The Canadian industrial automation market is expected to grow at a CAGR of 8.5% from 2023 to 2026, driven by increasing demand for process optimization and improved productivity.
According to Statistics Canada, the industrial automation market in Canada was valued at CAD 4.5 billion in 2022, with a growth rate of 7.2% year-over-year, driven by investments in robotics and machine learning.
The Canada industrial automation market size is anticipated to reach USD 6.3 billion by 2026, growing at a CAGR of 9.1% during the forecast period, driven by the increasing adoption of Industry 4.0 technologies.
Key players in the Canadian industrial automation market include Siemens, Rockwell Automation, and ABB, which together account for over 50% of the market share, according to a new report by ResearchAndMarkets.com.
Invest in Canada highlights the country's industrial automation sector as a key area for investment, with major clusters in Ontario, Quebec, and British Columbia, and a highly skilled workforce.
The IEEE Industrial Automation Society forecasts that the global industrial automation market, including Canada, will reach USD 235 billion by 2026, driven by the increasing use of artificial intelligence, robotics, and the Internet of Things (IoT).
Mordor Intelligence estimates that the Canadian industrial automation market will grow at a CAGR of 8.8% from 2023 to 2026, driven by the increasing demand for industrial automation solutions in the manufacturing, oil and gas, and food processing sectors.
This video provides an overview of the industrial automation market in Canada, including trends, challenges, and opportunities, featuring insights from industry experts and thought leaders.