According to the UnivDatos Market Insights, The widespread adoption of Industry 4.0, growing industrialization in emerging markets, expansion of industrial automation in emerging markets, and increasing labor shortages drive the Industrial Automation market. As per their “Industrial Automation Market” report, the global market was valued at USD 224 Billion in 2023, growing at a CAGR of about 9% during the forecast period from 2024 - 2032 to reach USD billion by 2032. The industrial automation remains a key factor shaping the existing and future manufacturing industry. As the pressure to optimize costs and become more flexible in a presented competitive environment has risen, industries have been adopting automation at a record rate. Digital disruptors – AI, the IoT, and robotics are no longer options for companies, but business imperatives with which organizations need to familiarize themselves. In particular, this article explores the current dynamics and current trends that define and shape the Industrial Automation market in 2024.
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The Emergence of Automated Systems Expanded by Artificial Intelligence
The integration of AI in automation systems is one of the key factors that play a major role in transforming the industrial automation market. AI has revolutionized industrial factories and plants by ‘teaching’ machines from data how to work more efficiently without further human intervention. Robotic systems enhance predictive maintenance solutions, which provide manufacturers with an estimate of the time it will take to fix a problem before it gets worse and affects production. It also invades the various production procedures aimed at improving efficiency, cutting costs, and increasing quality checking.
AI and industrial automation combination is most advanced in the automotive industries, production of drugs, and electronics manufacturing where accuracy and speed are paramount. The main concepts associated with the use of AI in automation are represented by Siemens, ABB, and Rockwell Automation viewing operations as smarter and more efficient.
On April 22, 2024, The Motion Technology Company Schaeffler and the technology company Siemens signed a memorandum of understanding (MoU) at the Hannover Messe. Both companies will advance the use of artificial intelligence in the industrial sector and therefore make a significant joint contribution to shaping the digital production of the future. At the Hannover Messe, Schaeffler and Siemens are once again showing the successful collaboration with the “Siemens Industrial Copilot”, an industrial automation solution using AI.
The roles of IoT and Connectivity in changing the manufacturing world
The industrial automation market is also greatly influenced by the Internet of Things (IoT). IoT means machines, devices, and sensors are interconnected to share data in real-time to gain efficiency and enhance decision-making. In Smart factories, devices connected to IoT devices are used in measuring factors such as temperature, pressure, production rates, and equipment functionality hence providing automated tools that can be utilized by manufacturers for real-time adjustments.
By 2024, the adoption of IoT in industrial automation is anticipated to extend to additional organizations to incorporate innovative gadgets in the workflow of the organization to press on the outlay of operational costs. The IoT systems reported actual-time data on inefficiencies, manufacturing metrics, and other conditions to assist producers in making fast decisions. This connectivity is especially beneficial for businesses belonging to sectors such as food and beverages since its field has to be controlled very closely for the optimization of its products.
Automated controlled collaborative robots (cobots) are also increasing in use in the workplace.
Collaborative robots, or cobots, are revolutionizing industrial relations between humans and machines. In contrast to typical industrial manipulators purposely programmed to operate autonomously at a safe distance from people for security purposes, cobots can collaborate with people. Cobots on the other hand integrate sensor and AI technologies that enable it to have the ability to work hand in hand with the human.
But for 2024, the usage of cobots is predicted to grow, particularly among SMEs that are likely to lack the capital outlay for real automation. Cobots are considerably cheaper and more adaptable than conventional robots, which means these are enticing to discrete production companies interested in automating particular processes while incurring minimal expenditure. Cobots have become common in industries such as Electronics Assembly, Packaging, and automotive part manufacturing because they increase productivity yet retain the input of human labor.
On Aug 27, 2024, FANUC, a global industrial automation leader, unveiled its latest lineup of robots, cobots, factory automation offerings and machining solutions, while introducing two new controller technologies at the International Manufacturing Technology Show (IMTS) 2024.
In February 2024, OMRON Automation introduced TM S Series Collaborative Robots in its robotics portfolio in India. This latest addition to OMRON’s innovative lineup combines faster joints and expanded safety features, making it an ideal solution to improve the efficiency of factories in workspaces shared with people.
On October 18, 2023 – Schneider Electric, the leader in the digital transformation of energy management and automation, launched the Lexium Cobot, a collaborative machine featuring next-generation automation and advanced industrial robotics technology. The Lexium Cobot is designed to work closely alongside humans, performing uniquely gentle and diligent movements using dynamic torque and speed monitoring.
In February 2021 - ABB expanded its collaborative robot (cobot) portfolio with the new GoFa™ and SWIFTI™ cobot families, offering higher payloads and speeds, to complement YuMi® and Single Arm YuMi® in ABB’s cobot line-up.
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Edge Computing Enhancing Automation Efficiency
Another technological trend that has raised a lot of storms in the industrial automation industry is edge computing. The concept of edge computing implies data analysis closer to the place or moment it is produced to reduce the time response. In industrial settings, this means that the decisions that automation systems make are done faster and also with more accuracy thereby increasing productivity and reducing time lost to mechanical breakdowns.
As the Internet of Things continues to be adopted in industrial systems, there has been a growing need to process data in real time. Digital twin helps to implement the concept of edge computing where data can be analyzed locally in the manufacturing system in contrast to remote data centers helping to achieve quicker time on adjustments and better controlling of processes. This trend is more gainer in industries where even small differences in decision-making timings can affect production processes like the automobile and chemical sectors.
5G Networks Driving Industrial Automation
5G technology is expected to unlock dramatic changes in industrial automation when it is implemented. As the 5G networks offer very high speed and very low latencies, Automation between machines, sensors and control systems of automation systems will turn out to be much smoother. For 2024 various upgrades of upgraded frequency 5G are also expected in industrial settings that will also increase the effectiveness of automated systems.
This means that with the new 5G technology visiting more devices to the manufacturer’s automation system will not cause a strain on the system. This is especially the case in large organizations that work with large volumes of data as speed in decision-making can make a massive difference. Our research predicts that 5G is to be most beneficial in such branches as aerospace, automotive, pharmaceutical, and other industries which are based on certain levels of automation including such processes as production.
6. Sustainable and Energy Efficient Automation
Environmental concerns are now trending globally in all industries and automation is a vital tool in achieving these metrics. Waste management may be controlled efficiently through key performance indicators while energy usage is controlled through automated systems. By 2024, sustainability initiatives will continue as automation solutions that can reduce overall energy consumed in operations are still a major investment area.
Today most organisations are implementing green automation technologies like efficient motors and sensors to enhance environmentally sensitive automation solutions. Inter alia, automation also makes it possible for a firm to adopt efficient resource utilization Whereby it reduces the amount of materials that are used in the making of products and also achieves efficient use of the resources it uses in the production. Since governments and consumers are conscious of sustainability, the need for energy-efficient automation solutions will increase in the future.
Conclusion
The market of industrial automation is characterized by a technological dynamic and increasing demand for productivity, accuracy, and ecological systems. AI and automation systems, the IoT, human-robot collaboration, edges, and 5G networks are the trends that can potentially help the company to increase efficiency, minimize costs, and improve product performance. Thus, as the industry evolves and more companies integrate automation into the manufacturing, processes the configurations of manufacturing will change again and open new ways for improvements in association with smarter, more efficient, and sustainable production. Organizations that implement these futuristic technologies will stand to benefit the growing competitive world economy.
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