The report, now available on ASDReports, recognizes the following companies as the key players in the Global Process Automation and Instrumentation Market: ABB, Honeywell, Mitsubishi Electric and Siemens
Other Prominent Vendors in the market are: Emerson, Danaher, Omron, Rockwell, Schneider, and Yokogawa.
Commenting on the report, an analyst said: “Cloud computing technology has become popular among organizations as it offers tremendous space for data storage, provides flexibility, enables better scalability, and provides uninterrupted data access. Automation plays a major role in cloud computing for industries. For example, DCS has been the preferred automation solution in the oil and gas industry as it is bundled with features designed to handle a variety of complex processes.”
According to the report, the need to mitigate the impact of rising labor costs has prompted companies to embrace automation technologies. The labor costs in Austria, China, Australia, Germany, and the US grew over the last decade by 6%-10%. The food and beverage (F&B) industry is focusing on automation and instrumentation to raise productivity and mitigate the impact of high labor costs.
Further, the report states that end-users are reluctant to use new and advanced automation processes, as they are wary of the downtime arising from the changes in technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.