Global Megatrends and Digitalization Initiatives will Drive Process Automation Market Growth

Despite the decline in the capital expenditure in 2020 in process industries, primarily due to the COVID-19 pandemic, the outlook remains positive for capital investments in automation products and software in the process industries. This is because the macro trends that underlie the growth in this market remain in place. These trends include globalization, infrastructure expansion, an aging installed base of automation equipment, manufacturing labor shortages, digitalization, an increasing middle class in Asia, and the ongoing need to improve production and process controllability and reduce energy consumption.

"Digitalization already has a marked impact on industrial operations. Each year, new products and capabilities provide higher value, driving investments in new equipment. Features are incorporated to control production processes more precisely, improve functionalities, reduce energy consumption, expand operational visibility, increase plant safety, and provide contextualized and time-relevant information to improve management and production floor decisions. As a result, automation products and software deployed in the process industries are improving product quality and operational efficiency," according to Himanshu, Shah Senior Analyst and key author of ARC's Automation and Software Expenditures for Process Industries Market Research Report.

Process Automation Market Trends

In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:

  • Virtualization 
  • Software Convergence
  • Operations Management
  • Operational Technology (OT) and Information Technology (IT) Convergence 
  • Open Process Automation
  • Moving to the Edge
  • Industry 4.0 and NAMUR Open Architecture 
  • Fieldbus Technology and Wireless I/O
  • Configurable/Characterizable I/O 
  • Cloud Computing

Leading Suppliers to the Total Automation Expenditures for Process Market Identified

In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ABB, Emerson Automation Solutions, Honeywell, Rockwell Automation, Siemens.

About the Automation Expenditures for Process Industries Research

Process Automation Market TrendsThe Automation and Software Expenditures for Process Industries report explores the current and future market performance and related technology and business trends. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts and 5 years of historical analysis segmented by World Region, Industry, and Product Type.

This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:

  • Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports. Available with 5 years of historical analysis.
  • Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.

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