4► Industrial automation market size

China’s industrial automation market is close to 300 billion yuan, and is expected to grow in the future. In recent years, with the development of new technologies such as artificial intelligence, 5G, and the Internet of Things, the intelligent level of industrial automation has gradually improved, which is an important driving force for the transformation and upgrading of the manufacturing industry. According to MIR Rui industrial statistics, the market size of China’s industrial automation industry has grown year by year, and the market size has increased from 232.2 billion yuan to 291 billion yuan in 2017-2023.

SPNIS21 Since 2022, the size of the industrial automation market has shifted from rapid growth to stable growth, and the growth rate has slowed down. With the intelligent transformation of the manufacturing industry, new technologies are becoming more mature, the state for the industrial Internet, intelligent manufacturing and other fields to increase support, as well as the demographic dividend fading, rising labor costs and other factors, the industrial automation industry will get more development opportunities, is expected to steadily grow the market size, while improving the growth structure, the proportion of high-end products will gradually increase.

5► Development prospect of industrial automation

(1) The national industrial policy strongly supports the industrial automation industry market opportunities are very broad

China’s industrial automation industry is classified as a high-end manufacturing industry, is the focus of national industrial policy to support and encourage the object. In order to promote the development and innovation of the industrial automation industry, China has introduced a number of policies in recent years, such as the “Fourteenth Five-Year Plan” intelligent manufacturing development Plan, the “Fourteenth Five-Year Plan” and the outline of the 2035 vision goals, etc. These policies have clarified the development direction and goals of the industrial automation industry, provided a clear policy guidance, and provided enterprises with development opportunities. Enterprises are encouraged to increase investment in research and development, promote technological innovation, and improve product quality and competitiveness. Under the guidance of the policy, the industrial automation industry will usher in broader market opportunities and make positive contributions to the transformation and upgrading of China’s manufacturing industry.

(2) The demographic dividend has subsided, giving birth to the demand for machine generation, and promoting the long-term growth of the industrial automation industry

SPNIS21 With the demographic dividend gradually fading, China’s manufacturing industry is facing the problem of difficult and expensive recruitment. According to the statistics of the Ministry of Civil Affairs, as of the end of 2023, the proportion of elderly people over the age of 65 in China is 14.9%, which has entered the medium aging society. At the same time, China’s labor costs continue to rise, the average wage of urban residents continues to increase. Under the aging population trend, the manufacturing industry tends to use more automated production equipment to replace the labor force to resist the adverse impact of rising labor costs, and the demand for industrial automation equipment will continue to grow.

(3) The transformation and upgrading of the manufacturing industry has boosted the penetration rate of industrial automation equipment

In recent years, China is through industrial upgrading to achieve high-quality economic development, especially in the case of increased external environmental risks, to achieve independent and controllable core technology, to ensure the stability of the supply chain has become an important development direction of China’s manufacturing industry, with the rapid growth of China’s high-end manufacturing industry, industrial automation, intelligent level, the demand for industrial automation equipment continues to increase, The long-term development prospects of the industrial automation industry are very broad.