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Field Device Management Market 2023 - Future Growth, Regional Trends, Leading Players, Industry Demand And Outlook By 2032
Field Device Management Market
Field Device Management Market Size, Growth Rate, And Forecast
The global field device management market size grew from $2.01 billion in 2022 to $2.15 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The field device management market size is expected to grow to $2.78 billion in 2027 at a CAGR of 6.6%.
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Field Device Management Market Drivers
Increasing smart factories are expected to propel the growth of the field device management market going forward. A Smart Factory is the seamless relationship of individual production steps, from planning stages to actuators in the field. Smart factories and automation are helping to deliver exceptional customer experiences by simplifying processes and automating routine steps in executing field service tasks.
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Field Device Management Market Segments
• By Offering: Hardware, Software
• By Protocols: Foundation Fieldbus and HART, Profibus, Profinet, Modbus TCP/IP, EtherNet or IP, Other Protocols
• By Deployment Type Outlook: On-Premises, Cloud
• By Industry: Process Industries, Discrete Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Field Device Management market.
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Field Device Management Market Key Players
Major competitors in the Field Device Management market include Honeywell International Inc., Siemens AG, Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric SE.
The Business Research Company's "Global Field Device Management Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Field Device Management Market Include:
1. Executive Summary
2. Field Device Management Market Characteristics
3. Field Device Management Market Trends And Strategies
4. Field Device Management Market - Macro Economic Scenario
5. Field Device Management Market Size And Growth
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26. Africa Field Device Management Market
27. Field Device Management Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Field Device Management Market
29. Field Device Management Market Future Outlook and Potential Analysis
30. Appendix
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