The adoption of SCADA in various industries has accelerated owing to its various advantage consisting of updating and upgrading through cloud.
HYDERABAD, TELANGANA, INDIA, November 1, 2022 /EINPresswire.com/ — Process Automation and Instrumentation market is projected to reach $73.5 billion by 2026 growing at 3.9% CAGR through 2026. Process Automation is a technology, which involves the usage of automated equipment or machines in various industries to reduce or eliminate human efforts, and increase the efficiency of work in a short period of time. In process automation, the manufacturing and industrial sector is growing at a rapid rate and has led to the advancement of technology such as distributed production by factories and services, the implementation of autonomous plants, and the increasing use of remote operations to automate certain operations. Thus, the graph shows the technological, political, and economic development of the process automation.
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1. The use of the advanced software can help in providing flexibility in terms of programming, large memory capacity, better interoperability, and incorporates more features and functions that are suitable for industry applications.
2. The demand for PLC system is rising owing to its huge applications in complex automation having extensive process control requirements, network connectivity, device interoperability, enterprise data integration, and many more.
3. The adoption of SCADA in various industries has accelerated owing to its various advantage consisting of updating and upgrading through cloud, easy retrieval of files, and many more.
4. The use of the MES is observed in many industries such as pharmaceuticals, consumer packaged goods, automotive industry, and many others. The major driving forces for utilizing MES includes development in the production systems, modern logistic concepts, and advanced product development processes.
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Process Automation and Instrumentation Market Segment Analysis – By Solution: vProgrammable logic control is an integration of PC and PLC in a single system to control various process in industries and is projected to reach $9.5 billion by 2026. This controller comprises of two or more processors, PC-based software applications such as HMI (human machine interface) functions, asset management, historian, advanced process control (APC) and others with PLC capabilities.
Process Automation and Instrumentation Market Segment Analysis – By Industry Vertical :In the pharmaceutical industry, process automation helps to ensure that a consistency is maintained in each batch of production. It also offers better control of the processes, providing an ability to monitor the processes from remote locations. This increases the demand of process automation in the pharma industry. In the pharma industry, the usage of liquid handling robots to improve reproducibility and increase the validity of data in High Throughput Screening (HTS) is one of the developed technology.
Process Automation and Instrumentation Market Segment Analysis – By Geography:
APAC is among the major regions, which has been driving the Process Automation Market accounting for 36.2% share in 2020. In Europe, the number of rig count is decreasing drastically from year to year. The number of rig count decreased from 117 to 85 between 2015 to 2018. Even though, there was a decrease in rig count, technology development and implementation of automation has been increasing. This combined with the stabilizing of oil and gas industry prior to Covid-19 will spur the market growth especially in APAC region.
The top 5 players in the Process Automation and Instrumentation industry are:
1. Honeywell International Inc.
2. Siemens AG
3. ABB Ltd.
4. Emerson Electric Co.
5. KUKA AG
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