TMCnet News
Key Findings of the Global Process Automation and Instrumentation Market| TechnavioThe latest market research report by Technavio on the global process automation and instrumentation market predict the market revenue to reach USD 92 billion by 2022. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180130005854/en/ 
Technavio has published a new market research report on the global process automation and instrumentation market 2018-2022 under their industrial automation library. (Graphic: Business Wire) The report segments the global process automation and instrumentation market by product (process automation PA and process instrumentation PI), by end-user (oil and gas industry, power, chemical and petrochemical, and water and wastewater), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges. Here are some key findings of the global process automation and instrumentation market, according to Technavio industrial automation researchers:
Save more with Technavio. Buy 2 reports and get the third for free: View Technavio's latest discounts and promotions. Adoption of multivendor portable applications: a major market driver The global process automation and instrumentation market vendors have come up with multivendor portable applications that support standardized products from different vendors. High adoption of process automation and instrumentation products across industries is possible due to the adoption of such applications. End-users can select from the cost-efficient products of different vendors or to select the highly efficient products based on their requirements due to the introduction of multivendor portable applications. Such applications are expected to act as a price driver by ensuring a reduction in downtime and reduction in the cost of purchase of the products. Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Americas: largest process automation and instrumentation market The process automation and instrumentation market in the Americas is expected to occupy the maximum share in 2017. However, the market share of the Americas is expected to decline by 2022. According to a senior analyst at Technavio for research on automation, "The growth rate of the process automation and instrumentation market in the other regions such as EMEA and APAC will also establish significant growth during the forecast period." Competitive vendor landscape Through innovation, quality, and price, players are trying to compete in the global process automation and instrumentation market. The competition is expected to intensify with players investing heavily in R&D activities. The market players are expected to increase their global footprint with mergers and acquisitions and collaboration with various regional or local players in the market. Get a sample copy of the global process automation and instrumentation market report free of cost Access Technavio's continuously growing automation research library and find expert analysis on hundreds of markets. About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20180130005854/en/ |
