DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Process Automation And 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 forecast period for the market study is 2017 to 2024 and the base year considered for the study is 2016. 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.
Rockwell automation Inc., Siemens AG, Danaher corporation, Honeywell international Inc., Mitsubishi electric corporation, Schneider electric, Emerson electric company, Texas instruments, General electric corporation (GE) are dominant players in the global Process automation and Instrumentation market.
- 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 Globally
- Need For Software To Detect And Reduce Failures
- Lack Of Skilled Workforce
- Sluggish Growth In Developed Markets: A Cause Of Unrest Among The Western Suppliers
- Security Risks
- Integration With Existing Systems
- Building In Security In Information Management
- Managing Data For A Complete Picture
- Increasing Reliability And Demand
- Upgradation Of Industries And Developing Countries
- 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/zrbt9j/global_process