The Industrial Automation Market is projected to grow from 156.68 Billion in 2023 to USD 277.35 Billion by 2030, at a CAGR of 8.5% from 2024 to 2029 according to a new report by Maximize Market Research.
As Industry 4.0 advances, it sets the stage for a new manufacturing era where agility and technological integration are essential for success. Industry 4.0 is transforming the Industrial Automation Market. AI, cloud-native apps, and edge computing are driving industrial automation growth, with increased demand for engineers and advanced solutions.
This shift accelerates the move from basic mechanization to advanced, interconnected systems, delivering exceptional efficiency and innovation. Adopting interoperability standards such as OPC UA and Industry 4.0 technologies, companies enable real-time decision-making and predictive maintenance, resulting in smarter and more responsive manufacturing environments. Industries that use AI, collaborative robots, and IoT technology gain a competitive edge by addressing labor shortages, meeting rising consumer demands, and optimizing budget management. These advancements drive significant growth in the Industrial Automation Market.
Industrial Automation Market Scope
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Market Size in 2023 |
USD 156.68 Billion |
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Market Size in 2030 |
USD 277.35 Billion |
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CAGR |
8.5 % |
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Forecast Period |
2024-2030 |
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Base Year |
2023 |
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Segment Covered |
by Components by Solutions by Industry by Region |
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Drivers |
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Restrain |
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Opportunities |
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Report Coverage |
Market Share, Size, and Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Automation Technology Adoption Grows as Solution to Labor Shortages
The manufacturing industry is dealing with a severe labor shortage. According to the MMR study Report, there will be an estimated more than 2 million unfilled jobs by 2030. In response, business leaders are turning to industrial automation as a critical strategy to mitigate workforce challenges. Automation alleviates high turnover rates by taking over repetitive and dangerous tasks, allowing employees to shift into skilled roles such as machine operators and programmers. Also, the study indicates that 75% of industrial organizations recognize the need for reskilling, and only 10% feel prepared. To address this, manufacturers should adopt automation solutions that are easy to implement, enabling workers to adapt and enhance productivity amid workforce shifts.
Segment Analysis: Key Areas of Focus
The global medical device engineering market was segmented into Components, including Industrial Robots, Machine Vision System, Process Analyzer, Field Instruments, Human Machine Interface (HMI), Industrial PC, Industrial Sensors, Industrial 3D Printing, and Vibration Monitoring. Among these, the Industrial Sensors segment is expected to experience the fastest growth. Due to continuous technological advancements and the rising integration of software to improve functionality, and connectivity, in automation.
Regional Insight: Asia pacific held the largest share of the Industrial Automation Market
The Industrial Automation Market is growing rapidly, with South Korea leading in robot density at 1,012 per 10,000 employees, followed by Singapore, Japan, and Sweden. Demand for automation engineers is rising across manufacturing, oil and gas, and power generation sectors, driven by the need for advanced systems and cyber security. The mining industry is innovating with autonomous machinery for improved safety and sustainability. Government support and technological advances, such as Wi-Fi 7, are accelerating automation adoption. Effective collaboration among engineers and stakeholders is crucial for refining automation solutions and achieving production and sustainability goals.
