Process Automation & Instrumentation Market Overview
Process Automation and Instrumentation Market Size were valued at USD 3.8 billion in 2022. The Process Automation and Instrumentation market industry is projected to grow from USD 4.0 Billion in 2023 to USD 5.9 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period (2023 - 2030).
The demand for Process Automation & Instrumentation (PA&I) solutions is experiencing significant growth driven by several factors. Industries such as manufacturing, oil and gas, chemicals, pharmaceuticals, and utilities are increasingly adopting automation technologies to improve operational efficiency, enhance productivity, and ensure regulatory compliance. Process automation solutions, including distributed control systems (DCS), programmable logic controllers (PLC), supervisory control and data acquisition (SCADA) systems, and industrial robots, streamline production processes, reduce labor costs, and minimize errors. Furthermore, the integration of advanced instrumentation technologies such as sensors, actuators, and analyzers enables real-time monitoring, data collection, and analysis, facilitating predictive maintenance, quality control, and optimization of processes. Additionally, the growing focus on digital transformation, Industry 4.0 initiatives, and the Industrial Internet of Things (IIoT) is driving the adoption of PA&I solutions to create connected, intelligent, and agile manufacturing environments.
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Process Automation & Instrumentation Industry News
In the year 2020, Emerson Electric Company announced RXi industrial display and panel PC products launch. This product launch is projected to minimize the cost of industrial applications. Additionally, this will help many scientists and companies to improve the developmental processes in fields like power, Life Science, machinery, water, and manufacturing.
Process Automation & Instrumentation Market Segmentation
The Process Automation and Instrumentation Market Trends have been divided into the solution, instrument, and industry. Depending on the solution category segment, the global market has been classified into DCS, PLC, Functional safety, SCADA, APC, MES, HMI, etc. The HMI segment is registered to grow at the highest CAGR during the research period.
The global market has been divided into control valves, field instruments, and analytical instruments in terms of instrument segment. Of all, the field instrument segment is expected to account for the largest market share.
Based on the industry segment, the worldwide market has been categorized into energy and power, food and beverages, metals & mining, chemicals, pharmaceuticals, water & wastewater, oil & gas, and others. Among all, the pharmaceuticals industry is predicted to register the highest CAGR.
Process Automation & Instrumentation Market Regional Analysis
Based on the regional segment, the global industry has been classified into different regions such as Europe, Asia Pacific, North America, and others. Of these, the North American regional market is predicted to create the highest Process Automation and Instrumentation Market Size during the research period due to the growing investment from the government in petrochemicals, matured industrial sectors, and the high technological advancement in the region.
For instance, the European regional market is projected to expand its market share in the forecast period. This region is fueling market growth due to the strict environmental and industrial regulations in the region.
In the Process Automation and Instrumentation Market Trends, the second-largest contributing region in the Asia Pacific region. This region is expanding the market size due to the high requirements of process automation and instrumentation in many countries of Asia for oil refineries. Further, the growing efficiency of the global market is boosting up the market of the rest of the world.
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