Industry: Semiconductor & Electronics | Publish Date: 09-Oct-2024 | No of Pages: 123 | No. of Tables: 89 | No. of Figures: 54 | Format: PDF | Report Code : SE997
The Australia Industrial Process Automation Market size was valued at USD 379.7 million in 2023, and is predicted to reach USD 648.6 million by 2030, at a CAGR of 7.4% from 2024 to 2030. The industrial process automation sector represents the industry that delivers technologies and systems aimed at monitoring, controlling, and optimizing industrial operations.
It involves integrating advanced computer technology, hardware, and software to automate critical processes such as inventory management, manufacturing, production, and quality control. Key technologies driving automation in this market include sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control and data acquisition (SCADA) systems.
This market supports industries such as oil and gas, chemical processing, food and beverage, and pharmaceuticals, where automation is essential for enhancing efficiency, improving product quality, and ensuring workplace safety.
By reducing operational costs and minimizing human errors, industrial process automation helps companies streamline production processes, delivering higher output with greater precision. As businesses aim to improve productivity and remain competitive in an increasingly automated global manufacturing landscape, the demand for industrial IoT solutions continue to rise.
The mining industry is a crucial pillar of the Australian economy, being one of the leading global exporters of commodities such as coal, iron ore, bauxite, lithium, and alumina. Additionally, Australia holds the world’s largest estimated gold reserves. To enhance efficiency, safety, and sustainability in mining operations, the industry increasingly utilizes industrial process automation systems, including Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), and Human-Machine Interfaces (HMI).
These systems are essential for tasks such as ore extraction and processing. Consequently, the mining sector's reliance on advanced automation technologies significantly contributes to the growth of the industrial process automation market in Australia.
The growing initiatives by research centers to advance digitization and industrial automation are expected to further drive the Australia industrial process automation market demand.
For example, in February 2023, the Innovative Manufacturing Cooperative Research Centre (IMCRC) appointed the Australian Industry Group (Ai Group) to manage futuremap, a diagnostic platform designed to aid small and medium-sized enterprises (SMEs) in adopting digital transformation through automation solutions. This platform assists SMEs in identifying opportunities for implementing automation technologies, such as PLCs, industrial sensors, and HMIs.
By providing a structured roadmap for integrating these solutions, futuremap supports SMEs in enhancing their operational efficiency, that in turn contributes to the growing market for industrial process automation systems in the country.
The absence of standardization poses a significant challenge to the Australia industrial process automation market expansion. Without established standards, vendors may develop proprietary systems that are difficult to replace or upgrade. This can lead to vendor lock-in, where companies become dependent on a specific vendor's technology, limiting their ability to switch vendors.
Vendor lock-in can result in higher costs, reduced flexibility, and decreased innovation, that hinders the market growth. Companies may be reluctant to invest in automation systems if they are concerned about being tied to a particular vendor, that further restrict industry development.
The advancements in industry 4.0 such as the internet of things (IoT), cloud computing, and artificial intelligence (AI), are opening up significant opportunities for the industrial process automation market.
These technologies allow companies to gather and analyze large amounts of data in real-time, offering valuable insights into their operations and highlighting areas for improvement. As technology evolves quickly, market participants are partnering with tech-focused companies to create new solutions based on established technologies.
Several players operating in the Australia industrial process automation industry include Siemens AG, Honeywell International, Schneider Electric, Mitsubishi Electric, Rockwell Automation, Emerson Electric Co., ABB Ltd., Omron Corp., Fanuc Corp., Toshiba Corp., and others.
Manufacturing Execution Systems
Hardware
Software
Services
Distributed Control Systems
Hardware
Software
Services
Programmable Logic Control
Hardware
Software
Services
Supervisory Control and Data Acquisition (SCADA)
Hardware
Software
Services
Field Instruments
Industrial Robots
Process Analyzers & Drives
Oil & Gas
Chemical & Refining
Energy & Power
Pulp & Paper
Metals & Mining
Pharmaceutical
Cement & Glass
Others
Siemens AG
Honeywell International
Schneider Electric
Mitsubishi Electric
Rockwell Automation
Emerson Electric Co.
ABB Ltd.
Omron Corp.
Fanuc Corp.
Toshiba Corp.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 379.7 Million |
Revenue Forecast in 2030 |
USD 648.6 Million |
Growth Rate |
CAGR of 7.4% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
|
Companies Profiled |
10 |
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. |