Global Process Automation And Instrumentation Market 2022-2026
Technavio has been monitoring the process automation and instrumentation market and it is poised to grow by $28.57 bn during 2022-2026, accelerating at a CAGR of 5.75% during the forecast period. Our report on the process automation and instrumentation market provides a holistic analysis, of market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by simplification of manufacturing through automation, shift toward lean manufacturing and the need for efficient use of resources and reduction of emissions.
The process automation and instrumentation market analysis includes type segment and geographic landscape.
Technavio's process automation and instrumentation market are segmented as below:
- Process automation
- Process instrumentation
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the shift from on-premises to cloud-based systems as one of the prime reasons driving the process automation and instrumentation market growth during the next few years. Also, the virtualization of process automation control systems and the growing importance of big data analytics and IoT will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the process automation and instrumentation market covers the following areas:
- Process automation and instrumentation market sizing
- Process automation and instrumentation market forecast
- Process automation and instrumentation market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading process automation and instrumentation market vendors that include ABB Ltd., Delta Electronics Inc., Emerson Electric Co., Endress Hauser Group Services AG, Fuji Electric Co. Ltd., General Electric Co, Hitachi Ltd., Honeywell International Inc., Metso Outotec Corp., Mitsubishi Electric Corp., OMRON Corp., Pepperl and Fuchs SE, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Thermo Fisher Scientific Inc., and Yokogawa Electric Corp. Also, the process automation and instrumentation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.