Report: Automation hardware market to be valued at $64 billion by 2033

Sept. 6, 2023
The current value of the market is $38.7 billion, which translates to a compound annual growth rate (CAGR) of 5.1%.

According to an analysis conducted by ABI Research, the automation hardware market is expected to grow to a value of $64 billion by 2033. The current value of the market is $38.7 billion, which translates to a compound annual growth rate (CAGR) of 5.1%. According to the report, “Industrial Automation Hardware Innovation: PLCs, IPCs, and HMIs,” the programmable logic controller (PLC) market, the largest automation hardware segment, is expected to have sales of $30 billion by 2033. Researchers also concluded that large PLCs with over 1,024 inputs/outputs have the largest growth potential with revenues predicted to be $5.6 billion by 2033.

In a recent quote, James Prestwood, Industrial and Manufacturing Industry Analyst at ABI Research, said, “PLC market growth is driven by new manufacturing requirements, such as for smart connected products, EVs, and battery manufacturing. New production techniques and a “digital-first” mindset are also encouraging new automation solutions like software-based PLCs.” He added, “As manufacturers continue to adopt automation solutions with complex architectures, which increasingly demand powerful PLC assets, large PLC controllers are the ideal solution, rather than using multiple smaller PLCs to achieve similar results.”

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