Global Process Automation & Instrumentation Market By Instrument (Field Instrument, Control Valve and Analytical Instrument), By Solution (Distributed & Advanced Control System, PLC & SCADA, Functional Safety, Human Machine Interface and Others), By End User (Chemical, Energy & Power, Oil & Gas, Food & Beverages, Pharmaceuticals, Metals & Mining and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
The Global Process Automation & Instrumentation Market size is expected to reach $80.5 billion by 2026, rising at a market growth of 3% CAGR during the forecast period. This market's growth is propelled by factors such as the increasing value of energy conservation and cost reduction, focus on digitized technology such as IIoT, increased acceptance of industrial automation and maximum resource use.
Automation can be described as the smooth and efficient implementation of tasks utilizing automated machinery and computers. Automation can be split loosely into three output-based forms, viz. Mass or flow, versatile and batch, or work automation. If the design is not versatile, and the output is high, then it is categorized as mass and flow. If the performance is low, and the process takes place in different batches, it is called batch automation. Unless the production is low, and the design varies according to the requirements of the company, then the classification is called flexible or job.
Instrumentation applies to the instruments used for detection, calculation, regulation, and tracking purposes. Throughout the modern years, different forms of automation have been created such as IT, Flexible Manufacturing Systems (FMS), Computer Aided Manufacturing (CAM), Robotics, Computer Integrated Manufacturing (CIM) and Numerically Controlled (NC) equipment and tools.
Automation and instrumentation complement each other as devices are to be used for the purpose of automation. The need for efficiency increases through sectors has driven businesses to embrace automation in order to achieve a competitive edge over other competitors. High-risk job environments that need unique and reasonable treatment result in unnecessary human labour. Lower labour costs are therefore expected to perform a positive role in assisting the worldwide demand for automation instrumentation throughout the forecast period. Increasing labour costs have driven businesses to introduce automation with a view to streamlining their manufacturing processes and growing their dependence on expensive human labour.
Based on Instrument, the market is segmented into Field Instrument, Control Valve and Analytical Instrument. Based on Solution, the market is segmented into Distributed & Advanced Control System, PLC & SCADA, Functional Safety, Human Machine Interface and Others. Based on End User, the market is segmented into Chemical, Energy & Power, Oil & Gas, Food & Beverages, Pharmaceuticals, Metals & Mining and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Mitsubishi Electric Corporation, ABB Group, Schneider Electric SE, Emerson Electric Co., Siemens AG, and Honeywell International, Inc. are the forerunners in the Process Automation and Instrumentation Market. Companies such as Rockwell Automation, Inc., General Electric (GE) Co., Yokogawa Electric Corporation, and HollySys Automation Technologies Ltd. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Emerson Electric Co., Schneider Electric SE, Honeywell International, Inc., General Electric (GE) Co., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Yokogawa Electric Corporation, and HollySys Automation Technologies Ltd.
Recent strategies deployed in Process Automation and Instrumentation Market
Partnerships, Collaborations, and Agreements:
Mar-2020: Yokogawa Turkey Industrial Automation Solutions A.S. (Yokogawa Turkey) signed an agreement with Renaissance Heavy Industries. Following this agreement, the former company aims to provide a control system and field instruments for Zerger gas-fired power plant in Turkmenistan.
Jan-2020: Schneider Electric came into partnership with AutoGrid, the market leader in flexibility management software for the energy industry. The partnership was focused on helping energy providers integrate customer-owned or -operated flexible distributed energy resources (DERs) into their distribution management operations. The joint solution, integrating Schneider EcoStruxure Advanced Distribution Management System (ADMS) with AutoGrid Flex, the energy industry’s first fully-integrated flexibility management application, uses the open standard IEEE 2030.5 to exchange data and control signals.
Jul-2019: General Electric teamed up with Schneider Electric for establishing 4 power control systems in Egypt for implementation of the control system and communication network to improve the operational efficiency.
May-2019: Siemens signed an agreement with HafslundNett, a company that distributes, generates, and supplies the electricity. Under this agreement, the former company was aimed to supply a new Advanced Distribution Management System, which provides a power control system in Norway.
Mar-2019: Rockwell Automation came into collaboration with GE Healthcare. Following this collaboration, the companies integrated their automation, IT, and single-use solution expertise to build bioprocessing operations for the digital age. The two companies aimed to help biopharmaceutical companies create flexible and scalable facilities of the future, focused on rapid response to market demands, streamlined production technologies, and adaptable manufacturing environments. GE Healthcare has also joined the Rockwell Automation Partner Network Program as an OEM Partner to help drive a best-in-class distributed control system offering.
Acquisition and Mergers:
Oct-2019: Rockwell Automation acquired MESTECH Services. Following the acquisition, MESTECH has been leveraging Rockwell’s products and solutions in the areas of the process, control, and power information solutions.
