According to the new market research report "Process Automation and Instrumentation Market by Types (Hardware, Software, Service), Technology (SCADA, PLC, DCS, MES), Application (Chemical, Oil & Gas, Solar, Metal, Water & Waste, Energy, Food, Automotive and Geography - Analysis & Global Forecasts to 2013 - 2020", published by MarketsandMarkets, the Process Automation and Instrumentation Market is projected to cross $180.26 Billion by 2020, growing at a CAGR of 6.08% from 2014 to 2020.
The last decade witnessed a well-paced transformation in the process automation and instrumentation market.
The difficulties identified in Process Automation And Instrumentation Market like cost of operation, migration, reliability, open connectivity, energy efficiency, visualization brought into market new types of automation technologies, hardware's, software's and services.
The characteristics and features of process automation and instrumentation like real-time process monitoring, continuous improvement, standardisation of maintenance procedure, and maximisation of production efficiency are serving to incorporate in different application verticals. Key automation technologies like SCADA, PLC, DCS, MES has been introduced in the market.
The Process Automation and Instrumentation Market is segmented into four categories that include technology, types, application, and geography. This report divides the overall market into four main geographical segments, namely, Americas, Europe, APAC, and ROW. The Americas region currently contributes highest in the market growth as compared to the other regions.
The leading companies in the Process Automation And Instrumentation Market covered in the report are ABB Ltd. (Switzerland), Danaher Corporation (U.S.), Emerson Electric Company (U.S.), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Omron Corporation (Japan), Rockwell Automation Inc. (U.S.), Schneider Electric SA (France), Siemens AG (Germany) and Yokogawa Electric Corporation (Japan).
