Electrical Automation Market - Forecast(2024 - 2030)

Report Code: AIR 0256 Report Format: PDF + Excel

Electrical Automation Market Overview

The Electrical Automation Market size is estimated to reach $54.2 billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030. The Electrical Automation Market has witnessed significant growth driven by advancements in technology, increasing demand for energy-efficient solutions, and automation across various industries. This market encompasses a wide range of products and services aimed at streamlining processes, enhancing productivity, and improving operational efficiency.

One major trend in the Electrical Automation Market is the adoption of Industrial Internet of Things (IIoT) technologies. IIoT enables seamless connectivity between devices, sensors, and systems, facilitating data exchange and real-time monitoring. This connectivity allows for predictive maintenance, remote monitoring, and optimization of industrial processes, leading to improved asset utilization and reduced downtime. Another prominent trend is the integration of artificial intelligence (AI) and machine learning (ML) into electrical automation systems. AI and ML algorithms analyze vast amounts of data generated by automation systems to identify patterns, optimize processes, and make intelligent decisions. This integration enhances the efficiency and effectiveness of automation solutions, driving better performance and outcomes for businesses.

Furthermore, there is a growing focus on sustainability and environmental responsibility in the Electrical Automation Market. Manufacturers and industries are increasingly adopting eco-friendly automation solutions to reduce energy consumption, minimize waste, and lower carbon emissions. This shift towards sustainability aligns with global efforts to combat climate change and promote sustainable development.

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Report Coverage

The report: “Electrical Automation Industry Outlook – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Electrical Automation industry.
By Type: Fixed or Hard Automation, Programmable Automation, Flexible or Soft Automation.
By Process: Sensors, Actuators, Controllers, and Others.
By EA Tools: Human Machine Interface (HMI), Distributed Control System (DCS), Robotics, and Others.
By Functional Area: Industrial Electrical Automation, Building Electrical Automation, and Others.
By Application: Lift Control, Robotics, Energy & Emissions, Gas Measurement & Regulation, Traffic, Industrial Security, Lighting, Marine, Mobile Machinery, Commercial Vehicles, Production Systems and lines, Boilers and Power Plants.
By Geography: North America (U.S., Canada, Mexico), South America (Brazil, Argentina, Chile, Colombia, and Rest of South America), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), APAC (China, Japan, South Korea, India, Australia & New Zealand, Thailand, Malaysia and Rest of APAC) and RoW (Middle East and Africa).
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Electrical Automation Market Segment Analysis - by Building Electrical Automation

Based on Functional Area, the Building Electrical Automation segment in the Electrical Automation Market report is analyzed to grow with the highest CAGR of 5.94% during the forecast period 2024-2030. Building automation is an example of a distributed control system, it’s an amalgamation of electrical hardware and communication network technology aimed at monitoring and controlling the mechanical, security, fire and flood safety, lighting, HVAC and humidity control and ventilation systems in a building. It is an effective tool for energy conservation and at the same time to regulate electric power distribution throughout the infrastructure. As per the Global Alliance for Building and Construction, energy demand in buildings could increase by 50%, while global building floor area is expected to double by 2050. Thus, leveraging the global issue of energy security, electrical automation in buildings is forecast to submit substantial demands in the market.

Electrical Automation Market Segment Analysis - by Process

In the segmentation of the Electrical Automation Market by process, the controllers segment dominates the market with a major share. Controllers play a crucial role in electrical automation systems by regulating and coordinating various components such as sensors, actuators, and other devices. They act as the brain of automation systems, processing input data, executing control algorithms, and generating output signals to achieve desired outcomes. With the increasing adoption of automation across industries such as manufacturing, automotive, and healthcare, the demand for advanced controllers continues to rise. As a result, the controllers segment holds a significant share in the Electrical Automation Market, driving innovation and growth in the industry.

Electrical Automation Market Segment Analysis - by Geography

Asia-Pacific dominated the global market for Electrical Automation Market with a market share of around 38% in 2023 and is also analyzed to have significant growth over the forecasting period. Renowned for its technological advancements and robust industrial infrastructure, the region serves as a key hub for the adoption of electrical automation solutions across various sectors, including manufacturing, energy, and healthcare. Factors such as increasing investments in smart manufacturing technologies, growing emphasis on industrial efficiency and productivity, and the presence of leading automation solution providers contribute to the region's leadership in the market. Moreover, favourable government initiatives and policies aimed at promoting automation further bolster the market's growth trajectory in Asia-Pacific, solidifying its position as a powerhouse in the global Electrical Automation Market.

