Throughout 2022, Digi-Key Electronics experienced accelerated growth in the automation and control market, with reservations and shipments of automation and control products reaching new heights.
The electronic components market may be heading for a correction as demand begins to decline, but the automation and control market still looks bulletproof. Throughout 2022, Digi-Key Electronics experienced accelerated growth in the automation and control market as reservations and shipments of automation and control products reached new heights.
As supply chain challenges continue to make it difficult to meet customer demands, particularly for advanced products, there appears to be light at the end of the tunnel as lead times stabilize and in some cases , begin to soften. Shipments of robotic solutions continue to increase, especially in COBOTs and AMRs in America and Europe, as does the demand for SCADA. Despite the possible onset of a global recession, Digi-Key expects to see further acceleration in automation growth over the next year and a half as advanced products become easier to obtain.
According to the December 2021 Global Automation and Controls Market Report by Allied Market Research, the automation and controls market was valued at nearly $330 billion in 2020. Factors such as restrictions of Covid, intellectual property theft and a general disinterest in manufacturing employment continued to fuel demand. , and manufacturers looking to relocate operations to Eastern Europe and the Americas will need to continue their automation integrations to compete in low-cost labor markets. The total available automation and control market in 2023 is expected to reach $381.75 billion and is projected to reach $845 billion in 2030, creating an overall compound annual growth rate of 10.7% across all aspects of automation. automation and control.
The boom in e-commerce distribution has also affected the growth of the automation and control market. Just as we’ve seen generational shifts in other industries in the way customers consume content and purchase products, we’re seeing a similar shift in the buying habits of automation customers. Although print catalogs and magazines are still of particular interest to older engineers, it must be taken into account that today’s generation of busy engineers may not want to be interrupted by a field rep bringing donuts to their store. every Tuesday looking for an order. More and more customers are looking to use e-commerce options to purchase products rather than buying through traditional brick-and-mortar distribution. When an e-commerce distributor can provide customers with direct access to accurate information and ease of purchase from a wide range of products delivered in a timely manner, you have the ingredients for a great B2C relationship.
The automation and control market is booming and continues to break down barriers that were once considered impossible. Artificial intelligence, predictive maintenance, machine-to-machine communication and edge computing used to be science fiction, but today they are a reality. The automation and control market will continue to grow and evolve in exciting directions, and Digi-Key is ready to help drive technology innovation through 2023 and beyond with detailed technical resources and robust search functionality to help customers find the exact products they need. their designs to the next level.
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