Automation And Controls Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Automation And Controls Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The automation and controls market has witnessed rapid expansion in recent years, with projections indicating substantial growth ahead. Starting at $127.13 billion in 2023, the market is expected to reach $139.8 billion in 2024, growing at a robust CAGR of 9.9%. This growth can be attributed to various factors such as the industrial revolution, computerization, electrification, programmable logic controllers (PLCs), and the digital revolution, including the internet of things (IoT).

Rising Demand for Smart Manufacturing Drives Market Expansion
Anticipated to expand further, the automation and controls market is forecasted to achieve a size of $202.1 billion by 2028, growing at a CAGR of 9.6%. This growth will be driven by the increasing adoption of smart manufacturing practices, which aim to enhance operational efficiency and mitigate challenges arising from rising labor costs, skills shortages, and the need for remote monitoring and management. Urbanization and infrastructure development will also contribute significantly to market expansion during this period.

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Major Players Innovating to Maintain Market Position
Key companies in the automation and controls sector, including Hitachi Ltd., Siemens AG, General Electric Company, and Mitsubishi Electric Corporation, are actively innovating to maintain their competitive edge. For instance, Emerson Electric Co. introduced the MTConnect driver for its Movicon.NExTTM 4.1.333 platform, aimed at enhancing industrial control capabilities through seamless data integration and scalability.

Market Segments Overview
The automation and controls market is segmented based on product type, application, and end-use sectors:
Product Type:
• Programmable Logic Controller (PLC)
• Supervisory Control And Data Acquisition (SCADA)
• Programmable Automation Controller (PAC)
• Distributed Control System (DCS)
• Human-Machine Interface (HMI)
• Manufacturing Execution System (MES)
Application:
• Lighting
• Heating, Ventilation and Air Conditioning (HVAC)
• Safety And Security
• Other Applications
End Use:
• Residential
• Commercial
• Industrial
• Oil And Gas
• Mining And Metals
• Automotive And Transportation
• Manufacturing Electrical And Electronics
• Other End Users

Asia-Pacific Leads the Automation and Controls Market
In 2023, Asia-Pacific emerged as the largest regional market for automation and controls, driven by rapid industrialization and technological advancements across key economies in the region. Detailed insights into regional dynamics and growth opportunities are available in the comprehensive report.

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Automation And Controls Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automation And Controls Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automation and controls market size, automation and controls market drivers and trends, automation and controls market major players, competitors' revenues, market positioning, and market growth across geographies. The automation and controls market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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