Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1172
Browse in-depth TOC on "Process Automation and Instrumentation Market"
110 – Tables
60 – Figures
270 – Pages
Process Automation and Instrumentation Market Report Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$ 74.2 billion |
Estimated Value by 2029 |
$ 98.6 billion |
Growth Rate |
Poised to grow at a CAGR of 5.9% |
Market Size Available for |
2020–2029 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Million/Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Transmitter, Analyzer, PLC, DCS, SCADA, HMI, MES, Industry and Region |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge |
Integration with existing systems and infrastructure |
Key Market Opportunities |
Rise of Cloud-based Solutions |
Key Market Drivers |
Increasing focus of manufacturing firms on achieving cost saving and better efficiency |
Field instruments dominated the global process automation and instrumentation market in 2024.
Field Instruments is expected to dominate the global process automation and instrumentation market in instruments. Field instruments excel in providing accurate and reliable measurements of variables such as temperature, pressure and flow. The ability to provide predictive maintenance through continuous monitoring also helps reduce downtime and operating costs, making them indispensable in the oil and gas, pharmaceutical, food and beverage industry. Field instruments also help in cost saving by reducing manual monitoring and minimizing errors associated with human intervention. They are essential to maintain optimal operational efficiency and safety in industrial systems.
HMI to grow at the highest CAGR during the forecast period of 2024 to 2029.
Human Machine Interfaces (HMI) are poised to experience the highest growth rate (CAGR) within the process automation market. HMI provide a user-friendly interface that allows operators to monitor, control, and optimize production processes. It helps in efficient decision making, improved productivity and reduces human error. Increasing complexity of processes, rise of IIoT and a focus on security all combine to make HMIs the most dynamic part of the process automation market. The emergence of cloud-based HMI solutions and the increasing use of mobile devices for remote monitoring and control are expected to contribute to the high growth rate of the HMI segment in the process automation market during the forecast period.
Pharmaceuticals to grow at the highest CAGR during the forecast period of 2024 to 2029.
Pharmaceutical Industry is expected to grow at the highest compound annual growth rate (CAGR) in the process automation and instrumentation market, owing to increasing demand for sophisticated tools and equipment to support drug discovery, development, analysis, and modeling of compounds. Companies focus on growth through innovation and adoption of advanced automation technologies, such as human-machine interface (HMI), Supervisory Control and Data Acquisition Systems (SCADA) and Manufacturing Execution Systems (MES), it is expected that operations will increase efficiency, reduce reliance on manual processes, and improve compliance with stringent regulatory standards, contributing to the highest CAGR in the process automation and instrumentation market.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1172
Asia Pacific to grow at the highest CAGR during the forecast period of 2024 to 2029.
Asia Pacific is expected to grow with the highest CAGR in the global process automation and instrumentation industry. In Asia Pacific, the demand for process automation and instrumentation solutions is due to rapid industrialization in countries like China, India, and Vietnam which is driving the demand for efficient and automated production processes. The region has shown investments in research and developments while increasing the adoption of advanced technologies, thereby boosting demand for automation solutions. And the government policies aimed at promoting automation and digitalization is further boosts the market. The region's established industries, such as pharmaceuticals, oil & gas, also boost the demand for process automation solutions.
Major companies operating in this process automation and instrumentation companies include ABB (Switzerland), Emerson Electric Co. (US), Siemens (Germany), General Electric Company (US), and Schneider Electric (France).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1172
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Industrial Control and Factory Automation Market by Component, Solution (SCADA, PLC, DCS, MES, Industrial Safety, PAM), Industry (Process Industry and Discrete Industry), and Region (North America, Europe, APAC, RoW) – Global Forecast to 2027
Manufacturing Execution Systems Market by Offering (Software, Services), Deployment (On-premises, On-demand, Hybrid), Process Industry (Oil & Gas, Pharmaceuticals & Life Sciences), Discrete Industry (Automotive, Aerospace) - Global Forecast to 2029
Mexico Factory Automation and Machine Vision Market by Technology (ICS, MES, ERP, ITS), Field Devices, Products (PC-based, Smart Camera, Embedded), Components (Camera, FGOL), Application (Process, Discrete) - Global Forecast & Analysis to 2013 – 2020
Smart Manufacturing Market Size, Share, Statistics and Industry Growth Analysis Report by Technology (3D printing, Al in Manufacturing, Automated guided vehicle, Condition Monitoring, Cybersecurity, Digital Twin, HMI, Machine Vision, MES, PAM, Robot, Sensor), Industry, Region - Global Forecast to 2028
Industrial Services Market by SCADA, Distributed Control System, Manufacturing Execution System, Safety Systems, Motors & Drives, Industrial Robotics, Industrial 3D Printing, Industrial PC, PLC, Service Type, End-user Industry - Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/process-automation-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/process-automation.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
Share this article