Discrete Automation Global Market to Show Incredible Growth and Forecast by 2033 | Hitachi Ltd., Siemens AG, Cisco Systems Inc., GE Grid Solutions, ANDRITZ GROUP

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Discrete Automation Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.53 Bn In 2028 At A CAGR Of 6% :

The discrete automation market size has grown strongly in recent years. It will grow from $5.57 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growing complexity of manufacturing processes, need for operational efficiency, regulatory compliance requirements, increasing labor costs, demand for quality and precision.

The discrete automation market size is expected to see strong growth in the next few years. It will grow to $7.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to adoption of industry 4.0 technologies, focus on flexible and agile manufacturing, emergence of edge computing solutions, emphasis on sustainability and energy efficiency, expansion of internet of things (IoT) applications. Major trends in the forecast period include rise of digital twins in manufacturing, increased use of cloud-based automation platforms, expansion of predictive maintenance solutions, development of autonomous manufacturing systems, surge in demand for cybersecurity solutions in automation.

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Discrete Automation Market Major Segments
The discrete automation market covered in this report is segmented -
1) By Type: Product Lifecycle Management (PLM), Manufacturing Execution System (MES), Programmable Logic Controllers (PLC), Distributed Control System (DCS), Other Types
2) By Component: Solutions, Services
3) By Application: Packaging, Automotive, Textile, Aerospace And Defense, Food Processing, Other Applications

Key Driver - Efficient Manufacturing Fuels Discrete Automation Market Growth

The increasing demand for efficient manufacturing is expected to propel the growth of the discrete automation market going forward. Efficient manufacturing refers to the ability to produce goods with the lowest possible total cost while minimizing waste of materials, time, and energy and increasing the effectiveness and quality of the work done. Rising labor costs, fluctuating raw material prices, and escalating energy expenses compel manufacturers to seek methods for process optimization and cost reduction, thereby driving the pursuit of efficient manufacturing practices. Discrete automation technologies, including robotics, PLCs (programmable logic controllers), and conveyor systems, streamline production processes by enabling automated assembly lines to operate continuously at consistent speeds, thus enhancing productivity and reducing cycle times. For instance, in September 2023, according to a publication by the International Federation of Robotics (IFR), a Germany-based non-profit organization, industrial robot installations reached a new record level of 553,052 units in 2022, marking a 5% increase from the previous year's high of 526,144 units installed in 2021. Therefore, the increasing demand for efficient manufacturing is driving the growth of the discrete automation market.

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Prominent Trend - Technological Advancements Driving A Competitive Edge In The Discrete Automation Market

Major companies operating in the discrete automation market are increasing their focus on developing advanced solutions, such as life cycle assessment (LCA) automation, to gain a competitive edge in the market. LCA automation refers to a technology that offers a comprehensive solution for discrete manufacturing, integrating advanced automation technologies to streamline production processes, optimize efficiency, and enhance overall productivity. For instance, in March 2023, Sphera Solutions Inc., a US-based software company, launched the latest advancement in LCA automation, revolutionizing product sustainability practices in discrete manufacturing. With Sphera's new solution, conducting enterprise-wide LCA analyses will transition from months to mere minutes, drastically improving efficiency. By automatically importing primary product data from the Bill of Materials (BOM) and swiftly calculating emissions, this iteration empowers discrete manufacturers to conduct reliable LCAs at scale across their entire product range within condensed timeframes. The ultimate aim of LCA Automation is to enable businesses, particularly those dealing with intricate products, to systematically reduce greenhouse gas (GHG) emissions throughout the production process, aligning with sustainability objectives.

Discrete Automation Market Players
Major companies operating in the discrete automation market are Hitachi Ltd., Siemens AG, Cisco Systems Inc., Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., Invensys plc (Schneider Electric Co.), Toshiba Corporation, Eaton Corporation plc, Texas Instruments Incorporated, Emerson Electric Co., GE Grid Solutions, ANDRITZ GROUP, Rockwell Automation Inc., Omron Corporation, Valmet Oyj, Azbil Corporation, Ingeteam, Chongqing Chuanyi Automation Co. Ltd., HollySys Automation Technologies, Nanjing Sciyon Automation Group Co. Ltd., Beijing consen Technology Co. Ltd., Shanghai Automation Instrumentation Co. Ltd., Yokogawa Electric Corporation, ZAT Company, SUPCON Technology Co. Ltd., Shanghai Xin Hua Control Technology (Group) Co. Ltd., Nanjing Delto Technology

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the discrete automation market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the discrete automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Discrete Automation Market Report Structure
3. Discrete Automation Market Trends And Strategies
4. Discrete Automation Market - Macro Economic Scenario
5. Discrete Automation Market Size And Growth
…..
27. Discrete Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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