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).

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.

Top 15 Automation Companies in the U.S.

15. Asensus Surgical, Inc. (NYSE:ASXC)

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.

14. Nauticus Robotics, Inc. (NASDAQ:KITT)

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).

13. iRobot Corporation (NASDAQ:IRBT)

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.

12. Omnicell, Inc. (NASDAQ:OMCL)

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.

11. Ambarella, Inc. (NASDAQ:AMBA)

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.

10. Azenta, Inc. (NASDAQ:AZTA)

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.

9. Novanta Inc. (NASDAQ:NOVT)

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).

8. Zebra Technologies Corporation (NASDAQ:ZBRA)

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.

7. Teradyne, Inc. (NASDAQ:TER)

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.

6. Rockwell Automation, Inc. (NYSE:ROK)

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.

5. ABB Ltd (NYSE:ABB)

Market Capitalization as of December 6, 2022: $57.2 billion

ABB Ltd (NYSE:ABB) is a Swiss industrial company that sells its products in its home country and internationally, including the United States. The firm is based in Zurich, Switzerland.

ABB Ltd (NYSE:ABB) operates through different business segments, including one which sells robotics and automation equipment. The products are industrial robots, other robotic solutions, field software, servo motion, and machine vision equipment. Some examples of ABB Ltd (NYSE:ABB)’s robotics are industrial, autonomous, and collaborative robots.

16 out of the 920 hedge funds part of Insider Monkey’s Q3 2022 survey had bought ABB Ltd (NYSE:ABB)’s shares.

ABB Ltd (NYSE:ABB)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 20.6 million shares that are worth $530 million.

4. Emerson Electric Co. (NYSE:EMR)

Market Capitalization as of December 6, 2022: $59.93 billion

Emerson Electric Co. (NYSE:EMR) is an American firm that is headquartered in St. Louis, Missouri, and was set up in 1890.

Emerson Electric Co. (NYSE:EMR)’s Automation Solutions business segment provides a mix of 11 different hardware and software solutions. These allow companies to operate fluid control systems, manage their assets, and conduct a variety of different operations such as welding and assembly.

Insider Monkey studied 920 hedge funds for their third quarter of 2022 investments to determine that 48 had held a stake in Emerson Electric Co. (NYSE:EMR).

Emerson Electric Co. (NYSE:EMR)’s largest shareholder in our database is D.E. Shaw’s D E Shaw which owns 1.9 million shares that are worth $144 million.

3. General Electric Company (NYSE:GE)

Market Capitalization as of December 6, 2022: $93.25 billion

General Electric Company (NYSE:GE) is an American industrial company with global operations across several industries such as power, healthcare, and aviation.

General Electric Company (NYSE:GE)’s power division provides a variety of different automation products. The firm has roughly 4,500 automation systems that are deployed all over the world in steam power plants. These enable users to manage downtime, perform consistent upgrades, and ensure that all facilities are up to date.

By the end of this year’s September quarter, 53 of the 920 hedge funds surveyed by Insider Monkey had invested in General Electric Company (NYSE:GE).

Richard S. Pzena’s Pzena Investment Management is General Electric Company (NYSE:GE)’s largest hedge fund investor through an $851 million stake that comes via 13.7 million shares.

2. Intuitive Surgical, Inc. (NASDAQ:ISRG)

Market Capitalization as of December 6, 2022: $94.03 billion

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a robotics company that caters exclusively to the needs of the healthcare segment. The firm is based in Sunnyvale, California.

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s DaVinci platform is the leading robotic surgery assistant in the world. DaVinci not only allows surgeons to conduct complex surgeries in a minimally invasive manner, but it also expands its portfolio to include other medical operations as well such as biopsies.

69 of the 920 hedge fund portfolios for Q3 2022 that were analyzed by Insider Monkey had held a stake in Intuitive Surgical, Inc. (NASDAQ:ISRG).

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s largest shareholder is Ken Fisher’s Fisher Asset Management which owns 4.2 million shares that are worth $796 million.

1. Honeywell International Inc. (NASDAQ:HON)

Market Capitalization as of December 6, 2022: $142.78 billion

Honeywell International Inc. (NASDAQ:HON) is one of the leading aerospace and defense companies in the world. It also caters to the needs of the construction and industrial equipment industries.

Automation is central to Honeywell International Inc. (NASDAQ:HON)’s operations as the firm requires precise manufacturing and production alongside high output. It has automated several of its crucial processes such as welding. Welding is very important for Honeywell International Inc. (NASDAQ:HON) because it has to be done to exact aerospace specifications and skilled technicians are often hard to find.

Insider Monkey profiled 920 hedge funds for their September quarter of 2022 investments to discover that 53 had bought Honeywell International Inc. (NASDAQ:HON)’s shares.

Honeywell International Inc. (NASDAQ:HON)’s largest investor is Ric Dillon’s Diamond Hill Capital which owns 1.1 million shares that are worth $190 million.

Suggested Articles:

• 10 Most Advanced AI Companies
• 12 Best Augmented Reality Stocks To Buy
• Top 15 Infrastructure Companies in the US

Disclosure: None. Top 15 Automation Companies in the U.S. is originally published on Insider Monkey.