Report : North America Industrial Automation Market Forecast to 2030 – Regional Analysis – by Component (Hardware and Software), System (Supervisory Control and Data Acquisition, Distributed Control System, Programmable Logic Control, and Other), and End User (Oil & Gas, Automotive, Food & Beverages, Chemical & Materials, Aerospace & Defense, and Others)
At 8.1% CAGR, the North America Industrial Automation Market is speculated to be worth US$ 82,247.8 Million by 2030, says Business Market Insights
According to Business Market Insights’ research, the North America industrial automation market was valued at US$ 44,180.8 million in 2022 and is expected to reach US$ 82,247.8 million by 2030, registering a CAGR of 8.1% from 2022 to 2030. Rising uptake of automation across food & beverage industry and surging demand for automation in the e-commerce industry are among the critical factors attributed to the North America industrial automation market expansion.
The increasing number of online shoppers is constantly influencing the adoption of automation across the e-commerce industry. Significant automation applications across the sector include workflow process automation and automated storage and inventory retrieval.
Inventory sold by e-commerce sellers is stored in warehouses, and to reduce the time for sorting and stocking of these products, Automated Storage and Retrieval Systems (ASRS) seems to be one of the best tools. The purchasing pattern of consumers is moving toward online shopping. For instance, more than 60% of the population in the US is engaged in online shopping. Further, customers expect faster delivery time, owing to which e-commerce players are adopting automation in their processes. The fluctuations in demand of stock-keeping units (SKUs) create complexities in picking operations, which slows down the fulfillment process.
The demand for automation in e-commerce is highly varying, owing to which the forward pick areas must be continuously adjusted to aid the fluctuation in demand. Along with managing SKU demand fluctuations, an ASRS also advances the fulfillment process, thus allowing e-commerce and omnichannel retailers to adhere better to service level agreements by fulfilling order delivery commitments.
Several e-commerce giants have also increased their investment in automating their warehouse facilities over the years. In August 2022, The Kroger Co., announced the expansion of its customer fulfillment center (CFC) network, supported by Ocado Group’s technology. Two new CFCs are automated by utilizing technology from Ocado Group. The first such automated CFC was opened in April 2021. Additionally, new products and technologies are being launched regularly to support the growing automation of warehouses. For instance, in June 2022, Amazon announced the launch of a new fleet of robots and automated systems. An autonomous robot, named Proteus, and robotic system titled Cardinal, was announced by Amazon. As per the company, Proteus allows for full autonomy of the warehouse floor and can operate in a manner that augments simple, safe interaction between technology and people. These factors are expected to boost the growth of the North America industrial automation market over the forecast period.
On the contrary, the requirement of high initial investment hampers the North America industrial automation market.
Based on component, the North America industrial automation market is segmented into hardware and software. The hardware segment held 67.5% share of North America industrial automation market in 2022, amassing US$ 29.84 billion. It is projected to garner US$ 57.16 billion by 2030 to expand at 8.5% CAGR during 2022–2030. The hardware is further sub segmented into motors and drives, robots, sensors, machine vision systems, and others.
Based on system, the North America industrial automation market is segmented into supervisory control and data acquisition, distributed control system, programmable logic control, and other. The distributed control system segment held 28.3% share of North America industrial automation market in 2022, amassing US$ 12.51 billion. It is projected to garner US$ 25.01 billion by 2030 to expand at 9.0% CAGR during 2022–2030.
Based on end user, the North America industrial automation market is segmented into oil & gas, automotive, food & beverage, chemical & materials, aerospace & defense, and others. The automotive segment held 28.1% share of North America industrial automation market in 2022, amassing US$ 12.42 billion. It is projected to garner US$ 25.63 billion by 2030 to expand at 9.5% CAGR during 2022–2030.
Based on country, the North America industrial automation market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.6% share of North America industrial automation market in 2022. It was assessed at US$ 36.93 billion in 2022 and is likely to hit US$ 68.36 billion by 2030, exhibiting a CAGR of 8.0% during 2022–2030.
Key players operating in the North America industrial automation market are ABB Ltd, Bosch Rexroth AG, Emerson Electric Co, Hitachi Ltd, Honeywell International Inc, Mitsubishi Electric Corp, OMRON Corp, Rockwell Automation Inc, Schneider Electric SE, and Siemens AG, among others.
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