The Global Automation And Instrumentation market accounted for more than USD 66.6 Billion in 2020 and is expected to reach USD 86.4 Billion by 2028, growing at a CAGR of around 3.4% between 2021 and 2028.
The Global Automation And Instrumentation Market accounted for more than USD 66.6 Billion in 2020 and is expected to reach USD 86.4 Billion by 2028, growing at a CAGR of around 3.4% between 2021 and 2028.
Automation is that the use of varied control systems for operating any equipment with negligible or no human interference. The use of automation has improved the standard, accuracy, and precision. The advantage of using automation is that it saves energy, labor, and materials. Instrumentation is often defined because of the art of control and therefore the measurement of the method variables within a production or manufacturing area. Instrumentation and automation go hand in hand. Different instruments are required within the automation process for measuring and analyzing the extent of the product's performance.
Automation and instrumentation complement one another as the automation process requires the assistance of various instruments. The necessity to extend productivity has prompted organizations to adopt automation to realize a competitive advantage over their rivals. Increasing labor costs have encouraged companies to implement automation to streamline their production procedures and reduce their dependency on expensive human labor. The labor scarcity in established regions is supposed to play a key role in determining the market within the near future. Industry participants that aim to scale back the general production time, decrease manufacturing cost, and increase manufacturing flexibility are expected to adopt such practices and are anticipated to play a lead role in influencing the market. Growing industrial safety concerns are projected to play a key role in complementing the worldwide market within the near future.
The process industries are having an excellent demand for automation which is one of the main factors boosting the expansion of the automation instrumentation market. Lack of effective product differentiation may hamper the expansion of the market; for instance, various automation instrument retailers face augmented competition from regional and native vendors thanks to a lack of effective product differentiation. As an answer to the present problem and to satisfy the requirements of the clients, retailers have begun to use customized automation solutions. Another benefit is that this stuff is offered to them at a competitive price. Hence, different industries like oil, gas, and petrochemical are moving to use automation instruments to enhance their operational efficiency.
The outbreak of COVID-19 has declined the worldwide marketplace for the process automation & instrumentation market. This is often thanks to the disruptions within the supply chain across the world. The economies around the globe have declined as there's a major decline in the demand for products. the assembly across all industries is limited thanks to the pandemic, the shortage of staple, decline in exports, and therefore the disruptions within the supply chain are the main factors contributing to the decline within the production also because the decline in process automation & instrumentation market.
The growth of this market is propelled by factors like the growing importance of energy efficiency and price reduction, emphasis on digitalized technologies like IIoT, increasing adoption of commercial automation, and optimum utilization of resources. Furthermore, the labor shortage in developed regions is presumed to play a key role in shaping the market shortly. Industry participants that aim to scale back the general production time, decrease manufacturing cost, and increase manufacturing flexibility are expected to adopt such practices and are anticipated to play a lead role in influencing the market. Growing industrial safety concerns are projected to play a key role in complementing the worldwide automation instrumentation market over the forecast period.
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Field instruments play an important role in process control by measuring the key elements like pressure, temperature, flow, and level in process industries like pharmaceuticals, chemicals, mining, oil & gas. These instruments are often controlled or automated from an impact room. Field instruments mainly contain transmitters that mainly measure and track pressure, flow, level, temperature, and humidity of liquid and gases and also contain a vibration level switch, which is employed for level detection of solids and liquids. The measurement of key elements—temperature, pressure, flow, and level—in process control is important to realize optimum productivity. It's imperative to get information quickly, smoothly, securely, and accurately from field instruments altogether process industries.
HMI is present during a computer that communicates with a specialized computer that's placed within the plant. It allows plant operators in procuring usable and actionable information from the plant equipment. It collects data from other integrated systems, processes the info, and provides a visible presence to the operator on a display board. It reduces human involvement within the production processes and enhances productivity and operator safety. HMI is that the single point of contact for operators to urge a whole view of production processes on the plant floor, leading to speed and accuracy within the decision-making process. The demand for HMI systems is growing owing to their increased applications in process industries.
Increasing competition within the industry and legislations associated with this industry; the growing importance of providing precision measuring equipment to supply accurate dosage of medicine; and the rising need for process automation solutions to varied processes like testing, manufacturing, drug development, packaging, and distribution are among the factors that are likely to propel the expansion within the pharmaceutical industry in automation and instrumentation market. Moreover, thanks to the involvement of complex manufacturing processes like milling, granulation, coating, and tablet pressing in pharmaceutical companies, there's a growing need for process automation solutions, which, in turn, is probably going to drive the demand for process automation and instrumentation market.
The Asia Pacific is anticipated to witness considerable growth due to upstream end-use industries in countries like China, India Brazil, and Russia. Moreover, high demand from these countries also impacts the expansion of the market in an appositive way.
Major market players of Automation And Instrumentation market comprise Emerson Electric Co., BB Ltd., Yokogawa Electric Corp., and Honeywell International Inc. Other major players influencing the global market are Siemens AG, Mitsubishi Electrical Corp, and Rockwell Automation.
