Global Automation and Instrumentation Market Share Continue to Grow by 2016-2024
Automation is the use of various control systems for operating any equipment with minimal or no human intervention. Use of automation has improved the quality, accuracy, and precision.
Sarasota, FL -- (SBWire) -- 05/11/2017 --Zion Market Research, the market research group announced the analysis report titled "Automation And Instrumentation Market: Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021"
Automation is the use of various control systems for operating any equipment with minimal or no human intervention. Use of automation has improved the quality, accuracy, and precision. The advantage of using automation is that it saves labor, energy, and materials. Instrumentation can be defined as the art of control and the measurement of the process variables within a production or manufacturing area. Instrumentation and automation go hand in hand. Different instruments are required in the automation process for measuring and analyzing the level of the product's performance.
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Automation and instrumentation complement each other as automation process requires the help of different instruments. The need to increase the productivity has prompted the organizations to adopt automation with an aim to gain a competitive advantage over their rivals. Rising labor costs have prompted companies to adopt automation with an aim to streamline their production processes and reduce their dependence on expensive human labor. The labor shortage in developed regions is presumed to play a key role in shaping the market in the near future. Industry participants that aim to reduce the overall production time, decrease manufacturing cost, and increase manufacturing flexibility are expected to adopt such practices and are anticipated to play a lead role in influencing the market. Growing industrial safety concerns are projected to play a key role in complementing the global market in the near future.
The process industries are having a great demand for automation which is one of the major factors boosting the growth of the automation instrumentation market. Lack of effective product differentiation may hamper the growth of the market; for example, various automation instrument retailers are facing augmented competition from regional and local vendors due to lack of effective product differentiation. As a solution to this problem and to meet the needs of the clients, retailers have started to use customized automation solutions. Another benefit is that these things are offered to them at a competitive price. Hence, different industries like oil, gas, and petrochemical are moving to use automation instruments to improve their operational efficiency.
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The automation and instrumentation market is segmented based on process stages, equipment, technology, end-use industry, and technique. Based on the type of process stages, the market is segmented as the collection, distribution, and treatment. On the basis of technique, the global market is segmented as the operating system, programmable, processor, and network instrumentation. Based on the end-use industry, the global market is segmented as refining chemicals industry, electric utilities, oil & gas, metals, mining, others.
Asia Pacific is anticipated to witness considerable growth owing to upstream end-use industries in countries such as Brazil, Russia, India, and China. Moreover, high demand from these countries also impacts the growth of the market in an appositive way.
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Some of the key players in the global automation and instrumentation market include Emerson Electric Co., BB Ltd., Yokogawa Electric Corp., and Honeywell International Inc. Other major players influencing the global market are Siemens AG, Mitsubishi Electrical Corp, and Rockwell Automation.
Automation And Instrumentation Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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