The Industrial Automation and Control Systems Market is estimated to be valued at US$ 174.53 Bn in 2023 and is expected to exhibit a CAGR of 9.0%   over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Industrial automation and control systems are used to automate industrial processes, manufacturing plants and infrastructures. They help to monitor, control, and optimize industrial processes and machinery. The main components of these systems include industrial sensors, programmable logic controllers (PLCs), human–machine interface (HMI) and scada systems. They find wide applications in industries such as oil and gas, chemical, food and beverage, pharmaceutical, automotive, semiconductor and electronics among others.

Market Dynamics:
The industrial automation and control systems market is driven by growing adoption of industrial IoT technologies across manufacturing industries. IoT allows machines and devices in industries to connect, collect data and communicate with each other autonomously. This helps organizations to remotely monitor industrial processes, predictive maintenance of equipment and optimize production processes. For instance, according to IMARC Group, the number of IoT connected devices is expected to increase from 7 billion in 2017 to over 25 billion by 2025. Second major driver is increasing focus of manufacturing industries on improving productivity through automation. Adoption of automation technologies such as robotics, PLCs, motion control systems help industries to reduce production cycle time, improve quality and maximize output. This is expected to propel the demand for industrial automation and control systems over the forecast period.
Segment Analysis
The Global Industrial Automation And Control Systems Market Size  can be segmented based on component, application, and geography. By component, the market is divided into industrial robots, machine vision systems, control valves, human–machine interface, field instruments, industrial PC, Sensors, and others. The industrial robots sub-segment currently dominates the market as industrial robots are increasingly being used across industries for repetitive tasks that are unsafe, inaccurate, difficult, or impossible for humans to perform.

PEST Analysis
Political: Governments across countries are investing heavily in developing and enabling next-generation technologies like industrial automation to enhance productivity and efficiency of production processes. This is driving growth.
Economic: With rising labor costs, industries are increasingly adopting industrial automation solutions to optimize costs and improve profitability. Automation also enhances output.
Social: Changing demographics with shrinking workforce is pushing industries to leverage automation for replacing human labor. Social acceptance for technologies is high.
Technological: Advanced technologies like machine learning, IoT, artificial intelligence, big data analytics are augmenting industrial automation. This is creating new growth opportunities.

Key Takeaways
The global industrial automation and control systems market is expected to witness high growth, exhibiting CAGR of 9.0%   over the forecast period, due to increasing industrialization across developing regions. The industrial automation and control system market size for 2023 is estimated at US$ 174.53 Bn.

Regional analysis - Asia Pacific currently dominates the market and is expected to witness the fastest growth over the forecast period attributed to rapid industrialization in major economies like China and India. There is rising focus on enhancing productivity through automation.

Key players - Key players operating in the industrial automation and control systems market are ABB, Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., and Schneider Electric. ABB and Schneider are the global leaders with wide geographical presence and product portfolio.

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