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Market HighlightsThe global process automation & instrumentation market is projected to witness a rapid growth during the forecast period. The growing demand for process automation & instrumentation among industries helps in optimizing the operating cost and improvise production efficiency
The global process automation & instrumentation market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the process automation & instrumentation market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. New York is anticipated to drive the growth of the Process Automation & Instrumentation Market owing to the presence of a large number of established key players such as ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.). The adoption of advance instrument across industry domains is further aiding the market growth.
Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the presence of oil and chemical factories, the presence of emerging economies, and technological advancement in process automation & instrumentation.
The global process automation & instrumentation market is projected to reach USD 72 billion at a CAGR of over 6% by the end of the forecast period 2017-2023.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Process Automation & Instrumentation market Research Report-Forecast to 2023”.
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Industry Updates:
July 2018 $250 million dollars were raised by Automation Anywhere in a series-A round which valued it at $1.8 billion. The investment was headed by New Enterprise Associates (NEA) and Goldman Sachs Growth Equity with participation from General Atlantic and World Innovation Lab (WiL). Automation Anywhere is on track to intensify its customer engagements in Latin America, South Korea, India, Europe, North America, Australia, Japan, and Singapore with this large round of funding, and plans to position its technology in other geographies as well. The company will also take an effort to improve its cognitive technology abilities.
Key Players:
Some of the prominent players in the global process automation & instrumentation market: ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).
Industry Segments
The market for process automation & instrumentation is segmented on the basis of solution, instrument, and end-users. The segment based on solution includes HMI, APC, DCS, PLC, MES, safety automation & SCADA. The instrument-based segmentation of the market consists of control valve, field instrument, and analyzer. The segment of field instrument is additionally sub-segmented into temperature, level, pressure, and humidity. The segment of control valves is further sub divided into actuator, valve body, and others. The analyzer segment is also further sub divided into gas chromatograph, pH analyzer conductivity analyzer, and a liquid chromatograph. The end-user segment comprises of energy & power, chemicals, metals & mining, water & wastewater, food & beverages, pulp & paper, oil & gas, pharmaceuticals, and others.
Detailed Regional Analysis
The process automation & instrumentation market covers regions such as Europe, Asia Pacific, North America, and Rest of the World. It has been witnessed that the North America region is responsible for the principal share in the market. Due to the technological advancements around the world, such as a well-established industrial area and intensifying investment by the government in the U.S. in the chemical & petrochemical industry is aiding the market’s development in the past few years. The Asia Pacific region is anticipated to be the most rapidly growing region due to the occurrence of oil refineries in several nations, but the region has in the past undergone a low market value.
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Intended Audience
• Technology Investors
• Research/Consultancy firms
• Original Instrument Manufacturers
• Associations, organizations, forums, and alliances
• Process automation & instrumentation manufacturers
• End users of process industries
• Automation consultants
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Organization: Market Research Future
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Release ID: 504381