The global process automation and instrumentation market is expected to be valued at USD 74.2 billion in 2024 and is projected to reach USD 98.6 billion by 2029 and grow at a CAGR of 5.9%. The growth of this market is driven by the increasing demand for operational efficiency and the adoption of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning across various industries.
These leading companies possess a wide portfolio of products and solutions, establishing a prominent presence in established as well as emerging markets. The study provides a detailed competitive analysis of these key players in the process automation & instrumentation market, presenting their company profiles, most recent developments, and key market strategies.
Energy & Power industry is expected to hold significant market share during the forecast period
The energy and power industry is set to gain a significant market share in the process automation and instrumentation market due to the increasing importance of efficiency, safety and reliability. With increasing global energy demand, companies are increasingly adopting automation technologies to improve production efficiency, reduce costs and increase safety. Automation solutions such as distributed control systems (DCS) and supervisory control data acquisition systems (SCADA) enable real-time monitoring and enhance response time and system stability. Advanced analysis and predictive maintenance further lowers operating time and preventing mechanical malfunctions. Companies’ focus on digital transformation and regulatory compliance is driving automation adoption, ensuring a strong market presence and commitment to innovation and operational excellence.Process Analyzer segment is expected to witness highest CAGR during the forecast period.
Process analyzers are expected to hold the highest CAGR rate in the process automation and instrumentation market. This growth is due to the key role played in technical quality and operational efficiency. Demand for precision analytics tools has increased as companies focus on improving processes and complying with stringent regulations. Process analyzers provide real-time data on parameters such as composition and concentration, enabling instant adjustments in production. This is especially important in industries such as oil and gas, chemicals and pharmaceuticals. The adoption of digital technologies such as the Industrial Internet of Things (IIoT) and advanced analytics makes process analyzers even more efficient, facilitating predictive maintenance and better decision making. As companies prioritize automation to increase efficiency and reduced costs can increase substantially, which highlights their increasing importance in modern industrial applications.HMI to witness highest CAGR for the solution segment during the forecast period.
The human-machine interface (HMI) segment is expected to have the highest compound annual growth rate (CAGR) in the process automation market, driven by its increasing adoption across industries. Real-time data visualization and control capabilities enable operators to communicate effectively with the systems. The increasing demand for flexible and user-friendly applications, especially in industries such as manufacturing, oil and gas, and pharmaceuticals, has led to advanced HMIs. Furthermore, integrating HMIs with other manufacturing technologies, such as the Industrial Internet of Things (IIoT), enhances their efficiency and makes them an important component in the automation of complex industrial processes of the industry as companies prioritize efficiency, safety and compliance. Demand will continue to grow rapidly, contributing to their highest CAGR in the process automation and equipment market.North America is likely to hold prominent market share in 2024.
The process automation & instrumentation market in the North America is categorized further into US, Canada, and Mexico. The Americas dominates the process automation & instrumentation market due to its technological leadership, supportive government policies, diverse market opportunities, and active research and development. Several other factors have contributed to this growth, such as increasing demand for automation in key industries such as food and beverage, automotive, pharmaceutical and aviation, where efficiency and cost reduction are key components. North America’s early adoption of digital technologies such as AI and big data analytics is well positioned to leverage these advances for further advancements in the process automation and equipment landscape.Breakdown of primaries
A variety of executives from key organizations operating in the process automation & instrumentation market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.- By Company Type: Tier 1 - 45%, Tier 2 - 35%, and Tier 3 - 20%
- By Designation: C-level Executives - 40%, Directors - 45%, and others - 15%
- By Region: North America - 29%, Europe - 27%, Asia Pacific - 36%, and RoW - 8%
These leading companies possess a wide portfolio of products and solutions, establishing a prominent presence in established as well as emerging markets. The study provides a detailed competitive analysis of these key players in the process automation & instrumentation market, presenting their company profiles, most recent developments, and key market strategies.
Research Coverage
In this report, the process automation and instrumentation market has been segmented based on instrument, solution, industry, and region. The process automation and instrumentation market based on instrument has been segmented into field instruments and process analyzers. Based on solution, the market is segmented into PLC, DCS, SCADA, HMI, functional safety, and MES. Based on industry, the market has been segmented into oil & gas, chemicals, pulp & paper, pharmaceuticals, metals & mining, food & beverages, energy & power, water & wastewater treatment, and others.The study also forecasts the size of the market in four main regions - North America, Europe, APAC, and RoW.Reasons to buy the report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the process automation & instrumentation market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.Key Benefits of Buying the Report
- Analysis of key drivers (I, Growing need for efficient utilization of resources, Rising trend of connected enterprises in process industries, ncreasing focus of manufacturing firms on achieving cost saving and better efficiency, Growth in emerging economies),restraints (High implementation and maintenance costs associated with process automation, Regulatory Compliance and Standards, Limited product differentiation), opportunities (Surging demand for safety automation systems across process industries, Growing adoption of Industry 4.0 by manufacturing firms, Rising need for efficient multivariable pressure transmitter, Increasing adoption of lloT across industries, Rise of Cloud-based Solutions), and challenges (Cyber attacks and security threats, Shortage of skilled personnel to operate sophisticated automation system, Integration with existing systems and infrastructure) influencing the growth of the process automation & instrumentation market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the process automation & instrumentation market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the process automation & instrumentation market across varied regions.
- Market Diversification: Exhaustive information about new products/services, untapped geographies, recent developments, and investments in the process automation & instrumentation market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ABB (Switzerland), Emerson Electric Co. (US), Siemens (Germany), General Electric Company (US), and Schneider Electric (France), and others.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Process Automation and Instrumentation Market, by Instrument
7 Process Automation and Instrumentation Market, by Solution
8 Process Automation and Instrumentation Market, by Industry
9 Process Automation and Instrumentation Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent Market
13 Appendix
List of Tables
List of Figures
Companies Mentioned
- ABB
- Emerson Electric Co.
- Siemens
- Schneider Electric
- Honeywell International Inc.
- GE Vernova
- Rockwell Automation
- Yokogawa Electric Corporation
- Mitsubishi Electric Corporation
- Endress+Hauser Group Services AG
- Omron Corporation
- Thermo Fisher Scientific Inc.
- Fuji Electric Co. Ltd.
- Hitachi, Ltd.
- Delta Electronics, Inc.
- Hollysys Group Beijing
- Wika Alexander Wiegand SE & Co. KG
- Azbil Corporation
- Xylem
- Hach
- Shimadzu Corporation
- Hima
- Ametek.Inc.
- Christian Bürkert GmbH & Co. KG
- Krohne
- Dwyer Instruments, LLC.
- Andritz
- Valmet
- Sprecher Automation GmbH
- Inductive Automation, LLC.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 339 |
Published | August 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 74.2 Billion |
Forecasted Market Value ( USD | $ 98.6 Billion |
Compound Annual Growth Rate | 5.9% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |