Process Automation and Instrumentation Market 2018 Global Leaders: Emerson Electric, General Electric, ABB, Honeywell International, Mitsubishi Electric, Rockwell Automation, Yokogawa Electric

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.

Market Scenario

Process Automation & Instrumentation (SDP) simulates the process of human thoughts into a computerized model. This is a self-learning technology which uses the gestures, patterns recognition, data mining, and Natural Language Processing (NLP) to act like a human brain. Industries are using Process Automation & Instrumentation with big data analytics to get the better and accurate output.

Technology giants such 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.). ABB Ltd., a prominent player in process automation and instrumentation market, manufactures DCS products, solutions, and services for continuous or batch process industries, infrastructure, energy, and utilities and deliver service in collaborative control rooms. Emerson Electric Co. a key player in the process automation and instrumentation market as adopt main automation contractor (MAC), which is responsible for providing automation technologies and services for the entire project. The MAC approach made managing the overall project much easier for the employees. It simplified sourcing, avoided integration headaches, provided clear lines of communication and accountability, and enabled Emerson’s automation expertise and their project management experience, tools, and resources.

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The major factors driving the growth of the Process Automation & Instrumentation Market is the increase in adoption of IoT technology across various industrial domains, growing strict regulation and compliance in process industries and to improvise production efficiency and minimize operating cost. However, aspects such as the failure rate of the instrument, the vulnerability of instrument breakage are high during critical working condition and uncertainty of breakdown.

The global process automation & instrumentation market is expected to grow at a CAGR of approximately 6% during the forecast period 2017-2023.

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.

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).

Industry Segments

The market for process automation & instrumentation is segmented on the basis of solution, instrument, and end-users. The segment based on solution includes HMI, APC, DCS, PLC, MES, safety automation & SCADA. The instrument based segmentation of the market consists of control valve, field instrument, and analyzer. The segment of field instrument is additionally sub-segmented into temperature, level, pressure, and humidity. The segment of control valves is further sub divided into actuator, valve body, and others. The analyzer segment is also further sub divided into gas chromatograph, pH analyzer conductivity analyzer, and a liquid chromatograph. The end-user segment comprises of energy & power, chemicals, metals & mining, water & wastewater, food & beverages, pulp & paper, oil & gas, pharmaceuticals, and others.

Detailed Regional Analysis

The process automation & instrumentation market covers regions such as Europe, Asia Pacific, North America, and Rest of the World. It has been witnessed that the North America region is responsible for the principal share in the market. Due to the technological advancements around the world, such as a well-established industrial area and intensifying investment by the government in the U.S. in the chemical & petrochemical industry is aiding the market’s development in the past few years. The Asia Pacific region is anticipated to be the most rapidly growing region due to the occurrence of oil refineries in several nations, but the region has in the past undergone a low market value.

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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

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