Automation and Controls Market Expected to Reach $845.15 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Automation and Controls Market by component, deployment model, product, application, and end use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the automation and controls market size was valued at $329.62 billion in 2020, and is projected to reach at $845.15 million by 2030, growing at a CAGR of 10.7% from 2021 to 2030.

Automation and control in the manufacturing/production sector are referred to as the utilization of technologies such as software, hardware, and equipment designed to automate the production processes. Manufacturing processes are highly diversifying, owing to which various types of manufacturing automatic control cater to different aspects such as foxed automation, programmable automation, and flexible automation. Moreover, motion control systems in the manufacturing and industrial sector is becoming significantly important, owing to major competitive advantages such as lower operating costs and rise in need for workplace safety & productivity, thus offering significant growth opportunities for the market.

The growth of global automation & controls is majorly driven by implementation of government regulations to promote industrial automation and surge in organizations focused on worker safety. In addition, rise in demand for industrial automation across the manufacturing sector is expected to drive automation and controls market growth. However, the high implementation cost associated with the installation is acting as a prime restraint of the global market. On the contrary, rise in penetration of industrial robotics coupled with the adoption of Industry 4.0 across prime industries is anticipated to provide lucrative opportunities for the automation & controls industry during the forecast period.

According to automation and controls market trends, the SCADA segment was the highest contributor to the market in 2020. The commercial and industrial segments collectively accounted for around 83.2% market share in 2020. Increase in labor productivity and total rate of production are some of the prime factor propelling the growth of PLC segment.

The outbreak of the COVID-19 has significantly impacted the growth of the automation & controls market. Rise in demand for industrial control systems across the prime manufacturing and industrial sector has significantly propelled the demand for automation & controls-based digital applications during the pandemic. However, lack of availability of a professional maintenance workforce due to partial and complete lockdown implemented by the governments globally restrain the growth of the automation & controls market during a pandemic. Conversely, the commercial and industrial sectors globally started to deploy automation & controls-powered solutions, hence, forecast to drive the automation and controls market analysis post-pandemic.

Region wise, Europe holds a significant share in the global automation & controls market. The adoption of Industry 4.0 initiative to boost the digital infrastructure across manufacturing/production & related industries and value creation processes, which is expected to propel the growth of the automation & controls industry in this region. Moreover, surge in demand for automation technologies across industrial sectors in Europe is anticipated to boost the automation & controls market growth in this region.

Key Findings of The Study

• In 2020, the safety & security segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 10.7% during the forecast period.
• The safety & security and HVAC segments together accounted for around 64.6% of the automation and controls market share in 2020.
• The industrial segment is projected to growth at a CAGR of 10.0% during the automation and controls market forecast period.
• Europe contributed for the major share in automation and controls industry, accounting for more than 34.0% share in 2020.

The key players profiled in the report include ABB Group, Bosch Rexroth AG, Emerson Electric Co., Fanuc Corporation, General Electric Company, Honeywell International Inc., KUK AG, Rockwell Automation, Schneider Electric SE, and Siemens AG. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the market.