PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1551261
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1551261
Automation Components Market Forecasts to 2030 - Global Analysis By Product, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Automation Components Market is accounted for $162.2 billion in 2024 and is expected to reach $313.3 billion by 2030 growing at a CAGR of 11.6% during the forecast period. Automation components are integral elements used in automated systems to control and monitor processes with minimal human intervention. These components include various devices such as sensors, actuators, controllers, and switches, each playing a specific role in the automation process. These components work together to create a seamless, efficient, and reliable automated system, often used in manufacturing, energy management, and various other industries.
According to International Energy Agency, India has approximately 25 vehicles per thousand people as of 2021, and the number is expected to cross 150 by the year 2040.
Market Dynamics:
Driver:
Increasing use of collaborative robots in various industries
Cobots are designed to work alongside human operators, assisting with repetitive and physically demanding tasks. This collaboration leads to increased productivity and efficiency in manufacturing processes. As businesses realize the benefits of integrating cobots, they are more likely to invest in automation components that facilitate these improvements, further propelling market growth
Restraint:
Increasingly vulnerable to cybersecurity threats
As automation systems become more interconnected, they are increasingly susceptible to cyberattacks. Successful attacks can disrupt operations, leading to downtime and loss of productivity. This unpredictability can deter companies from investing in automation technologies, thereby stunting market growth and adoption. This hesitation can slow the overall growth of the automation components market as companies prioritize security over innovation.
Opportunity:
Growing emphasis on sustainability across industries
Automation technologies play a crucial role in optimizing resource utilization, which aligns with sustainability goals. By implementing automation solutions, industries can reduce energy consumption and improve efficiency in production processes. This optimization attracts businesses looking to enhance their sustainability efforts, thus increasing the demand for automation components.
Threat:
Skills gap in the workforce
The lack of adequately skilled workers can hinder the adoption of automation technologies. Companies may hesitate to invest in advanced automation systems if they cannot find personnel with the necessary expertise to implement and maintain these systems. This reluctance can lead to slower growth in the automation components market as businesses miss opportunities to enhance efficiency and productivity.
Covid-19 Impact:
The COVID-19 pandemic has significantly impacted the automation components market by accelerating the adoption of automation technologies. As businesses faced disruptions in supply chains and labor shortages, many turned to automation to maintain operations and enhance efficiency. This shift has driven demand for automation components, particularly in sectors like manufacturing and logistics. However, the pandemic also exposed vulnerabilities in supply chains, leading to delays and increased costs for automation components.
The human-machine interfaces segment is expected to be the largest during the forecast period
The human-machine interfaces is expected to be the largest during the forecast period owing to advanced features such as touch screens, voice recognition, and augmented reality in HMIs enhances operational efficiency and reduces errors. This trend leads to a higher demand for sophisticated automation components, including sensors and display technologies, which are essential for developing these advanced human-machine interfaces.
The automated warehousing segment is expected to have the highest CAGR during the forecast period
The automated warehousing segment is expected to have the highest CAGR during the forecast period as automated warehousing encourages the development and integration of advanced technologies, such as artificial intelligence, machine learning, and the Internet of Things (IoT). This drives the demand for automation components that can support these technologies, leading to further innovation and growth in the market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to factors like the need for increased productivity, efficiency, and safety in industrial operations. The rise of Industry 4.0, with its emphasis on smart factories and the Internet of Things (IoT), also fuels market growth. Additionally, advancements in artificial intelligence (AI) and machine learning contribute to the increasing complexity and capability of automation systems.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the region's burgeoning industrial sector, significant investments in infrastructure development, and the rise of smart manufacturing. Countries like China, India, Japan, and South Korea are major contributors, with substantial advancements in technology and manufacturing capabilities. Furthermore the growing emphasis on efficiency, quality control, and cost reduction drives the demand for these components.
Key players in the market
Some of the key players in Automation Components market include ABB Ltd. , Automation Component Ltd, Balluff GmbH, Banner Engineering Corp., Beckhoff Automation GmbH & Co. KG, Bosch Rexroth, Danfoss A/S, Eaton Corporation, Emerson Electric Co., Fluid Power South Inc., General Electric Company, Keyence Corporation, Mitsubishi Electric Corporation, Nidec Corporation, Omron Corporation, Parker Hannifin Corporation, Rockwell Automation Inc, Shanghai Kgg Robots Co, Ltd and SKF
Key Developments:
In June 2024, ABB launches next-generation Robotics control platform OmniCore. Platform increases business productivity and flexibility through faster, more precise and more autonomous automation
In May 2024, ABB expands electrification portfolio with acquisition of Siemens' Wiring Accessories business in China. The offering ABB is acquiring includes wiring accessories, smart home systems, smart door locks and further peripheral home automation products, which will continue with the Siemens brand under terms of a licensing agreement.
