Moreover, amid pandemic the purchasing manager index (PMI) indicated a decline in the manufacturing industry. Moreover, due demand for Augmented Reality (AR), Digital Twin, and Industrial IoT is further boosting the market growth.

With the advent of 5G wireless technology the demand for automation solutions across industries has increased dramatically. In its report titled вЂњ Industrial Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware (Sensors PLC HMI Servo Motor Drive Laser Markers Safety Light Curtain Robots), and Software), By Industry (Discrete Industry (Automotive Electronics Heavy Manufacturing Packaging), and Process Industry (Oil & Gas Chemicals Pulp & Paper Mining and Metals Health Care), and Regional Forecast, 2021-2028вЂќ.Fortune Business Insights mentions that the market stood at USD 179.74 billion in 2020. 25, 2021 (GLOBE NEWSWIRE) - The global industrial automation market size is expected to gain momentum by reaching USD 355.44 billion by 2028 while exhibiting a CAGR of 9.2% between 2021 to 2028. (Wisconsin,U.S.), Schneider Electric SE (Rueil-Malmaison, France), Siemens AG (Munich, Germany), Yokogawa Electric Corporation (North Carolina,U.S.), Mitsubishi Electric Corporation (Tokyo, Japan), Omron Corporation (Kyoto, Japan), Rockwell Automation Inc. (Missouri, U.S.), General Electric Company (Massachusetts, U.S.), Honeywell International Inc. (ZГјrich, Switzerland), Emerson Electric Co. Companies Profiled in the Market: ABB Ltd.

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