[380 Pages Report] Process Automation & Instrumentation Market categories the global market by Technology (SCADA, PLC, DCS, MES), Types (Hardware, Software, Service), Application (Oil & Gas, Solar, Metal, Chemical, Water & Waste, Energy, Food, Automotive and by Geography.
Dallas, TX -- (SBWIRE) -- 05/27/2014 -- According to the new market research report "Process Automation and Instrumentation Market by Types (Hardware, Software, Service), Technology (SCADA, PLC, DCS, MES), Application (Chemical, Oil & Gas, Solar, Metal, Water & Waste, Energy, Food, Automotive and Geography - Analysis & Global Forecasts to 2013 - 2020", the Process Automation and Instrumentation Market is projected to cross $180.26 Billion by 2020, growing at a CAGR of 6.08% from 2014 to 2020.
Browse 96 market data Tables and 75 Figures spread through 380 Pages and in-depth TOC on "Process Automation and Instrumentation Market".
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The extensive study of the competitive landscape of the process automation and instrumentation market clearly portrays that the American market has most of the global market leaders as its top performers. The companies provide solutions related to PA & PI market as well as other automation solutions. We can clearly see that APAC has a significant number of players but lesser automated industries as of now. By this, we can understand that these players in the APAC market are serving the niche players. APAC will grow at the fastest rate in the coming five years due to the fast growth of the niche market as well as a better demand in the bigger industries.
The major players dealing in process instrumentation related products and solutions are Emerson (U.S.), Yokogawa (Japan), Siemens (Germany), Honeywell (U.S.) and Endress+Hauser (Switzerland), among others. The others section contains companies like Vega (Germany) and Krohne (Germany) which form a minor chunk of the instrumentation market.Yokogawa (Japan), Honeywell (U.S.), Siemens (Germany), Emerson (U.S.), and ABB (Switzerland) among others hold the maximum share for the Process Automation Market. The others section contains Schneider Electric (France), Mitsubishi Electric (Japan), GE (U.S.), Omron (Japan) and Rockwell Automation (U.S.), among others. Yokogawa (Japan) is a major player in the DCS market and Siemens (Germany) leads the pecking order of the global PLC manufacturers.
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The new product launch is the most important growth strategy in the process automation market. Collaborations, partnerships, agreements and joint ventures are also some of the major strategies that are taken up by the market leaders. Even though M&A’s are not very frequent in the process automation market, it is still an important strategy for the growth of the market.
The market has seen potential for growth in the emerging economies like BRIC countries and other South-East Asian countries. Increase in the number of expansion plans of the process based industries have led to a rise in demand for automation products. As a result of this, many small companies entered the market as prospective OEM, with the backing from private equity and venture funds. This has changed the competitive dynamics for the existing big players as their profit margins have decreased.
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Process automation has been designated the term by the upsurge in the virtualization phenomenon which is aimed at refurbishing the various manufacturing processes in the industrial ecosystem. The refurbishing incorporates improving the longevity of the control systems and keep the scalability and uptime levels at par with the industry standards. Moreover, it also aids in achieving hardware independence ultimately resulting in overall escalation of the system scalability. Moreover, the process automation analogy has also narrowed the gap between the information exchange and performance throughputs pertaining to the communication protocols and various automation technologies.
The industrial output across the globe clearly portrays the fluctuating demand-supply ratio which has been plaguing the profitability of the manufacturing bases of the various industry majors across the developing nations. The process automation taxonomy helps in bridging this gap and maintains a prudent check on maintaining maximum profitability in a scenario where is witnessing scarcity in the available resources.
Process automation serves different connotations for different geographies across the globe. The European region, though on a lower scale, lays emphasis on the automation of the control systems because of the stringent federal norms testament to the revised emission norms. The APAC region, which is expected to scale itself as a game-changer for the process automation market, mainly emphasizes on mass production, thereby enriching monetary dividends. The major verticals consolidating their stake in the process automation market and the associated hardware, software and the service domains, comprise of pharmaceutical, chemical, oil & gas and power generation.
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The service market has emerged as the most prolific domain in churning out the market revenues for the Process Automation Market, with an augmented segment of the end-users, preferring the maintenance and outsourcing services instead of the in-house purchase and the subsequent maintenance. The major driving factors for the process automation market, which are expected to pay rich dividends in the coming years, include the need for energy efficiency, government incentive schemes for the manufacturing industry, and the upsurge in the labor charges.
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