The rising demand
for FDM solutions in the automation industry, growing adoption of Industry 4.0,
smart factory, IoT, and IIoT technologies, and increasing investments in the
development of FDM solutions are some of the factors driving the growth of FDM
market in APAC. China is expected to lead the FDM market in the APAC region.
Manufacturing, automotive, and energy & power are the major industries that
would drive the market growth in the APAC region.
Which are the major industries of this market?
The process
industries are expected to witness a significant growth in the FDM market. Oil
& gas, chemicals, energy & power, food & beverages,
pharmaceuticals, metals & mining are among a few major process industries.
The emergence of Industry 4.0 and the evolution of big data have presented
process industries with unique opportunities for taking their performance to a
new level.
Major opportunities
for the FDM market includes benefits offered By cloud computing technology,
investment opportunities in cloud computing, and initiatives of FDM providers
and alliances towards product development.
Which are the major players in the market?
What are their major strategies to strengthen their market presence?
Siemens (Germany),
Emerson (US), Honeywell (US), ABB (Switzerland), Schneider Electric (France),
Rockwell Automation (US), Yokogawa (Japan), OMRON (Japan), Mitsubishi Electric
(Japan), Fanuc (Japan), Metso (Finland), Valmet (Finland), Hamilton Company
(US), Phoenix Contact (Germany), Endress+Hauser (Switzerland), and Festo
(Germany) are the major players in the market. Product launches and upgradation
of exisiting products are the major starategies adopted by these players. Apart
from this, these players are indulging in inorganic growth strategies to
maintain its position in the market.
Which offering is expected to drive the growth
of the market in the next 5 years?
Most of the players
provide software-based solutions for better analysis of field devices. Software
offerings are expected to dominate the market due to the rising adoption of
advanced technologies such as industrial automation, Industry 4.0, and the
IIoT. Field device management (FDM) acts as a configuration tool for smart
field devices and a maintenance tool for diagnostics and troubleshooting
applications. FDM tools are used by control engineers for commissioning and
configuration tasks and by instrument technicians for troubleshooting and
maintenance activities. FDM solutions help to remotely access smart devices and
provide field data of the asset/machine, which can be used for predictive
maintenance.
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