The analysts forecast global plant automation solutions market to grow at a CAGR of 6.47% during the period 2016-2020. This report covers the present scenario and the growth prospects of the global plant automation solutions market for 2016-2020.
The following companies are the key players in the global plant automation solutions market: ABB Electric, Emerson Electric, Honeywell International, Rockwell Automation, Schneider Electric, and Siemens. Other prominent vendors in the market are: Control Systems International, Dassault Systèmes, General Elecric, Hitachi Group, Idec, Keyence, Koyo Electronics, Metso, Mitsubishi Electric, