The industrial automation market expects to gain a considerable growth-share across the forecast period of 2020-2030. The rising influence of technology across various industries for rapidly completing different processes will prove to be a prominent growth-contributing factor for the industrial automation market. The large-scale utilization of connected technologies such as the Internet-of-Things will serve as a growth booster for the industrial automation market.
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Industrial automation involves the process of using robots and computers for completing numerous processes in industries. The growing influence of such automation systems will bode well for the growth of the industrial automation market. The escalating implementation of augmented reality (AR) and artificial intelligence (AI) technologies will also bring tremendous growth opportunities for the industrial automation market.
The overwhelming utilization of industrial automation across end-users such as electronics, automotive, packaging, aerospace, defense, mining, metals, healthcare, pharmaceuticals, petroleum, chemicals, oil and gas, and others will help in increasing the growth rate of the industrial automation market.
COVID-19 Pandemic to Accelerate the Growth Prospects of the Industrial Automation Market
The novel coronavirus outbreak has changed the world completely. The functioning of industries has undergone a drastic change. Mechanical work is slowly being replaced by automation technologies. The uncertainty about the lockdown restrictions and the high-transmission levels of the virus have urged many industrialists to switch to automation. The use of automation technologies in certain processes helps in avoiding frequent human contact and containing the spread of COVID-19. Therefore, this factor will help in gaining profitable growth for the industrial automation market.
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Emergence of Industry 4.0 to Boost the Growth across the Industrial Automation Market
The growing popularity of Industry 4.0 is prognosticated to bring great growth prospects for the industrial automation market. Industry 4.0 has transformed the working mechanism of all industries to a considerable extent. Therefore, the rising demand for Industrial 4.0 is directly proportional to the growth of the industrial automation market.