The industrial automation sector has seen significant job growth in the past decade. A report by MarketsandMarkets, estimates the global industrial automation market to reach $296 billion by 2023. From 2018 to 2023 the CAGR saw a growth of 6.6%. The adoption of Industry 4.0 and Internet of Things (IoT) technologies, rising labor costs, and a growing need for improved efficiency and productivity have been contributing factors.
This growth in the industrial automation market has also led to an increase in job opportunities in the sector. The International Federation of Robotics (IFR) found industrial automation jobs increased by 2.6 million worldwide between 2010 and 2016. The study also predicted continued job growth in the sector reaching 2.8 million by 2019.
Manufacturing roles aren’t the only jobs increasing in the industrial automation sector. Additionally, industrial automation technologies have led to a growing need for skilled professionals in other areas. These include engineering, programming, and data analysis, according to a report by the Bureau of Labor Statistics. Employment of industrial engineers, for example, projected 8% growth from 2016 to 2026, faster than the average for all occupations.
In addition, the industrial automation sector is also a significant contributor to the growth of the economy. The IFR estimates that every robot installed in the manufacturing industry creates an average of 1.6 jobs. Furthermore, the increasing adoption of industrial automation technologies is also expected to lead to new jobs. These areas can include the installation, maintenance, and repair of automation systems.
In conclusion, the industrial automation sector has seen significant job growth in the past decade, driven by the increasing adoption of Industry 4.0 and IoT technologies, rising labor costs, and a growing need for improved efficiency and productivity. Experts continue to expect this growth in the coming years, leading to an increase in job opportunities not just in manufacturing roles but also in areas such as engineering, programming, and data analysis.
Updated on January 24, 2023 by Ken Cheng