What is Process Automation Systems Market?
Process Automation systems controls the manufacturing processes. Various components are used such as sensors, controllers and operator terminals. In the automation the performance and quality is measured automatically reducing the manual work. It also uses the software to control the equipment. Recently the manufacturers are continuously adopting the automated processes to improve the efficiency. Due to rise in the industries such as automobile and electronic devices the market is growing
The market study is being classified by Type (PLC Process Automation Systems, HMI Process Automation Systems and Others), by Application (Chemical, Oil Refineries, Paper and Pulp, Semiconductors, Infrastructure and Others) and major geographies with country level break-up.
ABB (Switzerland), Siemens (Germany), Rockwell Automation, Inc. (United States), Schneider Electric (France), Chint Group (China), Emerson Electric Co. (United States), S&S Technical (United States), Par Systems (United States), A&B Process Systems (United States) and AIS Automation Dresden (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Invensys (United Kingdom), Honeywell International Inc. (United States), Mitsubishi Electric (Japan) and Yokogawa Electric (Japan).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Process Automation Systems market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Process Automation Systems market by Type, Application and Region.
On the basis of geography, the market of Process Automation Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rise in Industrial Automation is Affecting the Market Positively
- Requirement of Reduction in Manual Work to Bring Accuracy
Market Trend
- Shift of Manufacturing Techniques towards Digital Methods
- Adoption of Internet Based Technologies by Industries
Restraints
- High Implementation and Maintenance Costs
- Lack of Skilled Labors Required For Development and Maintenance
Opportunities
- Growing Automation in Developing Countries like India
Challenges
- Reduction of Jobs Due to Automation Systems for Increasing Population
- Requiring the Development of High Level Programming
Market Leaders and some development strategies
In 2019, ABB Inaugurates Advanced Innovation and Manufacturing Hub in Xiamen. A New Hub integrates all of ABB’s Activities in Southeastern Coastal City to Create State-of-the-Art Campus Specializing in Advanced Technologies and In 2018, Snc-Lavalin and ABB Announce Formation of Linxon, a New JV Company. Linxon has Been Formed to Execute Turnkey Substation Projects, Combining the Unique Strengths of Both Snc-Lavalin and ABB to Deliver Customer Value
In 2019, Siemens Has Launched a New Mindsphere Application Center, a State-of-The-Art Digitalized Technology Center, Supported by Siemens’ Mindsphere, an Open, Cloud-Based IOT Operating System that Lets Customers Connect Machines and Physical Infrastructure to the Digital World and its Thermodynamic Digital Twin
Key Target Audience
Government Organizations, Research Organizations, Market Research and Consulting Companies, Manufacturers and Others