Process Automation And Instrumentation Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Process Type (Automation, Instrumentation), By Products (Control Valves, Transmitters, Analyzers), By Solution (Programmable Logic Controller, Distributed Control System, Supervisory Control And Data Acquisition, Manufacturing Execution System, Others), By End-User Industry (Oil And Gas, Water And Wastewater, Power, Chemical, Food And Beverage, Pharmaceuticals, Others), And By Geography - Forecasts From 2022 To 2027

The process automation and instrumentation market is projected to expand at a CAGR of 4.28% to grow to US$128.440 billion by 2027, from US$95.790 billion in 2020.

The growing adoption of automation across various end-use industries due to rising production costs and stringent regulations regarding workers’ safety in hazardous working environments is one of the major drivers of the global process automation and instrumentation market. The rising need for energy-efficient processes to minimize material wastage is further driving the demand for these solutions. The growing need for software solutions for the detection and reduction of failures along with technological advancement will bolster the global process automation and instrumentation market growth over the next five years. 

By Process Type

The process automation and instrumentation markets are segmented by process type into automation and instrumentation. The market for process automation solutions will grow at a higher CAGR during the forecast period due to the adoption of automation processes among various end-use industries such as food and beverage, pharmaceuticals, packaging, and pulp and paper among others. Growing concern over workers’ safety in hazardous locations, the need to eliminate human errors and manufacturing cycle time, and the need to manufacture products in a clean and hygienic environment will propel the growth of the process automation market globally.

By End-User Industry

The market is segmented by the end-user industry as oil and gas, water and wastewater, power, chemical, food and beverage, pharmaceuticals, and others. The oil and gas sector accounted for the largest market share in 2016 and is projected to continue its dominance throughout the forecast period. Rising demand for oil and gas worldwide, coupled with technological advances in drilling and exploring activities, will drive the demand for process automation and instrumentation solutions in this hazardous working environment industry. However, declining world oil prices could negatively impact the market growth rate in the near future.   

By Geography

Geographically, the Americas held the largest market size in 2020 and will remain in that position in the coming years owing to the rising investments in the chemical and petrochemical in the region. Major players such as Dow, Exxon, the joint venture of Chevron, and Phillips 66 have built large crackers along the U.S. Gulf of Mexico coast. Furthermore, APAC will witness the fastest regional market growth during the forecast period. This growth is majorly attributed to the growth of end-use industries such as food and beverage, oil and gas, pharmaceuticals, and packaging in the region. Rapid industrialization and expanding urbanization are pushing manufacturers to implement automation solutions on a larger scale.  

Market Developments

• In May 2022, UiPath, a provider of robotic process automation (RPA) software, and airSlate, a workflow automation startup, are collaborating to assist small companies in digitally changing their organizations using RPA. According to the companies, they hope to broaden the variety of small businesses for them to become completely automated.
• In April 2022, UiPath, a major corporate automation software provider, announced a collaboration with NCS to offer enterprise-grade automation capabilities. The collaboration aims to assist NCS in its journey to become Asia Pacific's major technology services firm through an automation-first system that promotes delivery.
• In August 2021, Robocorp, a process automation company, announced new programs to help partners deliver automation to businesses in a variety of industries and throughout the world. The expanded program includes the establishment of Partner Central, a collection of materials to assist Robocorp partners in their marketing, building, and sales activities, as well as chances for partners to participate in the future development and extension of Robocorp products.

Product Offerings

• Mitsubishi Electric Corporation offers industrial robots such as the MELFA Smart Plus, which is ideal for a wide range of applications, from large-volume manufacturing of foodstuffs and medicines that requires quick operation to assembling components that require high degrees of precision. It is built to endure environmental conditions and is simple to install.
• Omron provides the R88M-1A / R88D-1SAN-ECT, which has a power range of 200W to 3kW and a high encoder resolution of 20 bits, as well as a battery-free precise multi-turn encoder. The 1S servo driver with motion safety capability protects machine operators from deadly accidents and allows for reduced machine downtime.

Process Automation And Instrumentation Market Scope:

Segmentation

• By Process Type
  • Automation
  • Instrumentation
• By Product
  • Control Valves
  • Transmitters
  • Analyzers
• By Solution
  • Programmable Logic Controller (PLC)
  • Distributed Control System (DCS)
  • Supervisory Control and Data Acquisition (SCADA)
  • Manufacturing Execution System (MES)
  • Others
• By End-User Industry
  • Oil and Gas
  • Water and Wastewater
  • Power
  • Chemical
  • Food and Beverage
  • Pharmaceuticals
  • Others
• By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others