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AI Driving Transformation in Automotive Automation Market, Set to Grow by USD 2.45 Billion (2024-2028), Boosted by Demand for Improved Manufacturing Flexibility- Technavio

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NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global automation market in automotive industry size is estimated to grow by USD 2.45 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.36%  during the forecast period. Demand for enhanced visibility and flexibility in manufacturing is driving market growth, with a trend towards emergence of smart manufacturing. However, security challenges of industrial control systems  poses a challenge. Key market players include ABB Ltd., Applied Materials Inc., Aurotek Corp. Inc., 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 Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yaskawa Electric Corp., and Yokogawa Electric Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Automation Market In Automotive Industry Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.36%

Market growth 2024-2028

USD 2454 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.11

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 41%

Key countries

China, Japan, US, Germany, and India

Key companies profiled

ABB Ltd., Applied Materials Inc., Aurotek Corp. Inc., 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 Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yaskawa Electric Corp., and Yokogawa Electric Corp.

Market Driver

The automotive industry is experiencing significant growth in automation, electrification, data integration, human-machine interaction, and connectivity. To facilitate smart manufacturing, industrial machines and robots are being equipped with IoT-integrated microprocessors, microcontrollers, sensors, and switches. In the automotive production process, sensors are used extensively on the manufacturing, assembly line, and warehousing equipment. These sensors provide real-time data to DCS, MES, and PLC systems for remote monitoring and predictive maintenance. IIoT plays a crucial role in integrating these systems and transferring information. Innovations in sensors and automation solutions are increasing productivity in the automotive industry, driving market growth during the forecast period. 

The automotive industry is experiencing a growth in automation trends, with programmable automation and motion control at the forefront. Industrial automation is being driven by advanced automation/control software, panel mount solutions like industrial PCs and web panels, and control systems. Turbocharging is being enhanced with 5G wireless technology and digitalization. Augmented reality, digital twin technology, and industrial IoT are revolutionizing production, with advanced analytics, edge computing, and cloud computing enabling real-time data processing. Sensors, including precision photoelectric, laser, inductive, servo motors, drives (AC and DC), and semiconductors, are essential components. Trade wars and electronics shortages pose challenges, but AI and machine learning are driving innovation. Product launch and development are being streamlined with management software, cobots, and smart manufacturing. 3D printing and micro electromechanical systems are also transforming the industry. 

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Market Challenges

Legacy industrial control systems, predominantly used in Europe and the US automotive industries, pose significant security challenges due to their pre-Internet era design. These systems, which communicate point-to-point, lack the capability to authenticate commands and secure data, making them susceptible to threats. Replacing these systems is cost-prohibitive, and modernizing them requires integrating new IT and OT technologies, as well as addressing the emergence of IoT and cloud computing. A common vulnerability in OT infrastructure is the inability to protect legacy systems, such as SCADA, which have open architectures, increasing the risk of security breaches. Despite the potential productivity gains from automation solutions, the increasing security threats may hinder their adoption in the automotive industry during the forecast period.In the automotive industry, automation is a key trend shaping the future of manufacturing. Technologies like digital twin technology, advanced analytics, edge computing, and cloud computing are revolutionizing production processes. Sensors, including photoelectric, laser, inductive, servo motors, drives (AC and DC), and precision sensors, are essential components of this automation. Trade wars and the rise of micro electromechanical systems, 3D printing, smart manufacturing, semiconductors, electronics, artificial intelligence, and machine learning are driving innovation. Industrial robots, management software, cobots, and cloud-based solutions are crucial for product launch and development. Challenges include ensuring control and integration of these advanced technologies to optimize efficiency and quality.

