Automation Control Components and Devices Market Size was valued at USD 66.45 billion in 2022 and is expected to reach USD 158.75 billion by 2030, and grow at a CAGR of 11.5% over the forecast period 2023-2030.
Industrial automation is the use of control systems, such as computers and other IT systems, to control various processes in an industry in order to free up human capital. Automation improves output rate and efficiency while lowering production costs by integrating advanced and integrated technology. The increased adoption of smart systems, components, and smart machinery and equipment for the improvement of processes through automation and self-optimization has resulted in the creation of smart factories for planning, supply chain logistics, and product development, thus increasing the Automation Control Components and Devices Market Trends. Several industrial businesses are aiming to become smart factories. Government initiatives to promote industrial automation, the adoption of emerging technologies such as IoT and AI in industrial environments, an emphasis on industrial automation and optimal resource utilisation, and fiscal policies devised by regional financial institutions to keep manufacturing facilities afloat in the midst of the COVID-19 crisis are among the factors driving the growth of the Automation Control Components and Devices Market.
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KEY DRIVERS:
In industries, there is a growing demand for industrial automation.
Government policies that encourage the use of industrial automation.
RESTRAINTS:
Industries are experiencing rapid technological change.
ongoing upkeep and upgrades
The associated high cost is a deterrent.
OPPORTUNITIES:
Development In Industrial Robotics.
CHALLENGES:
This will be covered under the final version of the report.
Lockdowns implemented in a number of countries since the outbreak of COVID-19 have had a negative impact on the Automation Control Components and Devices Market Size and Automation Control Components and Devices Market Share. To combat the epidemic, several countries have ordered the shutdown of all manufacturing plants. Because of the epidemic, all imports and exports of non-essential products have been prohibited, which has had a significant impact on the electronics industry. The outbreak has had an impact on various businesses' production operations, including the automobile and electronics industries. In contrast, demand is expected to recover in the coming months and expand in the coming years. Robots are expected to gain popularity in restaurants and bars, reducing human interaction and spreading COVID-19. As a result, there will be an increase in demand for automation control components and devices. The negative impact of COVID-19 will be mitigated in the long run, and demand for automation control components and devices will increase in the coming years. The growth of the automation control components and devices market is being driven by government initiatives encouraging the implementation of industrial automation, as well as rising demand for industrial automation across industries.
Based on type, the automation control components and device market are segmented into Relays/Couplers, Switches, and Connectors. Based on application, the automation control components and device market are segmented into Automotive, Oil & Gas, Mining & Metals, Aerospace & Aviation, Manufacturing, Energy & Power, Electronics & semiconductors, and Military Defense.
BY TYPE
Relays/Couplers
Switches
Connectors
BY APPLICATION
Automotive
Oil & Gas
Mining & Metals
Aerospace & Aviation
Manufacturing
Energy & Power
Electronics & Semiconductor
Military Defense
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North America dominated the market during the previous forecast period, but Asia-Pacific is expected to grow at the fastest rate throughout the forecast period. The region's growing acceptance of automation control components and devices is aided by the region's strong demand for automation components in the oil and gas, metals, and mining industries, the presence of major manufacturers and the introduction of digital technologies. These factors have a significant impact on manufacturers' ability to develop automation control components and devices.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the automation control components and device market are Panasonic Corporation, ABB Limited, Delta Electronics, Encoder Products Company, Honeywell International Inc., Omron Corporation, Phoenix Contact, Schneider Electric SE, Rockwell Automation, and Siemens AG.
Panasonic Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 66.45 Billion |
| Market Size by 2030 | US$ 158.75 Billion |
| CAGR | CAGR of 11.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Relays/Couplers, Switches, Connectors) • By Application (Automotive, Oil & Gas, Mining & Metals, Aerospace & Aviation, Manufacturing, Energy & Power, Electronics & Semiconductor, Military Defense) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Panasonic Corporation, ABB Limited, Delta Electronics, Encoder Products Company, Honeywell International Inc., Omron Corporation, Phoenix Contact, Schneider Electric SE, Rockwell Automation, and Siemens AG. |
| Key Drivers | • In industries, there is a growing demand for industrial automation. • Government policies that encourage the use of industrial automation. |
| RESTRAINTS | • Industries are experiencing rapid technological change. • ongoing upkeep and upgrades |
The market value is expected to reach USD 158.75 billion by 2030.
The market has been segmented with respect to product, end-use and application.
Europe region is dominating the Automation and Control Market.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Automation Control Components and Devices Market Segmentation, by type
8.1Introduction
8.2 Relays/Couplers
8.3 Switches
8.4 Connectors
9. Automation Control Components and Devices Market Segmentation, by application
9.1Introduction
9.2 Automotive
9.3 Oil & Gas
9.4 Mining & Metals
9.5 Aerospace & Aviation
9.6 Manufacturing
9.7 Energy & Power
9.8 Electronics & Semiconductor
9.9 Military Defense
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11.Company Profiles
11.1 Siemens AG
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Panasonic Corporation
11.3 ABB Limited
11.4 Delta Electronics
11.5 Encoder Products Company
11.6 Honeywell International Inc.
11.7 Omron Corporation
11.8 Phoenix Contact
11.9 Schneider Electric SE
11.10 Rockwell Automation
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share Analysis
12.3 Recent Developments
13.Conclusion
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