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

Regional Analysis

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North America has established itself as the dominant region in the global industrial automation market with an estimated market share of 40.3% share in 2024. With strong manufacturing infrastructure and early adoption of advanced technologies, the U.S. and Canada have presence of many industry leaders and multinational companies in this field. Industries like automotive, electronics, food & beverages and oil & gas have boosted automation demand. The region has witnessed heavy investments by companies to upgrade plants with latest robots, sensors, machine vision systems and industrial IoT solutions.

For instance, In September 2022, ABB Ltd., a global technology leader in electrification and automation, expanded its manufacturing footprint in the U.S. by investing in new electric vehicle (EV) charger stations in the region. This investment is aimed at enabling ABB E-mobility to meet the growing demand for electric vehicle chargers across the area.

Support from the governments through initiatives such as Industry 4.0 has also boosting efficiency. These initiatives have focused on digitization of manufacturing processes via technologies like additive manufacturing, advanced robotics, big data analytics, and others. With higher productivity needs, North American manufacturers export majority of automation solutions to other regions. Leading vendors have established local manufacturing and strong distribution channels to effectively cater to regional clients. High premiumization along with technological superiority has ensured highest sales realizations as compared to other markets globally.

Asia Pacific region has emerged as the fastest growing market for industrial automation. Countries like China, Japan, South Korea and India witness growth due to robust manufacturing led economies. While the automotive, electronics and heavy machinery industries in developing nations like China and India offer significant untapped opportunities, developed Asian countries are focusing on factory digitization through Industry 4.0 upgrades. Japanese manufacturers are renowned for innovative process automation solutions globally.

Growing foreign investments as well as government initiatives promoting manufacturing are boosting efficiency. Affordable labor costs have encouraged global industrial leaders to establish production bases in Asia to take advantage of economies of scale. Rising wages are now pushing companies to rapidly automate manufacturing processes. Led by China, the industrial automation landscape in Asia is evolving at a rapid pace through adoption of world-class automation technologies and solutions.