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Segment Overview 

This automation market in automotive industry report extensively covers market segmentation by  

Technology 1.1 Industrial sensors1.2 PLC1.3 MES1.4 SCADA1.5 DCSEnd-user 2.1 Vehicle manufacturers2.2 Component manufacturersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Industrial sensors-  Industrial sensors play a crucial role in the automotive industry by measuring physical parameters, such as temperature, humidity, pressure, flow, speed, vibration, and position, converting them into electrical signals for control systems like PLC. They ensure product quality consistency in various applications, including painting operations, testing engines, robotic arms, and conveyor belts. In painting, sensors measure paint thickness. Spray painting systems use sensors for air and liquid ratio measurement. Industrial robots, now widely adopted for faster production and efficiency, are equipped with sensors to work efficiently with pre-defined instructions. Advancements in sensors, hardware, and software have made robots more intelligent and autonomous. Smart sensors are driving the growth of the industrial sensors market in the automotive industry, especially in the context of Industry 4.0 and smart wearables like helmets, eye devices, and hand-worn devices. Innovations in industrial wireless sensor networks (IWSN) are expected to further expand the market, with each node featuring a sensor, ADC, microcontroller, data receiver, and energy source, creating a dispersed network collecting and organizing data at a central location, driving IIoT in the automotive industry.

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Research Analysis

The automotive industry is embracing automation to enhance manufacturing processes, improve product quality, and increase efficiency. Programmable automation, industrial motion control, and advanced control systems are key technologies driving this transformation. Automation/Control Software, Industrial PCs, Web Panels, and Industrial Monitors are essential components of modern automation systems. Turbocharging and 5G wireless technology are revolutionizing the industry with real-time data transfer and remote monitoring capabilities. Augmented reality, digital twin, digitalization, industrial IoT, precision sensors, micro electromechanical systems, 3D printing, and smart manufacturing are shaping the future of automotive production. Semiconductor and electronics companies are supplying the necessary components for automation, including artificial intelligence and machine learning chips. These technologies enable advanced functions like predictive maintenance, quality control, and optimization of production lines. Overall, automation is a critical enabler for the digital transformation of the automotive industry.

Market Research Overview

The automotive industry is embracing automation to enhance manufacturing processes, improve product quality, and increase efficiency. Programmable automation, industrial motion control, and advanced automation/control software are key technologies driving this transformation. Industrial PCs, web panels, and industrial monitors are essential components of modern control systems. Turbocharging and 5G wireless technology are being integrated with automation systems to optimize performance and connectivity. Augmented reality, digital twin technology, and digitalization are revolutionizing design and production, enabling real-time monitoring and predictive maintenance. Industrial IoT, sensors, and edge computing are facilitating data collection and analysis, while cloud computing provides scalability and flexibility. Semiconductors and electronics play a crucial role in the development of automation systems, with artificial intelligence and machine learning enabling advanced analytics and smart manufacturing. Product launch and development are streamlined with management software, while cobots and industrial robots enhance production capabilities. 3D printing and smart manufacturing further boost innovation and efficiency. Despite trade wars, the automation market in the automotive industry continues to grow, with continuous product innovation and development.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyIndustrial SensorsPLCMESSCADADCSEnd-userVehicle ManufacturersComponent ManufacturersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Procare Solutions Celebrates 2024 Milestones with Key Achievements in Growth and Innovation

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DENVER, Dec. 30, 2024 /PRNewswire/ — Procare Solutions, a leader in child care management software, achieved several noteworthy milestones in our mission to help ensure the care, safety and education of children. These include many new product enhancements, partnerships and the addition of professional development training.

This year’s highlights include:

Updates to our digital curriculum that include earning approvals in several states ensuring compliance and ease of use for early childhood educators nationwideMobile app enhancements including new photo reactions and improved messaging to enhance staff communication, as well as new advanced registration features with custom forms and lead management to streamline administrative tasksIntegrations with our partners to help child care centers grow enrollment and improve their educational offerings, ensuring better outcomes for children and familiesThe acquisition of Bertelsen Education expanding Procare to include continuing education training for early childhood education and Head Start child care providers

“Our belief that every child deserves the best possible start is at the heart of everything we do,” said Procare Solutions CEO JoAnn Kintzel. “Each of these developments reflects our commitment to delivering robust, user-friendly solutions that support child care providers in achieving their goals.”

Supporting Early Childhood Education (ECE) Curriculum

Helping centers improve the education of young learners has always been, and continues to be, a top priority of Procare Solutions.

Our 2024 Child Care Management Software Industry Trends Report found that about 30% of survey respondents said each teacher spends between three and five hours a week doing lesson planning and a similar percentage noted their centers create their own curriculum.