In May 2024, Eaton in India expands its manufacturing footprint in Puducherry. The new block spans an impressive 40,000 square feet and is laid out with cutting-edge manufacturing lines to produce ACBs
Products Covered:
- Sensors
- Actuators
- Controllers
- Switches
- Relays
- Variable Frequency & Servo Drives
- Human-Machine Interfaces
- Networking & Communication Devices
- Robotics
- Connectivity & Interface Modules
- Other Products
Technologies Covered:
- Industrial Internet of Things (IIoT)
- Artificial Intelligence (AI) and Machine Learning (ML)
- Programmable Logic Controllers
- Distributed Control Systems
- Industrial Ethernet
- Wireless Communication
- Firewalls & Intrusion Detection Systems
- Authentication & Access Control
- Big Data Analytics
- Data Visualization Tools
- Other Technologies
Applications Covered:
- Assembly Lines
- Quality & Process Control
- Chemical Processing
- HVAC Systems
- Lighting Control
- Security Systems
- Automated Warehousing
- Transportation Infrastructure
- Power Generation
- Testing & Quality Assurance
- Other Applications
End Users Covered:
- Manufacturing
- Process Industries
- Energy & Utilities
- Building Automation
- Logistics
- Healthcare & Medical
- Aerospace & Defense
- Agriculture
- Mining
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Technology Analysis
- 3.8 Application Analysis
- 3.9 End User Analysis
- 3.10 Emerging Markets
- 3.11 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Automation Components Market, By Product
- 5.1 Introduction
- 5.2 Sensors
- 5.2.1 Proximity Sensors
- 5.2.2 Temperature Sensors
- 5.2.3 Pressure Sensors
- 5.2.4 Level Sensors
- 5.2.5 Flow Sensors
- 5.3 Actuators
- 5.3.1 Electric Actuators
- 5.3.2 Pneumatic Actuators
- 5.3.3 Hydraulic Actuators
- 5.4 Controllers
- 5.4.1 Programmable Logic Controllers
- 5.4.2 Distributed Control Systems
- 5.4.3 Remote Terminal Units
- 5.5 Switches
- 5.6 Relays
- 5.7 Variable Frequency & Servo Drives
- 5.8 Human-Machine Interfaces
- 5.9 Networking & Communication Devices
- 5.10 Robotics
- 5.11 Connectivity & Interface Modules
- 5.12 Other Products
6 Global Automation Components Market, By Technology
- 6.1 Introduction
- 6.2 Industrial Internet of Things (IIoT)
- 6.3 Artificial Intelligence (AI) and Machine Learning (ML)
- 6.4 Programmable Logic Controllers
- 6.5 Distributed Control Systems
- 6.6 Industrial Ethernet
- 6.7 Wireless Communication
- 6.8 Firewalls & Intrusion Detection Systems
- 6.9 Authentication & Access Control
- 6.10 Big Data Analytics
- 6.11 Data Visualization Tools
- 6.12 Other Technologies
7 Global Automation Components Market, By Application
- 7.1 Introduction
- 7.2 Assembly Lines
- 7.3 Quality & Process Control
- 7.4 Chemical Processing
- 7.5 HVAC Systems
- 7.6 Lighting Control
- 7.7 Security Systems
- 7.8 Automated Warehousing
- 7.9 Transportation Infrastructure
- 7.10 Power Generation
- 7.11 Testing & Quality Assurance
- 7.12 Other Applications
8 Global Automation Components Market, By End User
- 8.1 Introduction
- 8.2 Manufacturing
- 8.3 Process Industries
- 8.4 Energy & Utilities
- 8.5 Building Automation
- 8.6 Transportation & Logistics
- 8.7 Healthcare & Medical
- 8.8 Aerospace & Defense
- 8.9 Agriculture
- 8.10 Mining
- 8.11 Other End Users
9 Global Automation Components Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 ABB Ltd.
- 11.2 Automation Component Ltd
- 11.3 Balluff GmbH
- 11.4 Banner Engineering Corp.
- 11.5 Beckhoff Automation GmbH & Co. KG
- 11.6 Bosch Rexroth
- 11.7 Danfoss A/S
- 11.8 Eaton Corporation
- 11.9 Emerson Electric Co.
- 11.10 Fluid Power South Inc.