Electrical Automation Market Drivers

Technological Advancements
Continuous advancements in electrical automation technologies, such as artificial intelligence, machine learning, and Internet of Things (IoT), are driving the growth of the market. These innovations enable enhanced automation capabilities, improved efficiency, and real-time monitoring and control of electrical systems. For instance, IoT integration allows for predictive maintenance, reducing downtime and optimizing operational performance. Additionally, advancements in robotics and automation software empower industries to streamline production processes, minimize human intervention, and achieve higher levels of productivity and accuracy.
Increasing Demand for Energy Efficiency
With growing environmental concerns and regulatory requirements, there is a rising demand for energy-efficient solutions in various industries. Electrical automation technologies offer opportunities for optimizing energy consumption, reducing waste, and enhancing sustainability. By implementing automation systems for lighting, HVAC, and power management, organizations can effectively monitor and control energy usage, leading to cost savings and environmental benefits. Moreover, the integration of renewable energy sources with automation systems further promotes sustainable practices and supports the transition towards a greener future.

Electrical Automation Market Challenges

High cost of implementation hampering the Electrical Automation market growth
A major factor restraining the electrical automation market is its expensive cost of implementation with economically marginalized vendors deprived of its application. Majority of the electrical automation demand is from technologically developed economies with the larger markets of under-developed nations not being capitalized. However, with influx of investments into R&D targeting commercializing of electrical automation is foreseen to expand the market size and converge is with untouched arcades globally. And also, with global population expanding unrestrainedly, automation is an imperative asset for efficient production demand otherwise industries will fall short of production as per the requirements.

