The global automation components market is expected to see rapid growth in the next few years, reaching $262.35 billion in 2028 at a compound annual growth rate of 12.4%. This growth can be attributed to sustainability initiatives, digitalization trends, emergence of Industry 4.0, adoption of artificial intelligence, and supply chain resilience. Major trends include edge computing integration, growth of collaborative robots, adoption of predictive maintenance solutions, and expansion of industrial internet of things applications. Top companies in the market include Siemens AG, General Electric Company, Mitsubishi Electric Corporation, and Schneider Electric SE. The report offers detailed market analysis, competitor analysis, and opportunities for growth.
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