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Global Field Device Management Market Analysis To 2027 Leading Players ABB Group, Emerson Electric, FANUC, Honeywell, Metso, OMRON, Rockwell Automation, Schneider Electric, Siemens AG, Yokogawa Electric

08-08-2019 08:01 AM CET | IT, New Media & Software

Press release from: The Insight Partners

Global Field Device Management Market

Global Field Device Management Market

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global field device management market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The field device management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Some of the leading players in global market are ABB Group, Emerson Electric Co., FANUC, Honeywell International Inc., Metso Corporation, OMRON Corporation, Rockwell Automation, Inc., Schneider Electric, Siemens AG, Yokogawa Electric Corporation

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Field device management or FDM is a versatile, accessible, and predictable plant instrumentation solution which simplifies the maintenance of the smart instrument. It conforms to industry standards and uses remote communication infrastructure to communicate to the configured devices. The introduction of industry 4.0 has resulted in the growing importance for field device management. The need for the effective operation of production equipment and reduction of frequent field trips is increasingly driving the industries to employ such systems and improve overall asset effectiveness.

The field device management market is anticipated to grow in the forecast period owing to driving factors such as the growing trend of industrial automation and smart factory practices with the revolution industry 4.0. Furthermore, manufacturers are increasingly focusing on reducing operational and maintenance cost, which is propelling the growth of the field device management market. However, a lack of skilled workforce may obstruct the market growth. Nonetheless, cloud computing technologies offer lucrative opportunities for the field device management market during the forecast period.

The global field device management market is segmented on the basis of components, communication protocol, deployment mode, and industry type. By components, the market is segmented as hardware and software. Based on communication protocol, the market is segmented as foundation fieldbus & hart, profibus, profinet, ethernet, modbus, and others. On the basis of the deployment mode, the market is segmented into cloud and on-premises. The market on the basis of the industry type is segmented as oil & gas, energy & power, chemicals, pharmaceuticals, automotive, manufacturing.

The report analyzes factors affecting field device management market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the field device management market in these regions.The reports cover key developments in the field device management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from field device management market are anticipated to lucrative growth opportunities in the future with the rising demand for field device management in the global market. Below mentioned is the list of few companies engaged in the field device management market.

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The Insight Partners
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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