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Smart Automation Market Size and Forecast to 2028
Market overview:
The Smart Automation Market was valued at $44.5 billion in 2022 and is estimated to reach $90.6 billion by 2028, with a CAGR of 11% from 2023 to 2028.
Market Drivers and Restraints:
Smart automation trends are being driven by the global expansion of wireless technologies across numerous industries. Automation offers real-time control and knowledge while reducing the need for human interaction. It is a special combination of mechanical, electrical, electronic, and software components that is necessary to automate any necessary operation. Even the trends towards energy conservation and optimal energy use are paving the way for smart automation across the regions as the demand for green energy continues to rise.
Automation aims to reduce human work while still maintaining a safe, healthy, and comfortable environment for its occupants while using less energy. The need to improve operating efficiencies, the rising cost of energy and maintenance, as well as the comfort of the occupants, are the reasons propelling the worldwide smart automation market in the energy and environmental applications industry. The primary selling point of the sector is the distinction between wireless technology and the centralization of remote controls.
The expansion of the worldwide smart automation market for energy and environmental applications is anticipated to be constrained by low awareness of smart automation technologies and costly initial expenditures. The global smart automation market for energy and environmental applications is expected to benefit greatly from a rise in the usage of automated services.
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https://www.marketdataforecast.com/market-reports/smart-automation-market
The report is segmented as follows:
The Smart Automation Market is segmented by End-User; the Market is segmented by Application:
By End-User (Energy Conservation Support, Advanced Distribution Management Systems, EMS/SCADA)
By Application (Spill Management, Waste Management, Water And Wastewater Management, Air Quality Detection, Climate Reporting, Prediction Of River Floods, Atmospheric Pollution, Sea Waves Motion)
Regional Segmentation:
Due to its emphasis on energy saving and construction of important infrastructure, Europe is one of the leading markets for smart automation. European industries strive to reduce their energy use by 20%, which is a driving factor for this local market.
A prospective market for the smart automation industry is thought to exist in the Asia Pacific region due to rising investments from manufacturers and the widespread use of this technology in developing nations like China, India, and others.
The primary regions in the global market for smart automation in the energy and environmental applications are the Americas and Europe. Thanks to improving economic conditions, this market is expanding quickly in emerging economies like Brazil, China, and India.
Impact of COVID-19 pandemic on the market:
The COVID-19 epidemic has benefited the market for smart automation technology since it has raised home standards that facilitate working from home. Additionally, quarantining, visitor management, installing connected equipment like smart cameras, and security are all ensured by smart automation.
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