Industrial Automation Market to Reach $407 Billion by 2032 on Digitalization and Sustainability Trends
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Global machinery and industrial automation market size worth $407.4 billion by 2032, growing at a CAGR of 8.2% from 2023-2032.
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Key growth drivers include technological advancements, cost efficiency, globalization, labor shortages, Industry 4.0 integration, sustainability demands, supply chain resilience, and customization.
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COVID-19 led to supply chain disruptions but also accelerated digital transformation and remote monitoring adoption.
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North America sees surge in collaborative robots; Europe focuses on sustainable manufacturing; Asia-Pacific drives smart technology integration; LAMEA shifts towards modernization.
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Top players include Siemens AG, ABB Ltd., Rockwell Automation Inc., Mitsubishi Electric, General Electric, Schneider Electric, Emerson Electric, and others.