07-May-2019 | Zion Market Research
Zion Market Research has published a new report titled “Process Automation & Instrumentation Market by Instrument (Field Instrument, Control Valve, and Analyzers), by Solution (SCADA, PLC, DCS, and Others), and by Application (Chemicals, Oil & Gas, Mining, Energy & Power, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global process automation & instrumentation market was approximately USD 64.25 billion in 2018 and is expected to generate around USD 97.89 billion by 2025, at a CAGR of around 6.2% between 2019 and 2025.
Process automation and instrumentation is the use of technologically advanced devices along with computer software for control and monitoring purposes. Process automation and instrumentation also lower the expenditure of any manufacturing and production process by increasing production efficiency in various industrial and manufacturing facilities. The global process automation & instrumentation market is likely to experience significant growth in the future, owing to the implementation of IoT across various industry verticals to improve production processes. Furthermore, the increasing adoption and acceptance rate of multivendor portable applications is also stimulating market development. The rising demand for robust IT infrastructure coupled with the need to change and upgrade the existing business models is positively impacting the process automation & instrumentation market growth.
Browse the full “Process Automation & Instrumentation Market by Instrument (Field Instrument, Control Valve, and Analyzers), by Solution (SCADA, PLC, DCS, and Others), and by Application (Chemicals, Oil & Gas, Mining, Energy & Power, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/process-automation-instrumentation-market
Based on instrument, the global process automation & instrumentation market includes field instrument, control valve, and analyzers. Control valves are expected to dominate the global market in the future, as they play a crucial role in the production process. If these valves are not maintained properly, they can perform inefficiently. Based on the solution, the market is categorized into DCS, PLC, SCADA, and others. The DCS segment is expected to dominate the market in the future, as distributed control systems (DCS) are majorly utilized in various industry verticals like oil and gas, mining, energy, and power. On the basis of application, the market includes chemicals, oil and gas, energy and power, mining, and others. The energy and power segment is likely to dominate the global market in the upcoming years, due to the rising necessity to lessen unplanned downtime and growing demand for increasing plant efficiency.
In 2018, Asia Pacific held an extensive share of the global process automation & instrumentation market, due to the rising number of constructional activities across the region, industrialization, and urbanization. Moreover, the rising demand for automation solutions in the energy and power sector is likely to positively impact this regional market in the future. Europe is likely to show modest growth in the global process automation & instrumentation market in the upcoming years, due to the presence of prominent market players in the region, rising acceptance of multivendor portable applications among different industry verticals due to the need to upgrade their business models.
Some major players operating in the global process automation & instrumentation market are ABB, Emerson Electric, Honeywell International, Siemens AG, Rockwell Automation, General Electric, Metso Corporation, Mitsubishi Electric Corporation, Schneider Electric, and Yokogawa Electric Corporation.
This report segments the global process automation & instrumentation market into:
Global Process Automation & Instrumentation Market: Instrument Analysis
Global Process Automation & Instrumentation Market: Solution Analysis
Global Process Automation & Instrumentation Market: Application Analysis
Global Process Automation & Instrumentation Market: Regional Analysis
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