Jul-2019: Emerson took over Zedi’s software and automation businesses. The addition of Zedi’s cloud supervisory control and data acquisition (SCADA) platform enabled Emerson to help oil and gas producers increase production and lower operating costs through cloud-based monitoring, control, and optimization.
May-2019: Mitsubishi Electric acquired ICONICS, Inc., an industrial automation provider. The acquisition strengthened Mitsubishi’s software portfolio and technology for the manufacturing, industrial, and building automation markets.
Feb-2019: Emerson took over Intelligent Platforms from General Electric. The acquisition enhanced its automation for industrial and process customers for increasing its capabilities in machine control.
Jan-2019: Rockwell Automation took over Emulate3D, an innovative software engineering developer. The acquisition helped Rockwell in improving its system planning and decision making.
Jul-2018: ABB acquired GE Industrial Solutions from General Electric. The acquisition strengthened its position in the electrification market in the U.S.
May-2018: Schneider Electric took over Larsen & Toubro (L&T) electric and automation (E&A) business. The acquisition broadened Schneider Electric's business.
Mar-2018: Schneider Electric's Industrial Software business merged with AVEVA. The combined unit has been providing software to transform cost efficiency, safety and compliance, schedule, quality, and safety of the asset delivery processes.
Product Launches and Product Expansions:
Jul-2020: Rockwell Automation released the new SIL 3 Safety Controller Line with Advanced Software Capabilities. The new Allen-Bradley Compact GuardLogix 5380 SIL 3 enabled engineers to scale applications up to and including SIL 3/PLe performance with 1oo2 architecture. The controllers have been designed for helping companies build smarter, simpler, and better-performing machines.
Jul-2020: HollySys unveiled the updated version large scale Programmable Logic Controller (PLC). This new version can be widely used in a variety of applications such as the high-end machinery and equipment control, complex machine control, discrete manufacturing plant control, suitable for transportation, municipal services, water treatment, and public engineering.
Feb-2020: ABB Power Grids launched MicroSCADA X, the industry-acclaimed power and automation control solution, to customers in India. MicroSCADA X features a next-generation human-machine interface (HMI) enabling an intuitive and adaptive experience that provides clear and simplified insights into customers’ power infrastructure. The solution offers a world-class, versatile supervisory control and data acquisition (SCADA) system with market-leading functionalities integrated into a single platform.
Feb-2020: Honeywell launched Experion PKS IT Highly Integrated Virtual Environment (HIVE), a transformative new technology. This technology enabled industrial manufacturers to lower project delivery and lifecycle costs, better leverage skills, and drive consistent physical and cybersecurity management.
Jan-2020: Yokogawa Electric launched the Exaquantum R3.20, an enhanced version of its plant information management system (PIMS) software package in the OpreX Asset Operations and Optimisation family. Exaquantum supports the digital transformation initiatives of customers in the process industries by gathering large volumes of plant data and transforming it into usable, high-value business information.
Nov-2019: Schneider Electric unveiled the newest generation of its intelligent enclosures for EcoStruxure Triconex safety and EcoStruxure Foxboro distributed control systems (DCSs). This new intelligent enclosure line includes EcoStruxure Triconex safety field mounted intelligent enclosure and Foxboro DCS field mounted intelligent enclosure. These enclosures have been designed for use outdoors (including hazardous areas) for distribution of I/O where and when required.
Nov-2019: Mitsubishi Electric announced the launch of the FX5UC series Premium Micro PLC, the smallest and most powerful compact programmable logic controller. The new PLC diminutive size helps machine builders and manufacturers pack “ever more functionality into a smaller space”, while also providing the web access and network connectivity demanded by the latest smart factory applications.
Sep-2019: GE Digital introduced Plant Applications 8.0, industry’s first multi-modal Manufacturing Execution System (MES). Plant Applications 8.0 helps manufacturers leverage real-time production data to optimize operations and is the first enterprise-scale MES that supports the discrete, process and multi-modal manufacturing.
Jun-2019: ABB introduced a DC-based power distribution system, Onboard Microgrid. The system was aimed to help the smaller vessels in improving fuel efficiency.
Apr-2019: Honeywell released next-generation Kromschröder BCU 4 Series, all-in-one control system for multi-burner applications. This series provides the effectiveness and utility of the control systems.
Feb-2020: Yokogawa opened the Open Process Automation (OPA) Test Bed Collaboration Center, located six miles north of ExxonMobil’s Houston campus in The Woodlands, Texas. The center has the Test Bed being used for evaluating candidate components and standards that provide the basis for moving OPA technology into initial industrial field trials.
Mar-2019: Yokogawa expanded its reach to Norway by establishing a new subsidiary. The subsidiary has been focused on selling control products and the provision of related services.
Scope of the Study
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