Global Industrial Automation Market in Chemical and Petrochemical Industry 2019-2023 | Evolving Opportunities with ABB and Honeywell International Inc. | Technavio
LONDON--(BUSINESS WIRE)--Jan 22, 2020--
Technavio has been monitoring the global industrial automation market in chemical and petrochemical industry since 2014 and the market is poised to grow by USD 2.79 billion during 2019-2023, progressing at a CAGR of almost 8% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global industrial automation market in chemical and petrochemical industry 2019-2023. (Graphic: Business Wire)
Read the 144-page report with TOC on “Industrial Automation Market in Chemical and Petrochemical Industry Analysis Report by Product (DCS, SCADA, MES, PLC, and APC), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2019-2023”.
The market is driven by technological advances in control systems. In addition, the rise in the demand for main automation contractors (MACs) is anticipated to boost the growth of the industrial automation market in chemical and petrochemical industry.
The growing need for fast and accurate systems in the process and discrete industries has led to technological advancements in automation control systems. Factors such as advances in sensor technology and the reduction in the cost of sensors have led to the development of wireless sensors that offer flexibility in installation. With the reduction in the size of circuit boards, controllers, and semiconductors, vendors are introducing miniature versions of automation control systems. Vendors are also incorporating advanced features such as faster processors, increased memory capacity, and new communication features to help the chemical and petrochemical industry operators handle complex operations. Many such technological advances in automation control systems are expected to have a positive impact on the growth of the market during the forecast period.
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Major Five Industrial Automation Market Companies:
ABB operates its business through segments such as Electrification Products, Robotics and Motion, Industrial Automation, and Power Grids. The company offers a wide range of industrial automation systems. The company offers a wide range of industrial automation systems under product segments such as SCADA, DCS, PLC, MES, and APC.
Honeywell International Inc.
Honeywell International inc. operates its business through segments such as Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers a wide range of industrial automation systems under product segments such as DCS, SCADA, APC, and MES.
Rockwell Automation, Inc.
Rockwell Automation, Inc. operates its business through segments such as Architecture & Software and Control Products & Solutions. The company offers a wide range of industrial automation systems under product segments such as SCADA, DCS, PLC, and APC.
Schneider Electric operates its business through segments such as Low Voltage, Medium Voltage, Industrial Automation, and Secure Power. Under SCADA, the company offers EcoStruxure, Citect, OASyS, and InTouch Edge HMI. Also, under DCS, the company offers EcoStruxure Foxboro.
Siemens operates its business through segments such as Power and Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drives, Financial Services, Siemens Healthineers, and Siemens Gamesa Renewable Energy. The company offers a wide range of industrial automation systems under product segments such as SCADA, DCS, MES, and APC.
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Industrial Automation Product Outlook (Revenue, USD Billion, 2019 - 2023)
Industrial Automation Regional Outlook (Revenue, USD Billion, 2019 - 2023)
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Related Reports on Industrials are:
Global Industrial Automation Control Market – Global industrial automation control market by geography (APAC, Europe, MEA, North America, and South America), product (sensors, DCS, Drives, SCADA, and PLC), and end-users (process industry and discrete industry).
Global Industrial Automation Services Market – Global industrial automation services market by geography (APAC, Europe, MEA, North America, and South America), service (PE, M&S, OS, and consulting), and end-users (process industries and discrete industries).
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