In this piece, we will take a look at the top 15 automation companies in the U.S. For more companies, head on over to Top 5 Automation Companies in the U.S.
The onset of the Internet of Things (IoT) and cloud computing have provided companies with new technologies and avenues to improve their business processes. While the factory of the early days involved workers, now, companies rely on automated processes to make machines do their bidding. Automation is not limited only to manufacturing operations. Instead, it has also spread to power generation and even healthcare, with robots and timed delivery systems reducing the workload on doctors, surgeons, and nurses.
Therefore, it's no surprise that the automation industry itself is worth billions of dollars. A research report from Acumen Research and Consulting outlines that the industry was worth $189.7 billion last year and from the end of this year to 2030, it will grow at a compounded annual growth rate (CAGR) of 9.7% to sit at $430.9 billion by the end of the forecast period. The research firm notes that a variety of different factors such as real time data for preventive analytics, robotic processes, intra company linkages through enterprise resource planning systems, and the growth in machine learning and big data analytics will drive the industry forward. Several different industries rely on automation these days, such as aerospace and defense, energy, pharmaceuticals, and automobile manufacturing. Asia Pacific is the largest automation market in the world, particularly since China's role as the world's manufacturing hub requires companies such as Foxconn to bring robots to their aid.
Another report, this time from Fortune Business Insights, estimates that the industrial automation market was worth $191.89 billion. It will grow to $205.86 billion by the end of this year, and from then until 2030, continue growing at a 9.8% CAGR for a final value of $395 billion. The firm adds that there is pent up growth in the industry due to the effects of the coronavirus pandemic that stalled manufacturing, and at the same time, COVID also spurred the adoption of industrial automation due to the reduced need for social distance measures. Robots, after all, do not catch the coronavirus. However, Fortune Business Insights disagrees with Acumen Research when it comes to the largest industrial automation market. According to this research firm, Europe held the largest share of the pie in 2021, with an estimated market value of $61.85 billion. IoT and augmented reality will drive automation; however, a key hindrance will be large capital expenditures.
Today's piece will focus on the largest automation companies that either operate in or provide their services in the United States. Out of these, the largest players are Honeywell International Inc. (NASDAQ:HON), Intuitive Surgical, Inc. (NASDAQ:ISRG), and General Electric Company (NYSE:GE).
Top 15 Automation Companies in the U.S.
Our Methodology
We studied the automation industry in detail to sift out the key players based on their markets and location. They were then selected through market capitalization, which is reflected in their ranking.
Market Capitalization as of December 6, 2022: $92.13 million
Asensus Surgical, Inc. (NYSE:ASXC) is a medical devices company that sells its products all over the globe. The firm is headquartered in Durham, North Carolina.
Asensus Surgical, Inc. (NYSE:ASXC) sells the Senhance surgical platform that lets surgeons automate their surgeries. Senhance is capable of using a camera for certain procedures and deploying up to four arms for using different instruments and even an ultrasonic system for manipulating tissue.
Insider Monkey studied 920 hedge fund holdings for Q3 2022 to discover that four had bought Asensus Surgical, Inc. (NYSE:ASXC)'s shares.
Asensus Surgical, Inc. (NYSE:ASXC) joins Intuitive Surgical, Inc. (NASDAQ:ISRG), Honeywell International Inc. (NASDAQ:HON), and General Electric Company (NYSE:GE) in our list of the top automation firms in the U.S.
Market Capitalization as of December 6, 2022: $210.27 million
Nauticus Robotics, Inc. (NASDAQ:KITT) is an American firm that provides marine robotic solutions. The company's Aquanaut robot allows users to investigate subsea items, and its Hyodronaut vessel is also fully autonomous and is designed to control Aquanaut. Nauticus Robotics, Inc. (NASDAQ:KITT) is headquartered in Webster, Texas.
Aquanaut is a diverse platform that lets users conduct their investigation without the need of attaching any data cables or power lines. It has a depth rating of three kilometers and can last for 116 hours of operations with a top speed of six knots. The vehicle also supports a wide variety of sensing packages including perception, acoustics, pipeline inspection, and optical communications.
Four out of the 920 hedge funds polled by Insider Monkey during this year's third quarter had held a stake in Nauticus Robotics, Inc. (NASDAQ:KITT).
Market Capitalization as of December 6, 2022: $1.38 billion
iRobot Corporation (NASDAQ:IRBT) provides consumer automation products that target households and educators. The firm is based in Bedford, Massachusetts.
iRobot Corporation (NASDAQ:IRBT)'s Roomba robot lineup is capable of autonomously vacuuming and its Brava robot lineup mops floors without direct operation. Additionally, the company also provides the Root robot lineup that teaches coding and behavioral programming.
Insider Monkey's Q3 2022 survey covering 920 hedge funds revealed that 23 had bought iRobot Corporation (NASDAQ:IRBT)'s shares.
iRobot Corporation (NASDAQ:IRBT)'s largest shareholder is Alec Litowitz and Ross Laser's Magnetar Capital which owns 1.4 million shares that are worth $84 million.
Market Capitalization as of December 6, 2022: $2.11 billion
Omnicell, Inc. (NASDAQ:OMCL) is a healthcare company based in Mountain View, California. The firm targets the needs of physicians, hospitals, pharmacists, and medical assistants.
Omnicell, Inc. (NASDAQ:OMCL)'s automation systems let hospitals dispense medications, physicians manage their workflows, healthcare facilities integrate their demand forecasts with supplier stock, and pharmacies to autonomously manage their inventory and carry out filling operations.