- 11.11 General Electric Company
- 11.12 Keyence Corporation
- 11.13 Mitsubishi Electric Corporation
- 11.14 Nidec Corporation
- 11.15 Omron Corporation
- 11.16 Parker Hannifin Corporation
- 11.17 Rockwell Automation Inc
- 11.18 Shanghai Kgg Robots Co, Ltd
- 11.19 SKF
List of Tables
- Table 1 Global Automation Components Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Automation Components Market Outlook, By Product (2022-2030) ($MN)
- Table 3 Global Automation Components Market Outlook, By Sensors (2022-2030) ($MN)
- Table 4 Global Automation Components Market Outlook, By Proximity Sensors (2022-2030) ($MN)
- Table 5 Global Automation Components Market Outlook, By Temperature Sensors (2022-2030) ($MN)
- Table 6 Global Automation Components Market Outlook, By Pressure Sensors (2022-2030) ($MN)
- Table 7 Global Automation Components Market Outlook, By Level Sensors (2022-2030) ($MN)
- Table 8 Global Automation Components Market Outlook, By Flow Sensors (2022-2030) ($MN)
- Table 9 Global Automation Components Market Outlook, By Actuators (2022-2030) ($MN)
- Table 10 Global Automation Components Market Outlook, By Electric Actuators (2022-2030) ($MN)
- Table 11 Global Automation Components Market Outlook, By Pneumatic Actuators (2022-2030) ($MN)
- Table 12 Global Automation Components Market Outlook, By Hydraulic Actuators (2022-2030) ($MN)
- Table 13 Global Automation Components Market Outlook, By Controllers (2022-2030) ($MN)
- Table 14 Global Automation Components Market Outlook, By Programmable Logic Controllers (2022-2030) ($MN)
- Table 15 Global Automation Components Market Outlook, By Distributed Control Systems (2022-2030) ($MN)
- Table 16 Global Automation Components Market Outlook, By Remote Terminal Units (2022-2030) ($MN)
- Table 17 Global Automation Components Market Outlook, By Switches (2022-2030) ($MN)
- Table 18 Global Automation Components Market Outlook, By Relays (2022-2030) ($MN)
- Table 19 Global Automation Components Market Outlook, By Variable Frequency & Servo Drives (2022-2030) ($MN)
- Table 20 Global Automation Components Market Outlook, By Human-Machine Interfaces (2022-2030) ($MN)
- Table 21 Global Automation Components Market Outlook, By Networking & Communication Devices (2022-2030) ($MN)
- Table 22 Global Automation Components Market Outlook, By Robotics (2022-2030) ($MN)
- Table 23 Global Automation Components Market Outlook, By Connectivity & Interface Modules (2022-2030) ($MN)
- Table 24 Global Automation Components Market Outlook, By Other Products (2022-2030) ($MN)
- Table 25 Global Automation Components Market Outlook, By Technology (2022-2030) ($MN)
- Table 26 Global Automation Components Market Outlook, By Industrial Internet of Things (IIoT) (2022-2030) ($MN)
- Table 27 Global Automation Components Market Outlook, By Artificial Intelligence (AI) and Machine Learning (ML) (2022-2030) ($MN)
- Table 28 Global Automation Components Market Outlook, By Programmable Logic Controllers (2022-2030) ($MN)
- Table 29 Global Automation Components Market Outlook, By Distributed Control Systems (2022-2030) ($MN)
- Table 30 Global Automation Components Market Outlook, By Industrial Ethernet (2022-2030) ($MN)
- Table 31 Global Automation Components Market Outlook, By Wireless Communication (2022-2030) ($MN)
- Table 32 Global Automation Components Market Outlook, By Firewalls & Intrusion Detection Systems (2022-2030) ($MN)
- Table 33 Global Automation Components Market Outlook, By Authentication & Access Control (2022-2030) ($MN)
- Table 34 Global Automation Components Market Outlook, By Big Data Analytics (2022-2030) ($MN)
- Table 35 Global Automation Components Market Outlook, By Data Visualization Tools (2022-2030) ($MN)
- Table 36 Global Automation Components Market Outlook, By Other Technologies (2022-2030) ($MN)
- Table 37 Global Automation Components Market Outlook, By Application (2022-2030) ($MN)
- Table 38 Global Automation Components Market Outlook, By Assembly Lines (2022-2030) ($MN)
- Table 39 Global Automation Components Market Outlook, By Quality & Process Control (2022-2030) ($MN)
- Table 40 Global Automation Components Market Outlook, By Chemical Processing (2022-2030) ($MN)
- Table 41 Global Automation Components Market Outlook, By HVAC Systems (2022-2030) ($MN)
- Table 42 Global Automation Components Market Outlook, By Lighting Control (2022-2030) ($MN)
- Table 43 Global Automation Components Market Outlook, By Security Systems (2022-2030) ($MN)
- Table 44 Global Automation Components Market Outlook, By Automated Warehousing (2022-2030) ($MN)
- Table 45 Global Automation Components Market Outlook, By Transportation Infrastructure (2022-2030) ($MN)
- Table 46 Global Automation Components Market Outlook, By Power Generation (2022-2030) ($MN)
- Table 47 Global Automation Components Market Outlook, By Testing & Quality Assurance (2022-2030) ($MN)
- Table 48 Global Automation Components Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 49 Global Automation Components Market Outlook, By End User (2022-2030) ($MN)
- Table 50 Global Automation Components Market Outlook, By Manufacturing (2022-2030) ($MN)
- Table 51 Global Automation Components Market Outlook, By Process Industries (2022-2030) ($MN)
- Table 52 Global Automation Components Market Outlook, By Energy & Utilities (2022-2030) ($MN)
- Table 53 Global Automation Components Market Outlook, By Building Automation (2022-2030) ($MN)
- Table 54 Global Automation Components Market Outlook, By Transportation & Logistics (2022-2030) ($MN)
- Table 55 Global Automation Components Market Outlook, By Healthcare & Medical (2022-2030) ($MN)
- Table 56 Global Automation Components Market Outlook, By Aerospace & Defense (2022-2030) ($MN)
- Table 57 Global Automation Components Market Outlook, By Agriculture (2022-2030) ($MN)
- Table 58 Global Automation Components Market Outlook, By Mining (2022-2030) ($MN)
- Table 59 Global Automation Components Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
