Global Food Automation Strategic Industry Report 2024: Market to Reach $19.5 Billion by 2030 – Upgrading Food Automation Using Artificial Intelligence
DUBLIN, Feb. 20, 2024 /PRNewswire/ — The “Food Automation – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Food Automation Market to Reach $19.5 Billion by 2030
The global market for Food Automation estimated at US$11.7 Billion in the year 2022, is projected to reach a revised size of US$19.5 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030. Motors & Generators, one of the segments analyzed in the report, is projected to record a 6.9% CAGR and reach US$7.8 Billion by the end of the analysis period. Growth in the Discrete Controllers & Visualization segment is estimated at 7.4% CAGR for the next 8-year period.
The global economic landscape is undergoing significant shifts as the world transitions to an endemic COVID-19 strategy, focusing on a multilateral approach to managing future pandemics.
In this competitive landscape, 118 players worldwide exhibit varying degrees of market presence, ranging from strong to niche. Recent market activity reflects a growing focus on technological innovations and product advancements to meet evolving consumer demands and industry standards.
As the food automation market continues to evolve, influencer insights and technological advancements will play a crucial role in shaping the future of the industry. With automation poised to transform the food and beverage sector, stakeholders must stay abreast of market trends and developments to capitalize on emerging opportunities and navigate competitive pressures effectively.
The U.S. Market is Estimated at $2.6 Billion, While China is Forecast to Grow at 8.7% CAGR
Amid these economic dynamics, the food automation market is gaining momentum, driven by the need for efficiency and safety in the food and beverage sector. Automation, particularly in the beverage sector, is experiencing significant growth, with Asia-Pacific emerging as a key driver of market demand.
The Food Automation market in the U.S. is estimated at US$2.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2030 trailing a CAGR of 8.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 6.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Billion by the year 2030.
MARKET TRENDS & DRIVERS
Rising Food Needs of an Expanding Global Population Turns Focus onto Food AutomationAccelerating Pace of Digital Transformation to Benefit Food AutomationThe Unstoppable Rise of Robotics Provides the Cornerstone for Growth in the MarketTechnological Advancements in the Food Robotic Technology MarketUpgrading Food Automation Using Artificial IntelligenceArtificial Intelligence for Product Sorting and Food ProcessingArtificial Intelligence for Food Waste ManagementArtificial Intelligence in LogisticsAI-Powered New Product DevelopmentArtificial Intelligence for Food SafetyIncreasing Demand for Processed Foods Presents Opportunities for Food AutomationUse of Computer Vision and Hyperspectral Imaging Witnesses a SurgeGrowing Integration of Internet of Things Streamlining Food Processing ProcessPopularity of Robotics and Automated Production Lines Witness a Robust IncreaseAdvent of 3D Food Printing Technologies Enhance Product QualityUse of Automated Technologies for Post-Processing Handling and Packaging Gains MomentumRising Investments in Industry 4.0 to Spur Opportunities for Food AutomationRising Adoption of Automation in Fruit and Vegetable PackagingIncreased Uptake of ERP Facilitates Adoption5G Opens Up Exciting Playbook of Robotic ApplicationsIncreasing Incidence of Foodborne Diseases to Drive Market DemandGrowing Automation in Restaurants Propels Market ExpansionAI Robots in Agriculture: Developments in AI, Machine Vision & Machine Learning Remain Critical to Commercialization & GrowthGlobal Labor Shortages to Spur Market Demand for Food AutomationContracting Agricultural Labor Drives Demand for Robots and Autonomous Farm EquipmentRising Automation in the Fast Food Sector Spurs Market Growth
FOCUS ON SELECT PLAYERS (Total 118 Featured)
ABB Ltd.Emerson Electric CompanyFortive CorporationGEA Group AGMitsubishi Electric CorporationRexnord CorporationRockwell Automation, Inc.Schneider Electric SASiemens AGYaskawa Electric CorporationYokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/j0lhtk
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
You may also like
INTRODUCING THE CASHMERE COLLECTION, THE FIRST-EVER FRAGRANCE COLLECTION FROM DONNA KARAN NEW YORK
Embracing the Layers of a Woman NEW YORK, Feb. 13, 2024 /PRNewswire/ — THE CONCEPT INTRODUCING
Fastmarkets launches iron phosphate price to bring transparency to the LFP battery market
LONDON, Dec. 15, 2023 /PRNewswire/ — Fastmarkets, the industry-leading cross-commodity price-r
Gear Up for The Big Game and Score Discounts on 7-Eleven Pizza and Wings
7-Eleven, Speedway and Stripes customers can score deals on pizza and wings all weekend long in-stor
