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

Key Developments

• In May 2022, Emerson Electric Co., a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets, launched its new automation solution, TopWorx DX Partial Stroke Test (PST) with HART 7. This user-friendly device is a smart, adaptive, and reliable solution that provides preventive diagnostics for critical applications, enabling easy installation and calibration while meeting global certifications.
• In July 2021, Rockwell Automation, Inc., a global leader in industrial automation and digital transformation, announced a partnership with Kezzler AS, a cloud-based product digitization and traceability platform, to help manufacturers capture the journey of their products from raw material sources to point-of-sale or beyond using cloud-based supply chain solutions that focus on product traceability. The combined offering is ideal for customers in industries like life sciences, food and beverage, and consumer packaged goods that are focused on complying with regulatory requirements and meeting consumer expectations in areas like product quality, safety, and sustainability.
• In May 2020, Honeywell, a global leader in industrial automation and aerospace, accelerated the development and production of vaccines and medical therapies through its Fast Track Automation solution. This offering aimed to help life sciences manufacturers efficiently ramp up production of potential new products to full-scale automation while still in the development phase, enabling them to bring therapies to market faster.
• In February 2020, Honeywell International Inc., a global leader in technology and manufacturing, partnered with Tech Mahindra Limited, a prominent provider of digital transformation solutions, to develop digitized “Factories of the Future” by leveraging advanced digital technologies. This partnership aims to accelerate the digital transformation journey for manufacturers, empowering them to enhance their operational efficiency and innovation capabilities.