The process automation and instrumentation market is expected to witness CAGR of 2.7% during the forecast period. Process Automation is a technology that uses automated equipment or machines in diverse industries to decrease or eliminate human labor and increase job productivity in a short span of time. The manufacturing and industrial sectors are rapidly evolving in process automation, resulting in advances in technology like distributed production by factories and services, the installation of autonomous plants, and the expanding use of remote operations to automate some processes. The increased emphasis to enhance the efficiency and effectiveness of operations performed by industry verticals at various stages to reduce operational costs and increase the demand for process automation and instrumentation. The increased adoption of IoT technology in various industrial verticals, mounting industrial revolution, growing labor wages in major manufacturing countries, and rising demand to boost production efficiency will accelerate the growth of the market. Nevertheless, the increased demand for safety automation systems will create opportunities for growth in the market. Thus process automation and instrumentation is significant for industries so as to provide real-time insights and are used for optimizing functions.
In November 2021, Honeywell has delivered a novel process automation functionality Experion Process Knowledge System (PKS) 520.1 for end-users. It has laid the foundation of Experion PKS Highly Integrated Virtually Environment (HIVE) which has reduced the complexity and cost of automation projects.
The COVID-19 pandemic has led to an economic slowdown leading to slow growth in the process automation and instrumentation market. Owing to disruption in the supply chain, shortage of raw material, import and export ban, and reduced demand for goods, the output has reduced and decreased in the growth of process automation and instrumentation market.
Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " Process Automation and Instrumentation Market Insight by Instrument (Field Instrument, Control Valve, and Analytical Instrument), by Solution (PLC, DCS, SCADA, HMI, Safety Automation, APC, and MES), by Industry Vertical (Food & Beverages, Pharmaceuticals, Chemicals, Energy & Power, Oil & Gas, Metals & Mining, Water & Wastewater, Pulp & Paper, and Others), and Region - Global Forecast to 2027"
By instrument, the control valves is projected to witness highest CAGR during the forecast period.
The process automation and instrumentation market is classified into three categories based on instrument: field instrument, control valve, and analytical instrument. Control valves are anticipated to have a high CAGR during the forecast period owing to ensuring accurate flow control which enables automatic operation and reduced wastage of resources. Furthermore, the increased adoption of control valves in the oil & gas industry and rising initiatives by the government to projects related to flow control like gas pipelines and water distribution will fuel the growth of the control valves segment.
Global Process Automation and Instrumentation Market Segmentation Analysis
Segment |
Categorization |
Leading Category |
Instrument |
Field Instrument, Control Valve, and Analytical Instrument |
Field Instrument (Largest) Control Valve (High CAGR) |
Solution |
PLC, DCS, SCADA, HMI, Safety Automation, APC, and MES |
HMI (High CAGR) MES (Fastest) |
Industry Vertical |
Food & Beverages, Pharmaceuticals, Chemicals, Energy & Power, Oil & Gas, Metals & Mining, Water & Wastewater, Pulp & Paper, and Others |
Pharmaceuticals (High CAGR) Energy & Power (Significant growth)
|
Region |
North America, Europe, Asia-Pacific, and Rest of the World |
North America (Largest) Asia-Pacific (Fastest) |
Discover More About This Report, Download A Free Sample Copy of Process Automation and Instrumentation Market
“North America to hold the largest regional market share in 2021.”
Owing to the rising adoption of industrial automation processes in the area, North America dominates the process automation and instrumentation industry. Moreover, the prominence of a strong technological base, rising funding in the petrochemical and chemical industry will fuel the growth in the region.
Some of the major players in the global process automation and instrumentation market include ABB, Honeywell, Mitsubishi Electric Corporation, Emerson Electric Co., Danaher, Siemens, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Inc., and General Electric.
Scope of the Report
Report Metric |
Details |
Market Size Available for the Years in the Study |
2015–2027 |
Historical Period |
2015–2020 |
Base Year |
2020 |
Forecast Period |
2021–2027 |
Segments Covered in the Study |
Instrument, Solution, Industry Vertical, and Region |
Geographies Covered in the Study |
North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.) |
Companies Covered in the Study |
ABB, Honeywell, Mitsubishi Electric Corporation, Emerson Electric Co., Danaher, Siemens, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Inc., and General Electric |
Global Process Automation and Instrumentation Market Coverage
Instrument Insight and Forecast 2015-2027
Solution Insight and Forecast 2015-2027
Industry Vertical Insight and Forecast 2015-2027
Geographical Segmentation
Process Automation and Instrumentation Market by Region
North America
Europe
Asia-Pacific (APAC)
Rest of the World (RoW)