The process automation and instrumentation market
is likely to grow at healthy pace during the course of forecast period
from 2018 till 2026. The growth in the global automation and
instrumentation market depends on growing prominence on regulatory
compliance in the process industries. The rising adoption of IoT across
various industries and shift in production process from conventional to
digital is another factor stimulating growth of this market in coming
years.
On the basis of instrument, Field
instrument is likely to dominate the global process automation and
instrumentation market. As the instrument plays crucial role in the
control of process parameter in the process industries.
The study provides comprehensive analysis
of the global process automation and instrumentation market along with
this the growth prospect of this market is also highlighted in great
details. The report also provides factors promoting and deterring growth
of this market. The report also offers competitive dynamics in the
global market by factoring the weakness and strength of the key players,
key products and degree of competition among the players are also
included.
Global Process Automation and Instrumentation Market: Trends and Opportunities
The global process automation and
instrumentation market is driven by increasing regulatory compliance in
the processed industries. The rising labor wages in the industrial
sector is another trend supporting growth of this market. Further,
increasing demand for proactive solutions that can determine failure at
the component level, has also provided a boost to the growth of this
market in coming years.
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The increase in adoption of multivendor
portable application will be one of the key factor influencing growth of
this market. In addition, the increasing industrial automation rate of
adoption among several end-user industries are stimulating growth of
this market in the upcoming years. Further, the growing demand for
utilities and energy is anticipated to offer highest growth over the
forecast period. The industry helps in reducing emission and is pushing
for increasing efficiency. The process automation and instrumentation
offers proficient output and input energy management and thereby
promoting towards growth of this market. The ever-growing demand for
energy and government initiatives to improve power reliability and to
increase inclination towards the local industries. These are some of the
factors propelling growth of this market in the upcoming years.
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