The Industrial Automation Market will generate revenue of $289

Westford, USA, Aug. 24, 2022 (GLOBE NEWSWIRE) — As the world becomes increasingly automated, businesses are turning to industrial automation solutions to help increase efficiency and productivity. By automating routine tasks and processes, businesses can free up workforce time to focus on more important tasks. This growth of industrial automation market is mainly due to the growing demand for safe, reliable and efficient manufacturing systems. These systems help manufacturers increase production and reduce costs. According to SkyQuest findings, businesses save 15-60% on labor costs, making it one of the most profitable investments a business can make.

In addition to reducing labor costs, industrial automation can also reduce environmental impact. For example, if a factory uses manual labor to produce products, the production process often involves a lot of waste generated by work processes. With industrial automation, these tasks can be automated, leading to less waste and less environmental impact.

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There are a number of different industrial automation technologies, so businesses can find the right solution for their specific needs. Some of the most common types of industrial automation include: robots, machine learning algorithms, computer aided manufacturing (CAM), and wireless technology.

According to SkyQuest analysis, some of the leading companies in the industrial automation market are ABB Ltd., Siemens AG, Fanuc Corporation, Mitsubishi Electric Corporation, Kawasaki Heavy Industries Ltd. and Rexnord Corp. These companies offer a range of products and services that include controllers, readers, processing units, sensors and software. They prefer to partner with larger manufacturers who can leverage their resources to develop and deploy advanced technology solutions throughout their manufacturing operations.

The increasing adoption of advanced manufacturing technologies, such as 3D printing, and the recent shift of production to Asia are driving the growth of this industry. Additionally, the growing demand for smart machines that can automatically optimize processes and reduce variability is driving the growth of the industrial automation market.

SkyQuest has published a report on the global industrial automation market. The provides a detailed understanding of market trends, consumer analysis, demand and supply gap, price analysis, major market players and their market share, competitive landscape, value chain analysis and market dynamics. This will help market players to identify lucrative growth opportunities, target potential consumers, design growth strategies, find out what the competition is doing and where the opportunity lies for incentives on others’ weaknesses. For more details.

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Industrial automation will make up 37% of the global workforce, SkyQuest analyst says

As industrial automation technologies continue to develop, so does their adoption by industry. A recent study found that automation is growing even faster than expected, and by 2025 it is predicted that industrial automation will account for 37% of the workforce.

According to a recent SkyQuest survey of the industrial automation market, CEOs of companies that have invested in industrial automation say technology has been key to their success. In fact, nearly 2/3 of respondents said industrial automation has helped them increase production and improve efficiency. In addition, almost 50% of these companies say that technology has increased their competitiveness and allowed them to attract new customers.

AI and Blockchain technology are trending in the industrial automation market

One of the most pressing issues facing industrial automation today is reliability. With an increasing number of devices and systems interacting with each other, it is essential that these systems work as intended and without problems. Here are some of the major trends happening today in industrial automation:

  • Increased use of AI and machine learning: Machine learning is playing a bigger role in industrial automation, allowing systems to learn over time and identify patterns. This can help eliminate inaccurate or problematic operations, making your plant more reliable overall.
  • Increased use of blockchain technology: Blockchain is becoming increasingly popular in the industrial automation market due to its secure capabilities and ability to track transactions accurately. This can simplify data management and ensure accurate record keeping, making your plant more efficient overall.
  • Adoption of cloud-based systems for factory operations management: As manufacturing continues to move towards leaner and more automated production lines, many companies are turning to cloud-based systems to help manage their operations. Cloud-based systems allow factories to outsource certain factory tasks, such as data entry and machine maintenance, making it easier for companies to focus on their core product.

Smart manufacturing is gaining momentum in the industrial automation market

Manufacturing is not just a physical process. It is also a digital process. The rise of smart manufacturing technologies means that factories can now control and monitor their processes in real time, enabling more efficient production and improved safety. Today, the automotive, electronics and consumer packaged goods sectors contribute approximately 65% ​​of the global industrial automation market revenue. The automotive sector is experiencing steady growth due to increasing demand for safety features, enhanced functionality, efficient fuel economy, and increased adoption of smart mobility solutions. In addition, the automotive industry is also witnessing an increasing popularity of hybrid and electric vehicles, which contributes to the growth momentum of this sector.

The most common types of smart manufacturing technologies are robotics, sensors, and machine learning algorithms. Robotics helps factories automate tasks and functions so they can be performed faster and with greater precision. Sensors allow factories to monitor conditions inside and outside the factory, and they can transmit this information to processors for analysis.

According to SkyQuest analysis, machine learning is used to improve a variety of processes and operations. For example, it can be used to optimize production lines, predict customer needs, and even determine when products need to be replaced. Additionally, it can be used to improve predictive maintenance and forecasting. Moreover, it can also be used to develop stand-alone systems.

Today, manufacturers in the global industrial automation market are opting for smart manufacturing due to the following key factors:

  • Reduction of production costs
  • Improved safety and quality
  • Increased flexibility in production planning
  • Reduced wastage of raw materials
  • Reduced risk of production errors

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Key players in the global industrial automation market

  • Emerson Electric Co. (USA)
  • General Electric Company (USA)
  • Honeywell International Inc. (USA)
  • Mitsubishi Electric Corporation (Japan)
  • Omron Corporation (Japan)
  • Rockwell Automation Inc. (USA)
  • Schneider Electric SE (France)
  • Siemens AG (Germany)
  • Yokogawa Electric Corporation (Japan)

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Norma A. Roth