23 of the 920 hedge fund portfolios researched by Insider Monkey had invested in Omnicell, Inc. (NASDAQ:OMCL) during this year's third quarter.
Omnicell, Inc. (NASDAQ:OMCL)'s largst investor is Ken Griffin's Citadel Investment Group which owns 346,919 shares that are worth $30 million.
Market Capitalization as of December 6, 2022: $2.86 billion
Ambarella, Inc. (NASDAQ:AMBA) provides semiconductors for video compression, and video and neural network processing. The firm operates out of Santa Clara, California.
Ambarella, Inc. (NASDAQ:AMBA) sells systems on chips (SoCs) which are compact silicon packages that compress the processor, graphics unit, and other chips in a single unit. The SoCs are used in several platforms such as driver assistance platforms, robotic sensors, and industrial applications to automate identity management and security.
As part of their September quarter of 2022 investments, 28 of the 920 hedge funds part of Insider Monkey's study had held a stake in Ambarella, Inc. (NASDAQ:AMBA).
Out of these, Steven Cohen's Point72 Asset Management is Ambarella, Inc. (NASDAQ:AMBA)'s largest shareholder. It owns 1.2 million shares that are worth $72 million.
Market Capitalization as of December 6, 2022: $4.45 billion
Azenta, Inc. (NASDAQ:AZTA) is a healthcare firm that caters to the needs of the pharmaceutical and biotechnology industry. It is headquartered in Chelmsford, Massachusetts.
Azenta, Inc. (NASDAQ:AZTA)'s life sciences product segment lets pharmaceutical development firms autonomously handle their compound and biological samples. These products also support atmospheric and vacuum based processes. Azenta, Inc. (NASDAQ:AZTA) offers three automated sample storage platforms. These range from ambient storage to storage at cryogenic temperatures of -190 degrees Celsius.
22 out of the 920 hedge funds polled by Insider Monkey for their Q3 2022 investment portfolios had bought Azenta, Inc. (NASDAQ:AZTA)'s shares.
Azenta, Inc. (NASDAQ:AZTA)'s largest hedge fund investor is Seth Rosen's Nitorum Capital which owns 982,072 shares that are worth $42 million.
Market Capitalization as of December 6, 2022: $5.53 billion
Novanta Inc. (NASDAQ:NOVT) sells equipment to medical and industrial customers. It is based in Bedford, Massachusetts.
Novanta Inc. (NASDAQ:NOVT)'s products enable the design and development of automation machinery for both industries and medical use cases. Some of these products are motors, drives, motion control solutions, and robotic arm technology solutions.
Insider Monkey scanned 920 hedge fund portfolios for this year's third quarter to determine that 17 had held a stake in Novanta Inc. (NASDAQ:NOVT).
Market Capitalization as of December 6, 2022: $13 billion
Zebra Technologies Corporation (NASDAQ:ZBRA) is a diversified technology and industrials firm that was set up in 1969 and is headquartered in Lincolnshire, Illinois.
Zebra Technologies Corporation (NASDAQ:ZBRA) provides automation solutions for warehouse management. These include the use of robotics for a variety of warehouse operations such as picking through autonomous robots that work with operators to bring the desired goods that have been ordered by customers.
By the end of Q3 2022, 31 out of the 920 hedge funds part of Insider Monkey's survey had bought Zebra Technologies Corporation (NASDAQ:ZBRA)'s shares.
John W. Rogers' Ariel Investments is Zebra Technologies Corporation (NASDAQ:ZBRA)'s largest shareholder in our database through a $125 million stake that comes via 477,118 shares.
Market Capitalization as of December 6, 2022: $13.96 billion
Teradyne, Inc. (NASDAQ:TER) is a backend testing equipment firm that caters to the needs of the semiconductor, consumer electronics, and industrial industries.
Through Teradyne, Inc. (NASDAQ:TER)'s equipment, chip manufacturers can autonomously test their wafers and packages for defects after manufacturing. In semiconductor terminology, a wafer is a piece of silicon from which the chips are cut, and a package is a single chip that is surrounded by supporting materials. Teradyne, Inc. (NASDAQ:TER) also provides robots for industrial use.
33 of the 920 hedge funds polled by Insider Monkey for their third quarter of 2022 holdings had invested in Teradyne, Inc. (NASDAQ:TER).
Teradyne, Inc. (NASDAQ:TER)'s largest investor is Panayotis Takis Sparaggis' Alkeon Capital Management which owns 2.4 million shares that are worth $183 million.
Market Capitalization as of December 6, 2022: $29.22 billion
Rockwell Automation, Inc. (NYSE:ROK) is an industrial automation products and services provider that is one of the oldest companies on our list since it was founded in 1903.
Rockwell Automation, Inc. (NYSE:ROK) sells both automation hardware and software. The hardware segment has products such as the Allen-Bradley lineup that consolidate machinery data in a single platform. The software segment allows the creation of a robotic ecosystem for manufacturing and other applications.
Insider Monkey took a look at 920 hedge fund portfolios and found out that 35 had held a stake in Rockwell Automation, Inc. (NYSE:ROK) in Q3 2022.
Rockwell Automation, Inc. (NYSE:ROK)'s largest investor is Israel Englander's Millennium Management which owns 953,525 shares that are worth $205 million.
Honeywell International Inc. (NASDAQ:HON), Intuitive Surgical, Inc. (NASDAQ:ISRG), Rockwell Automation, Inc. (NYSE:ROK), and General Electric Company (NYSE:GE) are some of the top automation firms in America.
