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Global Process Automation Industry Report: Country Overview; Value Chain Analysis; Production Process; Trade Analysis; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Pricing Model; Key Supplier Analysis, 2022-2027

Process Automation Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices


The global Process Automation market reached a value of about USD178 billion in 2021. The industry is projected to grow at a CAGR of around 6.6% in the forecast period of 2022-2027 to reach a value of about USD 261 billion by 2027.

The global Process Automation industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The growing need to automate tasks in various industries drives the market's growth. In the industry report, the key demand indicator is the highest category spender by region—North America and Europe.

Industry Definition and Segmentation

Process automation or automation system (PAS) is a device that automates the control of a process at a facility such as a chemical plant, an oil refinery, or a paper and pulp mill. Sensors, actuators, computer technology, and software engineering are used in process automation to assist power plants and factories. It is a method of automating complex commercial processes via technology. It usually serves three purposes: automating operations, centralising information, and eliminating the need for human input. It is intended to eliminate bottlenecks, decrease mistakes, and prevent data loss while boosting transparency, cross-departmental collaboration, and processing speed. The Process Automation industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The North American and European Regions are Driving the Growth of the Industry

The North American and European region holds the largest share of the market. North America's market is mature, making it a better place to absorb sophisticated technologies, strategic alliances, and product collaborations from sectors such as oil and gas, metals and mining, pharmaceuticals, chemicals, and others, boosting process automation's growth.

The industry is being driven by the benefits of an automated industry that has enticed companies who operate non-automated process industries. Such businesses are investing in upgrading their process facilities, fueling the process automation industry. Process automation is becoming more popular among industrial players due to its energy efficiency, cost efficiency, and shorter time to market concepts, which is helping the process automation market. The process automation market is aided by the fact that one of the primary concerns of enterprises these days is to raise their sustainability in terms of energy cost and resource efficiency. Process automation allows for greater asset management and industrial flexibility. The most prolific growth factors in the process automation industry are industrial automation and factory automation. The growing need to reduce human contact in various processes to save money on labour and reduce mistakes has opened up a world of possibilities for automated systems in the industrial sector. Another aspect pushing the market is the expanding government incentive scheme and rising labour costs.

However, the high cost of installing the systems hinders the industry's growth.

Best Procurement Practices

The global Process Automation industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Process Automation regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Process automation makes this easier by placing sensors in hundreds of locations around the plant that collect data on temperatures, pressures, and flows, among other things. On a widescreen in a control room, the information is recorded and evaluated, and the entire plant and each piece of manufacturing equipment can be monitored. The operational settings of the plant are then automatically modified to generate the best possible output. When required, plant operators can override the process automation systems manually. The computer software in process automation employs measurements to illustrate how the plant works and simulate several operating modes and discover the best strategy for the plant. This software's capacity to "learn" and forecast patterns is a standout feature, helping to reduce response time to changing situations. The software and controls set the equipment to run at the fastest possible speed while using the least energy. They also maintain quality consistency, which means less energy is squandered making defective goods. They anticipate when maintenance is required, which means less time and energy is spent stopping and restarting equipment for periodic inspections.

Technological Advancements in the Systems, Further Propelling the Process Automation Market

The market is witnessing growth due to technological advancements in the industry, such as Bluetooth, WLAN, and VoIP, to process automation. The second trend is for businesses to transfer data from their equipment directly to the cloud or link industrial devices to the cloud. Integration of big data analytics and automation is another trend. The current trend in the process automation sector is the 'Industry 4.0' industrial revolution. Cooperative robots are becoming more popular in the process automation business. Some of the industry's key growth factors include the need for operational efficiency, rapidly growing SMEs, a growing inclination toward the Internet of Things (IoT) and cloud-based automation, increasing demand for smart factories, mass customisation, supply chain synchronisation, system integration through system integrators or SI, increasing R&D, artificial intelligence (AI), and advancement in M2M communication technology.
 
