New ARC Advisory Group research on the Automation and Software Expenditures in the Process Industries Market reveals that after a few years of tepid growth, the global process automation market recovered strongly during 2018. The short-term outlook is for steady, though modest, growth as the market continues to face long-term economic uncertainty.
“Much of the growth seen in the global automation market during 2018 can be attributed to an uptick in deferred MRO activities as process manufacturers finally pulled the trigger on several maintenance and upgrade projects that had been deferred during the most recent downturn,” according to Allen Avery, Senior Analyst at ARC Advisory Group and key author of ARC’s Automation & Software Expenditures in the Process Industries Global Market Research report.
“Despite the recent return to growth in major global economies and rising prices for key commodities, major end users remain uncertain about how long these rallies will last as they navigate the ongoing trade war, and producers ramping up production once again in response to the rising commodity prices,” added Avery.
About the Automation and Software Expenditures in the Process Industries Research
This ARC market research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the process automation market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques. The research includes competitive analysis, plus five-year market forecasts by 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 a:
- Market Intelligence Workbook (Excel) – personalized spreadsheet includes the current base year market data, two years of history, and 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.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.