What is Automation & Process Control?
Automation & Process Control is a method used to control various process across industries with the help of controllers, interconnected sensors and others devices. The ultimate aim of automation & process control is to reduce the time as well energy thus, maximizing the enterprise profit. Considering the growing automation across industry verticals, there has been a huge opportunity for a service provider to flourish in the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
Key Companies Profiled | Rockwell Automation Inc (United States), Honeywell International Inc. (United States), ABB Ltd (Switzerland), General Electric Company (United States), Emerson Electric Company (United States), Dassault Systems SE (France), Autodesk Inc. (United States), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Aspen Technology Inc. (United States), Robert Bosch GmbH (Germany), Texas Instruments Inc. (United States) and Johnson Controls International PLC (United States) |
CAGR | 6.53% |
The Global Automation & Process Control market is expected to see growth rate of 6.53% and may see market size of USD329.65 Billion by 2028. The study covers a detailed analysis segmented by key business segments i.e. by type (Field Devices, Motion & Drives, Relays & Switches and Others) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Automation & Process Control market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Automation & Process Control market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Rockwell Automation Inc (United States), Honeywell International Inc. (United States), ABB Ltd (Switzerland), General Electric Company (United States), Emerson Electric Company (United States), Dassault Systems SE (France), Autodesk Inc. (United States), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Aspen Technology Inc. (United States), Robert Bosch GmbH (Germany), Texas Instruments Inc. (United States) and Johnson Controls International PLC (United States).
Market Overview:
In November 2022, Rockwell Automation, Inc., the world's largest specialist in industrial automation and digital transformation, acquired CUBIC, a specialist in modular systems for constructing electrical panels. Acquisition Strengthens Leading Intelligent Motor Control Technology Portfolio
The market for Automation & Process Control is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.
Influencing Trend:
Growing Adoption of AI and Robotics and Focus on enhancing security with Incorporation of technologies such as Machine learning, AR and VR
Market Growth Drivers:
Growing Industrial Automation in a Bid to Increase Supply to Cater Demand Caused by Population Influx and Adoption of IOT and Machine To Machine Technologies
Challenges:
Lack of Skilled Workforce for preventing Enterprise to go for Full-Scale Adoption of Factory Automation and Risk of Security and Potential Data Breach
Restraints:
High Cost of Installation of These System and Lack of Standardization and Uniform Technologies
Opportunities:
Emergence of industry 4.0 and Stringent regulatory guidelines and Need for Compliance Adherence
Key highlights of the Global Automation & Process Control market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Automation & Process Control market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Automation & Process Control market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Automation & Process Control Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automation & Process Control market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Automation & Process Control market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Automation & Process Control Providers, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.