Status : Published | Published On : Jan, 2024 | Report Code : VRSME9094 | Industry : Semiconductor & Electronics | Available Format :
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The Global Process Automation And Instrumentation Market is projected to experience substantial growth in the coming years. Starting from a value of USD 70 billion in 2023, the market is expected to reach a staggering USD 82.6 billion by 2030. This growth trajectory indicates a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period spanning from 2025 to 2030.
Process automation and instrumentation is a method of monitoring and controlling various business production processes. It is the technology-enabled automation and instrumentation of complex business processes that assist in streamlining operations, meeting organizational goals, improving quality, and lowering operating costs. The technology also entails using numerous interrelated processes to monitor and control physical quantities. The key drivers of process automation and instrumentation market development are mounting concerns about planned functional safety and protection, increasing demand for energy-efficient manufacturing processes, rising labor expenses, and high productivity levels with low prices.
The COVID-19 pandemic has led to huge losses to manufacturers globally. Process automation and instrumentation are serving industries like oil and gas, chemical, and power generation industries. These industries have cut back on their production services for the time being owing to reduced demand and supply chain disruption. As a result, demand for process automation and instrumentation has decreased, which is having a snowball impact on the market. However, the steps taken in fiscal policy by regional financial institutions to help manufacturing facilities float during the COVID-19 pandemic will drive the growth in the process automation and instrumentation market.
The global process automation and instrumentation market is classified into three categories based on instrument, namely, field instrument, control valve, and analytical instrument segments. Out of these, the field instrument segment dominates the market due to its significant role in process control and ability to monitor and measure critical factors like temperature, pressure, level, and flow in processing industries such as oil & gas, mining, chemicals, and pharmaceuticals. These instruments can be automated and operated from the control room and help in easy and speedy information transfer in a secure and precise manner.
The global process automation and instrumentation market is divided into different solutions into PLC, DCS, SCADA, HMI, safety automation, APC, and MES segments. Out of these segments, the HMI segment is expected to grow at a higher CAGR during the forecast period due to better integration with specialized computers, the ability to extract useful and actionable data by the operators from plant equipment, the ability to process and display data received from other connected systems, improving productivity, enhancing operator safety, reducing human involvement and errors in the production process. On the other hand, the MES segment is also expected to grow at a higher CAGR due to its ability to improve productivity, reduce cycle times, and eliminate human dependency in data processing. It also offers operational cost-effective opportunities and improves supply chain production asset production.
According to the different industry verticals, the global process automation and instrumentation market is divided into food & beverages, pharmaceuticals, chemicals, energy & power, oil & gas, metals & mining, water & wastewater, pulp & paper, and other segments. Out of all these segments, the pharmaceutical industry is expected to grow at a faster rate during the forecast period due to its growing need for precision measuring equipment to ensure accurate dosage of medicine, increasing requirement for process automation solutions across different processes like drug development, manufacturing, testing, packaging, and distribution. The energy & power sector will also grow due to the rise in demand for electricity, clean and smart energy, the need to overcome power generation and distribution losses, and increased deployment in the value chain of the oil & gas industry.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2024 |
U.S.D. 70 Billion |
Revenue Forecast in 2030 |
U.S.D. 82.6 Billion |
Growth Rate |
2.7% |
Segments Covered in the Report |
By Instrument, By Solution, and By Industry Vertical |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
The higher adoption of Industry 4.0 practices is a significant trend that results in smart automation in the manufacturing sectors, offering benefits like improved production, team performance, and quality of products, along with reduced cost and errors. The rise in demand for process optimization in industrial operations to reduce time is another significant trend, along with the growing initiatives by the government to adopt automation.
The growth of the global process automation and instrumentation market is influenced by the growing emphasis on energy efficiency and cost reduction by several industries. The rise in demand for this technology due to the growing focus on digitalized platforms like the Industrial Internet of Things (IIoT) also contributes to the market growth. Another significant growth factor is the higher adoption of industrial automation across industries, along with the need to implement stringent compliances and regulations to improve production. Furthermore, the need for resource optimization, increased investment in R&D activities by the automotive industry, constant advancements of manufacturing units in the utility and oil & gas sectors, the need for proactive solutions to administer component failures more effectively, and the increased adoption of multivendor portable applications are promoting further market growth.
The high initial investment, operational, and maintenance cost of solutions like MES and devices like process analyzers, control valves, and transmitters restrain the market growth along with the reduction in demand and supply of products, limited penetration by SMEs due to budget restrictions also hinders market growth.
Growth opportunities are offered by the growing demand for safety automation solutions to prevent thefts, accidents, terrorist attacks, and equipment malfunctioning since this practice can handle complex processes during emergencies.
The APAC market is expected to grow at a higher CAGR during the forecast period due to a robust infrastructure and further investments in its development, especially in the energy & power sector. This is attributed mainly to the growing demand for electricity, power reliability, production of oil & gas, and food & beverage due to the growing population, rapid industrialization, continual growth in industrial activities, and supportive government policies.
Process automation and instrumentation are moderately fragmented with many players entering into partnerships, acquisitions, product launches, and R&D activities to have a competitive edge in the market.
Mitsubishi Electric is focused on technological innovation and ceaseless creativity and its process automation solutions are aiding customers to visualize and optimize their operations. Mitsubishi Electric combines the power of process automation and digital data to provide cutting-edge solutions to organizations.
ABB is one of the leading global technology companies that is engaged in power automation technologies and is focused on transforming society to achieve a more productive sustainable future. Process Automation business provides a variety of solutions for process and hybrid industries, including industry-specific integrated automation, electrification, and digital solutions, control technologies, software, and advanced services, as well as measurement & analytics, marine, and turbocharging.
Some of the leading players in the process automation and implementation industry include ABB, Honeywell, Mitsubishi Electric Corporation, Emerson Electric Co., Danaher, Siemens, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Inc., and General Electric.
Mitsubishi Electric Corporation has signed a pilot contract with Raytheon to repair transmitters used in APG-63 (V)1 F-15 fighter radars operated by the US Air Force and allied forces.
Emerson Electric Co (U.S. industrial conglomerate) bought National Instruments Corp for USD 8.2 billion, capping a nearly yearlong pursuit of the measurement equipment maker.
The Process Automation and Instrumentation Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
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