According to the report, the global process automation and instrumentation market is projected to grow at a CAGR of 6.4% between 2024 and 2032 reaching a value of approximate USD 115.77 billion by 2032. Aided by the rapid integration of smart technologies in manufacturing sectors and the evolving necessity of businesses to enhance operational efficiency, the market is expected to grow significantly by 2032.
Process automation and instrumentation encapsulate a broad array of technologies and tools designed to control, monitor, and optimise industrial processes. Essential in sectors ranging from petrochemicals to pharmaceuticals, these tools help companies maintain product quality, improve consistency, and reduce potential risks. As industries edge closer to the Fourth Industrial Revolution or Industry 4.0, the significance of automation and instrumentation becomes even more pronounced.
Driving the global process automation and instrumentation market growth is the burgeoning emphasis on real-time data analysis and industrial IoT (Internet of Things). As more devices and processes get interconnected, the need for advanced instruments to monitor and control these processes escalates. With data now considered an enterprise's lifeblood, organisations are ardently seeking solutions that provide real-time metrics, allowing them to make informed decisions instantaneously.
The surge in industrial digitisation further propels the demand for process automation. The influx of digital technologies such as cloud computing, artificial intelligence, and advanced analytics into the manufacturing domain has mandated the requisite of automated instruments for streamlined operations. Moreover, the increasing need to reduce human intervention, especially in repetitive and mundane tasks, has given a considerable boost to automation initiatives.
In tandem with these drivers, sustainability and environmental concerns also influence the process automation and instrumentation market outlook. With stricter regulatory norms emerging globally, industries are compelled to ensure reduced emissions and waste. Automated processes, with their precision and consistency, are vital in achieving these green goals, making them an integral part of modern industrial setups.
Furthermore, the pharmaceutical sector is emerging as a significant sector generating the process automation and instrumentation market demand. Given the critical nature of drug development and production, where even minute inconsistencies can lead to substantial repercussions, automation plays a pivotal role. Instrumentation ensures that drug formulations remain consistent, equipment stays sterilised, and environments remain uncontaminated, thereby enhancing overall productivity and safety.
Process automation and instrumentation encapsulate a broad array of technologies and tools designed to control, monitor, and optimise industrial processes. Essential in sectors ranging from petrochemicals to pharmaceuticals, these tools help companies maintain product quality, improve consistency, and reduce potential risks. As industries edge closer to the Fourth Industrial Revolution or Industry 4.0, the significance of automation and instrumentation becomes even more pronounced.
Driving the global process automation and instrumentation market growth is the burgeoning emphasis on real-time data analysis and industrial IoT (Internet of Things). As more devices and processes get interconnected, the need for advanced instruments to monitor and control these processes escalates. With data now considered an enterprise's lifeblood, organisations are ardently seeking solutions that provide real-time metrics, allowing them to make informed decisions instantaneously.
The surge in industrial digitisation further propels the demand for process automation. The influx of digital technologies such as cloud computing, artificial intelligence, and advanced analytics into the manufacturing domain has mandated the requisite of automated instruments for streamlined operations. Moreover, the increasing need to reduce human intervention, especially in repetitive and mundane tasks, has given a considerable boost to automation initiatives.
In tandem with these drivers, sustainability and environmental concerns also influence the process automation and instrumentation market outlook. With stricter regulatory norms emerging globally, industries are compelled to ensure reduced emissions and waste. Automated processes, with their precision and consistency, are vital in achieving these green goals, making them an integral part of modern industrial setups.
Furthermore, the pharmaceutical sector is emerging as a significant sector generating the process automation and instrumentation market demand. Given the critical nature of drug development and production, where even minute inconsistencies can lead to substantial repercussions, automation plays a pivotal role. Instrumentation ensures that drug formulations remain consistent, equipment stays sterilised, and environments remain uncontaminated, thereby enhancing overall productivity and safety.
Market Segmentation
The market can be divided based on instrument, solution, industry, and region.Market Breakup by Instrument
- Field Instrument
- Pressure Transmitter
- Temperature Transmitter
- Level Transmitter
- Humidity Transmitter
- Vibration Level Switch
- Control Valve
- Valve Body
- Actuator
- Others
- Analytical Instrument
- Ph Analyzer
- Conductivity Analyzer
- Gas Chromatograph
- Liquid Chromatograph
Market Breakup by Solution
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- SCADA
- Human Machine Interface (HMI)
- Safety Automation
- Emergency Shutdown System (ESD)
- Fire and Gas Monitoring & Control (F&G)
- High Integrity Pressure Protection System (HIPPS)
- Burner Management System (BMS)
- Turbomachinery Control (TMC)
- Advanced Process Control (APC)
- Manufacturing Execution System (MES)
Market Breakup by Industry
- Chemicals
- Energy and Power
- Food and Beverages
- Metal and Mining
- Oil and Gas
- Pharmaceuticals
- Pulp and Paper
- Water and Wastewater
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global process automation and instrumentation market. Some of the major players explored in the report are as follows:- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- Schneider Electric SE
- Rockwell Automation, Inc.
- General Electric Company
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Process Automation and Instrumentation Market Analysis
9 North America Process Automation and Instrumentation Market Analysis
10 Europe Process Automation and Instrumentation Market Analysis
11 Asia Pacific Process Automation and Instrumentation Market Analysis
12 Latin America Process Automation and Instrumentation Market Analysis
13 Middle East and Africa Process Automation and Instrumentation Market Analysis
14 Market Dynamics
16 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- ABB Ltd. (SWX: ABBN)
- Emerson Electric Co. (NYSE: EMR)
- Honeywell International Inc. (NYSE: HON)
- Siemens AG (ETR: SIE)
- Schneider Electric SE (EPA: SU)
- Rockwell Automation Inc. (NYSE: ROK)
- General Electric Company (NYSE: GE)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 198 |
| Published | November 2023 |
| Forecast Period | 2024 - 2032 |
| Estimated Market Value ( USD | $ 70.48 Billion |
| Forecasted Market Value ( USD | $ 115.77 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
