Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Global Process Automation & Instrumentation Market by Connectivity, Product, Type, End User - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Process Automation & Instrumentation Market size was estimated at USD 72.67 billion in 2022, USD 77.28 billion in 2023, growing at a CAGR of 6.47% to reach USD 120.08 billion by 2030.
Market Segmentation & Coverage:
This research report categorizes the Global Process Automation & Instrumentation Market in order to forecast the revenues and analyze trends in each of following sub-markets:
- Based on Connectivity, the market is studied across Wired Communication Protocol and Wireless Communication Protocol. The Wireless Communication Protocol is projected to witness significant market share during forecast period.
- Based on Product, the market is studied across Advanced Process Control, Distributed Control System, Human Machine Interface, Manufacturing Execution System, Programmable Logic Controller, Safety Automation, and Supervisory Control & Data Acquisition. The Manufacturing Execution System is projected to witness significant market share during forecast period.
- Based on Type, the market is studied across Process Automation and Process Instrumentation. The Process Automation is projected to witness significant market share during forecast period.
- Based on End User, the market is studied across Automotive & Transportation, Chemicals & Advanced Material, Energy & Utilities, Food & Beverage, and Pharmaceutical & Biotechnology Companies. The Pharmaceutical & Biotechnology Companies is projected to witness significant market share during forecast period.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The Americas commanded largest market share of 38.75% in 2022, followed by Europe, Middle East & Africa.
Market Dynamics
Drivers
- Need for a proactive solution to determine the failure
- Enforcement of regulatory compliance in process industries
- Rising labor wages across manufacturing hubs
Restraints
- High initial implementation and maintenance cost
Opportunities
- Upcoming wave of the industrial revolution
- Growing emphasis on robust IT infrastructure
Challenges
- Security concerns raising due to digitization
Companies Mentioned
- ABB Ltd.
- Azbil Corporation
- Emerson Electric Co.
- Endress+Hauser AG
- General Electric Company
- Honeywell International, Inc.
- Intel Corporation
- International Business Machines Corporation
- Mitsubishi Electric Corporation
- OMRON Corporation
- OutSystems
- Red Hat, Inc.
- SAP SA
- Schneider Electric SE
- Siemens AG
- Thermo Fisher Scientific Inc.
- Tibco by Cloud Software Group, Inc.
- Yokogawa Electric Corporation
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Process Automation & Instrumentation Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Process Automation & Instrumentation Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Process Automation & Instrumentation Market?
- What is the competitive strategic window for opportunities in the Global Process Automation & Instrumentation Market?
- What are the technology trends and regulatory frameworks in the Global Process Automation & Instrumentation Market?
- What is the market share of the leading vendors in the Global Process Automation & Instrumentation Market?
- What modes and strategic moves are considered suitable for entering the Global Process Automation & Instrumentation Market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 186 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $77.28 Billion |
| Forecasted Market Value (USD) by 2030 | $120.08 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/v7uyqq
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