Process Automation and Instrumentation Market Size, Share & Industry Growth Analysis 2027


Northbrook, IL 60062 -- (SBWIRE) -- 09/06/2023 -- The global process automation and instrumentation market size is projected to reach USD 86.6 billion by 2027, at a CAGR of 5.5% during the forecast period.

The growth of this market can be attributed to the growing importance of energy efficiency and cost optimization, increased productivity, minimized errors and better scalability; the increasing use of digital technologies such as IIoT, machine learning, and artificial intelligence; and the rising emphasis on industrial automation and optimum utilization of resources.

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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.

Asia Pacific to grow at the highest CAGR during the forecast period of 2022 to 2027

In terms of region, Asia Pacific led the global process automation and instrumentation market, followed 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.

Key Market Players

ABB Ltd. (Switzerland), Emerson Electric Co. (US), Siemens (Germany), General Electric Company (US), and Schneider Electric (France) are a few major players in process automation and instrumentation market.