Industry: Semiconductor & Electronics | Publish Date: 08-Nov-2023 | No of Pages: 142 | No. of Tables: 109 | No. of Figures: 53 | Format: PDF | Report Code : N/A
North America Industrial Process Automation Market was valued at USD 15.79 billion in 2022, and is predicted to reach USD 24.78 billion by 2030, with a CAGR of 4.82% from 2023 to 2030. Industrial process automation refers to the use of computer technology, along with hardware to control & monitor industrial processes such as inventory management, manufacturing, and production of goods.
It involves the integration of various technologies and systems, such as sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control & data acquisition (SCADA) systems, to streamline and optimize production processes including quality control, assembling, testing & inspection, packaging & labeling.
Process automation is applied to a wide range of industries, including oil & gas, chemical processing, food & beverage, and pharmaceuticals, among others. The goal of process automation is to improve efficiency, quality, and safety while reducing costs & minimizing human error.
Thus, industrial process automation plays a significant role in modern manufacturing & production, enabling companies to operate more efficiently, produce higher-quality products, and create safer working environments for their employees when compared to traditional manual methods.
North America is a hub for technological innovation, which drives the adoption of automation across numerous industries. Developments such as 5G networks, edge computing, and block chain technology enable businesses to automate processes across their entire supply chain, from production to post-delivery support.
This leads to greater levels of efficiency, productivity, and responsiveness, as businesses can quickly respond to changes in demand and supply. Developments such as collaborative robots and advanced sensors enable businesses to automate tasks that are dangerous or difficult for humans to perform. Thus, it is expected to boost the growth of the market.
The labor costs in North America are generally higher than in many other regions, such as Asia and South America. This drives the adoption of automation technologies that can help businesses reduce their reliance on labor and improve productivity. Developments in robotics, artificial intelligence, and machine learning enable businesses to automate more complex tasks, giving them a competitive edge in the global market.
Lack of standardization is a significant challenge that can restrain the growth of the industrial process automation market. In the absence of standards, vendors may create proprietary systems that are difficult to replace or upgrade. This may lead to vendor lock-in, as companies become reliant on the technology of a particular vendor, limiting their ability to work with different vendors.
Vendor lock-in can lead to higher costs, lower flexibility, and less innovation, which can negatively impact the growth of the industrial process automation market. Companies may be hesitant to invest in automation systems if they are concerned about being locked into a particular vendor's technology, limiting the growth of the market.
The increasing adoption of cloud-based automation solutions presents a significant growth opportunity for the industrial process automation industry. These solutions offer several benefits such as increased efficiency, productivity, and profitability for businesses. They can be easily scaled up or down, making them suitable for businesses of all sizes. Additionally, cloud-based solutions provide greater control and visibility into industrial processes, and can significantly reduce the costs associated with maintaining and upgrading hardware, software, and infrastructure.
Cloud-based automation solutions can significantly reduce the costs associated with maintaining & upgrading hardware, software, and infrastructure. As a result, companies can focus on their core competencies and invest resources in other areas of their business. With several companies investing in cloud-based solutions for managing and utilizing 3D data obtained from reality capture devices, it is evident that there is a growing interest in adopting these technologies.
For instance, in January 2022, Accenture strategically invested through Accenture Ventures, in Cintoo, a provider of cloud-based solutions to manage and utilize 3D data obtained from reality capture devices. As a result, continued growth and innovation in the industrial process automation industry is expected in the future.
As one of the largest and most complex manufacturing sectors, automotive production involves a wide range of processes that can benefit from automation, such as assembly line operations, quality control, and supply chain management. Process automated systems are also used to track inventory levels, optimize production schedules, and ensure that parts and components are delivered to the assembly line on time. According to the U.S. Bureau of Labor Statistics, the sales of electric vehicle in the U.S. is expected to reach 40%of total passenger car sales by 2030.
Moreover, the manufacturing industry is expanding significantly in the country, whereas employment in the manufacturing sector declined over the past two decades due to the offshoring and economic recession. This accelerated the use of automation throughout the industrial sector, thereby, reducing production costs. The above-mentioned factors boost the industrial process automation in the country.
Automation, robotics, and artificial intelligence have all played a significant role in improving the efficiency and accuracy of industrial processes & distribution operations. This has helped companies to reduce costs, increase productivity, and improve customer satisfaction.
For instance, in January 2023, ABB introduced a new technology and engineering centre in Mexico to boost the firm’s automation, electrical, and software engineering capabilities in the North American region. The centre will initially serve orders from process industries such as mining, pulp & paper, battery manufacture, and metals that are in the pipeline for ABB. The process and hybrid industries can benefit from the automation, electrification, and digitalization capabilities offered by ABB's process automation business.
The North America Industrial Process Automation industry includes several market players such as Hitachi Ltd, Yokogawa Electric, Siemens AG, Mitshubishi Electric Corporation, Honeywell International Inc., ABB Ltd, Toshiba Corporation, Emerson Electric Co., Rockwell Automation Inc, Omron Corporation, and Fanuc Corporation, Schneider Electric SE, Endress+Hauser, Valmet OYJ, and Dwyer Instruments Inc.
MES
Hardware
Software
Services
DCS
Hardware
Software
Services
PLC
Hardware
Software
Services
SCADA
Hardware
Software
Services
Field Instruments
Industrial Robots
Human Machine Interface
Process Analyzers and Drives
Oil and Gas
Chemicals and Refining
Energy and Power
Pulp and Paper
Metals and Mining
Pharma
Cement & Glass
Others
North America
U.S.
Canada
Mexico
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2022 |
USD 15.79 Billion |
Revenue Forecast in 2030 |
USD 24.78 Billion |
Growth Rate |
CAGR of 4.82% from 2023 to 2030 |
Analysis Period |
2022–2030 |
Base Year Considered |
2022 |
Forecast Period |
2023–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
The high labour cost. Growing technological innovations. |
Countries Covered |
3 |
Companies Profiled |
15 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Hitachi Ltd
Yokogawa Electric
Siemens AG
Mitshubishi Electric Corporation
Honeywell International Inc.
ABB Ltd
Toshiba Corporation
Emerson Electric Co.
Rockwell Automation Inc
Omron Corporation
Fanuc Corporation
Schneider Electric SE
Endress+Hauser
Valmet OYJ
Dwyer Instruments Inc.