Description
The global electric automation market was valued at 39.9 billion in 2021. It is expected to reach USD 64.2 billion by 2028 with a CAGR of 7.3% during the forecast period of 2022 2028. Technological advancements such as robotics, artificial intelligence, machine learning, and the Internet of Things enhance productivity at an individual and industrial level. Electrical automation connects electronic systems with automation to digitally control the process. As per the report United Nations Industrial Development Organization (UNIDO), the manufacturing sector has reduced its global capacity as an employer from 22% in 1991 to under 13% in 2016, and it is further foreseen to be deducted. Leveraging over this stride of automation in manufacturing industries positively affecting production and assembly line, where it covers each element of industrial operations, the electrical automation market is poised for exponential growth.
