South Korea Automation and Industrial Control Market Insights Forecasts to 2032

• The South Korea Automation and Industrial Control Market Size was valued at USD 5.83 Billion in 2022.
• The Market Size is Growing at a CAGR of 9.5% from 2022 to 2032.
• The South Korea Automation and Industrial Control Market Size is expected to reach 14.41 Billion by 2032.

The South Korea Automation and Industrial Control Market Size is expected to reach USD 14.41 Billion by 2032, at a CAGR of 9.5% during the forecast period 2022 to 2032.

Market Overview

South Korea has emerged as a global leader in the field of automation and industrial control systems. The country’s rapid industrialization and commitment to technological advancements have paved the way for a thriving market in this sector. Automation and industrial control systems play a pivotal role in enhancing productivity, efficiency, and safety across various industries, making them integral to South Korea’s economic growth. The automation and industrial control market in South Korea revolves around the implementation of advanced technologies to automate industrial processes, monitor operations, and optimize overall performance. These systems encompass a wide range of technologies, including programmable logic controllers (PLCs), distributed control systems (DCS), human-machine interfaces (HMIs), and robotics.

Report Coverage

This research report categorizes the market for South Korea automation and industrial control market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korean automation and industrial control market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea automation and industrial control market.

Driving Factors

The growing demand for advanced automation and control systems due to technological innovations, such as Industry 4.0 and the Internet of Things (IoT), is propelling the market growth. Additionally, the significant growth in the automotive and electronics industries, which require highly efficient systems, is contributing to the market growth. Furthermore, the implementation of several government initiatives focusing on automation and digitalization in industrial sectors is catalyzing market growth. Besides this, the rising energy costs that are making industries turn toward automation for efficient energy utilization are acting as another growth-inducing factor. Apart from this, the rapid expansion of South Korean companies across the globe is facilitating the demand for automation to ensure standardized, high-quality products. Moreover, the increasing labor costs that are compelling industries to invest in automated systems to maintain profit margins are driving the South Korea automation and industry control market growth during the forecast period.

Restraining Factors

There are several restraints affecting the South Korea automation and control systems market. One major restraint is the high cost of implementing automation systems, which may be prohibitive for some companies. Another challenge is the shortage of skilled workers with expertise in automation and control systems. Additionally, concerns around data privacy and cybersecurity pose a significant threat to the adoption of these systems. The complexity of integrating automation and control systems with legacy systems and the potential for equipment failure or system downtime are also restraining the market growth.

Market Segment

• In 2022, the supervisory control and data acquisition system (SCADA) segment accounted for a major share over the forecast period.

Based on the product, the South Korean automation and industrial control market is segmented into programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition system (SCADA), human-machine interface (HMI), process safety systems, sensors & transmitters, and industrial robotics. Among these, the supervisory control and data acquisition system (SCADA) segment accounted for a major share over the forecast period.  The SCADA control system is used across various industry verticals like aerospace & defense, automotive, chemical, energy & utilities, production, and healthcare, among others due to its ability to gather data in real-time and feed it instantly to the controller systems. Manufacturers' rising need for smart and digitized production processes to increase production efficiency is also expected to drive segmental growth.

• In 2022, the semiconductor & electronics segment accounted fastest growth over the forecast period.

Based on end use, the South Korean automation and industrial control market is segmented into automotive, chemical & petrochemical, semiconductor & electronics, oil & gas, power generation, and water & wastewater. Among these, the semiconductor & electronics segment accounted fastest growth over the forecast period. South Korea's semiconductor industry is a significant economic industry. South Korea is also an important manufacturer of fabless semiconductor companies. Several regional companies are constantly making strategic investments in the construction of innovative manufacturing facilities to increase the region's semiconductor production capabilities. With the increasing government initiatives to establish automated facilities, such investments are expected to significantly drive segmental growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea automation and industrial control market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Yokogawa Electric Corporation
• Rockwell Automation Inc.
• Honeywell International Inc.
• ABB Limited
• Schneider Electric SE
• Hyundai Robotics
• LS Industrial Systems
• Samsung Electronics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In August 2023, Yokogawa Electric Corporation unveiled an upgraded version of the Collaborative Information Server (CI Server), a pivotal component of the OpreX Control and Safety System family. This enhanced iteration boasts robust alarm management, streamlined access to maintenance data, and broader compatibility with international communication standards. The CI server empowers organizations to amalgamate extensive datasets from diverse plant equipment and systems, facilitating the optimized management of production activities spanning the entire enterprise. Additionally, it establishes an environment conducive to remote monitoring and control, enabling swift decision-making from any location.

• In July 2023, Rockwell Automation introduced FactoryTalk Optix, a cutting-edge, cloud-enabled human-machine interface (HMI) platform. This innovative solution empowers users to design, test, and deploy applications directly through a web browser, granting flexibility and accessibility from any location at any time. FactoryTalk Optix also leverages industry-standard cybersecurity protocols, ensuring secure access to machines, controllers, and HMI from remote locations. This feature catalyzes for on-demand remote assistance, installation, programming, updates, troubleshooting, and maintenance of remote systems and applications.

Market Segment

This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented the South Korea automation and industrial control market based on the below-mentioned segments:

South Korea Automation and Industrial Control Market, By Product

• Programmable Logic Controller (PLC)
• Distributed Control System (DCS)
• Supervisory Control and Data Acquisition System (SCADA)
• Human Machine Interface (HMI)
• Process Safety Systems
• Sensors & Transmitters
• Industrial Robotics
• Others

South Korea Automation and Industrial Control Market, By End User

• Automotive
• Chemical & Petrochemical
• Semiconductor & Electronics
• Oil & Gas
• Power Generation
• Water & Wastewater
• Others