Taiwan Industrial Process Automation Market by Component (Manufacturing Execution System (MES), Distributed Control System (DCS), Programmable Logic Control (PLC), Supervisory Control & Data Acquisition (SCADA), Field Instruments, Industrial Robots, and Process Analyzers and Drives), and by End-User (Oil & Gas, Chemical & Refining, Energy & Power, Pulp & Paper, Metals & Mining, Pharmaceutical, Cement & Glass, and Others) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Semiconductor & Electronics | Publish Date: 19-Oct-2024 | No of Pages: 123 | No. of Tables: 89 | No. of Figures: 54 | Format: PDF | Report Code : SE1005
Taiwan Industrial Process Automation Market Overview
Taiwan Industrial Process Automation Market size was valued at USD 147.1 million in 2023, and is predicted to reach USD 181.6 million by 2030, at a CAGR of 2.4% from 2024 to 2030.
The industrial process automation market encompasses the industry that delivers technologies and systems aimed at monitoring, controlling, and optimizing industrial operations. It integrates advanced computer technologies, hardware, and software to automate essential processes such as inventory management, manufacturing, production, and quality control.
Key technologies driving this market include sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control and data acquisition (SCADA) systems. This market caters to industries such as oil and gas, chemical processing, food and beverage, and pharmaceuticals, where automation plays a critical role in enhancing efficiency, product quality, and workplace safety.
By reducing costs and minimizing human errors, industrial process automation market allows companies to streamline production, resulting in higher output with greater accuracy. As businesses increasingly seek to boost productivity and stay competitive in a rapidly automating global manufacturing landscape, the demand for industrial process automation solutions continues to rise.
Growth of Taiwan's Semiconductor Industry Driving Industrial Process Automation
Taiwan's semiconductor industry is a key contributor to the country's economy, heavily relying on industrial automation to stay competitive. According to Taiwan's Ministry of Finance, exports of integrated circuit (IC) chips, essential for electronic appliances, computers, and smartphones, increased by 18.4% in 2022 compared to 2021.
The ongoing Taiwan industrial process automation market expansion of the semiconductor sector is anticipated to drive demand for industrial process automation solutions such as machine vision systems, industrial robots, and Manufacturing Execution Systems (MES). This growing need for automation technologies reflects the industry's commitment to enhancing production efficiency and maintaining global competitiveness.
Investments by Major Players Fueling Industrial Process Automation in Taiwan
The rising investments by major companies such as Delta Electronics and Kenmec Mechanical Engineering Co. Ltd have bolstered Taiwan's position as a key player in industrial process automation. These investments aim to enhance manufacturing capabilities, increase production efficiency, and address the rising Taiwan industrial process automation market demand for automation technologies. For example, in January 2022, Kenmec Mechanical Engineering invested USD 21.67 million to build new manufacturing facilities in New Taipei City, Taiwan.
This move is designed to strengthen its manufacturing capabilities and offer comprehensive solutions to meet the growing need for industrial process automation in the global smart manufacturing sector. Such investments highlight Taiwan's expanding role as a hub for industrial process automation systems, including industrial sensors, robots, and Distributed Control Systems (DCS). As a result, these factors are anticipated to drive the Taiwan industrial process automation market growth.
Lack of Standardization Hinders the Growth of Industrial Process Automation Market
The absence of standardization is a major challenge to the growth of the industrial process automation market. Without established standards, vendors may create proprietary systems that are hard to replace or upgrade. This situation can lead to vendor lock-in, where companies become dependent on a specific vendor's technology, limiting their flexibility and ability to switch vendors.
As a result, higher costs, reduced flexibility, and decreased innovation can occur, hindering market growth. Concerns about being tied to a single vendor can make companies hesitant to invest in automation systems, further restricting market development.
Industry 4.0 Technologies Paving the Way for Future Automation Opportunities
The advancements in industry 4.0 technologies, 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.
Competitive Landscape
Several key operating in Taiwan 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.
Taiwan Industrial Process Automation Market Key Segments
By Component
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Manufacturing Execution Systems
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Hardware
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Software
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Services
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Distributed Control Systems
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Hardware
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Software
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Services
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Programmable Logic Control
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Hardware
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Software
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Services
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Supervisory Control and Data Acquisition (SCADA)
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Hardware
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Software
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Services
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Field Instruments
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Industrial Robots
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Process Analyzers & Drives
By End-User
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Oil & Gas
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Chemical & Refining
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Energy & Power
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Pulp & Paper
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Metals & Mining
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Pharmaceutical
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Cement & Glass
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Others
Key Players
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Siemens AG
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Honeywell International
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Schneider Electric
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Mitsubishi Electric
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Rockwell Automation
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Emerson Electric Co.
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ABB Ltd.
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Omron Corp.
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Fanuc Corp.
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Toshiba Corp.
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 147.1 Million |
|
Revenue Forecast in 2030 |
USD 181.6 Million |
|
Growth Rate |
CAGR of 2.4% 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. |
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