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Process Automation & Instrumentation Market - Analysis and Forecast – 2018
Process automation has been designated the term by the upsurge in the virtualization phenomenon which is aimed at refurbishing the various manufacturing processes in the industrial ecosystem. The refurbishing incorporates improving the longevity of the control systems and keep the scalability and uptime levels at par with the industry standards. Moreover, it also aids in achieving hardware independence ultimately resulting in overall escalation of the system scalability. Moreover, the process automation analogy has also narrowed the gap between the information exchange and performance throughputs pertaining to the communication protocols and various automation technologies.
The industrial output across the globe clearly portrays the fluctuating demand-supply ratio which has been plaguing the profitability of the manufacturing bases of the various industry majors across the developing nations. The process automation taxonomy helps in bridging this gap and maintains a prudent check on maintaining maximum profitability in a scenario where is witnessing scarcity in the available resources.
Process automation serves different connotations for different geographies across the globe. The European region, though on a lower scale, lays emphasis on the automation of the control systems because of the stringent federal norms testament to the revised emission norms. The APAC region, which is expected to scale itself as a game-changer for the process automation market, mainly emphasizes on mass production, thereby enriching monetary dividends. The major verticals consolidating their stake in the process automation market and the associated hardware, software and the service domains, comprise of pharmaceutical, chemical, oil & gas and power generation.
The service market has emerged as the most prolific domain in churning out the market revenues for the Process Automation Market, with an augmented segment of the end-users, preferring the maintenance and outsourcing services instead of the in-house purchase and the subsequent maintenance. The major driving factors for the process automation market, which are expected to pay rich dividends in the coming years, include the need for energy efficiency, government incentive schemes for the manufacturing industry, and the upsurge in the labor charges.
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Process Automation Market & Instrumentation Market – By Technology (SCADA, PLC, DCS, MES), Communication (Profibus, Fieldbus, Wireless HART, ISA100), Transmitter (Flow, Temperature, Level, Pressure) - Analysis and Forecast (2013 – 2018)
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