According to the new research report titled "Industrial Automation Market Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 233.94 billion by 2028, registering a CAGR of 7.6% from 2021 to 2028.

Automation in the food & beverages industry refers to strategic integrations of technologies across various production processes, such as inspection, packaging, and storage. Over the years, food & beverages companies have optimized different production processes through the uptake of automated systems, such as delta robots, automated guided vehicles, and robotic arms, to be in line with various food safety & quality standards laid down by regulatory bodies and reduce overall labor cost across production sites.

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Vision-guided robots are experiencing a rise in demand across the industrial automation market due to their efficiency in completing repetitive tasks, such as bottle handling, bin picking, and tray loading. Numerous benefits, including enhanced traceability, improved efficiency, and high flexibility, have been driving the need for automation in the food & beverage industry over the years. These factors have encouraged food & beverage producers to invest heavily in automated technology integration across their production facilities. For instance, a US-based snack brand, Utz Brands Inc., announced its plans to integrate automated capabilities across its production plants to reduce its overall operational cost in 2021. Similarly, Hormel Foods is also planning to incorporate automation across its production facilities in 2021. Other food & beverage brands rapidly adopting automated technology include Tyson Foods and ITC. Thus, the rise in investment in automation across the food & beverage industry is fueling the growth of the industrial automation market.

The increasing penetration of advanced technology, such as Machine Learning (ML), the Internet of Things (IoT), and Artificial Intelligence (AI), has helped accelerate the growth of the industrial automation market. Furthermore, the rising product development and strategic initiatives from key market players for industrial automation applications lead to market growth. For instance, in 2020, Honeywell International Inc. and Tech Mahindra Limited partnered with "Factories of the Future" to accelerate the digital transformation journey by empowering manufacturers. Similarly, Siemens collaborated with SAP SE to offer industry 4.0-enabled business processes to enterprises. Further, the growing update of the industrial internet of things (IIoT) and the upcoming engineering 5G technology are a few factors, contributing to market growth during the forecast period.

ABB Ltd, Emerson Electric, OMRON, Rockwell, and FANUC are the prominent players in the industrial automation market. The listing of five key players based on a common criterion such as revenue is not feasible. Hence, we have derived this listing of “Key Five Players” in the Global Industrial Automation Market” by giving weightage to following key parameters: overall revenue, segmental revenue, brand image & industry experience, current product portfolio, innovative and advanced technology integration/material enhancements, customer base, geographical reach, new product launches, partnerships, mergers & acquisitions, and other market related activities. In addition to these players, there are several other important players operating in the Industrial Automation ecosystems which were studies analyzed during the course of this market research study, such as B&R Industrial Automation GmbH; HITACHI LTD., Industrial, Automation (M) SDN BHD., Koyo Electronics Industries Co., LTD., and Mitsubishi Electric Corporation.

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