North America Process Automation & Instrumentation Market Forecast 2017-2024 - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "North America Process Automation & Instrumentation Market Forecast 2017-2024" report to their offering.

The market for global process automation & instrumentation is projected to grow at a CAGR of 5.37% during the forecast period of 2017-2024. The technological advancements and innovations in the field of robotics are one of the dominant drivers for the growth of process automation and instrumentation market.

The advancing labor costs and a decrease in the price of automation solutions, the need for energy efficient production processes due to rise in demand for gas and oil on a global scale and the need for software that aids detection and reduction of failures are some of the dominant drivers for the growth of process automation and instrumentation market. Inversely the factors those restraints the market growth are slow growth in developed markets, security risks and lack of skilled workforce.

Market Dynamics

Drivers

  • Escalating Labor Cost & Decreasing The Price Of Automation Solutions
  • Inclination Of Growth Towards Manufacturing Sector
  • Need For Energy-Efficient Production Processes Due To Rising Demand For Oil & Gas In North America
  • Need For Software To Detect And Reduce Failures

Restraints

  • Lack Of Skilled Workforce
  • Sluggish Growth In Developed Markets: A Cause Of Unrest Among The Western Suppliers
  • Security Risks

Challenges

  • Integration With Existing Systems
  • Building In Security In Information Management
  • Managing Data For A Complete Picture

Opportunities

  • Increasing Reliability And Demand
  • Upgradation Of Industries And Developing Countries

Company Profiles

  • ABB Ltd.
  • Honeywell International Inc.
  • Siemens AG
  • Schneider Electric
  • Mitsubishi Electric Corporation
  • Rockwell Automation Inc
  • Emerson Electric Company
  • Danaher Corporation
  • Texas Instruments
  • General Electric Corporation (GE)

For more information about this report visit http://www.researchandmarkets.com/research/25nztf/north_america

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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For GMT Office Hours Call +353-1-416-8900
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Fax (outside U.S.): +353-1-481-1716
Related Topics: Industrial Automation

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Industrial Automation