Process Automation and Instrumentation Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The global process automation and instrumentation market size is expected to grow from USD 66.2 billion in 2022 to USD 86.6 billion by 2027, at a CAGR of 5.5%. Process automation includes the use of computer technology and software engineering to automate industrial processes and eliminate human intervention. Process automation solutions primarily perform three functions-automating processes, centralizing information, and minimizing the need for inputs from humans.In this report, the process automation and instrumentation market has been discussed in detail, with segmentation based on instrument, solution, industry, and geography. The solution segment consists of process automation solutions, namely, programmable logic controller (PLC), supervisory control and data acquisition (SCADA), human-machine interface (HMI), manufacturing execution system (MES), distribution control system (DCS), and functional safety. The instrumentation market contains field instruments and process analyzers. Oil & gas; food & beverages; metals & mining; pulp & paper; pharmaceuticals; chemicals; energy & power; water & wastewater treatment; and others are covered in this report. The market has been segmented into four regions-North America, Asia Pacific, Europe, and RoW

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In instrument segment, field instruments dominated the global process automation and instrumentation market in 2021.Field instruments assist in managing plant assets, enhancing plant safety, and optimizing overall production processes through data acquisition, control, and measurement. It is necessary to obtain key information regarding major parameters, including temperature, pressure, and level, to monitor and control processes quickly, smoothly, securely, and accurately, as well as to achieve optimum productivity. These instruments play a pivotal role in measuring and controlling process parameters in process industries. For example, in June 2021, Emerson Electric Co. introduced a new Rosemount 1408H level transmitter, specifically designed for the food & beverages industry. The constant release of advanced products to automate industrial processes and measure and control different process parameters is expected to drive the process automation and instrumentation market for field instruments.

In solution segment, the global process automation and instrumentation market is dominated by DCS. The DCS maintains digital communication between various components, such as distributed controllers, workstations, and other computing elements. It controls processes such as electric power generation, oil & gas refining, and water & wastewater treatment. The rising demand for electricity and increasing focus of manufacturers on cost and time savings, as well as the emergence of open-source DCS solutions, drive the growth of the DCS market. The adoption of the Industrial Internet of Things, coupled with the convergence of information technology with operational technology, is likely to augment the market growth.

Based on industry, oil & gas dominated the process automation and instrumentation market in 2021. Oil and gas companies are increasingly leveraging process automation and instrumentation to acquire a constant stream of data that can be mined, aggregated into big data, and transformed into smart data through analytics and detailed analysis. Major components used for process automation and instrumentation in the oil & gas industry are software, such as MES and SCADA, and instruments, such as control valves, actuators, positioners, flowmeters, and transmitters.The oil demand can be met by increasing the productivity and efficiency of the oil and gas companies. Therefore, it becomes necessary for industry players to implement solutions to improve manufacturing processes. This can ultimately be achieved by adopting process automation and instrumentation solutions such as HMI, SCADA, and PLC.

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In terms of region, Asia Pacific led the global process automation and instrumentation market, followed by North America and Europe in 2021. In Asia Pacific, the demand for process automation and instrumentation solutions is growing from the oil & gas and food & beverages industries due to the ever-increasing population in Asia Pacific. Increasing investments in clean energy infrastructure in Asia Pacificto meet escalating demand for electricity and reduce reliance on fossil fuels to generate energy. Also, the process automation and instrumentation market for the pharmaceuticals industry in this region is expected to grow at the highest CAGR from 2022 to 2027 due to changing regulatory environment. Also, advantages such as higher reliability and flexibility and greater speed and accuracy offered by process automation encourage pharma companies to adopt process automation and instrumentation solutions.

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This release was published on openPR.