Procare Early Learning powered by Learning Beyond Paper, an all-digital curriculum designed for ECE that is embedded into Procare, was updated and gained approval in several states. Aligning with state-approved ECE curriculum is essential for securing grant funding and providing high-quality education.

In the newest version, the hands-on, play-based activities got a boost by intentionally integrating them across multiple developmental domains and incrementally increasing their complexity throughout the year. And it also includes similar activities across various age groups to better support mixed-age classrooms.

Learning supports were enhanced to assist diverse learners, including guided lesson support videos for teachers. These videos show the step-by-step implementation of each activity focusing on elevating quality with teacher-child interactions and serve as a virtual mentor and coach for teachers.

Making ECE Professional Development Simpler

The Procare Solutions 2024 trends report also found that nearly one-third of respondents need more professional development for teachers and staff.

Through the acquisition of Bertelsen Education, a leader in professional development training, ECE providers using Procare gained access to professional development and continuing education courses.

By adding Bertelsen Education’s training courses, which are accredited in all 50 states, we continue to build on our comprehensive suite of solutions designed to support child care centers in delivering excellent early childhood education.

Improving Learning in Child Care Classrooms While Helping Grow Enrollment

ECE teachers in child care centers using Procare also can benefit from educational videos from MarcoPolo Learning, the award-winning global developer of educational products and instructional resources. In 2024, MarcoPolo Learning’s comprehensive library of developmentally appropriate short videos, educator guides and activities became available in Procare, making it easier for educators to incorporate the resources into their lesson plans.

And a new partnership with Lakeshore Learning, a leading developer and retailer of educational materials, supports child care providers by offering them access to high-quality educational materials at discounted rates.

Procare customers have access to a dedicated Lakeshore Learning eStore with hundreds of curated educational materials and resources specifically tailored for early childhood programs with a discount and free shipping.

Also in 2024, a new integration between Procare Solutions and IntelliKid Systems, a leading provider of child care enrollment and marketing software, offered a suite of marketing tools to connect time-strapped early childhood education centers with families searching for high-quality child care.

With Procare and IntelliKid Systems, the entire enrollment lifecycle is handled with ease, from inquiry to registration and everything in between.

This partnership adds marketing automation to the suite of robust enrollment tools already offered in Procare that include waitlist management, electronic documents and the Lead Insights dashboard that shows how effective a center is at converting prospective customers.

Using Technology to Help Child Care Leaders and Families

The Procare child care mobile app has long been a staple for communication between child care center staff and families. And in 2024, it added some fun too – families can now add an emoji reaction to photos posted to their child’s daily activity feed and staff users can view the reactions to see how their work is being recognized! The app got its own round of applause, finishing the year with a 4.9 out of 5-star rating in the Apple store.

Messaging features for child care center staff got a boost – staff can send and receive messages via Procare or text messages. The option to send text alerts allows administrators to communicate with staff members without a Procare account. These messages are sent as a text message to a staff member’s mobile device.

And Procare’s all-new registration and lead management solution allows centers to create multiple registration forms with unique fields and requirements, giving more freedom to customize registration for different purposes. On top of that, leads can now be reviewed ahead of time, with opportunities to identify and merge any potential duplicates. 

Recognition for Our Work

Procare Solutions CEO JoAnn Kintzel was named to the list of Calibre One’s 2024 ranking of the top 25 women leaders in U.S. private equity-backed software, the second year in a row she achieved this award. She also received the 2024 ASU+GSV Power of Women Award.

Tammie Hogan, our chief customer officer, made the Top 25 Women Chief Customer Officers of 2024, Women We Admire.

And we are proud to once again be honored with a Built In 2024 Best Places to Work Award. This annual awards program includes companies of all sizes, from startups to those in the enterprise, and honors both remote-first employers as well as companies in large tech markets across the U.S.

