The global process automation and instrumentation market is being driven by several aspects in the market. Some of them are rising presence of process industries that which need process automation and instrumentation, rising focus on automation with a view to increase speed, quality and overall productivity and reduce errors, rising oil and refineries industry, significant demand for automation in the chemical industry, competitive environment prevalent in various regions, rising awareness towards digitalization and technological innovation, rising ethernet and internet technologies in control systems on mining and oil and gas plants, the increasing urge to maintain safety standards, rising demand for process automation in the utilities sector and rising awareness of digitizing oil and gas platforms.
The global process automation and instrumentation market research report has profiled several key players involved in the market. Few of them are ABB Limited, Endress+Hauser Management AG, Emerson Electric Company, Mitsubishi Electric Company, Rockwell Automation Inc., Siemens AG, Pepperl+Fuchs GmbH, HollySys Automation Technologies Ltd., Schneider Electric SE, Honeywell International Inc., Yokogawa Electric Corporation, R. STAHL AG, Bosch Group, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Oxford Instruments Plc., Forbes Marshall Pvt. Ltd., Parker Hannifin Corp. and Danaher Corp.
Valuable insights on the global scenario of process automation and instrumentation have been put forth in a structured order based on a recently carried out research on process automation and instrumentation market. Future Market Insights in its new publication titled “Process Automation and Instrumentation Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” has covered several key players, trends, growth drivers, opportunities, developments and restraints across several key geographies of North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Latin America, Japan and Middle East and Africa (MEA).
On the basis of a systematic research process and a detailed market segmentation, current and future projections up to ten years, from 2017 to 2027,with respect to value are drawn to deliver valuable acumen about the global market scenario.
The global process automation and instrumentation market is anticipated to grow at a significant growth rate throughout the period of forecast of 2017-2027. The global process automation market and the global process instrumentation market collectively are estimated to reach a value of about US$ 174 Bn by the end of 2027.
The global process automation market is expected to witness robust growth during the assessment period and is poised to register a CAGR of 6.0% throughout the 2017-2027 period. By the end of 2027, the global market for process automation is estimated to be valued at about US$ 153.6 Bn from a value of US$ 85.5 Bn in 2017. The global process instrumentation market is projected to grow at a CAGR of 5.8% during the 2017-2027 assessment period. By the end of 2027, the process instrumentation market is estimated to reach a market evaluation of about US$ 20.5 Bn.
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