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Global Food Automation Strategic Industry Report 2024: Market to Reach $19.5 Billion by 2030 - Upgrading Food Automation Using Artificial IntelligenceDUBLIN, Feb. 20, 2024 /PRNewswire/ -- The "Food Automation - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. Global Food Automation Market to Reach $19.5 Billion by 2030 The global market for Food Automation estimated at US$11.7 Billion in the year 2022, is projected to reach a revised size of US$19.5 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030. Motors & Generators, one of the segments analyzed in the report, is projected to record a 6.9% CAGR and reach US$7.8 Billion by the end of the analysis period. Growth in the Discrete Controllers & Visualization segment is estimated at 7.4% CAGR for the next 8-year period. In this competitive landscape, 118 players worldwide exhibit varying degrees of market presence, ranging from strong to niche. Recent market activity reflects a growing focus on technological innovations and product advancements to meet evolving consumer demands and industry standards. As the food automation market continues to evolve, influencer insights and technological advancements will play a crucial role in shaping the future of the industry. With automation poised to transform the food and beverage sector, stakeholders must stay abreast of market trends and developments to capitalize on emerging opportunities and navigate competitive pressures effectively. The U.S. Market is Estimated at $2.6 Billion, While China is Forecast to Grow at 8.7% CAGR Amid these economic dynamics, the food automation market is gaining momentum, driven by the need for efficiency and safety in the food and beverage sector. Automation, particularly in the beverage sector, is experiencing significant growth, with Asia-Pacific emergingas a key driver of market demand. The Food Automation market in the U.S. is estimated at US$2.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2030 trailing a CAGR of 8.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 6.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Billion by the year 2030. MARKET TRENDS & DRIVERS
FOCUS ON SELECT PLAYERS (Total 118 Featured)
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