Industrial robotic market is too competitive and there are huge entry barriers for new entrants. However, four major players held 62% market share in global market in 2021. Fanuc, Yaskawa, ABB and Kuka are expected to continue their dominance in forecast period with new advanced technologies and competitive rates.
Industrial Automation Market Scope:
This market report makes extensive use of secondary sources, directories, and databases, such as annual reports, press releases, journals, company websites, and other databases, to discover and collect excerpts acceptable for this study.
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Industrial Automation Market Overview:
The Industrial Automation market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the industry. The scope of the research includes a thorough investigation of the Industrial Automation Market, as well as the reasons for variations in the industry's growth in various locations.
Industrial Automation Market Size was valued at USD 133.10 Billion in 2021, and it is expected to reach USD 217.2 Billion by 2029, exhibiting a CAGR of 8.5 % during the forecast period (2022-2029)
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Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the markets are determined by using secondary sources and verified through the primary sources. The biggest players in.
the Industrial Automation market are as follows:
• ABB Ltd.
• Honeywell International Inc.
• FANUC Corporation
• Yaskawa Electric Corporation
• Toshiba Machine Corporation Ltd.
• Yokogawa Electric Corporation
• Emerson Electric Company
• General Electric Company
• Rockwell Automation, Inc.
• Mitsubishi Electric Corporation
• Voith GmbH
• GE Company
• Honeywell International Incorporation
• Omron Corporation
• Schneider Electric SA
• Siemens AG
• Kuka AG
• Keyence Corporation
• Fanuc Corporation
• Bosch Rexroth
• Fuji Electric Co., Ltd.
• Endress+Hauser AG
• Hitachi Ltd.
• Yaskawa Electric Corporation
• Danaher Corporation
• Ropoer Technologies
• Phoenix Contact
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Industrial Automation market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
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COVID-19 Impact Analysis on Industrial Automation Market:
Due to a break in operations, end-user sectors where Industrial Automation are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Industrial Automation manufacturers, affecting the development of the Industrial Automation market in 2020. End-user business demand for Industrial Automation has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Industrial Automation Market Report are:
- Which segment had the largest share in the Industrial Automation market in 2021?
- What is the competitive landscape of the Industrial Automation market?
- Which are the key drivers aiding the Industrial Automation market growth?
- Which region has the maximum share in the Industrial Automation market?
- What will be the CAGR of the Industrial Automation market during the forecast period (2022-2027)?
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