Automation and Instrumentation – Global Market Outlook (2017-2026)”
report has been added to ResearchAndMarkets.com’s
The Global Process Automation and Instrumentation market is expected to
grow from $60.12 billion in 2017 to reach $105.94 billion by 2026 with a
CAGR of 6.5%.
Increased adoption of process automation and instrumentation products
across industries, rising oil and refineries industry, shifting
production approach from conventional practices to digitalized methods,
adoption of multivendor portable applications, growing regulatory
compliances in process industries, increased usage and application of
MES, PLC, SCADA, and DCS, in process industries, rising adoption of IoT
across industries and increasing labor wages in major manufacturing hubs
are some of the major factors boosting the market growth.
On the other hand, high instrument failure rates, high implementation
and maintenance costs are the restraints limiting the market growth.
By instrument, control valves segment is expected to witness higher CAGR
during the forecast period due to its significance in control loop.
Distributed control system (DCS) segment was the dominant solution in
process Automation and instrumentation market as these systems are
widely used in process industries as an extension of conventional
controllers. Distributed control system (DCS) solutions are widely used
in oil & gas, energy & power, packaging, auto motive, pharmaceutical,
chemical, food and beverages, and pulp and paper industries.
What our report offers:
Types of Processes
For more information about this report visit https://www.researchandmarkets.com/research/vd7kcg/process?w=4
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