The increasing penetration of advanced technology, such as Machine Learning (ML), the Internet of Things (IoT), and Artificial Intelligence (AI), has helped accelerate the growth of the industrial automation market. Two companies, Honeywell International Inc. and Tech Mahindra Limited, have partnered with “Factories of the Future” to boost their digital transformation, while Siemens has collaborated with SAP SE to offer industry 4.0-enabled business processes to enterprises. Additionally, the growing update of the industrial automation Internet of Things (IIoT) and the upcoming engineering 5G technology are contributing to market growth. Industrial automation uses control systems, such as robots, computers, and information technologies, to handle various machinery in an industry to replace human intervention, and offers high product quality, reliability, and production rate while reducing production and design costs.
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