Process Automation Market by (Technology, Communication and Instrumentation) Worth $124.29 Billion by 2018 – New Report by Marketsandmarkets
(PRWEB) August 28, 2013 -- Browse 110 market data tables and 56 figures spread through 342 pages and in-depth TOC on “Process Automation and Instrumentation Market by Technology (SCADA, PLC, DCS, MES); Communication (Profibus, Fieldbus, Wireless HART, ISA100); Transmitter (Flow, Temperature, Level, Pressure, Control Valves) - Analysis and Forecast (2013 – 2018.”
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The extensive study of the competitive landscape of the process automation and instrumentation market clearly portrays that the American market has most of the global market leaders as its top performers. The companies provide solutions related to PA & PI market as well as other automation solutions. We can clearly see that APAC has a significant number of players but lesser automated industries as of now. By this, we can understand that these players in the APAC market are serving the niche players. APAC will grow at the fastest rate in the coming five years due to the fast growth of the niche market as well as a better demand in the bigger industries.
The major players dealing in process instrumentation related products and solutions are Emerson (U.S.), Yokogawa (Japan), Siemens (Germany), Honeywell (U.S.) and Endress+Hauser (Switzerland), among others. The others section contains companies like Vega (Germany) and Krohne (Germany) which form a minor chunk of the instrumentation market.Yokogawa (Japan), Honeywell (U.S.), Siemens (Germany), Emerson (U.S.), and ABB (Switzerland) among others hold the maximum share for the process automation market. The others section contains Schneider Electric (France), Mitsubishi Electric (Japan), GE (U.S.), Omron (Japan) and Rockwell Automation (U.S.), among others. Yokogawa (Japan) is a major player in the DCS market and Siemens (Germany) leads the pecking order of the global PLC manufacturers.
The new product launch is the most important growth strategy in the process automation market. Collaborations, partnerships, agreements and joint ventures are also some of the major strategies that are taken up by the market leaders. Even though M&A’s are not very frequent in the process automation market, it is still an important strategy for the growth of the market.
The market has seen potential for growth in the emerging economies like BRIC countries and other South-East Asian countries. Increase in the number of expansion plans of the process based industries have led to a rise in demand for automation products. As a result of this, many small companies entered the market as prospective OEM, with the backing from private equity and venture funds. This has changed the competitive dynamics for the existing big players as their profit margins have decreased.
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