NEW YORK, Feb. 24, 2016 /PRNewswire/ -- "The process automation and instrumentation market projected to experience high growth in the coming years"
The process automation and instrumentation market is expected to reach USD 81.69 billion by 2020 at a CAGR of 4.68% between 2015 and 2020. The main driving factors which positively impact the process automation and instrumentation market is the demand to reduce the production cost, control of critical processes, and maintenance of the required rules, regulations and standards on the production floor. Automation helps in implementation of regulation and standards especially in industries such as food & beverages and pharmaceuticals.
"Market for process automation solutions expected to grow at a high CAGR during the forecast period"
The market for process automation solutions which include PLC, SCADA, DCS, and HMI among others is expected to grow at a high CAGR. Applications such as power, oil & gas, metal & mining and others involve hazardous and critical processes. It also involves the collection of data and its automation from a remote location. The implementation of automation products and services helps avoid the risk factor for the staff, and covers areas that are remote and difficult to be controlled manually. Thus, companies in process industries prefer implementing new and innovative automation products and solutions which automate critical and hazardous processes.
"Huge growth in automation expected from the Asia-pacific region"
The industrialization in the Asia-pacific region along with increasing cost of raw materials and the growing demand of products by customers has pushed the growth of the market for automation products and services. Companies are gradually realizing the benefits of implementation of automation techniques in the long term. Pharmaceuticals, food & beverages, water & wastewater management sectors, are some of the application areas which now have automation on a large scale. Oil & gas remain an important market holding the largest share; however, due to the recent decline in oil prices is expected to impact its growth rate.
Break-up of the profile of primary participants for the report is as given below:
- By Company Type - Tier 1 – 35 %, Tier 2 – 42% and Tier 3 – 23%
- By Designation – C level – 43%, Director level – 22%, Manager level – 35%
- By Region – North America - 44%, Europe – 20%, APAC – 31%, RoW – 5%
Companies involved in the development of process automation and instrumentation market include ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Endress+Hauser AG (Switzerland), HollySys Automation Technologies Ltd. (China), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Pepperl+Fuchs GmbH (Germany), R. STAHL AG (Germany), Rockwell Automation Inc. (U.S.), Schneider Electric SA (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).
Reasons to buy the report:
- This report includes the market statistics pertaining to instruments, solutions, applications, and geography along with their respective revenue. It also includes brief qualitative analysis of communication protocols.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the process automation and instrumentation market.
- Major drivers, restraints, and opportunities for the process automation and instrumentation market have been detailed in this report.
- Illustrative segmentation, analyses, and forecast for the markets based on instruments, solutions, applications, and geography have been conducted to give an overall view of the process automation and instrumentation market.
- A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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