Global Process Automation & Instrumentation Market 2017 Projected to Reach at a CAGR of 6.5% by 2024
The report “Global Process Automation & Instrumentation Market” accounted to USD 60.8 billion in 2016 growing at a CAGR of 6.5% during the forecast period of 2017 to 2024.
Pune, India – August 25, 2017 /MarketersMedia/ —
The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
“Global Process Automation & Instrumentation Market”, By communication protocol (Wired Communication Protocol, Wireless Communication Protocol) By solution (Programmable Logic Controller (PLC), Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Human Machine Interface (HMI), Safety Automation, Advanced Process Control (APC), Manufacturing Execution System (MES)) By End-user (Chemicals, Energy & Power, Food & Beverages, Metals & Mining, Oil & Gas, Pharmaceuticals, Pulp & Paper, Water & Wastewater, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Global Industry Trends and Forecast to 2024
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Process automation and instrumentation help companies to optimize business outcomes by effectively controlling production processes.
Major Market Drivers and Restraints:
• Rising Adoption of IoT Across Various Industries
• Growing Emphasis on Regulatory Compliances in Process Industries
• Increasing Focus to Improve Production Efficiency and Optimize Operating Costs
• Growing Demand for Proactive Solutions That Determine Failures at Component Level
Market Segmentation: Process Automation & Instrumentation Market
On the basis of communication protocol the process automation & instrumentation market is segmented into Wired Communication Protocol, Wireless Communication Protocol.
On the basis of solution the process automation & instrumentation market is segmented into Programmable Logic Controller (PLC), Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Human Machine Interface (HMI), Safety Automation, Advanced Process Control (APC), Manufacturing Execution System (MES).
On the basis of End-user the process automation & instrumentation market is segmented into Chemicals, Energy & Power, Food & Beverages, Metals & Mining, Oil & Gas, Pharmaceuticals, Pulp & Paper, Water & Wastewater, Others.
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On the basis of geography, process automation & instrumentation market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Process Automation & Instrumentation Market
Global Process Automation & Instrumentation Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Process Automation & Instrumentation Market
Some of the major players operating in process automation & instrumentation market are ABB Ltd., Emerson Electric Co., Honeywell International Inc., Siemens AG, Rockwell Automation, Inc., General Electric Co., Metso Corporation, Mitsubishi Electric Corporation, Schneider Electric Se, Yokogawa Electric Corporation among others.
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