Global Process Automation & Instrumentation Market is expected to rise from its initial estimated value of USD 68.70 billion in 2018 to an estimated value of USD 112.00 billion by 2026, registering a CAGR of 6.3% in the forecast period of 2019-2026. This rise in market value can be attributed to the benefits associated with increasing focus to improve production efficiency and optimize operating costs.
Some of the major competitors currently working in process automation & instrumentation market are. ABB (Switzerland), Emerson Electric Co. (US), GENERAL ELECTRIC. (US), Honeywell International, Inc. (US), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (US), Schneider Electric (France), Siemens (Germany), Yokogawa Electric Corporation (Japan), Metso Corporation (Finland), Beckhoff (Germany), Carlo Gavazzi Holding AG (Switzerland), Delta Electronics, Inc. (Taiwan), Emerson Electric Co. (US), Endress+Hauser Management AG (Switzerland), Hollysys Automation Technologies Ltd., Inc. (China), Idec Corporation ( Japan), Inductive Automation(US), Intech Process Automation Inc. (US), Maple Systems, Inc. (US), Pepperl+Fuchs GmbH (Germany), Process Automation Solutions GmbH (Germany), R. Stahl Ag (Germany), Robert Bosch GmbH (Germany), Rockwell Automation, Inc., (US), Hans Turck GmbH & Co. KG (US), WAGO Kontakttechnik GmbH & Co. KG (US) and others.
Process automation and instrumentation helps to optimize business outcomes by effectively monitoring and controlling production processes. Process automation involves using computer technology and software engineering. This helps to power plants and factories in industries as diverse as paper, mining and cement operate more efficiently and safely.
- There is high demand for adoption of iot across various industries is expected to act as a driver to the market growth
- There is high demand to increase focus on production efficiency and optimize operating costs is expected to act as a driver to the market growth
- Growing demand for proactive solutions that determine failures at component level is expected to act as a driver to the market growth.
- Shift in production approach from conventional practices to digitalized methods farms is also a market driver.
- Significant start-up capital required for implementation and maintenance of process automation and instrumentation systems is expected to act as a restraint to the market growth.
- Reluctance of small and medium-sized enterprises (SME) to adopt process automation and instrumentation solutions is expected to act as a restraint to the market growth.
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- Process Automation
- Process Instrumentation
- Field Instrument
- Control Valve
- Valve Body
- Converter I/P
- Ph Analyzer
- Conductivity Analyzer
- Gas Chromatograph
- Liquid Chromatograph
By Communication Protocol
- Wired Communication Protocol
- Wireless Communication Protocol
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- Supervisory Control and Data Acquisition (SCADA)
- Human Machine Interface (HMI)
- Safety Automation
- Emergency Shutdown System (Esd)
- Fire and Gas Monitoring & Control
- High Integrity Pressure Protection System (HIPPS)
- Burner Management System (BMS)
- Turbomachinery Control (TMC)
- Advanced Process Control (APC)
- Manufacturing Execution System (MES)
By End-User Industry
- Energy & Power
- Food & Beverages
- Metals & Mining
- Oil & Gas
- Pulp & Paper
- Water & Wastewater
- North America
- South America
- Middle East and Africa
Key Developments in the Market:
In March 2019, Virtusa Corporation won first place in Virtual Robotic Process Automation (RPA) At virtual Robotic Process Automation (RPA) Conference Virtusa Corporation is an American information technology services.
In April 2019, 4th Annual Machine Learning in Oil and Gas conference held in US. This conference focuses on the different ways that IT providers and various service companies are collaborating to implement software solutions, to extract value from the vast amounts of untapped data that the industry has accumulated. By this conference corporations are focusing their self to bring an era of intelligence.
Global process automation & instrumentation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of process automation & instrumentation market for Global, Europe, North America, Asia Pacific, South America and Middle East and Africa.
Table of Content: Global Process Automation & Instrumentation Market
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Process Automation & Instrumentation Market Landscape
Part 04: Global Process Automation & Instrumentation Market Sizing
Part 05: Global Process Automation & Instrumentation Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis