DUBLIN--(BUSINESS WIRE )--The "Industrial Automation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, System Type and End Users" report has been added to ResearchAndMarkets.com's offering.
Industrial Automation Market is expected to reach US$ 233.94 billion by 2028, registering a CAGR of 7.6% from 2021 to 2028.
Automation in the food & beverages industry refers to strategic integrations of technologies across various production processes, such as inspection, packaging, and storage.
Over the years, food & beverages companies have optimized different production processes through the uptake of automated systems, such as delta robots, automated guided vehicles, and robotic arms, to be in line with various food safety & quality standards laid down by regulatory bodies and reduce overall labor cost across production sites.
Vision-guided robots are experiencing a rise in demand across the industrial automation market due to their efficiency in completing repetitive tasks, such as bottle handling, bin picking, and tray loading. Numerous benefits, including enhanced traceability, improved efficiency, and high flexibility, have been driving the need for automation in the food & beverage industry over the years.
These factors have encouraged food & beverage producers to invest heavily in automated technology integration across their production facilities. For instance, a US-based snack brand, Utz Brands Inc., announced its plans to integrate automated capabilities across its production plants to reduce its overall operational cost in 2021.
Similarly, Hormel Foods is also planning to incorporate automation across its production facilities in 2022. Other food & beverage brands rapidly adopting automated technology include Tyson Foods and ITC. Thus, the rise in investment in automation across the food & beverage industry is fueling the growth of the industrial automation market.
The MEA industrial automation market is negatively impacted by the disruption in the supply chain of robotics and related components. The demand for industrial automation solutions such as sensors, robots, and machine vision systems has weakened marginally since the eruption of COVID-19 in the MEA countries.
This led to a loss of revenue among the automation solutions manufacturers, distributors, system integrators, and service providers offering their products in the region in 2020. However, as the region showcased a positive trend for adopting automation systems, owing to government containment measures, which propelled the adoption of industrial automation solutions such as robots, sensors, and machine vision systems from 2021.
APAC held the largest market share in 2020, followed by Europe and North America. APAC is further anticipated to register the highest CAGR in the industrial automation market during the forecast period. The increasing uptake by various industries and the growing penetration of advanced technologies, such as artificial intelligence (AI) and internet of thing (IoT), are fueling the industrial automation market size.
2. Industrial Automation Market- Key Takeaways
5. Industrial Automation Market - Key Industry Dynamics
5.1.1 Rising Uptake of Automation across Food & Beverage Industry
5.1.2 Increase in Machine Vision Systems Adoption for Industrial Automation
5.2.1 Requirement of High Initial Investment
5.3.1 Integration of Robotics in the Construction Industry
5.4.1 Surging Demand for Automation in the E-commerce Industry
5.5 Impact Analysis of Drivers and Restraints
6. Industrial Automation Market - Key Market Dynamics
6.2 Global Industrial Automation Market Forecast And Analysis
6.3 Market Positioning of Key Players
7. Industrial Automation Market Analysis - By Component
7.2 Industrial Automation Market, By Component (2020 and 2028)
7.3.2 Hardware: Industrial Automation Market - Revenue and Forecast to 2028 (US$ Billion)
8. Industrial Automation Market Analysis - By System
8.2 Industrial Automation Market, By System (2020 and 2028)
8.3 Supervisory Control and Data Acquisition
8.3.2 Supervisory Control and Data Acquisition: Industrial Automation Market - Revenue and Forecast to 2028 (US$ Billion)
9. Industrial Automation Market Analysis - By End User
9.2 Industrial Automation Market, By End User (2020 and 2028)
9.3.2 Oil & Gas: Industrial Automation Market - Revenue and Forecast to 2028 (US$ Billion)
10. Industrial Automation Market - Geographic Analysis
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900