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Process & Instrumentation Automation Market Picking Up Steam
According to a recent report by MarketsandMarkets the Process Automation and Process Instrumentation markets will grow at a CAGR of about 5% to $125 billion and $37 billion, respectively, by 2018. These markets include: SCADA (Supervisory Control And Data Acquisition), PLC, DCS, MES technologies; Profibus, Fieldbus, Wireless HART, ISA100 communication technology; and Flow, Temperature Level Pressure transmitters.
The process industry provides advanced automation and instrumentation systems that improve production quality, time management, energy efficiency, process optimization and more. Much of the expected growth over the next five years will come from companies in countries that heretofore have not widely adopted automation and may be operating antiquated equipment, mostly developing regions like Brazil, India, and areas of Asia. Companies in these regions are investing heavily to migrate facilities or perform upgrades to plant processes.
The typical manufacturing set up in developing regions is a collection of this connected or loosely connected systems. There has of yet been no set up to collect information from manufacturing operations that can be used in real time to improve productivity.
Part of the reason for the uptick in automation and instrumentation is the slowly expanding world economy, especially in developing regions. In coming years, manufacturing activity in these regions will be picking up and installation of automation and related systems will allow companies to meet increasing demand, improved productivity increase capacity and meet growing compliance, regulatory and safety requirements.
As traditional manufacturing process automation increases and helps improve outcomes, companies will begin to adopt business process automation as well.
Tags: automation, automation market, automation news, process and instrumentation
This entry was posted on March 5th, 2014 and is filed under Automation. Both comments and pings are currently closed.
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