Procare Solutions was featured in the Software Advice FrontRunners report for Daycare Software category this year. The recognition underscores the value that Procare provides to users. Additional product awards we received include:

GetApp Category Leaders 2024Software Advice Front Runners 2024Capterra Short List for Daycare Software 2024SourceForge Fall Leader 2024G2 Fall Leader 2024

About Procare Solutions:

For over 30 years, Procare Solutions has been dedicated to empowering early childhood educators by providing products and services that enable them to focus on the care, safety and education of children.

We recognize the responsibility that comes with nurturing and educating children, which is why our child care management solutions are designed to automate business processes, help ensure safety and compliance, communicate with families and provide educational resources and training to help teachers and children thrive.

Over 40,000 satisfied customers have chosen Procare Solutions as their trusted partner in providing exceptional care for young minds.

For more information, visit ProcareSolutions.com

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IBN Technologies Steps Up to Support Small Businesses Following Bench Accounting’s Sudden Shutdown

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MIAMI, Dec. 30, 2024 /PRNewswire/ — The unexpected closure of Bench Accounting has left thousands of small businesses scrambling to find reliable financial and accounting outsourcing services. This sudden disruption has created a significant gap, leaving many businesses without the external support they once relied on. Announced under the leadership of Bench’s CEO, the closure has forced countless organizations to seek dependable alternatives to manage their financial operations effectively. 

In response to this void, IBN Technologies LLC, a global leader in finance and accounting outsourcing, is stepping up to provide tools, expertise, and support small businesses need. With their proven track record and tailored solutions, IBN Technologies ensures that businesses can maintain financial stability and focus on growth during this challenging time. 

IBN technologies are a Bench Accounting Alternative 

With over 25 years of experience delivering cutting-edge finance and accounting solutions, IBN Technologies is uniquely positioned to provide comprehensive support for businesses impacted by this industry disruption. The company’s scalable and technology-driven services are designed to empower small businesses, enabling them to overcome challenges and achieve long-term stability. 

“At IBN Technologies, we empathize with the concerns of small businesses following the recent closure of Bench Accounting,” stated Ajay Mehta, CEO of IBN Technologies. “Our utmost priority is to stand beside these businesses as a reliable partner, offering them the necessary financial expertise to overcome their challenges and forge ahead with confidence.” 

Take control of your finances today! Book a free 30-minute consultation with our experts – https://www.ibntech.com/free-consultation/ ?pr=prnewswire 

Comprehensive Solutions Customized to Small Businesses 

IBN Technologies offers a comprehensive suite of finance and accounting services customized to meet the unique needs of small businesses, including: 

Bookkeeping and Accounting: Seamless bookkeeping services to maintain accurate, compliant financial records effortlessly.Payroll Management: Precision payroll processing customized to the specific needs of your workforce.Tax Preparation and Filing: Expert assistance to ensure tax compliance while maximizing savings.Virtual CFO Services: Strategic financial planning and insights without the cost of a full-time CFO.Financial Reporting and Analysis: Real-time insights into financial performance to support smarter, informed decisions. 

Rebuilding Confidence in Financial Management 

Rebuilding confidence in financial management begins with IBN Technologies. They provide expertise and tools that are needed to streamline business processes, ensure accuracy, and take full control of your finances. Trust IBN Technologies customized solutions to bring stability and drive growth for your business. 

“Our mission is to simplify financial management for small businesses while delivering unmatched value,” added by Ajay Mehta. “During this challenging time of Bench Accounting crunch base, we want to extend our unwavering support to all affected businesses. At IBN Technologies, we are committed to being your guiding light throughout this journey, providing the assistance you need at every step.” 

About IBN Technologies 

With 25 years of industry experience, IBN Technologies has established itself as an outsourcing specialist serving clients across the United States, United Kingdom, Middle East, and India. The company’s solutions adhere to rigorous international standards, including AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standard. Their comprehensive service portfolio encompasses IT, KPO, and BPO outsourcing services, specializing in finance and accounting solutions for CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries.   

For businesses seeking to optimize their financial operations through AP automation, IBN Technologies provides expert guidance and support throughout the digital transformation journey, ensuring seamless integration and maximum operational efficiency.   

