INDUSTRIAL AUTOMATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Industrial Automation Market, By Component (Hardware, Software, Services), By Technology (Programmable Logic Controllers (PLC), Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Human-Machine Interface (HMI), Industrial Robotics), By Application (Manufacturing, Oil and Gas, Energy and Power, Chemicals, Food and Beverages, Pharmaceuticals), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Sep 2024
Code : CMI7398
Pages :165
Formats :
Excel and PDF
Industry : Industrial Automation and Machinery

Market Concentration and Competitive Landscape

Industrial Automation Market Concentration By Players

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Government initiatives and subsidies for automation

Governments across major economies like North America, Asia Pacific, etc. acknowledge that enabling advanced automation technologies for domestic manufacturers through initiatives and incentives is integral to sustaining their industrial competitiveness. Labor costs are increasing, while consumers demand higher quality, customized, and sustainable products at lower prices. These pressures can be mitigated by utilizing industrial robots and AI-driven systems. Governments provide tax relief, low interest loans and grants for manufacturers instituting industrial automation projects. For instance, “Industry 4.0” program by the Germany government co-funds R&D and implementation of smart factory technologies.

Government of Singapore also allocates funds through its “Automation Support Package” to help small businesses computerize operations. China’s “Made in China 2025” industrial plan commits billions in developing intelligent manufacturing capabilities. Tax credits are available in many American states for investments in industrial robotics. Canada and several European nations have similar subsidy drives promoting adoption of robotics. Such government assistance eases the upfront capital required for automation equipment and modernization. It encourages more organizations to invest in robotics, even during uncertain economic cycles.

For instance, in January 2021, Omron Corporation, a global leader in automation and control technology, launched the i4 series SCARA robot that is designed to automate high-precision, high-speed assembly and transportation processes. This innovative robot aims to enhance manufacturing efficiency by offering easy installation and advanced capabilities for various applications.

Key Players Insights