Unleashing Potential: Machine Automation Controller Market Set to Cross $41.5 Billion by 2024


Posted October 9, 2023 by avinashgogawale14

The Machine Automation Controller Market is expected to grow from USD 33.7 billion in 2019 to USD 41.5 billion by 2024, at a CAGR of 4.3%.
 
The Machine Automation Controller Market has experienced rapid expansion, with a projected value of USD 33.7 billion in 2019. According to projections, the market will continue to grow and be worth an amazing USD 41.5 billion by 2024, reflecting a 4.3% compound annual growth rate (CAGR) for this projected period. This expansion reflects the rising need for effective automation and control systems across numerous industries. The machine automation controller market is ideally positioned to play a significant role in influencing the future of industrial automation and control systems as businesses seek increased efficiency and production and technology continues to advance.

The key group of automation control devices known as "machine automation controllers" includes industrial PCs, distributed control systems, and programmable logic controllers (PLC). These controllers are designed to withstand the demanding and harsh conditions found in industrial settings. They are mostly used to automate specific activities, such as batch processing or flow control. Additionally, the operation of a single machine or even an entire manufacturing line can be tightly controlled by machine automation controllers. Due to their durability and adaptability, they play a crucial role in improving accuracy and efficiency in a variety of industrial procedures.

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Critical components like a central processing unit (CPU), a power supply module, and an input/output (I/O) module are the main components of a machine automation controller. These parts work together to create the controller's core, allowing for effective automation and control in industrial settings. A deliberate focus on lowering operational costs across sectors has greatly fueled the growth of the machine automation controller market. The adoption of automation solutions is also being fueled by the growing emphasis on increasing productivity within the process industry. Another important factor is the growing integration of robots in the manufacturing industry, which emphasises the demand for sophisticated and effective automation controllers to streamline business operations and raise productivity levels.

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During the projected period, the Distributed Control System (DCS) market is anticipated to expand significantly with a higher Compound Annual Growth Rate (CAGR). Designed for effective plant control and operation, a DCS is a specialised automation control platform. Through a high-speed communication network, it is intimately connected to several local controllers that are strategically positioned all throughout a facility or a control area. Large industrial facilities, especially those that need to monitor and manage a large number of continuous control loops, are a good fit for DCS systems. As a complete automation system, DCS efficiently manages and integrates a plant's entire control structure, streamlining operations and raising productivity across the industrial spectrum.

The market for controllers with an IP20 rating is anticipated to expand rapidly between 2019 and 2024, with a higher Compound Annual Growth Rate (CAGR). Programmable Logic Controllers (PLCs), a common type of Machine Automation Controllers widely used in automation systems, are primarily represented by IP20-rated controllers. With an IP20 classification, a controller can provide a level of protection against dust and solid particles by shielding electrical circuits from things larger than 12 mm in size. It's crucial to remember that controllers with an IP20 rating offer no protection against liquids, making them ideal for controlled situations with little to no liquid exposure. This specification is essential for ensuring that automation controllers are chosen and used appropriately in a variety of industrial contexts.

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During the anticipated period, the machine automation controller market is expected to grow at the greatest compound annual growth rate (CAGR) in the oil and gas sector. This industry is one of the most capital-intensive ones, requiring significant expenditures for drilling, exploration, refining, and transportation. By 2050, the world's population is expected to exceed 10 billion, which will cause a major increase in the demand for safe, inexpensive energy. In addition, the oil and gas industry struggles with a lack of experienced workers and unpredictable oil prices on the worldwide market, which forces businesses to prioritise automation in their manufacturing processes. In a competitive environment, it is crucial to increase production while lowering operating expenses, which is the goal of this strategic shift towards automation. Oil and gas firms can efficiently restructure their operations and achieve higher levels of production by modernising and swapping out antiquated internal processes with cutting-edge automated solutions. It is anticipated that the Machine Automation Controller Market will experience significant expansion as a result of the ongoing trend of modernization in the oil and gas sector.

The Machine Automation Controller market is expected to develop at the fastest rate between 2019 and 2024 in the Asia-Pacific (APAC) region. APAC includes a number of significant economies that are rapidly growing, most notably China and India. These nations have enormous domestic demand for a diverse range of goods and services, creating tremendous room for commercial expansion. As a result, many sectors, including those in the automotive, chemical, food and beverage, semiconductor, and electronics, have set up manufacturing facilities in the area to meet this growing need. However, the region's businesses have been encouraged to adopt automation technology as a practical solution to these problems and to improve operational efficiency by the rising labour costs, rapidly changing industrial processes, and rising operational costs.

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Last Updated October 9, 2023