Process Control Automation Market Size, Share Analysis And Forecast To 2033

Overview and Scope

Process control automation refers to the process of using technology and systems to monitor and adjust industrial processes automatically to achieve a desired output. It involves implementing control systems that manage various aspects of a production process without direct human intervention by minimizing waste, reducing downtime, and enhancing product quality.

 

Sizing and Forecast

The process control automation market size has grown steadily in recent years. It will grow from $59.86 billion in 2023 to $62.71 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%.  The  growth in the historic period can be attributed to industry 4.0 revolution in the manufacturing sector, growing need to achieve process optimization in lesser time, rising rate of the population entering the middle and upper classes, reduction of operating costs with the advent of IoT, implementation of new policies and regulations.

 

The process control automation market size is expected to see strong growth in the next few years. It will grow to $76.80 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.  The growth in the forecast period can be attributed to expansion of manufacturing sector, increasing demand for automation in industries, increasing demand for machines, increasing number of government initiatives, increasing use of remote operations. Major trends in the forecast period include technological advancements, use of advanced software, development of process automation companies, product innovation, adoption of automation technologies.

 

To access more details regarding this report, visit the link:

https://www.thebusinessresearchcompany.com/report/process-control-automation-global-market-report

 

Segmentation & Regional Insights

The process control automation market covered in this report is segmented –

1) By Instrument Type: Humidity Transmitter, Temperature Transmitter, Pressure Transmitter, Level Transmitter, Control Valves, Analyzers, Communication Hardware, Other Instrument Types

2) By Solution: Programmable Logic Controller (PLC), Distributed Control System (DCS), Manufacturing Execution Systems (MES), Supervisory Control And Data Acquisition (SCADA), Automated Production System (APS), Operator Training Systems (OTS), Safety Automation, Other Solutions

3) By Industry Vertical: Oil And Gas, Chemical, Pharmaceutical, Food And Beverage, Metal And Mining, Power, Pulp And Paper, Water And Wastewater, Other Industry Verticals

 

Asia-Pacific was the largest region in the process control automation market in 2023. The regions covered in the process control automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

 

Intrigued to explore the contents? Secure your hands-on sample copy of the report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=14779&type=smp

 

Major Driver Impacting Market Growth

The expansion of the manufacturing sector is expected to propel the growth of the process control automation market going forward. The manufacturing sector refers to the portion of the economy producing goods through various processes, such as machining, fabrication, assembly, or chemical processing. The manufacturing sector is expanding due to economic growth, government policies and incentives, consumer demand and preferences, and supply chain resilience. Process control automation plays a crucial role in manufacturing by enhancing efficiency, quality, productivity, flexibility, safety, and cost-effectiveness. It enables manufacturers to remain competitive in an increasingly complex and dynamic business environment. For instance, in August 2023, according to a report published by the National Association of Manufacturers (NAM), a US-based manufacturer association, manufacturing value-added production exhibited yearly growth from $2.905 trillion in the first quarter of 2023 to $2.895 trillion in the fourth. Manufacturing made up 10.9% of the value-added output in the first quarter of the US economy. Therefore, the expansion of the manufacturing sector is driving the growth of the process control automation market.

 

Key Industry Players

Major companies operating in the process control automation market are Mitsubishi Electric Corporation, Robert Bosch GmbH, Siemens AG, General Electric Company, Schneider Electric SE, Danaher Corporation, ABB Ltd., Eaton Corporation Plc, Kawasaki Heavy Industries Ltd., Emerson Electric Co., Delta Electronics Inc., Honeywell International Inc., Rockwell Automation Inc., Omron Corporation, KUKA AG, Yokogawa Electric Corporation, Endress+Hauser AG, AVEVA Group Plc, Pepperl+Fuchs SE, Invensys Limited, IDEC Corporation, Aspen Technology Inc., Rudolph Technologies Inc., Carlo Gavazzi Holding AG, Inductive Automation LLC, Beckhoff Automation, Hawk Measurement Systems, Maple Systems Inc., AlpHa Measurement Solutions LLC

 

The process control automation  market report table of contents includes:

1. Executive Summary
2. Process Control Automation Market Characteristics
3. Process Control Automation Market Trends And Strategies
4. Process Control Automation Market – Macro Economic Scenario
5. Global Process Control Automation Market Size and Growth
6. Process Control Automation Market Segmentation
7. Process Control Automation Market Regional And Country Analysis

…………….

34. Key Mergers And Acquisitions In The Process Control Automation Market
35. Process Control Automation Market Future Outlook and Potential Analysis
36. Appendix

 

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Process Control Automation Market, Segmentation By Instrument Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Process Control Automation Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Process Control Automation Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

…………

Table 74: Mitsubishi Electric Corporation Financial Performance

Table 75: Robert Bosch GmbH Financial Performance

Table 76: Siemens AG Financial Performance

Table 77: General Electric Company Financial Performance

Table 78: Schneider Electric SE Financial Performance

 

Explore the trending research reports from TBRC:

https://goodprnews.com/far-field-voice-and-speech-recognition-market-trends/

https://topprnews.com/green-technology-market-growth-insights/

 

Learn About Us:

The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

 

Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model