment market covered in this report is segmented –

1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space

Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite

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Regional Insights –

Asia-Pacific was the largest region in the automation and controls market in 2023. The regions covered in the automation and controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major companies operating in the automation and controls market are Hitachi Ltd., Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Group, Johnson Controls International PLC, Emerson Electric Co., Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Delta Electronics Inc., Rockwell Automation Inc., Bosch Rexroth AG, OMRON Corporation, Keyence Corporation, Fanuc Corporation, Dassault Systèmes SE, Fuji Electric Co. Ltd., Yaskawa Electric Corporation, KUKA AG, Yokogawa Electric Corporation, Phoenix Contact GmbH & Co. KG, Rittal GmbH & Co. KG, SICK AG, Advantech Co. Ltd., Beckhoff Automation GmbH & Co. KG, National Instruments Corporation, AVEVA Group PLC, B&R Industrial Automation GmbH, Universal Robots A/S

Table of Contents
1. Executive Summary
2. Automation And Controls Market Report Structure
3. Automation And Controls Market Trends And Strategies
4. Automation And Controls Market – Macro Economic Scenario
5. Automation And Controls Market Size And Growth
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32. Global Automation And Controls Market Competitive Benchmarking
33. Global Automation And Controls Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automation And Controls Market
35. Automation And Controls Market Future Outlook and Potential Analysis
36. Appendix

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