Global Market Growth Driven by Advanced Automation Technologies

The global automation market is projected to generate revenue of USD 129.5 billion in 2024, growing at a CAGR of 3.8% from 2024 to 2030, and reaching USD 161.6 billion by 2030. The market’s growth is fueled by rapid technological advancements and the increasing need for enhancing productivity and profitability across various industries and applications.

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A key strategic development in the sector is the integration of collaborative automation devices with artificial intelligence (AI). For example, AI-powered drones in agriculture are revolutionizing pesticide spraying, similar to how drip irrigation relies on data-driven systems. The incorporation of AI and machine learning (ML) into robots enables them to understand contexts, make decisions, and improve efficiency in their tasks.

Additionally, the Internet of Things (IoT) is transforming large-scale industries with real-time monitoring, positioning, tracking, enhanced security, and faster responses. IoT connects sensors, actuators, and robots, fostering communication and enhancing productivity with greater accuracy and efficiency.

Key Insights:

  • Hardware holds a 55% market share in 2024, driven by essential components like robots, sensors, and actuators.
  • Software is expected to grow at a CAGR of 4.2%, propelled by AI/ML and IoT for optimized operations.
  • The AI segment leads with a 45% share, heralding Industry 5.0 with smarter, more productive solutions.
  • Programmable automation generates 40% of revenues, being vital for batch production in industries.
  • Robotic process automation (RPA) will grow at the fastest CAGR, excelling in repetitive task management.
  • Workforce automation has the largest market share in 2024, enhancing productivity by reducing mundane human tasks.
  • Pre-emptive automation is predicted to grow at the highest CAGR, streamlining processes for better performance.
  • The automotive industry leads with 30% revenue, leveraging AI and robotics for precise, error-free production.
  • North America dominates with a 45% market share, driven by industries demanding high-precision automation.
  • Industrialization in India and China boosts demand for cost-effective automated solutions.
  • Governments are championing local manufacturing and Industry 4.0 standards, fostering automation growth.

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