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Process Automation Industry Report

  • ABB Ltd.
  • Emerson Electric Co.
  • Honeywell International, Inc.
  • Siemens AG
  • Rockwell Automation, Inc.
  • General Electric Company

Market Landscape

Manufacturers are looking for methods to save money, increase efficiency, and increase production in process automation. Suppliers continue to spend on product development and market penetration to meet this underlying demand. The top ten providers in the market are fiercely competitive, with the top ten capturing almost 58 percent of the worldwide automation market share. Sourcing from various regional vendors or a single global supplier that produces high-quality items is one of the newer engagement tactics.

Key Initiatives by Companies

  • UiPath and Automation Anywhere: While the former received $3 billion in Series C investment in September 2018, the latter received $300 million in November 2018 from SoftBank Vision Fund, bringing its total worth to $2.6 billion.

1.    Executive Summary
2.    Global Process Automation Market Snapshot

    2.1.    Process Automation Market Outlook 
    2.2.    Process Automation Industry Analysis By End-Use
        2.2.1.    Oil & Gas
        2.2.2.    Chemicals & Mining
        2.2.3.    General Industrial
        2.2.4.    Consumer Goods
        2.2.5.    Pharma & Biotech
        2.2.6.    Water
        2.2.7.    Technology Hardware
        2.2.8.    Automotive
        2.2.9.    Power
    2.3.    Regional Overview
        2.3.1.    North America
        2.3.2.    Europe
        2.3.3.    Asia Pacific 
        2.3.4.    Latin America
        2.3.5.    Middle East & Africa
3.    Impact of Recent Events 
4.    Process Automation Value Chain Analysis 
5.    Trade Analysis 
6.    Major Risk Factors in Sourcing
7.    Process Automation Cost Structure
8.    Process Automation Price Analysis 
9.    Key Demand Indicator Analysis
10.    Key Price Indicator Analysis
11.    Process Automation Market Dynamics

    11.1.    Drivers & Constraints
    11.2.    Industry Events 
    11.3.    Innovations & Trends
    11.4.    SWOT Analysis
    11.5.    Porter’s Five Forces
        11.5.1.    Buyer Power
        11.5.2.    Supplier Power
        11.5.3.    Threat of New entrants
        11.5.4.    Threat of Substitutes
        11.5.5.    Industry Rivalry
12.    Industry Best Practices
    12.1.    Sourcing Strategy
    12.2.    Procurement Model
    12.3.    Contract Structure
    12.4.    Negotiation Levers
    12.5.    Pricing Model
    12.6.    Key Factors Influencing the Quotation 
13.    Key Supplier Analysis
    13.1.    ABB Ltd.
    13.2.    Emerson Electric Co.
    13.3.    Honeywell International, Inc.
    13.4.    Siemens AG
    13.5.    Rockwell Automation, Inc.
    13.6.    General Electric Company

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Key Questions Answered in the Report

The global Process Automation market size was valued at USD 178 billion in 2021.

As per the type provided, the Discrete automation segment is anticipated to lead the market between the period 2022 – 2027.

The significant demand for automation in a wide range of industries is one of the essential drivers of the Process Automation market growth.

ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Siemens AG, Rockwell Automation, Inc., and General Electric Company are some of the key companies in the market.

The North America and Europe region of the Process Automation industry holds a significant share in the market.

Analyst Review

The global Process Automation market attained a value of USD178 billion in 2021, driven by the benefits of an automated industry that has enticed companies who operate in non-automated process industries. Process automation offers energy efficiency, cost efficiency, and shorter time to market concepts, furthering the industry's expansion. Aided by the growing technological advancements, like the integration of Bluetooth, WLAN, VoIP, Internet of Things (IoT), cloud-based automation, artificial intelligence (AI), and progress in M2M communication technology, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6.6%. The market is projected to reach USD 261 billion by 2027. Some of the leading players in the industry are ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Siemens AG, Rockwell Automation, Inc., and General Electric Company.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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