Automation market size in automotive industry to grow at a CAGR of 3.87% from 2022 to 2027; The demand for enhanced visibility and flexibility in the manufacturing process to boost the market growth

NEW YORK, Aug. 9, 2023 /PRNewswire/ — The automation market in automotive industry size is estimated to grow at a CAGR of 3.87% between 2022 and 2027 and the size of the market is forecast to increase by USD 2,075.44 million, according to Technavio. The emergence of smart manufacturing is the primary trend in the market. Smart manufacturing is enabling industrial advancements with advanced computing, analytics, low-cost sensors, and new levels of connectivity created by the Internet. In addition, to enable smart manufacturing, industrial machines, and robots must be equipped with IoT-integrated microprocessors, microcontrollers, sensors, and switches that can optimize production efficiency. export. To achieve this, IIoT plays an important role in integrating all these systems and transmitting information between control systems. As a result, innovations in sensors and automation solutions lead to raised productivity in the automotive industry. Hence, such factors will boost the growth of the market during the forecast period.  View new Free Sample Report within minutes!

Automation market in Automotive Industry 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automation in automotive industry market report covers the following areas:

Automation market in Automotive Industry 2023-2027 : Segmentation
Automation market in Automotive Industry is segmented as below:

• Technology

• End-user

• Geography

• The industrial sensors segment will account for a major share of the market’s growth during the forecast period. Industrial sensors detect and measure physical parameters, such as temperature, humidity, pressure, flow, speed, vibration, and position, and convert them into electrical signals that are sent to control systems such as PLCs. Industrial sensors play an important role in automotive manufacturing by ensuring consistent product quality.  Another key factor behind the growth of the market is the emergence of smart sensors. Industry 4.0 adoption involves the use of multiple sensors in manufacturing plants owing to the need for real-time data from remote locations. Hence, these factors will fuel the growth of the segment during the forecast period.

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Automation market in Automotive Industry – Market Dynamics

Key Driver – 

The demand for enhanced visibility and flexibility in the manufacturing process is one of the key factors driving the automation market growth in the automotive industry.  Several automation solutions allow automakers to integrate long supply chains into production chains, including DCS, MES, and SCADA. Integrating IIoT with automation solutions in the manufacturing process improves and optimizes factory efficiency, and makes manual labor more efficient. Furthermore, such integration also increases plant visibility and flexibility using advanced analytics and predictive modeling techniques. Hence, such factors are encouraging automation market demand in the automotive industry during the forecast period.

 Significant Challenge – 

Security challenges of industrial control systems affect the automation market growth in the automotive industry.  Most of the control systems operating in Europe and the US were established in the pre-Internet era. These industrial control systems are not designed to connect or validate received commands, making them vulnerable to security threats. Replacing these old systems is not a good option as it increases costs for the business. Furthermore, one of the common failures of security solutions seen in Operational Technology (OT) infrastructure is their inability to protect legacy systems like SCADA. The open architecture of the SCADA system not only allows for more integration of hardware and software but also increases the risk of security threats. While technical advances are expected to improve productivity, increasing vulnerability to security threats is expected to hinder the adoption of automation solutions in the automotive industry during the forecast period.

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• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Automation market in Automotive Industry 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Applied Materials Inc., Aurotek Corp., Auto Control Systems, DENSO Corp., Emerson Electric Co., FANUC Bulgaria EOOD, Festo SE and Co. KG, General Electric Co., Kawasaki Heavy Industries Ltd., MIDEA Group, Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yaskawa Electric Corp., and Yokogawa Electric Corp. are some of the major market participants. Although the Demand for enhanced visibility and flexibility in manufacturing will offer immense growth opportunities, Security challenges of industrial control systems will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Companies offering – 

• ABB Ltd: The company offers automation in automative industry such as press automation, body in white, paint, and final assembly.

• DENSO Corp.: The company offers automation in automative industry such as insulated gate bipolar transistors.

• Emerson Electric Co.: The company offers automation in automative industry such as fuel dispensing, components, vehicle systems, fabrication, and assembly.

Automation market in Automotive Industry 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will assist the automation market in automotive industry during the next five years

• Estimation of the automation market in automotive industry market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the automation market in automotive industry

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of automation market companies in automotive industry

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Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Technology

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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