The global Automation And Instrumentation Market is segmented as follows:
By Solution
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Instrument
FIG NO. 2. Market Attractiveness Analysis, By Solution
FIG NO. 3. Market Attractiveness Analysis, By Industry
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Automation & Instrumentation Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Instrument, 2020 & 2028
FIG NO. 8. Global Automation & Instrumentation Market for Field Instrument, Revenue (USD Million) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Automation & Instrumentation Market for Field Instrument, By Country, 2020 & 2028
FIG NO. 10. Global Automation & Instrumentation Market for Control Valve, Revenue (USD Million) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Automation & Instrumentation Market for Control Valve, By Country, 2020 & 2028
FIG NO. 12. Global Automation & Instrumentation Market for Analytical, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Automation & Instrumentation Market for Analytical, By Country, 2020 & 2028
FIG NO. 14. Global Automation & Instrumentation Market for others, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Automation & Instrumentation Market for others, By Country, 2020 & 2028
FIG NO. 16. Market Revenue Share, By Solution, 2020 & 2028
FIG NO. 17. Global Automation & Instrumentation Market for PLC, Revenue (USD Million) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Automation & Instrumentation Market for PLC, By Country, 2020 & 2028
FIG NO. 19. Global Automation & Instrumentation Market for DCS, Revenue (USD Million) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Automation & Instrumentation Market for DCS, By Country, 2020 & 2028
FIG NO. 21. Global Automation & Instrumentation Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 22. Comparative Revenue Analysis of Automation & Instrumentation Market for Others, By Country, 2020 & 2028
FIG NO. 23. Market Revenue Share, By Industry, 2020 & 2028
FIG NO. 24. Global Automation & Instrumentation Market for Pharmaceuticals, Revenue (USD Million) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Automation & Instrumentation Market for Pharmaceuticals, By Country, 2020 & 2028
FIG NO. 26. Global Automation & Instrumentation Market for Chemicals, Revenue (USD Million) 2016 – 2028
FIG NO. 27. Comparative Revenue Analysis of Automation & Instrumentation Market for Chemicals, By Country, 2020 & 2028
FIG NO. 28. Global Automation & Instrumentation Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 29. Comparative Revenue Analysis of Automation & Instrumentation Market for Others, By Country, 2020 & 2028
FIG NO. 30. Global Automation & Instrumentation Market Revenue Share, By Region, 2020 & 2028
FIG NO. 31. North America Automation & Instrumentation Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 32. Porter’s Five Forces Analysis for Global Automation & Instrumentation Market
FIG NO. 33. PEST Analysis for Global Automation & Instrumentation Market
FIG NO. 34. Pricing Analysis for Global Automation & Instrumentation Market
FIG NO. 35. Value Chain Analysis for Global Automation & Instrumentation Market
FIG NO. 36. Company Share Analysis, 2019
FIG NO. 37. Radar Determinant Chart, 2019
FIG NO. 38. Company Strategic Developments – Heat Map Analysis
FIG NO. 39. Emerson Electric Co Business Segment Revenue Share, 2020 (%)
FIG NO. 40. Emerson Electric Co Geographical Segment Revenue Share, 2020 (%)
FIG NO. 41. Market Channels
FIG NO. 42. Marketing Channel Development Trend
FIG NO. 43. Growth in World Gross Product, 2008-2018
FIG NO. 44. Research Methodology – Detailed View
FIG NO. 45. Research Methodology
List of Tables
TABLE NO. 1. Global Automation & Instrumentation Market: Snapshot
TABLE NO. 2. Quarterly Automation & Instrumentation Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Automation & Instrumentation Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Automation & Instrumentation Market for Instrument, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Automation & Instrumentation Market for Solution, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Automation & Instrumentation Market for Industry, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Automation & Instrumentation Market for others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. North America Automation & Instrumentation Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 11. North America Automation & Instrumentation Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 12. North America Automation & Instrumentation Market Revenue, By Fan Size, 2016 – 2028 (USD Million)
TABLE NO. 13. North America Automation & Instrumentation Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 14. U.S. Automation & Instrumentation Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 15. U.S. Automation & Instrumentation Market Revenue, By Instrument, 2016 – 2028 (USD Million)
TABLE NO. 16. U.S. Automation & Instrumentation Market Revenue, By Solution, 2016 – 2028 (USD Million)
TABLE NO. 17. U.S. Automation & Instrumentation Market Revenue, By Industry, 2016 – 2028 (USD Million)
TABLE NO. 18. Drivers for the Automation & Instrumentation Market: Impact Analysis
TABLE NO. 19. Restraints for the Automation & Instrumentation Market: Impact Analysis
TABLE NO. 20. Major Buyers of Automation & Instrumentation
TABLE NO. 21. Distributors/Traders List of Automation & Instrumentation
TABLE NO. 22. Global Automation & Instrumentation Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 23. Global Automation & Instrumentation Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
The global Automation And Instrumentation Market was valued at USD 66.6 billion in 2020.
The global Automation And Instrumentation Market is expected to reach USD 86.4 billion by 2028, growing at a CAGR of 3.4% between 2021 to 2028.
Some of the key factors driving the global Automation And Instrumentation Market growth are the rising focus on industrial automation & best utilization of resources, increase in the adoption of new technologies, and the proliferation of IoT.
Asia Pacific region is expected to grow at the highest CAGR during the forecast period. This is attributable to the increasing needs of a huge population and rapid industrialization along with favorable government policies.
Some of the major companies operating in Automation And Instrumentation Market are Emerson Electric Co., BB Ltd., Yokogawa Electric Corp., and Honeywell International Inc.
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