Electrical Automation Industry Outlook

Product launches, collaborations, and R&D activities are key strategies adopted by players in the Electrical Automation Market. Electrical Automation's top 10 companies include
1. ABB Ltd
2. Siemens AG
3. Schneider Electric
4. Emerson Process Management
5. Rockwell Automation
6. Honeywell process solutions
7. Yokogawa electric
8. Omron automation
9. Mitsubishi Electric
10. Danaher Industrial Ltd.
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1. Electrical Automation Market - Overview
    1.1. Definitions and Scope
2. Electrical Automation Market - Executive summary
    2.1. Market Revenue, Market Size and Key Trends by Company
    2.2. Key Trends by type of Application
    2.3. Key Trends segmented by Geography
3. Electrical Automation Market 
    3.1. Comparative analysis
        3.1.1. Product Benchmarking - Top 12 companies
        3.1.2. Top 5 Financials Analysis
        3.1.3. Market Value split by Top 12 companies
        3.1.4. Patent Analysis - Top 12 companies
        3.1.5. Pricing Analysis 
4. Electrical Automation Market – Startup companies Scenario Premium Premium
    4.1. Top 12 startup company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Market Shares
        4.1.4. Market Size and Application Analysis
        4.1.5. Venture Capital and Funding Scenario
5. Electrical Automation Market – Industry Market Entry Scenario Premium Premium
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing business index
    5.3. Case studies of successful ventures
    5.4. Customer Analysis – Top 12 companies
6. Electrical Automation Market Forces
    6.1. Drivers
    6.2. Constraints
    6.3. Challenges
    6.4. Porters five force model
        6.4.1. Bargaining power of suppliers
        6.4.2. Bargaining powers of customers
        6.4.3. Threat of new entrants
        6.4.4. Rivalry among existing players
        6.4.5. Threat of substitutes 
7. Electrical Automation Market - Strategic analysis
    7.1. Value chain analysis
    7.2. Opportunities analysis
    7.3. Product life cycle
    7.4. Suppliers and distributors Market Share
8. Electrical Automation Market – By Types (Market Size -$Million / $Billion)
    8.1. Market Size and Market Share Analysis 
    8.2. Application Revenue and Trend Research
    8.3. Product Segment Analysis
        8.3.1. Fixed or Hard Automation
        8.3.2. Programmable Automation
        8.3.3. Flexible or Soft Automation
9. Electrical Automation Market – By Process (Market Size -$Million / $Billion)
    9.1. Sensors
    9.2. Actuators
    9.3. Controllers
    9.4. Others
10. Electrical Automation Market – By EA Tools (Market Size -$Million / $Billion)
    10.1. Human Machine Interface (HMI)
    10.2. Distributed Control System (DCS)
    10.3. Robotics
    10.4. Others
11. Electrical Automation Market – By Functional Area (Market Size -$Million / $Billion)
    11.1. Industrial Electrical Automation
        11.1.1. Electrical Components & Lighting
        11.1.2. Controllers
        11.1.3. Industrial Robots
        11.1.4. Compressors
        11.1.5. Processing Machines
        11.1.6. Remote Monitoring Systems (RMS)
        11.1.7. Switchboards
        11.1.8. Power Monitoring
        11.1.9. Industrial Sensors
        11.1.12. Human Machine Interface
    11.2. Building Electrical Automation
        11.2.1. Wiring Accessories
        11.2.2. Automation Cabinets
        11.2.3. Main Switchboard
        11.2.4. Consumer Units
        11.2.5. Others
    11.3. Others
12. Electrical Automation Market – By Application (Market Size -$Million / $Billion)
    12.1. Lift Control
    12.2. Robotics
    12.3. Energy & Emissions
    12.4. Gas Measurement & Regulation
    12.5. Traffic
        12.5.1. Monitor and Analyze
    12.6. Industrial Security
    12.7. Lighting
    12.8. Marine
    12.9. Mobile Machinery
    12.10. Commercial Vehicles
    12.11. Production Systems and lines
    12.12. Boilers and Power Plantsb
        12.12.1. Monitoring
13. Electrical Automation - By Geography (Market Size -$Million / $Billion)
    13.1. Electrical Automation Market - North America Segment Research
    13.2. North America Market Research (Million / $Billion)
        13.2.1. Segment type Size and Market Size Analysis 
        13.2.2. Revenue and Trends
        13.2.3. Application Revenue and Trends by type of Application
        13.2.4. Company Revenue and Product Analysis
        13.2.5. North America Product type and Application Market Size
    13.3. Electrical Automation - South America Segment Research
    13.4. South America Market Research (Market Size -$Million / $Billion)
        13.4.1. Segment type Size and Market Size Analysis 
        13.4.2. Revenue and Trends
        13.4.3. Application Revenue and Trends by type of Application
        13.4.4. Company Revenue and Product Analysis
        13.4.5. South America Product type and Application Market Size
   Rest of South America
    13.5. Electrical Automation - Europe Segment Research
    13.6. Europe Market Research (Market Size -$Million / $Billion)
        13.6.1. Segment type Size and Market Size Analysis 
        13.6.2. Revenue and Trends
        13.6.3. Application Revenue and Trends by type of Application
        13.6.4. Company Revenue and Product Analysis
        13.6.5. Europe Segment Product type and Application Market Size
   Rest of Europe
    13.7. Electrical Automation – APAC Segment Research
    13.8. APAC Market Research (Market Size -$Million / $Billion)
        13.8.1. Segment type Size and Market Size Analysis 
        13.8.2. Revenue and Trends
        13.8.3. Application Revenue and Trends by type of Application
        13.8.4. Company Revenue and Product Analysis
        13.8.5. APAC Segment – Product type and Application Market Size
   South Korea
   Rest of APAC
14. Electrical Automation Market - Entropy
    14.1. New product launches
    14.2. M&A's, collaborations, JVs and partnerships
15. Electrical Automation Market – Industry / Segment Competition landscape Premium Premium
    15.1. Market Share Analysis
        15.1.1. Market Share by Country- Top companies
        15.1.2. Market Share by Region- Top companies
        15.1.3. Market Share by type of Application – Top companies
        15.1.4. Market Share by type of Product / Product category- Top companies
    15.2. Best Practises for companies
16. Electrical Automation Market – Key Company List by Country Premium Premium
17. Electrical Automation Market Company Analysis
    17.1. Market Share, Company Revenue, Products, M&A, Developments
    17.2. Siemens
    17.3. ABB
    17.4. Emerson Process Management
    17.5. Rockwell Automation
    17.6. Schneider Electric
    17.7. Honeywell process solutions
    17.8. Mitsubishi electric
    17.9. Yokogawa electric
    17.10. Omron automation
    17.11. Danaher Industrial Ltd.
18. Electrical Automation Market - Appendix
    18.1. Abbreviations
    18.2. Sources
19. Electrical Automation Market - Methodology
    19.1. Research Methodology
        19.1.1. Company Expert Interviews
        19.1.2. Industry Databases
        19.1.3. Associations
        19.1.4. Company News
        19.1.5. Company Annual Reports
        19.1.6. Application Trends
        19.1.7. New Products and Product database
        19.1.8. Company Transcripts
        19.1.9. R&D Trends
        19.1.10. Key Opinion Leaders Interviews
        19.1.11. Supply and Demand Trends
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