Industrial Automation Market Trends, Drivers, Size & Forecast 2034
- Pallavi Garudkar
- Mar 10
- 3 min read
According to Fortune Business Insights the global industrial automation market size was estimated at USD 272.51 billion in 2025. The market is expected to rise from USD 299.21 billion in 2026 to USD 632.12 billion by 2034, expanding at a CAGR of 9.80% from 2026 to 2034. The industrial automation market refers to the use of control systems, robotics, computer software, and information technologies to automate industrial processes and manufacturing operations. Automation helps industries improve productivity, operational efficiency, safety, and product quality by reducing manual labor and human errors.
Industrial automation systems are widely used in industries such as automotive, electronics, oil & gas, chemicals, food & beverage, and pharmaceuticals to streamline manufacturing and improve production efficiency.
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Market Insights
What are the key insights of the Industrial Automation Market?
Industries are increasingly adopting automation to reduce production costs and improve operational efficiency.
The rise of smart manufacturing and digital transformation is accelerating automation adoption across multiple sectors.
Technologies such as AI, machine learning, robotics, and industrial IoT are transforming modern manufacturing processes.
Increasing labor costs and the need for high-precision manufacturing are encouraging companies to adopt automated systems.
Market Segmentation
The industrial automation market is segmented based on component, industry, and region.
By Component
Hardware
Software
The software segment is expected to dominate the market due to increasing demand for advanced automation software such as SCADA, human-machine interface (HMI), and manufacturing operations management (MOM) software.
By Industry
Discrete Industries
Automotive
Electronics
Heavy Manufacturing
Packaging
Process Industries
Oil & Gas
Chemicals
Mining & Metals
Pulp & Paper
Healthcare
The automotive and electronics industries are major adopters of industrial automation technologies due to their need for high-precision manufacturing and mass production.
Market Drivers
Rising Adoption of Industry 4.0: The integration of digital technologies, robotics, AI, and industrial IoT is transforming manufacturing operations and boosting automation demand.
Increasing Demand for Operational Efficiency: Automation helps companies reduce labor costs, improve product quality, and increase production speed.
Growth of Industrial Robotics: Industrial robots are widely used in manufacturing processes such as welding, assembly, packaging, and inspection, improving productivity and accuracy.
Expansion of Smart Manufacturing: The implementation of smart factories and connected industrial systems is accelerating the adoption of automation technologies.
Key Takeaways
The industrial automation market is projected to reach USD 632.12 billion by 2034.
Increasing adoption of Industry 4.0, robotics, and AI-based manufacturing solutions is driving market growth.
The software segment is expected to dominate the component category.
Europe currently leads the market, while Asia Pacific is expected to grow rapidly.
Key Players in the Industrial Automation Market
ABB Ltd. (Switzerland)
Emerson Electric Co. (U.S.)
General Electric Company (U.S.)
Honeywell International Inc. (U.S.)
Mitsubishi Electric Corporation (Japan)
Omron Corporation (Japan)
Rockwell Automation Inc. (U.S.)
Schneider Electric SE (France)
Siemens AG (Germany)
Key Industry Development:
July 2021-Rockwell Automation Inc. collaborated with a cloud-based product digitalization and traceability platform, Kezzler AS. The partnership aims to enable manufactures to capture their product's end-to-end journey from raw material sources to the point of sale or beyond by using cloud-based chain solutions.
July 2021- Siemens AG expanded partnership with SAP SE to deliver a new solution for the services and asset lifecycle management. The partnership aims to connect plant floor operations, product development through digital twins, and remote condition monitoring with original equipment manufacturers (OEMs) to facilitate collaboration across the asset lifecycle.
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