According to ARC Advisory Group’s new research, the outlook remains positive for capital investments in automation products 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. Sustainability initiatives are also driving investments in automation. Governments around the world have shown an increasing appetite toward investing to become less dependent on unreliable foreign suppliers of energy. This increased focus on energy security helped drive investment activity in nuclear, LNG, and even fossil fuel power plants. Sustainability goals and environmental, social, and governance (ESG) mandates have taken the forefront of every business sector. For many of the heavy process industries, decarbonization impacts the entire value chain, including raw materials, manufacturing products, materials and components, as well as consumption by consumers and disposal.
"Digital transformation is well underway in the process automation sector, and the service mix of automation suppliers is evolving to meet the needs of the digitally-focused industrial economy. Automation suppliers are aggressively targeting IIoT-enabled services for remote monitoring and support of their customers’ plant assets. Additionally, the increasing application of artificial intelligence (AI) to address challenges across the plant lifecycle helps not only to fill the skills gap left by retiring workers, but also gives suppliers additional tools to perform predictive analytics and provide guidance to users on how to improve plant operations, increase maintenance effectiveness, and avoid unplanned downtime," according to Allen Avery, Senior Analyst and key author of ARC's Total Process Automation Systems Market Research.
Total Process Automation Systems Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Safety and Security
- Digital Transportation Impact on MES
- Cybersecurity's Rising Role in Safety Systems
- Software-Defined Everything
- Integration of Advanced Technologies
- AI for Seed Models
- Connected Machines and Digitalization
- Energy Transition
Leading Suppliers to the Total Process Automation Systems 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, Honeywell, Rockwell Automation, Schneider Electric, and Siemens.
About the Total Process Automation Systems Research
The Total Process Automation Systems research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. 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. The research segmentation includes World Region, Industry, Product Type.
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