Industry: Semiconductor & Electronics | Publish Date: 03-Dec-2024 | No of Pages: 123 | No. of Tables: 89 | No. of Figures: 54 | Format: PDF | Report Code : SE977
The U.S. Industrial Process Automation Market size was valued at USD 15.15 billion in 2023, and is predicted to reach USD 21.88 billion by 2030, at a CAGR of 4.9% from 2024 to 2030. The industrial process automation market refers to the industry that provides technologies and systems designed to monitor, control, and optimize industrial operations.
It involves the integration of advanced computer technology, hardware, and software solutions to automate key processes such as inventory management, manufacturing, production, and quality control. The key technologies include sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control and data acquisition (SCADA) systems.
This market serves industries such as oil and gas, chemical processing, food and beverage, and pharmaceuticals, where automation is crucial for improving operational efficiency, product quality, and workplace safety. By reducing costs and minimizing human error, industrial process automation market enables companies to streamline their production processes, ensuring higher output with greater precision. The demand for industrial process automation solutions continues to grow as businesses seek to enhance productivity and remain competitive in an increasingly automated global manufacturing environment.
The automotive industry, one of the largest and most complex manufacturing sectors, includes various processes that benefit significantly from automation. These processes encompass assembly line operations, quality control, and supply chain management. Automated systems play a crucial role in tracking inventory levels, optimizing production schedules, and ensuring timely delivery of parts to the assembly line. According to the U.S. Bureau of Labor Statistics, electric vehicle sales in the U.S. are projected to make up 40% of total passenger car sales by 2030, further increasing the U.S. industrial process automation market demand for automation in this sector.
The manufacturing industry in the country is experiencing significant growth, but this U.S. industrial process automation market expansion contrasts with a decline in manufacturing jobs over the past two decades, driven by offshoring and economic recessions. To address these challenges and maintain competitiveness, companies are increasingly adopting automation technologies. The shift towards automation is helping businesses reduce production costs and enhance operational efficiency by compensating for the reduced workforce.
Automated systems streamline production processes, handle repetitive tasks, manage inventory, and ensure quality control. This approach allows companies to keep pace with rising production demands while managing labor costs effectively. Consequently, the growing focus on automation is a key driver behind the advancement of industrial process automation in the country, supporting both the sector’s expansion and operational improvements.
The absence of standardization poses a significant challenge to the growth of the industrial process automation market. Without established standards, vendors may develop proprietary systems that are difficult to replace or upgrade. This can lead to vendor lock-in, where companies become dependent on a specific vendor's technology, limiting their ability to switch vendors.
Vendor lock-in can result in higher costs, reduced flexibility, and decreased innovation, that hinders the U.S. industrial process automation market growth. Companies may be reluctant to invest in automation systems if they are concerned about being tied to a particular vendor, that further restrict market development.
The advancements in industry 4.0 technologies, such as the Internet of Things (IoT), cloud computing, and artificial intelligence (AI), are opening up significant opportunities for the industrial process automation market. These technologies allow companies to gather and analyze large amounts of data in real-time, offering valuable insights into their operations and highlighting areas for improvement. As technology evolves quickly, market participants are partnering with tech-focused companies to create new solutions based on established technologies.
Several key players operating in the U.S. industrial process automation industry include Siemens AG, Honeywell International, Schneider Electric, Mitsubishi Electric, Rockwell Automation, Emerson Electric Co., ABB Ltd., Omron Corp., Fanuc Corp., Toshiba Corp., and others.
Manufacturing Execution Systems
Hardware
Software
Services
Distributed Control Systems
Hardware
Software
Services
Programmable Logic Control
Hardware
Software
Services
Supervisory Control and Data Acquisition (SCADA)
Hardware
Software
Services
Field Instruments
Industrial Robots
Process Analyzers & Drives
Oil & Gas
Chemical & Refining
Energy & Power
Pulp & Paper
Metals & Mining
Pharmaceutical
Cement & Glass
Others
Key Players
Siemens AG
Honeywell International
Schneider Electric
Mitsubishi Electric
Rockwell Automation
Emerson Electric Co.
ABB Ltd.
Omron Corp.
Fanuc Corp.
Toshiba Corp.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 15.15 Billion |
Revenue Forecast in 2030 |
USD 21.88 Billion |
Growth Rate |
CAGR of 4.9% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |