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The automation industrial monitors market has experienced robust growth, driven by the rise of smart factories and the increasing need for advanced monitoring solutions. This blog delves into the pivotal role of industrial monitoring in the emergence of smart factories, major market players, customizable technologies, and recent strategic acquisitions.

Market Size and Growth Projections

Current Market Size and Growth Rate:

• In 2023, the market stood at $2.34 billion, growing to $2.53 billion in 2024.
• This represents a compound annual growth rate (CAGR) of 7.9%.

Future Projections:

• By 2028, the market is expected to reach $3.46 billion.
• The projected CAGR for the forecast period is 8.2%.

Role of Industrial Monitoring in Smart Factories

Definition of Smart Factories:

• Smart factories optimize production processes using advanced technologies and data-driven solutions.

Integration of Technologies:

• Technologies like IoT, AI, and automation are integrated to enhance operational efficiency and productivity.

Importance of Industrial Monitors:

• Industrial monitors serve as the interface for monitoring, controlling, and visualizing production processes.
• They provide real-time data insights, facilitate operator interaction, and integrate with other automation systems.

Adoption Statistics:

• A survey by Rockwell Automation Inc. revealed a 50% year-over-year growth in smart factory adoption.
• 74% of manufacturers plan to integrate AI into their operations, while 83% aim to upgrade to smart factories.

 

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Major Players in the Market

Notable Companies:

• Siemens AG, Mitsubishi Electric Corporation, Honeywell International Inc., ABB Group, and Eaton Corporation plc are among the key players.

Focus on Advanced Technologies:

• These companies prioritize advanced technologies to offer cutting-edge industrial monitoring solutions.

Customizable Technologies

Flexible Industrial Monitors:

• Companies are developing monitors with customizable features to meet diverse customer needs.
• These monitors offer flexibility in screen size, resolution, mounting options, and connectivity.

Example: Allen-Bradley ASEM 6300M:

• Rockwell Automation Inc. introduced the ASEM 6300M monitors, allowing machine builders to tailor monitors based on cost, performance, and aesthetic preferences.
• The monitors support the display of multiple information tiles, enhancing operator insights.

Strategic Acquisitions

Recent Acquisition:

• Rockwell Automation Inc. acquired Plex Systems in September 2021 to bolster its software portfolio.
• This acquisition aims to provide cloud-native solutions that improve operational resilience and agility.

Combining Cloud Technology:

• Plex Systems’ cloud-native smart manufacturing platform complements Rockwell’s expertise, enabling enhanced connectivity and sustainability.

Market Segmentation

By Monitor Type:

• Screen Size Below 12, Screen Size Between 12-17, Screen Size Above 17

By Application:

• Process Industries, Discrete Industries

By End User:

• Automotive, Manufacturing, Electronic And Electrical, and Other End-Users

Regional Insights

North America:

• The largest region in the market in 2023, showcasing significant growth opportunities.

Asia-Pacific:

• Expected to be the fastest-growing region during the forecast period, driven by industrialization and digitalization.

In conclusion, industrial monitoring plays a crucial role in the evolution of smart factories, enabling data-driven decision-making and optimizing production processes. With advancements in customizable technologies and strategic acquisitions, market players are poised to meet the growing demand for innovative monitoring solutions in various industries.

 

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The Automation Industrial Monitors Global Market Report 2024  provides an overview of the automation industrial monitors market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automation industrial monitors market forecast analyzes automation industrial monitors market size, automation industrial monitors market share, leading competitor and their market positions.

 

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