The Modular Automation Market is projected to grow from USD 4.8 billion in 2024 to USD 7.0 billion in 2029; it is expected to grow at a CAGR of 7.9% during the forecasted period. The Modular Automation Market is growing worldwide due to factors like the rising demand for flexible and scalable production processes, the necessity for quick adaptation to shifting market conditions, the focus on enhancing operational efficiency and reducing downtime, and the incorporation of advanced technologies. Furthermore, the emphasis on sustainability and the capability to reuse and repurpose existing modules significantly contribute to the market's expansion.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Billion)
Segments
By Type, Mobility, Component, End-user Industry and Region
Regions covered
North America, Europe, Asia Pacific, RoW
"Modular Type Packages holds the largest market share by type during the forecasted period."
Modular packages are poised to dominate market share by type during the forecast period. These packages offer flexibility and scalability, allowing businesses to customize automation solutions to specific needs and processes. By modularizing their systems, organizations can efficiently integrate and upgrade components such as software modules, hardware modules, and communication interfaces. This approach enhances operational efficiency and accelerates time-to-market for new products and services. As industries prioritize agility and cost-effectiveness, modular packages emerge as the preferred choice, driving growth and adoption across various sectors worldwide.
"Pharmaceutical holds the largest market share by End-user Industries during the forecasted period."
During the forecast period, the pharmaceutical industry is expected to hold the largest market share among end-use industries in modular automation. This sector relies heavily on stringent quality control, precision manufacturing processes, and high levels of automation to ensure product safety and regulatory compliance. Modular automation solutions offer pharmaceutical companies the ability to achieve these objectives by providing flexibility in production setups, scalability to meet varying demands, and integration of advanced technologies like robotics and IoT for enhanced operational efficiency. As pharmaceutical manufacturers seek to optimize production, reduce time-to-market for new drugs, and comply with evolving regulatory standards, the adoption of modular automation is set to expand significantly, solidifying its leadership position in the market.
The study contains various industry experts' insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier 1 -25%, Tier 2 -40%, and Tier 3 - 35%
By Designation: C-level Executives - 30%, Directors - 28%, and Others -42%
By Region: North America - 37%, Europe -15%, Asia Pacific - 43%, ROW - 5%
The key players operating in the Modular Automation Market are ABB (Switzerland), Festo Inc. (Germany), Yokogawa Electric Corporation (Japan), Siemens (Germany), and HIMA (Germany).
Research Coverage:
This market research report thoroughly analyses the Modular Automation Market, categorized by type, mobility, component, end-user industry, and region. Key insights encompass identifying primary drivers and challenges influencing market growth, providing a reliable market forecast until 2029, and presenting a detailed competitive landscape analysis with key players strategically positioned in the Modular automation ecosystem.
The research covers various topics, including market size, growth trends, and industry forecasts. It delves into technology advancements, regulatory frameworks, and emerging market segments. The research often includes competitive analysis, identifying key players and their market share, and exploring factors driving or restraining market growth. This meticulous examination aims to furnish valuable insights for stakeholders to leverage opportunities and navigate potential challenges in the Modular Automation Market.
Key Benefits of Buying the Report
Analysis of key drivers (Demand for flexibility in contemporary manufacturing sectors, Cost savings through scalability and reusability, Technological advancements driving innovation), restraints (Initial implementation challenges in integration, Concerns over compatibility between components, Security risks in connected modular systems, and Resistance to change among workforce), opportunities (Expansion into emerging industrial markets, Growing demand for customized solutions, Integration opportunities within Industry 4.0, Service and maintenance market growth), and challenges (Skills gap in modular automation expertise, Regulatory compliance complexities, Supply chain disruptions affecting production, and Addressing sustainability concerns in product development.)
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Modular Automation Market
Market Development: Comprehensive information about lucrative markets - the report analyses the Modular Automation Market across varied regions.
Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the Modular Automation Market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players in the modular automation market, such as ABB (Switzerland), Festo Inc. (Germany), Yokogawa Electric Corporation (Japan), Siemens (Germany), and HIMA (Germany).
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 RECESSION IMPACT ON MODULAR AUTOMATION MARKET
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 PRIMARY DATA
2.1.1.1 Key data from primary sources
2.1.1.2 List of key primary interview participants
2.1.1.3 Breakdown of primaries
2.1.2 SECONDARY DATA
2.1.2.1 List of major secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key industry insights
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RISK ANALYSIS
2.6 RECESSION IMPACT
2.7 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MODULAR AUTOMATION MARKET
4.2 MODULAR AUTOMATION MARKET IN NORTH AMERICA, BY COUNTRY AND APPLICATION
4.3 MODULAR AUTOMATION MARKET IN ASIA PACIFIC, BY APPLICATION
4.4 MODULAR AUTOMATION MARKET, BY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising demand for flexibility in contemporary manufacturing
5.2.1.2 Increasing focus of businesses on cost savings through scalability and reusability
5.2.1.3 Ongoing innovations due to technological advancements
5.2.2 RESTRAINTS
5.2.2.1 Requirement for high initial investment, specialized training, and interdepartmental coordination
5.2.2.2 Compatibility issues
5.2.2.3 Cybersecurity concerns
5.2.3 OPPORTUNITIES
5.2.3.1 Rapid industrialization in developing nations
5.2.3.2 Growing demand for customized solutions
5.2.3.3 Integration of modular automation systems within Industry 4.0 frameworks
5.2.3.4 Constant demand for support and maintenance services by end users
5.2.4 CHALLENGES
5.2.4.1 Shortage of expertise in modular automation skills
5.2.4.2 Complexities associated with regulatory framework
5.2.4.3 Supply chain disruptions
5.2.4.4 Addressing sustainability concerns in product development