Process Automation Market - Trends Forecast Till 2028

Market Overview

The global Process Automation Market size is projected to reach a CAGR of 5.9% from 2022-2028.

Process automation industries have been into existence for a long time. The advances in automation systems have taken the process industries to a next level in terms of time management, production quality, energy efficiency and optimization of process. Process automation generally follows five layered architectures in which I/O systems is at lowest level then PLC then SCADA followed by MES and ERP respectively. These five layers together form process automation.

The growing importance of energy efficiency and cost optimization, increased productivity, minimized errors and better scalability; the increasing use of digital technologies such as IIoT, machine learning, and artificial intelligence; and the rising emphasis on industrial automation and optimum utilization of resources are some of the factors that have supported long-term expansion for Process Automation Market.

The outbreak of the COVID-19 pandemic had negatively impacted the growth of the process automation market in 2020 due to disruptions in the supply chain and a decline in demand.

Regional Analysis

Asia Pacific led the global process automation market, followed Asia Pacific led the global process automation market, followed by North America and Europe. In Asia Pacific, the demand for process automation solutions is growing from the oil & gas and food.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• ABB Ltd.
• Emerson Electric Company
• Danaher Corporation
• Omron Corporation
• Mitsubishi Electric Corp.
• Schneider Electric
• Rockwell Automation
• Siemens and Yokogawa Electric Corporation

Recent Developments

• In September 2021, Siemens launched Sitrans IQ, a new digitalization portfolio designed for targeted monitoring of critical measurement points to complete asset management covering instrumentation for multiple plants. This solution meets all types of requirements, including apps for smart asset management, smart inventory management, remote monitoring, Bluetooth connectivity for field devices and condition monitoring of capital assets
• In June 2020, Emerson Electric Co. launched ASCO Series 353 pulse valves. These valves are expected to help end users achieve effective, efficient, and convenient bag cleaning. These valves can be used in different applications in agriculture, pharmaceuticals, mining, rubber, metals, cement, and power industries.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Process Automation Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope