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With 9.8% CAGR, Global Industrial Automation Market Size Worth USD 395.09 Billion in 2029

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Pune, India, June 13, 2022 (GLOBE NEWSWIRE) — The global market for industrial automation is expected to rise during the forecast period due to increasing adoption of IoT and digitalization in the manufacturing and production sectors. Fortune Business Insights™ publishes this information in a report titled, Industrial Automation Market, 2022-2029″. As per the report, the industrial automation market size was USD 191.89 billion in 2021. The market size is expected to rise from USD 205.86 billion in 2022 to USD 395.09 billion by 2029 at a CAGR of 9.8% during the forecast period.

Various sectors adopt industrial automation to upgrade business processes and simplify the company’s manufacturing operations. The rising digitalization and expansion of augmented reality will likely boost the market. Also, increasing implementation of artificial intelligence and industrial IoT is expected to drive the market during the projected period.

Industry Developments:

  • June 2021: ABB Ltd. partnered with dtac Trinet, Thailand-based wireless telecommunications service provider, to develop robotics and machine automation solutions with dtac connectivity across Thailand. The partnership aims to advance Thailand’s manufacturing capabilities and accelerate industry 4.0 in the country.
  • June 2021: Emerson collaborated with PureCycle Technologies, Inc. to offer digital technologies and automation for PureCycle facilities to transform plastic recycling. Emerson’s Planet web digital ecosystem integrates digital automation technology across all PureCycle facilities and reduces the project completion time.

Request Sample Copy of the Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/industrial-automation-market-101589

Report Scope:

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 9.8%
2029 Value Projection USD 395.09 billion
Base Year 2021
Market Size in 2021 USD 191.89 billion
Historical Data for 2018 to 2020
No. of Pages 160

Drivers & Restraints:

Rising Digitalization to Stimulate Growth

The market is expected to witness significant growth during the forecast period due to the fourth industrial revolution’s adoption, which encourages the companies to acquire new brands and develop new products. Increasing implementation of industrial IoT is expected to drive the market in the coming years. Also, the rising implementation of digital twins and AR technology is anticipated to drive the market during the projected period. These factors are expected to ensure the industrial automation market growth during the forecast period. 

However, high initial capital investments may hinder the market growth during the projected period.

Regional Insights:

Europe Dominates Global Market Due to Technological Advancements

Europe dominated the global industrial automation market share during the forecast period due to increasing technological advancements and developments. The region stood at USD 61.85 billion in 2021 due to rising investment into technical development.

Asia Pacific is expected to hold the second-largest global market share due to the presence of key players in emerging countries. Also, developing industrialization and commercialization is expected to drive the market.

To get to know more about the short-term and long-term impact of COVID-19 on this Market Report,

Please visit: https://www.fortunebusinessinsights.com/industry-reports/industrial-automation-market-101589

Report Coverage:

The report provides factual information and statistical data regarding market development and recent trends in the industry. Furthermore, the impact of COVID-19 pandemic on market growth and development is highlighted in this report. Also, drivers and restraints affecting the market growth are elaborated further in this report. Major key players and their business development strategies are highlighted also in this report.

Segments:

Automotive Segment to Dominate Market Due to Rising Demand

By component, the market is bifurcated into hardware and software. Further, hardware components are divided into sensors such as photoelectric, laser, inductive, and others; PLC; HMI; and servo such as AC motor, DC motor, and drive. Also, laser markers, safety light curtains, and robots are among the hardware components.

Based on industry, the market is segmented into discrete automation and process automation. Discrete automation is classified into automotive, electronics, heavy manufacturing, packaging, and others. Process automation is segregated into oil & gas, chemicals, pulp & paper, mining & metals, healthcare, and others.

Finally, by geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Segmentation By Component
By Industry

  • Discrete Automation
  • Process Automation

Competitive Landscape:

Partnership and Collaboration Allow Key Players to Maintain Market Position

Key players in the market focus on implementing different business development strategies such as mergers, partnerships, alliances, and acquisitions. Also, key players implement innovative strategies to enhance their product portfolio. These strategies allow companies to expand their market reach and gain a competitive advantage in the emerging market.

Companies Covered in the Industrial Automation Market Report

  • ABB Ltd. (Switzerland)
  • Emerson Electric Co. (U.S.)
  • General Electric Company (U.S.)
  • Honeywell International Inc. (U.S.)
  • Mitsubishi Electric Corporation (Japan)
  • Omron Corporation (Japan)
  • Rockwell Automation Inc. (U.S.)
  • Schneider Electric SE (France)
  • Siemens AG (Germany)
  • Yokogawa Electric Corporation (Japan)

Quick Buy – Industrial Automation Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101589

Major Points in TOC:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Global Industrial Automation Key Players Market Share Insights and Analysis, 2021
  • Global Industrial Automation Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Component (USD)
      • Hardware
        • Sensors
          • Photoelectric
          • Laser
          • Inductive
          • Others
        • PLC
        • HMI
        • Servo
          • Motor
          • Drive
        • Laser Markers
        • Safety Light Curtain
        • Robots
      • Software
    • By Industry (USD)
      • Discrete Automation
        • Automotive
        • Electronics
        • Heavy Manufacturing
        • Packaging
        • Others
      • Process Automation
        • Oil & Gas
        • Chemicals
        • Pulp & Paper
        • Mining & Metals
        • Healthcare
        • Others
    • By Region (USD)
      • North America
      • South America
      • Europe
      • Asia Pacific
      • Middle East & Africa
  • North America Industrial Automation Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Component (USD)
      • Hardware
        • Sensors
          • Photoelectric
          • Laser
          • Inductive
          • Others
        • PLC
        • HMI
        • Servo
          • Motor
          • Drive
        • Laser Markers
        • Safety Light Curtain
        • Robots
      • Software
    • By Industry (USD)
      • Discrete Automation
        • Automotive
        • Electronics
        • Heavy Manufacturing
        • Packaging
        • Others
      • Process Automation
        • Oil & Gas
        • Chemicals
        • Pulp & Paper
        • Mining & Metals
        • Healthcare
        • Others
    • By Country (USD)
      • United States
        • By Industry
      • Canada
        • By Industry
      • Mexico
        • By Industry

TOC Continued…!

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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icis-and-base-oil-news-announce-partnership-to-enhance-market-insights

LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
Logo: https://mma.prnewswire.com/media/626944/1199800/Trianz_Logo.jpg
 

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