South Korea Industrial Automation And Control Systems Market Size & Outlook
South Korea industrial automation and control systems market, 2018-2030 (US$M)
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South Korea industrial automation and control systems market highlights
- The South Korea industrial automation and control systems market generated a revenue of USD 8,609.6 million in 2023 and is expected to reach USD 19,282.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 12.2% from 2024 to 2030.
- In terms of segment, dcs was the largest revenue generating control system in 2023.
- SCADA is the most lucrative control system segment registering the fastest growth during the forecast period.
Industrial automation and control systems market data book summary
| Market revenue in 2023 | USD 8,609.6 million |
| Market revenue in 2030 | USD 19,282.7 million |
| Growth rate | 12.2% (CAGR from 2023 to 2030) |
| Largest segment | Dcs |
| Fastest growing segment | SCADA |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | DCS, PLC, SCADA |
| Key market players worldwide | ABB Ltd, Emerson Electric Co, Honeywell International Inc, Kawasaki Heavy Industries Ltd, Mitsubishi Electric Corp, OMRON Corp, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, Yokogawa Electric Corp. |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.6% of the global industrial automation and control systems market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China industrial automation and control systems market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 65,939.6 million by 2030.
Dcs was the largest segment with a revenue share of 34.29% in 2023. Horizon Databook has segmented the South Korea industrial automation and control systems market based on dcs, plc, scada covering the revenue growth of each sub-segment from 2018 to 2030.
The industrial automation and control systems market in South Korea recorded a market share of 11.1% in 2022. The South Korean Government injected USD 414.4 million for research and development projects undertaken by SME companies to support upgrades in manufacturing technologies.
Further, the government extended its assistance for training of up to 40,000 workforce to be able to operate in automated industrial environment. Therefore, such government initiatives are expected to create market demand and drive industry growth in the forecasted period.
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Industrial Automation And Control Systems Market Scope
Industrial Automation And Control Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea industrial automation and control systems market size, by control system, 2018-2030 (US$M)
South Korea Industrial Automation And Control Systems Market Outlook Share, 2023 & 2030 (US$M)
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