Global Process Automation Market - 2023-2030
Description
Process Automation The Global Process Automation Market reached USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 7.6% during the forecast period (2024-2031).
Process automation is the use of software and technologies to automate corporate operations and tasks to achieve specific organizational objectives, such as the creation of a product, the recruitment and onboarding of personnel or the provision of customer care.
The improvement in productivity that results from delegating tedious activities to machines that can work longer and faster than people is one of the process automation's most visible benefits.
Process Automation Market Growth
Increasing consumer awareness about benefits of process automation
Process automation lowers labor costs and wasteful time, both of which result in cost savings. Robotic process automation (RPA) robots collect and provide reports that are essential for fresh business concepts while reducing the possibility of human error. Additionally, it helps to cut down on paper-based processes, which enhances work accuracy. The benefits help fuel an increase in demand for process automation across a range of industries.
High implementation and maintenance costs
To establish solutions like DCS at an industrial site, a number of processes must be finished, including systems implementation, process operation, data collecting and consulting. As a result, overall costs rise, increasing the plant owner's operating expenses. Furthermore, automation software programs constantly need to be updated due to ongoing technological breakthroughs. Small enterprises are unable to afford to pay these expenses. Due to the high capital costs associated with system installation, maintenance and upgrades, the market's potential growth is relatively constrained.
Process Automation Market Segmentation Analysis
The global process automation market is segmented based on technology, type, communication protocol, end-user and region.
The rising adoption of new technologies in oil and gas
In terms of end users, oil and gas hold a large market share. The exploration, extraction, production, processing, transportation and marketing of crude oil and natural gas are all part of the oil and gas sector. The sector is essential to the world economy since it provides the main source of energy for heating, electrical production and transportation. To increase productivity, lower costs and have a minimal negative impact on the environment, the industry develops and uses new technologies.
Drilling rigs, pumps and valves, among other pieces of machinery, function best when their performance is optimized through the use of process automation in exploration and production. While controllers are used to modify the process based on the data obtained from the sensors, sensors are used to monitor a variety of factors, including pressure, temperature and flow rate.
Global Process Automation Market Geographical Share
The adoption of process automation in Europe to reduce costs
Process automation is a fast-expanding industry in Europe, where businesses are implementing automation technologies to improve productivity, cut costs and streamline processes. Industrial automation, which involves automating production and manufacturing processes, is a prominent area of concentration in the region for process automation. Robotics, sensors and other cutting-edge technology may be used to streamline processes and raise product quality.
Additionally, the region is home to a number of important players and numerous businesses are investing there as a result of the region's significant investment in adopting modern technology and the high demand for that technology from end users in the oil and gas, chemical and power generating industries.
Process Automation Market Companies
The major global players include ABB, Emerson Electric Co., Honeywell International Inc., Johnson Controls, Mitsubishi Corporation, Siemens AG, Robert Bosch GmBH, Rockwell Automation, Inc., ServiceNow, and Dassault Systèmes.
Key Developments
• On December 14, 2022, Emerson Electric Co. disclosed that it made a strategic investment in ZEBEDA, a business that specializes in automation and industrial edge management solutions. It is anticipated that the investment will accelerate the development of new automation technologies.
• On June 27, 2022, Honeywell International Inc. and Anchorage Investments signed a memorandum of understanding (MoU) to implement industrial process automation systems at the Anchor Benitoite Petrochemicals Complex in Egypt's Suez Economic Zone.
• On August 18, 2022, Honeywell International Inc. announced that it opened an industrial automation lab in partnership with the Department of Automation and Computer Science at University Politehnica of Bucharest. University students will be able to practise using the most recent industrial automation technology in the lab.
Why Purchase the Report?
• To visualize the global process automation- market segmentation based on technology, type, communication protocol, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of process automation market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global process automation market report would provide approximately 69 tables, 72 figures and 212 pages.
Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
Process automation is the use of software and technologies to automate corporate operations and tasks to achieve specific organizational objectives, such as the creation of a product, the recruitment and onboarding of personnel or the provision of customer care.
The improvement in productivity that results from delegating tedious activities to machines that can work longer and faster than people is one of the process automation's most visible benefits.
Process Automation Market Growth
Increasing consumer awareness about benefits of process automation
Process automation lowers labor costs and wasteful time, both of which result in cost savings. Robotic process automation (RPA) robots collect and provide reports that are essential for fresh business concepts while reducing the possibility of human error. Additionally, it helps to cut down on paper-based processes, which enhances work accuracy. The benefits help fuel an increase in demand for process automation across a range of industries.
High implementation and maintenance costs
To establish solutions like DCS at an industrial site, a number of processes must be finished, including systems implementation, process operation, data collecting and consulting. As a result, overall costs rise, increasing the plant owner's operating expenses. Furthermore, automation software programs constantly need to be updated due to ongoing technological breakthroughs. Small enterprises are unable to afford to pay these expenses. Due to the high capital costs associated with system installation, maintenance and upgrades, the market's potential growth is relatively constrained.
Process Automation Market Segmentation Analysis
The global process automation market is segmented based on technology, type, communication protocol, end-user and region.
