Automation Instrumentation Market
Report ID: SQSG20I2017
Automation Instrumentation Market Size, Share, Growth Analysis, By Instrument(Field Instruments, Control Valves, Leakage Detection System, Flow Computer), By Application(Oil, Gas, Food, Beverages), By Region - Industry Forecast 2024-2031
Report ID:
SQSG20I2017 |
Region:
Global |
Published Date: April, 2024
Pages:
244
|Tables:
68
|Figures:
74
Automation Instrumentation Market Insights
Automation Instrumentation Market was valued at USD 66.49 billion in 2019, and it is expected to reach a value of USD 89.32 billion by 2031, at a CAGR of more than 5.8% over the forecast period (2024-2031).
Automation instrumentation refers to a variety of tools and gadgets that are used to speed up automated processes including labelling, sorting, dispensing, and material handling, among others. Robotics and other automation devices can communicate with one another thanks to automation instrumentation.
The importance of regulatory compliance in the process industries is a key factor in the growth of the worldwide automation and instrumentation market. Another element boosting the expansion of this market in the upcoming years is the increasing usage of IoT across several sectors and the switch from analogue to digital production processes. Field Instrument is probably going to control the process automation and instrumentation market on a global scale. Because the instrument is essential to the process industries' control over process parameters. The automation instrumentation market is anticipated to benefit from the rising cost of labour in a number of industrial applications, including the manufacturing sector among others. Manufacturers offer competitively priced customised automation solutions that are tailored to the needs of the client. The automation instrumentation market is expanding quickly due to the requirement for reduced part manufacturing cycle times, greater product quality, and lower overall costs in the manufacturing industry. The automation equipment used to provide ideal monitoring and control equipment for manufacturing applications.
US Automation Instrumentation Market is poised to grow at a sustainable CAGR for the next forecast year.
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Automation Instrumentation Market Segmental Analysis
Global automation instrumentation market is segmented based on the instrument, application, and region. Based on instrument, the market is segmented into field instruments, control valves, leakage detection system, flow computer, communication. Based on application the market is segmented into oil and gas, food and beverages, pharmaceuticals, others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Automation Instrumentation Market Analysis by Instrument
Based on instrument, the market is segmented into field instruments, control valves, leakage detection systems, flow computer, and communication. Field instruments segment held the larger market share. Through data collecting, control, and measurement, field instruments help manage plant assets, improve plant safety, and optimize overall production operations. To monitor and regulate operations quickly, easily, securely, and correctly, as well as to achieve maximum productivity, it is vital to gather important information about critical parameters, such as temperature, pressure, and level. In process industries, these tools are crucial for monitoring and managing process parameters. For instance, Emerson Electric Co. unveiled a new Rosemount 1408H level transmitter in June 2021, that was created especially for the food and beverage sector. The process automation and instrumentation market for field instruments is anticipated to be driven by the ongoing availability of cutting-edge devices to automate industrial processes and measure and regulate various process parameters.
Automation Instrumentation Market Analysis by Application
Based on application the market is segmented into oil and gas, food and beverages, pharmaceuticals, others. Oil and gas industry segment held the larger market share. Automation technologies are being used more frequently by businesses in the oil and gas industry to enhance decision-making, solve issues, and boost the effectiveness and efficiency of oil and gas exploration efforts. Drilling operations, diagnostics and inspections, pipeline monitoring systems, weather monitoring systems, and pressure and flow systems are some of the key areas in the oil and gas industry that are greatly influenced by automation. One of the main industries in need of automation is drilling, which has high prices and significant worker safety risks. Due to an increase in attempts by criminals to steal pipelines, automated monitoring systems are being used more and more for pipe monitoring applications. Pharmaceuticals segment held the second largest market share. Automation permeates secondary aspects like packaging and distribution as well as primary aspects like Active Pharma Ingredients (API). Pharmaceutical enterprises in the area benefit from new levels of operational effectiveness, quality, process automation, and employee productivity thanks to digital transformation.
In addition, Lonza chose Rockwell Automation to carry out its strategic ambition of bringing the digital factory to nine former Capsugel manufacturing plants, where medicine capsules are produced. For its production operations, the company has chosen Rockwell Automation's PharmaSuite MES software to digitise the processes. This approach would assist in preventing hiccups during periods of high volume for on-demand production just-in-time orders.
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Automation Instrumentation Market Regional Insights
Global automation instrumentation market is dominated by North America. The developed infrastructure and presence of developed automation and research and development facilities are the reasons supporting the growth of market in region.
Europe region held the second largest market share. European countries have been in the forefront of implementing industrial automation systems and have received ongoing assistance from the government. For instance, the UK government said that the Industrial Strategy to invest GBP 2 billion per year from 2020 for new research and development in the technology sector. Automation has worked for years to create the foundation for smart manufacturing and the Industrial Internet of Things (IIot). Focusing on the opportunities that automation solutions would open up will give various industries the chance to push the limits of technological innovation, which is essential for the UK economy in a post-Brexit era. Process industries are predicted to undergo a transformation thanks to automation solutions.
Asia pacific region is expected to hold larger market share in future due to industrial applications including chemical reprocessing, oil & gas, electric utilities, metallurgy, and mining, nations like Japan, India, and China are fueling the automation instrumentation market. Favourable government initiatives are also the reasons responsible for market growth. Middle East region held the significant market share owing to the growing need for industrial automation in the oil and gas industry. The expansion of the region's oil and gas automation and instrumentation market will also be aided by the rising number of oil reserves and refineries over the course of the projected period.
