DUBLIN--(BUSINESS WIRE)--The "Process Automation and Instrumentation Market - Forecasts from 2017 to 2022" report has been added to Research and Markets' offering.
The Process Automation and Instrumentation Market is projected to expand at a CAGR of 5.27% to grow to US$128.769 billion by 2022, from US$99.611 billion in 2017.
Growing adoption of automation across various end-use industries due to rising production costs and stringent regulations regarding workers' safety in the hazardous working environment is one of the major drivers of global process automation and instrumentation market. Rising need for energy-efficient processes to minimize the material wastage is further driving the demand for these solutions. Growing need for software solutions for detection and reduction of failures along with the technological advancement will bolster the global process automation and instrumentation market growth over the next five years.
The process automation and instrumentation market is highly competitive owing to the installation of automation process across various end-use industries. Regional vendors are trying to maintain competitiveness in the market by providing free access to aftersales services for a year post installation and commissioning. Increasing investment in R&D, new product developments, and M&A by key market players will further enhance the industry competitiveness in the near future. Recently in 2017, ABB acquired Bernecker & Rainer, the Australian industrial automation company, to expand its product portfolio while challenging its rival company Siemens on the factory floor.
- Honeywell International
- Mitsubishi Electric Corporation
- Siemens AG
- Endress+Hauser AG
- Pepperl+Fuchs GmbH
- HollySys Automation Technologies
- Rockwell Automation
- Emerson Electric Company
- Schneider Electric
- Yokogawa Electric Corporation
- General Electric
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Process Automation and Instrumentation Market Forecast by Process Type (US$ Billion)
6. Process Automation and Instrumentation Market Forecast by Product (US$ Billion)
7. Process Automation and Instrumentation Market Forecast by Solution (US$ Billion)
8. Process Automation and Instrumentation Market Forecast by End-User Industry (US$ Billion)
9. Process Automation and Instrumentation Market Forecast by Geography (US$ Billion)
10. Competitive Intelligence
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/kzlpvx/process