DUBLIN--(BUSINESS WIRE)--The "Field Device Management - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Field Device Management market accounted for $1.20 billion in 2018 and is expected to reach $2.39 billion by 2027 growing at a CAGR of 7.9% during the forecast period. Some of the key factors influencing market growth include rising importance of Industry 4.0 and smart factory, surging need for FDM systems, and increasing investments for the development of FDM solutions by automation companies. However, the dearth of skilled workforce is restricting market growth.
Field device management or FDM is a versatile, accessible, and predictable plant instrumentation solution which simplifies the maintenance of the smart instrument. It conforms to industry standards and uses remote communication infrastructure to communicate to the configured devices. The introduction of industry 4.0 has resulted in the growing importance for field device management. FDMs provides a flexible architecture which is scalable and helps the companies to configure the devices securely. The system enables configuration of third-party devices, thus providing interoperability.
Based on the deployment, the on-premises segment is expected to have lucrative growth during the forecast period, owing to the increasing cybersecurity concerns. Deploying the field or site device management on-premise provides the complete control of the system at the data centre with better integration capability and security. Companies prefer on-premise FDM solutions to address indemnification issues, legal liabilities, and technical limitations. Major companies have deployed their FDM solutions on-premise, in order to provide better visibility, stronger control, and security.
By Geography, Major factors driving the growth of the FDM market in APAC include the rising demand for FDM tools due to the growing automation in the industry; growing adoption of technologies such as Industry 4.0, smart factory, IoT, and IIoT; and increasing investments in field device management to optimize productivity and increase maintenance efficiency. China is expected to lead the FDM market in the APAC region. Manufacturing, automotive, and energy & power are the major industries that would drive market growth in the APAC region.
Some of the key players in global field device management market are Omron Corporation, Emerson Electric Co., Schneider Electric SE, Azbil Corporation, Siemens AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, Honeywell International, Inc., Yokogawa Electric Corporation, Metso Automation, Fanuc, ABB Group, Festo, Endress+Hauser, Hamilton Company, Omega Engineering, Valmet, Weidmller, and Hach Company.
What the report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter's five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Key Topics Covered:
1 Executive Summary
3 Market Trend Analysis
3.6 End User Analysis
3.7 Emerging Markets
3.8 Futuristic Market Scenario
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Field Device Management Market, By Communication Protocol
5.3 Modbus Transmission Control Protocol/Internet Protocol (TCP/IP)
5.4 Ethernet/Internet Protocol (IP)
5.6 Foundation Fieldbus
5.8 Wireless Networking
5.9 Other Communication Protocols
6 Global Field Device Management Market, By Offering
7 Global Field Device Management Market, By Deployment
8 Global Field Device Management Market, By End User
8.2 Discrete Industries
8.2.1 Aerospace & Defence
8.3 Process Industries
8.3.1 Metals & Mining
8.3.3 Food & Beverages
8.3.4 Oil & Gas
8.3.5 Power & Energy
8.3.7 Water & Wastewater
9 Global Field Device Management Market, By Geography
9.2 North America
9.4 Asia Pacific
9.5 South America
9.6 Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.1 Omron Corporation
11.2 Emerson Electric Co.
11.3 Schneider Electric SE
11.4 Azbil Corporation
11.5 Siemens AG
11.6 Rockwell Automation, Inc.
11.7 Mitsubishi Electric Corporation
11.8 Honeywell International, Inc.
11.9 Yokogawa Electric Corporation
11.10 Metso Automation
11.11 ABB Group
11.14 Hamilton Company
11.15 Omega Engineering
11.18 Hach Company
For more information about this report visit https://www.researchandmarkets.com/r/8owom2