CHICAGO, June 26, 2024 /PRNewswire/ -- The Modular
Automation Market is projected to grow from USD 4.8 billion in 2024 to USD 7.0 billion by 2029, at a CAGR of 7.9% from
2024 to 2029 according to a new report by
MarketsandMarkets™. The market's growth is propelled by
increasing demand for flexible manufacturing processes, cost
efficiency, and the ability to quickly adapt to changing production
needs. Technological advances and the push for Industry 4.0
integration are also driving adoption.
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Browse in-depth TOC on "Modular Automation
Market"
170 – Tables
60 – Figures
262 – Pages
Modular Automation Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 4.8 billion
|
Estimated Value by
2029
|
$ 7.0 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.9%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Type, Mobility,
Component, End-user Industry and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Addressing
sustainability concerns in product development
|
Key Market
Opportunities
|
Integration
opportunities within Industry 4.0
|
Key Market
Drivers
|
Technological
advancements driving innovation
|
Modular Distributed Control Systems by Mobility to grow at
the highest CAGR.
Modular Distributed Control Systems (DCS) by mobility are
projected to grow at the highest CAGR during the forecast period.
These systems offer advanced capabilities for managing and
controlling complex industrial processes with enhanced flexibility
and scalability. By decentralizing control functions and
distributing them across various modules, modular DCS can be
tailored to specific application needs, improving system
reliability and efficiency.
Robot Controllers for Hardware, by type to hold the highest
market share during the forecast period.
Robot controllers are essential for the precise operation and
coordination of robotic systems, enabling tasks ranging from simple
automation to complex, multi-axis movements. They provide critical
functionalities such as real-time processing, motion control, and
seamless integration with other automation components. efficiency.
The growing adoption of robotics across various industries such as
manufacturing, healthcare, and logistics drives the demand for
advanced robot controllers. As companies strive for higher
efficiency, productivity, and flexibility in their operations, the
market for robot controllers is set to expand significantly,
securing its position as the leading hardware type in modular
automation.
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Modular automation in North
America holds the second highest market.
During the forecast period, North
America is expected to hold the second-highest market share
in the modular automation industry. This region benefits from a
robust industrial base, advanced technological infrastructure, and
significant investments in research and development. Industries
such as automotive, pharmaceuticals, chemicals, food and beverage,
and electronics are increasingly adopting modular automation to
enhance efficiency, reduce operational costs, and maintain
competitive advantages.
Key Players
The Modular Automation Companies includes significant Tier I and
II players like ABB (Switzerland),
Festo Inc. (Germany), Yokogawa
Electric Corporation (Japan),
Siemens (Germany), HIMA
(Germany), and others. These
players have a strong market presence in various North American,
European, Asia Pacific, and RoW
countries.
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