Contact Details:     
Pradip    
sales@ibntech.com      
+1 – 844 – 644 – 8440      

USA: IBN Technologies LLC     
66 West Flagler Street Suite 900 Miami, FL 33130      

India: Global Delivery Centre    
IBN Technologies Limited    
Kohinoor House, 2nd floor,    
691/A/1B, Plot no. 7,    
Bibwewadi Road, Pune-411037    

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Coro Medical Prepares to Roll Out Project AED365 Nationwide Donation Initiative

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Project AED365 Aims to Empower Communities, Youth Organizations, First Responders, and more by Providing Lifesaving Automated External Defibrillators (AEDs) Alongside Comprehensive Emergency Training and Equipment to Address Sudden Cardiac Arrest

FRANKLIN, Tenn., Dec. 30, 2024 /PRNewswire/ — Coro Medical, the leading provider of life-saving medical devices, today announced it is preparing to roll out Project AED365—a nationwide effort to donate 365 automated external defibrillators (AEDs) over the next year.

“At Coro Medical, we believe every second counts in a cardiac emergency. Project AED365 reflects our commitment to making life-saving technology accessible to communities across the nation,” said Travis Harris, CEO, Coro Medical. “By partnering with industry leaders and local organizations, we aim to ensure that no community is left unprepared when it matters most.”

Project AED365 is a national initiative dedicated to enhancing public safety, with Coro Medical committing to donate one AED each day for the next 365 days to selected organizations, communities, and individuals. Coro Medical is partnering with ZOLL Medical to provide ZOLL AED 3s for Project AED365. This collaboration ensures the availability of high-quality defibrillators to support the initiative’s mission of equipping communities with life-saving devices.

“ZOLL is proud to participate in the life-saving Project AED365, to help make our AEDs accessible to more youth programs and communities in need. During an emergency, ZOLL AEDs are designed so anyone can follow the step-by-step instructions to administer high-quality CPR and deliver a shock to a victim, with real-time feedback that helps deliver the best outcome. Getting more AEDs in more public places where emergencies could happen and increasing the public’s understanding that these devices are designed to help them, help others in an emergency, is critical to protecting the heartbeat of our communities. Providing the resources, education and equipping more of our communities with AEDs, empowering unexpected, ordinary people with the confidence to act is a life-saving legacy that we are humbled and proud to be a part of.” Said Troy Pflugner, Group Vice President, ZOLL Medical.

In addition, Coro Medical is collaborating with HSI to donate one free Remote Skill Verification (RSV) training with every AED. RSV is a revolutionary new way to get full certification training in CPR, AED, and First Aid from a live, authorized HSI Instructor. Furthermore, LifeVac, the creators of the innovative, non-powered, non-invasive airway clearance device, will also be donating one airway clearance device with every donated AED. This initiative ensures recipients have access to life-saving devices and emergency medical training.

“The HSI team is excited to collaborate with CoroMed and ZOLL Medical on Project AED365. It’s well known that effective bystander CPR and defibrillation with an AED immediately after sudden cardiac arrest can more than double a victim’s chance of survival, said Anthony Corwin, HSI General Manager, Emergency Care. “This is one of the reasons HSI is donating Remote Skills Verification (RSV) training with every donated AED. RSV is fully remote CPR, AED, and First Aid certification training with a live, authorized HSI Instructor. At HSI, we believe having AEDs and quality training should be part of every organization’s emergency plan.”

“LifeVac is honored to partner with Coro Medical to make donations to the community that can save a life. It’s organizations such as these that change the world,” Arthur Lih, CEO & Inventor, LifeVac.

According to the Sudden Cardiac Arrest Foundation, sudden cardiac arrest is a leading cause of death among adults over the age of 40 in the United States, and studies have shown that survival rates can be as high as 70% if an AED is used within 2 minutes of collapse, highlighting the urgent need for accessible AEDs in public spaces.

Communities, organizations, and individuals are encouraged to visit Project AED365 to submit AED donation requests. This initiative underscores Coro Medical’s commitment to advancing public safety and equipping communities with essential tools and knowledge to save lives, solidifying their role as a trusted leader in health and safety.

For more information about Project AED365 or to apply for an AED donation, please visit https://www.aed.us/project-aed365.

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