The manufacturing and process control market is expected to see considerable growth due to increased demand for process control systems in various manufacturing sectors. In the manufacturing sector, process control systems are installed to monitor and control production processes to achieve improved product quality and accuracy. The widest applications of industrial and process control systems are in industries such as automotive, electronics and semiconductors, pharmaceuticals, textiles, chemicals, and packaging.
These systems also have applications in other industries such as oil and gas, mining and minerals, and food and beverage. These segments are expected to have the most promise and provide stable markets for manufacturing and process control systems during the forecast period. Major companies operating in the process control market include ABB Group, Honeywell International Inc., Rockwell Automation Inc., Schneider Electric, Bosch Group, Endress+Hauser, and Emerson Electric Corporation.
The major drivers of market growth will be increasing demand of industrial automation, rising demand for industrialized robots, government initiatives and strategies intended to encourage the manufacturing industry, increasing adoption of smart manufacturing across industries, and the growing need for large-scale manufacturing. In contrast, restraining factors that are expected to hamper market growth during the forecast period include the high initial cost of implementing industrial automation in manufacturing, a lack of awareness of automation systems, and limited availability of a labor force to operate such systems.
Research on this subject that process control will play a major role in the development of quality products in a range of sectors, through assistance with industrial automation and other devices such as sensors and relays. With the latest technological developments, the market’s operations and applications have spread from North America to Asia and Europe and across the globe. Thus, remarkable growth in the manufacturing and process control market is expected through the end of 2025.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA regions. Asia-Pacific held the largest market share in 2019 due to the large number of companies using process control systems in the region. In this region, most demand is generated from Japan and China as this is where the majority of market players are located. North America held the second largest share of the global market in 2019 and has substantial market potential for the manufacturing and process control market.