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Global automation market - revenue by segment 2016/2020

Global automation market size in 2016 and 2020, by segment (in billion U.S. dollars)

by I. Wagner, last edited Aug 9, 2019
Global automation market - revenue by segment 2016/2020 In 2020, the automation industry is estimated to generate around 209 billion U.S. dollars worldwide with the largest segments belonging to factory and process automation. These segments are expected to reach 80 and 50 billion U.S. dollars respectively. The global automation market is expected to grow rather considerably, particularly in 3D printing, artificial intelligence, and drones, each of which are predicted to double in global revenues over the four years to 2020. Automation is an important factor to most modern industries, and industrial software development is vital to fields in tech, engineering, and scientific research. Industrial software alone is expected to be worth 40 billion U.S. dollars in 2020.
Automated growth

By expediting processes and minimizing human error, the advent of automation and connected devices allows industries to innovate and grow in size fairly rapidly. Without automated processes, stores and warehouses would find it difficult to fill their shelves with i.e. food, medicine, and computers. Whereas the industrial age regarded automation as feats of mechanical engineering, the automation of today is driven by advancements in robotics and software engineering. Currently, industrial workers, researchers, and even bureaucrats make use of machine learning and artificial intelligence to streamline their work.

Automation is not just a technology to increase production and feed economic growth, but it also acts as a service to domestic and personal living. Previously, many products that utilized artificial intelligence and robotics simply were not affordable to the masses. However, as the sectors develop, the technology becomes better and cheaper. Self-driving cars are a stand out example of an automated product that is expected to become widely used once the technology is perfected. In the U.S. alone, annual autonomous vehicle sales are expected reach 4.5 million units by 2035.
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Global automation market size in 2016 and 2020, by segment (in billion U.S. dollars)

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