Process Automation and Instrumentation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Process Automation & Instrumentation Market is Segmented by Instruments (Field Instrument, Control Valve, Analytical Instruments), Solutions (Advanced Process Control (APC), Distributed Control System (DCS), Human Machine Interaction (HMI), Manufacturing Execution System, Programmable Logic Controller, Safety Automation, Supervisory Control and Data Acquisition (SCADA)), End-user Industry (Oil and Gas, Food and Beverage, Pharmaceutical and Biopharma, Chemical and Petrochemical), and Geography (North America, Europe, Asia Pacific, South America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Process Automation and Instrumentation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Process Automation & Instrumentation Industry Overview

The market for process automation and instrumentation is moderately fragmented, with the presence of many key players operating in the segment with almost similar market presence globally. Also, the market ecosystem is subjected to high initial costs and high competition from established players, including ABB, Honeywell, and Rockwell Automation, among others, increasing the barrier for new entrants into the market. In November 2022, ABB Measurement & Analytics opened its first smart instrumentation factory in Bangalore, India. According to the company, the new plant will manufacture field devices such as temperature and pressure transmitters, IP converters, and electromagnetic flowmeters for various industries, including power, pharmaceutical, oil and gas, water, and other segments. In August 2022, the OPC Foundation (OPCF) and the FieldComm Group (FCG) announced a collaboration to drive multi-vendor interoperability of OPC UA-based instrumentation devices and the extensions for the field level, named OPC UA FX (Field eXchange). This development is aimed at providing an interoperable interface between PLC / DCS and instrumentation devices, such as actuators, transmitters, and instruments.

Process Automation & Instrumentation Market Leaders

  1. ABB Limited

  2. Rockwell Automation, Inc

  3. Emerson Electric Co.

  4. Honeywell International, Inc.

  5. Schneider Electric SE

  6. *Disclaimer: Major Players sorted in no particular order
Process Automation and Instrumentation Market - Competitive Landscape