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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Increasing Emphasis on Boosting Productivity to Augment the Market Growth of Process Automation
The global process automation market is driven by the growing emphasis on increasing productivity and removing hazardous manual tasks. The market in North America is highly matured and is a preferable region to absorb advanced innovations, strategic partnerships, and product collaborations among industries, including oil and gas, metals and mining, pharmaceuticals, and chemicals, among others, further enhancing the market growth for process automation. Latin America, being near North America, has the potential to extend process automation contracts in the sector of oil and gas and mining, in the long run, providing impetus to the market growth. The global automation players have a presence in major Latin American countries, including Chile, Brazil, and Argentina. In the Asia Pacific, the market is adopting process automation in several industries in developing countries such as India, Indonesia, etc. The Asia Pacific is a lucrative destination for automation suppliers across the globe. The Middle East and Africa offer healthy demand for process automation as well as industrial automation due to a strong grip over oil and gas and mining industries.
Strong demand for productivity via automation and the development of advanced technologies in the forecast period is expected to drive the market in the next five years. The process automation market is driven by operational efficiency, robust growth of SMEs, preference towards the Internet of Things (IoT) and cloud-based automation, and rising demand for smart factories. Mass customization, supply chain synchronization, systems integration, rising R&D and innovation in artificial intelligence, and advancement in the M2M communication technology are the major growth drivers of the market.
With technological advancements taking place, the prominent players are concentrating on the integration of their products with advanced technologies, providing impetus to the market growth. The key players are strategizing on developing products with functional transformation and commercial excellence to be competitive in the field and cater to customers' demands, thus, aiding the market for process automation.
Process Automation Market Report Snapshots
Process Automation Market Size
Process Automation Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 202.54 billion.
The market is projected to grow at a CAGR of 6.6% between 2024 and 2032.
The major market drivers are increasing demand from resource industries, rising importance of removing hazardous manual tasks, and growing emphasis on productivity.
The key trends in the market are robust technological change, rising adoption owing to its improved efficiency, and increasing research and development activities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The applications of process automation in the market include oil and gas, chemicals and mining, general industrial, consumer goods, pharma and biotech, water, technology hardware, automotive, and power, among others.
The types of process automation in the market are discrete automation and process automation.
The major players in the global process automation market are ABB Ltd., Emerson Electric Co., Honeywell International Inc., Siemens AG, Rockwell Automation Inc., and General Electric Company, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124