Field Device Management Market

Field Device Management Market worth $1.8 billion by 2024

According to the new market research report on the "Field Device Management Market by Offering (Hardware and Software), Deployment (Cloud and On-premises), Industry (Oil & Gas, Energy & Power, Chemicals, Pharmaceuticals, Automotive, Manufacturing), Protocol and Geography - Global Forecast to 2024", The field device management market is projected to grow from USD 1.3 billion in 2019 to USD 1.8 billion by 2024; it is expected to record a compound annual growth rate (CAGR) of 6.7%. The rising importance of Industry 4.0 and smart factory is the major factor that drives the market growth.

Browse 67 market data Tables and 57 Figures spread through 157 Pages and in-depth TOC on "Field Device Management Market - Global Forecast to 2024"
View detailed Table of Content here -

Software segment to hold major share of field device management market during forecast period

The abundance of data from field devices and emergence of the IIoT, smart manufacturing, Industry 4.0, digitization, and connected enterprise have made it essential for end-user industries to shift from physical world to a digital world so that they can easily transform or customize their process flow. FDM software providers are focusing on developing software solutions that can provide meaningful information extracted from sensors and field devices to control systems and open new possibilities for safety, productivity, and organizational responsiveness, thereby increasing the profitability of an enterprise.

Process industry to dominate field device management market during forecast period

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. Almost all process industries require critical monitoring and controlling processes. Many smart sensors and smart field devices have been introduced to perform data analysis of critical industries. FDM solutions help field engineers to optimize their maintenance tasks.

APAC to hold larget share of field device management market by 2024

Major factors driving the growth of the FDM market in APAC include the rising demand for FDM tools due to the growing automation in the industry; growing adoption of technologies such as Industry 4.0, smart factory, IoT, and IIoT; and increasing investments in field device management to optimize productivity and increase maintenance efficiency. Process industries such as energy & power, oil & gas, and chemicals are expected to witness the increased demand for FDM solutions for the continuous monitoring of processes and field devices in these industries.

Siemens AG (Siemens, Germany); Emerson Electric Co. (Emerson, US); ABB Group (ABB, Switzerland); Schneider Electric (Schneider Electric, France); Honeywell International Inc. (Honeywell, US); Rockwell Automation, Inc. (Rockwell, US); Yokogawa Electric Corporation (Yokogawa, Japan); OMRON Corporation (OMRON, Japan);  Mitsubishi Electric Corporation (Mitsubishi Electric, Japan); Fanuc Corporation (Fanuc, Japan); Metso Corporation (Metso, Finland); Valmet Oyj (Valmet, Finland); Hamilton Company (Hamilton, US); Phoenix Contact GmbH & Co. KG (Phoenix Contact, Germany); Endress+Hauser AG (Endress+Hauser, Switzerland); Festo AG (Festo, Germany); Omega Engineering (Omega, UK); Hach (Hach, US); Azbil Corporation (Azbil Corporation, Japan); and Weidmüller (Weidmüller, Germany) are among a few major players in the field device management market.

Don’t miss out on business opportunities in Field Device Management Market . Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Field Device Management Market Size,  Share & Growth Report
Report Code
SE 7088
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Field Device Management Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets