The global automation instrumentation market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the rapid industrialization across the globe.
Automation and instrumentation are two fundamental aspects of modern industry making it more qualitative and efficient. Automation is refereed as the use of computers and automated machinery for efficient and smooth task execution. Based on output, automation can be broadly divided into three types, which are flexible or job automation, mass or flow, and batch. Instrumentation refers to the machines used for the purpose of monitor, observation, control, and measurement. Instrumentation includes both measuring and controlling functions.
Automation and instrumentation accompaniment each other as instruments are to be used for automation purposes. This also provides communication between automation equipment and robotics. Automation instrumentation offer various benefits to the business, such as improved workplace safety, reduced labor cost, and better product and process consistency.
The COVID-19 pandemic outbreak had negative impact on the market. During the pandemic, the emergency lockdown imposed by government bodies across the globe resulted in decline in demand and supply chain disruption. Additionally, many manufacturing plants limited their production and some plants halted their operations, which hampered the market. The market is expected to recover soon with an uptrend operation as lockdown is gradually lifted in many regions and manufacturing plants are resuming their operations with limited workforce die to subsiding COVID cases.
Market Trends, Drivers, Restraints, and Opportunities
- Growing focus of manufacturing firms on improved efficiency and reduced cost is one of the key factors driving the market growth.
- Increasing labor cost across several industry verticals is projected to boost the market during the forecast period.
- High implementation and set-up cost associated with automation instrumentation acts as a major challenge that can restrict the market growth in the coming years.
- Rising concern regarding lack of product differentiation is expected to hamper the market growth during the projected timeline.
- Surging adoption of industry 4.0 by manufacturing plants is anticipated to create significant growth opportunities for the market.
Scope of the Automation Instrumentation Market Report
The report on the global automation instrumentation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automation Instrumentation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Robots, Information Technology, Numerically Controlled Equipment, Computer-aided Manufacturing, Computer Integrated Manufacturing, and Flexible Manufacturing Systems), Techniques (Operating System, Programmable, Network Instrumentation, and Processor), and End-users (Discrete Industries and Process Industries)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BB Ltd.; Emerson Electric Co.; Siemens AG; Honeywell International Inc.; Rockwell Automation, Inc.; Yokogawa Electric Corp.; and Mitsubishi Electrical Corp.
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Automation Instrumentation Market Segment Insights
Computer-aided manufacturing segment to register a high CAGR
On the basis of types, the market is fragmented into robots, information technology, numerically controlled equipment, computer-aided manufacturing, computer integrated manufacturing, and flexible manufacturing systems. The computer-aided manufacturing segment is projected to register at high CAGR in the projected timeline attributed to benefits offered by it, such as high manufacturing speed, greater reliability, accuracy, and efficiency. However, the flexible manufacturing systems segment is anticipated to register a substantial CAGR during the forecast period owing to improved machine efficiency, lower operational cost, and enhanced product quality.
High accuracy drives the network instrumentation segment
Based on techniques, the global automation instrumentation market is divided into operating system, programmable, network instrumentation, and processor. The network instrumentation segment is estimated to expand at robust growth rate during the forecast period due to high accuracy, improved reliability, and industrial communication. However, the operating system segment is anticipated to expand at a substantial CAGR during the forecast period owing to it provides interface for automation, testing, and manufacturing process.
Discrete industries segment to grow at rapid pace
On the basis of end-users, the market is bifurcated into discrete industries and process industries. The process industries segment is expected to grow at a rapid pace during the forecast period due to improved workplace safety, reduced manual cost, and increased labor productivity. Furthermore, these industries requires advanced simulation and control for various challenging operations, which is driving the segment growth further.
North America to constitute a key market share
In terms of region, the global automation instrumentation market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to the advance technological development and surging R&D facilities in the region. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to rising demand of automation instrumentation from food & beverage, oil & gas, and pharmaceutical industry.
Segments
The global automation instrumentation market has been segmented on the basis of
Types
- Robots
- Information Technology
- Numerically Controlled Equipment
- Computer-aided Manufacturing
- Computer Integrated Manufacturing
- Flexible Manufacturing Systems
Techniques
- Operating System
- Programmable
- Network Instrumentation
- Processor
End-users
- Discrete Industries
- Process Industries
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global automation instrumentation market are BB Ltd.; Emerson Electric Co.; Siemens AG; Honeywell International Inc.; Rockwell Automation, Inc.; Yokogawa Electric Corp.; and Mitsubishi Electrical Corp. Companies are focusing on investments in R&D sector for development of efficient and superior equipment to maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.
For instance, in September 2021, Siemens announced a launch of Sitars IQ, a innovative digitalization range aimed for targeted monitoring of acute measurement points to complete asset administration covering instrumentation for various plants. This solution meets all types of necessities, including condition monitoring of capital assets, apps for smart asset management, Bluetooth connectivity for field devices, smart inventory management, and remote monitoring. In June 2020, Emerson Electric Co. a US based manufacturing company launched ASCO Series 353 pulse valves. These valves are projected to help industry verticals in achieving convenient, effective, and efficient bag cleaning. These valves can also be used in diverse applications, such as power industries, agriculture, cement, pharmaceuticals, metals, mining, and rubber.
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