Automation Evolution: A Deep Dive into the Top 10 Companies Reshaping Industrial Automation

The Industrial Automation Market is projected to reach $368.05 billion by 2031, at a CAGR of 9.1% from 2024 to 2031. The market growth is driven by government initiatives promoting industrial development, increasing investments in industrial automation, rising demand for energy-efficient systems, and increasing need for supply chain optimization. High CAPEX requirements and concerns about workforce displacement restrain the market’s growth. Moreover, the increasing demand for sustainable solutions is expected to create market growth opportunities.