AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Industrial Control for Process Automation Market Growth, Trends, and Forecast Report 2019-2024 - ResearchAndMarkets.com

December 20, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Dec 20, 2019--

The “Industrial Control for Process Automation Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.

The industrial control for process automation market is expected to register a CAGR of 8.5% during the forecast period 2019-2024

The Internet of Things (IIoT) and Industrial 4.0 are dominating trends in the industrial sector, with machinery and devices being connected via the internet.

The number of IoT connected devices rose to 20.35 billion in 2017 from 15.41 billion in 2015 and is expected to reach 51.11 billion by 2023, given the huge push from the investment of the technology providers through continuous research and development. To operate these increasing number of connected devices and machine-to-machine connection in the manufacturing industry, the need for control and supervision is expected to become more prominent; this can be attributed to the increase of network-connected and controlled devices and systems.

Key Market Trends

Paper and Pulp Segment is Expected to Register a Significant Growth

Asia-Pacific to be the Fastest Growing Market

Competitive Landscape

The industrial control for process automation market is fragmented. The market is highly competitive due to the presence of many small and large players. Some of the key players include ABB Ltd., Schneider Electric, Honeywell International Inc., Siemens AG, Rockwell Automation, Omron Co., General Electric Co., among others.

MARKET DYNAMICS

Market Drivers

Market Restraints

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/vuyt5g

View source version on businesswire.com:https://www.businesswire.com/news/home/20191220005135/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 12/20/2019 04:11 AM/DISC: 12/20/2019 04:11 AM

http://www.businesswire.com/news/home/20191220005135/en