The rising adoption of new technologies in oil and gas
In terms of end users, oil and gas hold a large market share. The exploration, extraction, production, processing, transportation and marketing of crude oil and natural gas are all part of the oil and gas sector. The sector is essential to the world economy since it provides the main source of energy for heating, electrical production and transportation. To increase productivity, lower costs and have a minimal negative impact on the environment, the industry develops and uses new technologies.
Drilling rigs, pumps and valves, among other pieces of machinery, function best when their performance is optimized through the use of process automation in exploration and production. While controllers are used to modify the process based on the data obtained from the sensors, sensors are used to monitor a variety of factors, including pressure, temperature and flow rate.
Global Process Automation Market Geographical Share
The adoption of process automation in Europe to reduce costs
Process automation is a fast-expanding industry in Europe, where businesses are implementing automation technologies to improve productivity, cut costs and streamline processes. Industrial automation, which involves automating production and manufacturing processes, is a prominent area of concentration in the region for process automation. Robotics, sensors and other cutting-edge technology may be used to streamline processes and raise product quality.
Additionally, the region is home to a number of important players and numerous businesses are investing there as a result of the region's significant investment in adopting modern technology and the high demand for that technology from end users in the oil and gas, chemical and power generating industries.
Process Automation Market Companies
The major global players include ABB, Emerson Electric Co., Honeywell International Inc., Johnson Controls, Mitsubishi Corporation, Siemens AG, Robert Bosch GmBH, Rockwell Automation, Inc., ServiceNow, and Dassault Systèmes.
Key Developments
• On December 14, 2022, Emerson Electric Co. disclosed that it made a strategic investment in ZEBEDA, a business that specializes in automation and industrial edge management solutions. It is anticipated that the investment will accelerate the development of new automation technologies.
• On June 27, 2022, Honeywell International Inc. and Anchorage Investments signed a memorandum of understanding (MoU) to implement industrial process automation systems at the Anchor Benitoite Petrochemicals Complex in Egypt's Suez Economic Zone.
• On August 18, 2022, Honeywell International Inc. announced that it opened an industrial automation lab in partnership with the Department of Automation and Computer Science at University Politehnica of Bucharest. University students will be able to practise using the most recent industrial automation technology in the lab.
Why Purchase the Report?
• To visualize the global process automation- market segmentation based on technology, type, communication protocol, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of process automation market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global process automation market report would provide approximately 69 tables, 72 figures and 212 pages.
Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
Table of Contents
254 Pages
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Market Snippet By Technology
- 3.2. Market Snippet By Type
- 3.3. Market Snippet By Communication Protocol
- 3.4. Market Snippet By End-User
- 3.5. Market Snippet By Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Increasing consumers awareness of benefits of process automation
- 4.1.1.2. The growing focus on reducing cost and improving efficiency
- 4.1.2. Restraints
- 4.1.2.1. High implementation and maintenance costs
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Technology
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 7.1.2. Market Attractiveness Index, By Technology
- 7.2. PLC*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. SCADA
- 7.4. DCS
- 7.5. Others
- 8. By Type
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 8.1.2. Market Attractiveness Index, By Type
- 8.2. Software*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Hardware
- 8.4. Service
- 9. By Communication Protocol
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Communication Protocol
- 9.1.2. Market Attractiveness Index, By Communication Protocol
- 9.2. Wireless Protocol*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Wired Protocol
- 10. By End-User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
- 10.2. Pharmaceutical*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Food and Beverages
- 10.4. Paper and Pulp
- 10.5. Chemicals
- 10.6. Water and Wastewater Treatment
- 10.7. Energy and Utilities
- 10.8. Oil and Gas
- 10.9. Others
- 11. By Region
- 11.1. Introduction
- 11.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.3. Market Attractiveness Index, By Region
- 11.4. North America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Communication Protocol
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. The U.S.
- 11.4.7.2. Canada
- 11.4.7.3. Mexico
- 11.5. Europe
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Communication Protocol
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. Germany
- 11.5.7.2. The U.K.
- 11.5.7.3. France
- 11.5.7.4. Italy
- 11.5.7.5. Spain
- 11.5.7.6. Rest of Europe
- 11.6. South America
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Communication Protocol
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.6.7.1. Brazil
- 11.6.7.2. Argentina
- 11.6.7.3. Rest of South America
- 11.7. Asia-Pacific
- 11.7.1. Introduction
- 11.7.2. Key Region-Specific Dynamics
- 11.7.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.7.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.7.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Communication Protocol
- 11.7.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.7.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.7.7.1. China
- 11.7.7.2. India
- 11.7.7.3. Japan
- 11.7.7.4. Australia
- 11.7.7.5. Rest of Asia-Pacific
- 11.8. Middle East and Africa
- 11.8.1. Introduction
- 11.8.2. Key Region-Specific Dynamics
- 11.8.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.8.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.8.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Communication Protocol
- 11.8.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Company Profiles
- 13.1. ABB
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Key Highlights
- 13.1.4. Financial Overview
- 13.2. Emerson Electric Co.
- 13.3. Honeywell International Inc.
- 13.4. Johnson Controls
- 13.5. Mitsubishi Corporation
- 13.6. Siemens AG
- 13.7. Robert Bosch GmBH
- 13.8. Rockwell Automation, Inc.
- 13.9. Dassault Systèmes
- 13.10. ServiceNow(*LIST NOT EXHAUSTIVE)
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
Pricing
Currency Rates
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