Process automation market is estimated to grow at a CAGR of nearly 7.5% during the forecast period. The major players contributing to the market growth include rising industrialization and emerging demand for robotic process automation. Growing industrialization has been witnessed in emerging countries owing to the government initiatives to promote the manufacturing sector. In May 2015, the Chinese government introduced Made in China (MIC) 2025 initiative which comprises a range of state-backed programs that aims to accelerate productivity, modernize the Chinese economy, and make innovations in industrial processes. The MIC 2025 plan signifies that the country’s manufacturing sector is large, however, it lacks in quality of industrial infrastructure, innovation capacity, degree of digitalization, and the effectiveness of resource utilization.
Under the plan, the Chinese government seeks to carry out the task of upgrade infrastructure and leverage technological developments. MIC 2025 aims to move China in the manufacturing value chain through smart manufacturing and advanced manufacturing technologies. The increasing focus on advances in process automation is leading to the emerging adoption of process automation technologies to increase productivity and efficiency in the manufacturing sector. Companies associated with the manufacturing sector is significantly implementing robots to conduct everyday production operations in the plant.
Robotic Process Automation (RPA) is software that is combined with business processes to automate some activities, reduce human errors, and accelerate productivity. Audi, a German automaker is focusing on developing software robots to perform monotonous tasks for employees at PC workstations. In the manufacturing plants of Audi, humans and machines have been working together over the years. Now, PC workstations employees are also getting support from robots in the form of a digital assistant referred to as Audi my Mate. The rising integration of human and machine to facilitate production and back-office work is driving the growth of the market. The advent of Industry 4.0 is offering an opportunity for market growth.
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Market Coverage
- The market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2030
Segment Covered-
- By Technology
- By Component
- By End-User Industry
- Competitive Landscape: ABB Ltd., Dassault Systems SE, Eaton Corp. plc, Emerson Electric Co., and Honeywell International Inc.
Process Automation Market by Segment
By Technology
- Supervisory Control and Data Acquisition (SCADA)
- Human Machine Interface (HMI)
- Distributed Control System (DCS)
- Programmable Logic Controller (PLC)
- Enterprise Resource Planning (ERP)
- Others
By Component
- Hardware
- Software and Services
By End-User Industry
- Oil and Gas
- Electrical and Electronics
- Chemical
- Retail
- Food and Beverage
- Pharmaceutical and Life Science
- Manufacturing (Metal and Paper and Pulp)
- Automobile
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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