What is Process Automation and Instrumentation Market?
Process automation and instrumentation are used to increase safety, efficiency and monitoring the processes by using software, hardware and computing technology. It is used by the industries such as cement, chemicals and automobiles. Implementation of Internet of Things is affecting the market positively. Also the demand for the automation in growing industries to ease the processes and large production.
The market study is being classified by Type (Process Automation and Process Instrumentation), by Application (Oil & Gas, Food & Beverages, Chemicals, Pharmaceuticals, Water & Wastewater, Metals & Mining, Energy & Power, Pulp & Paper and Other) and major geographies with country level break-up.
ABB Ltd. (Switzerland), Agilent Technologies Inc. (United States), Beckhoff Automation GmbH & Co. KG (Germany), Bosch Group (Germany), Danaher Corp (United States), Emerson Electric Co. (United States), General Electric Co. (United States), Hollysys Automation Technologies Ltd. (China), Honeywell International Inc. (United States) and Intech Process Automation Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Metso Corporation (Finland), Mitsubishi Electric Corporation (Japan), Omron (Japan), Rockwell Automation Inc. (United States), Schneider Electric SE (France) and Siemens AG (Germany).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Process Automation and Instrumentation market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Process Automation and Instrumentation market by Type, Application and Region.
On the basis of geography, the market of Process Automation and Instrumentation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Implementation of Automated Processes
- Need of Increasing the Efficiency due to Increasing Demand
Market Trend
- Technological Innovations in Some Industries like IT
- Industrialization in Developing Countries like India
Restraints
- High Costs Incurred for the Research and Development
- Implementation of Automation Process Requires Large Capital
Opportunities
- Shifting of Production Methods from Conventional to Digital
- Increasing Investments in Energy Sector is Creating an Opportunity
Challenges
- Availability of Cheap Labor in the Developing Countries is Hampering the Market
- Small and Medium Size Enterprises Having Limited Budget
Market Leaders and some development strategies
In 2019, Avantha Group Company, CG Power & Industrial Solutions launched Emotron VSX and Emotron VSM series which are packed with advanced features for critical applications
Key Target Audience
Technology Providers, Research Organisations, Technology Investors, Venture Capitalists and Government Organisations