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Modular Automation Market worth $7.0 billion by 2029 – Exclusive Report by MarketsandMarkets™

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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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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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