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Top 15 Growth Opportunities in Industrial Automation, 2024

  • Report

  • 28 Pages
  • February 2024
  • Region: Global
  • Frost & Sullivan
  • ID: 5950022

Harnessing Tech Innovations to Achieve Resilient Businesses, Adaptive Strategies, and Sustainable Growth Amidst Dynamic Economic and Complex Geopolitical Landscapes

In 2024, the industrial automation and manufacturing sectors will experience a transformational growth journey propelled by state-of-the-art technological advancements and changing dynamics shaped by a complex economic landscape, geopolitical tensions, supply chain disruptions, labor market and workforce issues, stringent regulatory requirements, and the need for sustainability and decarbonization.

The integration of artificial intelligence (AI) is revolutionizing the manufacturing industry, enabling data-driven decision-making and unprecedented agility. Generative AI is playing a pivotal role in enhancing machine understanding, enabling quality inspection, predictive maintenance, supply chain analytics, and co-piloting. This technological prowess is completely redefining the industry and creating demand for a skilled workforce capable of leveraging AI for manufacturing transformation.

Strategic alliances are proving instrumental in fostering industry growth and addressing pressing labor challenges. Cross-industry partnerships are crafting tailored solutions for predictive maintenance, AI-driven robotics, and supply chain management.

The industry is witnessing a shift toward remote and autonomous operations, with manufacturers transitioning from traditional server-based architectures to dynamic virtualized environments and serverless platforms. This evolution is crucial to advancing industrial automation infrastructure and enabling businesses to thrive amidst these changes.

The advent and consolidation of the industrial metaverse is another milestone, merging the digital and physical realms to foster innovation and collaboration. This convergence leverages data analytics, digital twins, AI, 5G, and IoT, creating virtual representations for real-time monitoring and immersive training. This enhances asset efficiency and product quality while reducing costs and increasing safety.

This Top 15 Growth Opportunities for Industrial Automation and Manufacturing, 2024 research provides insights and strategies to harness these opportunities for robust growth and innovation in the industrial automation and manufacturing sectors.

Key Issues Addressed

A few calls to action derived from the research:

  • Is your team prepared to leverage industrial AI for a manufacturing transformation?
  • In the pursuit of a robust growth strategy, is your business actively exploring and forming strategic alliances?
  • Is your team implementing data management best practices, such as adopting cloud-based industrial DataOps platforms?
  • As manufacturers embrace virtualized environments and serverless platforms, what steps are your leaders taking to drive growth amidst this industrial evolution?

Table of Contents

Top Growth Opportunities for 2024

  • Strategic Imperatives
  • The Top 15 Growth Opportunities in Industrial Automation, 2024
  • Growth Opportunity 1: Industrial AI
  • Growth Opportunity 2: Industrial DataOps
  • Growth Opportunity 3: Industrial Edge
  • Growth Opportunity 4: Industrial Robotics
  • Growth Opportunity 5: Additive Manufacturing
  • Growth Opportunity 6: Industrial Cybersecurity
  • Growth Opportunity 7: Industrial 5G
  • Growth Opportunity 8: Augmented Connected Worker
  • Growth Opportunity 9: Machine Health
  • Growth Opportunity 10: Smart Industrial Sensors
  • Growth Opportunity 11: Industrial SaaS
  • Growth Opportunity 12: Industrial Metaverse
  • Growth Opportunity 13: Software-defined Automation
  • Growth Opportunity 14: Industrial DevOps
  • Growth Opportunity 15: Serverless Computing
  • Next Steps
  • Legal Disclaimer