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Automation Instrumentation Market Dynamics
Automation Instrumentation Market Driver
- Manufacturing companies are putting more of an emphasis on reducing costs and improving efficiency. In order to survive in the rapidly changing global industrial environment, industries throughout the world are concentrating more and more on enhancing production efficiency and lowering operating costs. A production site's effectiveness is measured by how rapidly it can adapt to sudden and abrupt changes in demand, preferences, and resource availability. Using process automation, this is possible. Process automation systems help monitor and regulate processes to lower rework costs, minimise inspection expenses, and reduce system failures. Instrumentation items aid in measuring and analysing process parameters including pressure, temperature, level, and humidity. Process automation enables industrial companies to lower costs and boost revenue. In order to streamline production, and to reduce labor costs industries are aggressively using process automation and instrumentation systems.
- The automation instrumentation market is anticipated to be driven by the adoption of automation instrumentation in numerous industries, including chemical, oil and gas, and petrochemicals, to improve their operational efficiency. The market for automation insemination is being driven by the rising demand for automation instrumentation to improve engine piston installation accuracy, get rid of product defects, and retrofit control systems to already-existing infrastructures. The automation instrumentation is used for items connected to automation and control systems, such as process regulation, industrial instrumentation, distributed control systems, programmable logic controllers, and human-machine interfaces. The market for automation instrumentation is being supported by the demand for designed solutions linked to automation instrumentation and the integration of disparate systems for process, industrial, and building automation applications.
Automation Instrumentation Market Restraint
- Process automation has high installation and maintenance costs. Developing a new automated manufacturing facility necessitates the use of cutting-edge automation technologies including SCADA, DCS, PLC, and HMI. The necessity for large initial investments to set up an automated production facility is one of the most important issues limiting the growth of the process automation and instrumentation market. Deploying instrumentation instruments like process analyzers and transmitters, as well as automation solutions like DCS and SCADA, requires a significant amount of cash. Solutions like DCS must be installed at an industrial site through a number of steps, including system implementation, process operation, data collecting, and consultation. As a result, overall costs rise, raising the plant owner's operating costs. Additionally, automation software demands. Furthermore, due to continual technical improvements, automation software solutions frequently need to be upgraded. Small firms cannot afford to cover these costs. As a result, system installation, upkeep, and upgrading involve significant capital expenditure, which somewhat limits industry expansion.
- Process automation and instrumentation solutions require trained personnel to operate due to the complexity of the processes, which can be misunderstood and may result in errors and defects if handled by an unskilled workforce. Process automation will hasten the change in skill sets needed as a result of how artificial intelligence (AI) and the Internet of Things (IoT) are altering the nature of employment. As businesses use IoT data to forecast results, optimise processes, avoid errors, develop new products, and implement sophisticated analytics capabilities, such as artificial intelligence (AI) and machine learning (ML), in manufacturing, the need for a competent workforce will rise. Process automation systems that have been combined with cutting-edge technologies like AI and IoT require care and experience while addressing a variety of situations.
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Automation Instrumentation Market Competitive Landscape
The global automation instrumentation market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Global Automation Instrumentation Market
- ABB (Switzerland)
- Yokogawa India Ltd. (Japan)
- Baker Hughes Company (US)
- BP plc (UK)
- SIGIT (Oman)
- Emerson Electric Co. (US)
- Mitsubishi Electric Corporation (Japan)
- Schneider Electric (France)
- Endress+Hauser Group Services AG (US)
- Schlumberger Limited (US)
- Halliburton (US)
- Rockwell Automation, Inc. (US)
- Honeywell International Inc. (US)
- INTECH (US)
- OMRON Corporation (Japan)
- Oil India Limited (India)
- Branom Instrument Co. (US)
- Eaton (Ireland)
- Siemens (US)
Automation Instrumentation Market Recent Developments
- In July 2022, Schneider Electric won energy efficient solution of the year as it delivers climate-friendly and energy-saving innovations to the market. The Greek Energy Mastering Awards 2022 recognizes best practices in responsible use of energy as it strives towards a sustainable energy future. Winners are chosen based on their ability to mobilize customers to continuously improve their energy and environmental performance, including increasing energy efficiency and reducing operating costs.
- In July 2022, ABB and Red Hat partnered to develop scalable digital solutions across industrial edge and hybrid cloud. The partnership enables virtualization and containerization of automation software with Red Hat OpenShift to provide advanced flexibility in hardware deployment, optimized according to application needs. It also provides efficient system orchestration, enabling real-time, data-based decision-making at the edge and further processing in the cloud.
Automation Instrumentation Key Market Trends
- Complex and repetitive jobs are common in large production facilities, which raises the possibility of accidents and injuries. For instance, the installation of safety and security devices will help to conduct an operation in a safe environment because oil and gas mining presents the greatest hazards to the lives of miners. Furthermore, process automation and instrumentation provide the potential for defense against attack, accidents, and other unforeseen occurrences in the public domain.
Automation Instrumentation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global automation instrumentation market analysis, in terms of instrumentation analysis, Field instruments segment held the larger market share. Due to the its multifaceted usage. According to the application, the segment of oil and gas held the larger market share owing to the increased mining and research and development activities worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 66.49 billion |
| Market size value in 2031 | USD 89.32 billion |
| Growth Rate | more than 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automation Instrumentation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automation Instrumentation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automation Instrumentation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automation Instrumentation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automation Instrumentation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automation Instrumentation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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