Process Automation & Instrumentation Market 2019 Global Trends, Sales Revenue, Industry Growth, Emerging Opportunities, Key Vendors and Potential of Industry Till 2023
Jul 5, 2019
Market Research Future published a research report on “Process Automation & Instrumentation Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India - July 5, 2019 /MarketersMedia/ —
Process Automation and Instrumentation Market – Overview
The burgeoning growth in self-learning technology available in markets around the world has spurred the development of process automation and instrumentation considerably. Market reports linked to the semiconductor & electronics sector made available by Market Research Future along with published reports on other industry have been recently published along with a report on this industry. The market is anticipated to reach USD 72 billion in revenues approximately in the forecast period while developing at a CAGR of over 6 percent in the duration of the forecast period.
The amplifying demand being observed for enhancing the operating charge and boosting the production efficiency has been driving markets across the world. The implementation of multivendor portable applications is anticipated to be among the top factors for driving hr expansion of the market in the forecast period. The market is also expected to gain significantly from the adoption of IoT technology across diverse industrial domains.
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Process Automation and Instrumentation Market - Segmentation
For ease of understanding, the analysis has been segmented into four key dynamics:
• By Instrument: Field Instrument and Control Valve & Analyzer
• By Solution: APC, DCS, HMI, MES, PLC, and Safety Automation & SCADA.
• By End-user: Energy & Power, Chemicals, Food & Beverages, Oil & Gas, Metals & Mining, Pharmaceuticals, Water & Wastewater, and Pulp & Paper among others.
• By Region: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Key Players:
Some of the prominent players in the global Process Automation & Instrumentation Market: ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).
Detailed Regional Analysis
The North American region, heading with the vast technological advancement, dominates the global process automation and instrumentation market. Well-Established industrialization and the rising investment by the U.S. government across the chemical & petrochemical industry are some of the dominant factors fostering the growth in the regional market.
The process automation and instrumentation market in the European region accounts for the second-largest market, globally. Factors such as the burgeoning manufacturing sector alongside some of the burgeoning industries such as food & beverages, metals & mining, and pharmaceuticals are driving the regional market.
The Asia Pacific process automation and instrumentation market is emerging as a profitable market, globally. Factors such as the rapid industrialization and the growth in the pharmaceutical sector propel the regional market. The presence of oil refineries in some countries are positively impacting the market growth in the region; however, the region has experienced a low market value so far.
Major foreign players are focusing on the Asian market due to the increase in industrial growth in the region. To increase the overall revenue, these players are targeting emerging countries like China and India. This attention, in turn, is expected to significantly contribute to the process automation and instrumentation market in the region.
Industry Updates:
July 2018 $250 million dollars were raised by Automation Anywhere in a series-A round which valued it at $1.8 billion. The investment was headed by New Enterprise Associates (NEA) and Goldman Sachs Growth Equity with participation from General Atlantic and World Innovation Lab (WiL). Automation Anywhere is on track to intensify its customer engagements in Latin America, South Korea, India, Europe, North America, Australia, Japan, and Singapore with this large round of funding, and plans to position its technology in other geographies as well. The company will also take an effort to improve its cognitive technology abilities.
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Intended Audience
• Technology Investors
• Research/Consultancy firms
• Original Instrument Manufacturers
• Associations, organizations, forums, and alliances
• Process automation & instrumentation manufacturers
• End users of process industries
• Automation consultants
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 88893001
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