Press release
Global Process Automation Market To Be Driven by The Robust Technological Advancements in The Forecast Period Of 2021-2026
Process Automation Market
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Value (2020): USD 167.2 Billion
Forecast CAGR (2021-2026): 6.6%
Forecast Market Value (2026): USD 245.3 Billion
The global process automation market is fuelled by rapid technological advancements and a growing focus on productivity.
North America and Europe are high-maturity regions of the industry, while the Asia Pacific is a medium-maturity market. Europe is the leading market in terms of future expansion, accounting for a significant proportion of the global process automation market share in 2020.
The rise of the industry in Germany, the United Kingdom, and France is driving the demand in Europe, with Germany becoming the region's leading exporter of process automation.
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Industry Definition and Major Segments
The use of automated technologies to execute a procedure or procedures in order to complete a workflow or function is referred to as process automation.
Digital process automation is often referred to as "business process automation." A broad range of business procedures and operations can be automated, or at least partly automated, with human involvement at key points in workflows.
Digital process automation benefits sales, marketing, manufacturing, supply chain, quality control, administration, IT, and management processes.
The market can be divided based on application into:
Oil and Gas
Chemicals
Mining
General Industries
Consumer Goods
Pharma and Biotech
Power
Others
The regional markets for the product include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
In the forecast period, the global process automation market is expected to be led by a rising focus on increasing efficiency and eliminating dangerous manual activities.
North America's market is mature, making it a better place to absorb advanced technologies, strategic alliances, and product collaborations from industries such as oil and gas, metals and mines, pharmaceuticals, chemicals, and others, boosting process automation's growth.
Because of its proximity to North America, Latin America has the ability to expand process automation contracts in the oil and gas and mining sectors, boosting the market growth in the long run.
Key Market Players
The major players in the market are Siemens, ABB, Emerson, Schneider Electric, Rockwell Automation, Inc., Mitsubishi Electric, Danaher Corporation, Yokogawa Electric Corporation, and Endress+Hauser, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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About Us:
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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