The report "Process Automation and Instrumentation Market by Transmitter (Level, Pressure, Temperature), Analyzer (TOC, pH, Oxygen, Conductivity, Density, Toxic Gas, Turbidity, Hydrogen Sulfide), PLC, DCS, SCADA, HMI, MES, Industry - Global Forecast to 2029" The global process automation and instrumentation market size is projected to reach USD 98.6 billion in 2029 from USD 74.2 billion by 2024, with a CAGR of 5.9%. The process automation and instrumentation market encompass players that offer HMI, MES, PLCs, DCS, SCADA, and functional safety solutions; along with field instruments such as level, temperature and pressure transmitters, vibration level switches and humidity sensors. The market is highly segmented, with many companies in the value chain competing to solidify their position and expand their market share. Increasing demand for efficiency and cost effectiveness coupled with increasing adoption of digital technologies is shaping the trend of this market towards its growth.
Field instruments
dominated the global process automation and instrumentation market in 2024.
Field Instruments is
expected to dominate the global process automation and instrumentation market
in instruments. Field instruments excel
in providing accurate and reliable measurements of variables such as temperature,
pressure and flow. The ability to
provide predictive maintenance through continuous monitoring also helps reduce
downtime and operating costs, making them indispensable in the oil and gas,
pharmaceutical, food and beverage industry.
Field instruments also help in cost saving by reducing manual monitoring
and minimizing errors associated with human intervention. They are essential to
maintain optimal operational efficiency and safety in industrial systems.
HMI to grow at the
highest CAGR during the forecast period of 2024 to 2029.
Human Machine Interfaces
(HMI) are poised to experience the highest growth rate (CAGR) within the
process automation market. HMI provide a user-friendly interface that allows
operators to monitor, control, and optimize production processes. It helps in efficient
decision making, improved productivity and reduces human error. Increasing
complexity of processes, rise of IIoT and a focus on security all combine to
make HMIs the most dynamic part of the process automation market. The emergence
of cloud-based HMI solutions and the increasing use of mobile devices for
remote monitoring and control are expected to contribute to the high growth
rate of the HMI segment in the process automation market during the forecast
period.
Pharmaceuticals to grow
at the highest CAGR during the forecast period of 2024 to 2029.
Pharmaceutical Industry
is expected to grow at the highest compound annual growth rate (CAGR) in the
process automation and instrumentation market, owing to increasing demand for
sophisticated tools and equipment to support drug discovery, development, analysis,
and modeling of compounds. Companies focus on growth through innovation and
adoption of advanced automation technologies, such as human-machine interface
(HMI), Supervisory Control and Data Acquisition Systems (SCADA) and
Manufacturing Execution Systems (MES), it is expected that operations will
increase efficiency, reduce reliance on manual processes, and improve
compliance with stringent regulatory standards, contributing to the highest
CAGR in the process automation and instrumentation market.
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Asia Pacific to grow at
the highest CAGR during the forecast period of 2024 to 2029.
Asia Pacific is expected
to grow with the highest CAGR in the global process automation and
instrumentation market. In Asia Pacific, the demand for process automation and
instrumentation solutions is due to rapid industrialization in countries like
China, India, and Vietnam which is driving the demand for efficient and
automated production processes. The region has shown investments in research
and developments while increasing the adoption of advanced technologies,
thereby boosting demand for automation solutions. And the government policies
aimed at promoting automation and digitalization is further boosts the market.
The region's established industries, such as pharmaceuticals, oil & gas,
also boost the demand for process automation solutions.
Major companies
operating in this process automation and instrumentation market include ABB
(Switzerland), Emerson Electric Co. (US), Siemens (Germany), General Electric
Company (US), and Schneider Electric (France).
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