Process Automation and Instrumentation Market 2021: Future Challenges, Emerging Technologies, Business Opportunities, Top Companies, Trends, Growth Factors, Revenue & Forecast to 2028
The global process automation and instrumentation market size is projected to reach around USD 98.6 billion by 2028. In addition, it is projected to gather a CAGR of around 7.98% over the forecast years 2020-2028.
Dallas, United States – April 22, 2021 /MarketersMedia/ —
Process automation is the use of automatic equipment to manufacture and produce different goods and products. Process automation largely makes use of motors, sensors, PLCs, and many other things that are automated. Process automation has created many high-paying careers for engineers, programmers, and maintenance workers. Industrial robots are the biggest applications of process automation. Today, industrial robots are being commonly used that have been replaced humans by robots. It has streamlined complex business processes thereby enhancing the quality of service, end products, improved service delivery, and minimized costs. Process automation is used in the food industry, healthcare industry, agriculture industry, pharmaceutical industry, and many such industries. The increasing focus of enterprises on transforming the traditional business processes with automation has spurred the Process Automation and Instrumentation Market.
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Process Instrumentation is used to control, measure, and analyze the physical quantities using different types of instruments used to control the process. Instrumentation in production and manufacturing processes is used to measure the temperature, gas, the flow rate of fluids, fluid levels, pressure, and pH levels. The process instrumentation products are different types of sensors, detectors, analyzers, controllers, monitoring systems, and more. Engineers use different instrumentation products to monitor and control the process for improving production, manufacturing consistent and quality products, ensure workplace safety in the production and processing facilities. Process Instrumentation is vital in preventing fire in facilities like oil, gas, chemicals, and other substances that are explosive and undergo combustion. Industries such as oil & gas, mining, manufacturing, chemical, food & beverages, and several other industries use Process Instrumentation. The increasing need for Process Instrumentation in these industries is driving the Process Automation and Instrumentation Market.
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The key leading Process Automation and Instrumentation Market are the U.S, France, Germany, Switzerland, China, Japan among others. However, the production and manufacturing processes across all the industries have come to a standstill due to the Coronavirus pandemic which is one of the major reasons that may hamper the Process Automation and Instrumentation Market growth.
The major players of the global process automation and instrumentation market are Siemens, Yokogawa, Endress+Hauser, Emerson, General Electric, ABB Ltd, HOLLYSYS, Schneider Electric, Honeywell, Mitsubishi Electric, Rockwell Automation.
Segment Overview of Global Process Automation and Instrumentation Market
Instrument Overview, 2018-2028 (USD Billion)
• Field Instrument
• Control Valve
• Analytical Instrument
Solution Overview, 2018-2028 (USD Billion)
• Advanced Process Control (APC)
• Distributed Control System (DCS)
• Human Machine Interaction (HMI)
• Manufacturing Execution System (MES)
• Programmable Logic Controller (PLC)
• Safety Automation
• Supervisory Control and Data Acquisition (SCADA)
Industry Overview, 2018-2028 (USD Billion)
• Oil and Gas
• Food and Beverage
• Pharmaceutical and Bio-pharma
• Chemical and Petrochemical
• Other
Regional Overview, 2018-2028 (USD Billion)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa
• South America
o Brazil
o Rest of South America
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