Hungary Industrial Automation Market revenue is projected to grow at a CAGR of 10.2% during 2024–2030

On the basis of product/component, the factory and industrial robot category accomplished the prominent revenue share in Hungary Industrial Automation Market – 6Wresearch

Factory and Industrial Robots held a prominent position in Hungary's industrial automation market in 2023 and are projected to maintain their dominance going forward." This trend underscores the growing adoption of robotic technologies in manufacturing processes to enhance efficiency, productivity, and competitiveness within Hungary's industrial sector. The continued emphasis on automation reflects the industry's evolution towards advanced manufacturing methodologies, aligning with global trends in Industry 4.0.

According to 6Wresearch, Hungary Industrial Automation Market revenue is projected to grow at a CAGR of 10.2% during 2024–2030. With the advent of Industry 4.0 globally, businesses are undergoing a transformative phase driven by digitalization, data proliferation, interconnectivity, analytics, and automation. The emergence of smart factories and warehouses marks a pivotal shift in supply-chain management towards digitalized manufacturing. These facilities integrate interconnected devices, machinery, and production systems to continually gather and exchange data. Leveraging high-speed 5G mobile technology and artificial intelligence (AI), they offer solutions such as self-driving vehicles, proactive quality control measures, and remote maintenance via augmented reality.

Huawei Technologies' 5G European Supply Centre (ESC) in Waalwijk exemplifies this trend, boasting Industry 4.0 capabilities like 5G, AI, and cloud-computing innovations through the implementation of self-driving forklift trucks which have significantly enhanced logistics efficiency by 20%, as automated guided vehicles (AGVs), including pallet trucks and forklifts, operate seamlessly within factory premises, enhancing efficiency while minimizing the risk of employee injuries during heavy object transportation. Accenture recently acquired Eclipse Automation, a provider of customized manufacturing automation solutions with an aim to combine advanced automation capabilities with their digital expertise.

Moreover, Chinese automaker BYD plans to establish its 1st European car factory in Hungary, alongside Schneider Electric's substantial investment in a new smart factory in Dunavesce, underscoring Hungary's growing significance in the automation landscape. Additionally, partnerships such as OPEX Corporation's collaboration with Advanced Robotics Zrt. and investments from renowned companies like LEGO, Stadler Group, Benepack Hungary Kft., LG Magna e-Powertrain, and Kirchhoff are further propelling Hungary's journey towards automation and enhanced manufacturing capabilities. These investments are not only fostering economic growth but also creating employment opportunities, thereby addressing demographic challenges and aligning with the imperative to automate processes for enhanced productivity and sustainability.

According to Abhishek, Senior Research Analyst, 6Wresearch, the focus should be on Hungary's automotive sector due to its pivotal role in the country's economy. Vehicle manufacturing contributes approximately 6% to Hungarian GDP, with automotive suppliers adding another 8% to 9%. This sector accounts for around 30% of industrial output and plays a significant role in Europe, with about 90.5% of industry-produced goods exported to leading European brands.

Hungary Industrial Automation Market (2024-2030) report provides an in-depth analysis with 10 figures and 5 tables, covered in 66 pages. The report comprehensively covers the market by product/component, system solutions, and end user/industries. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.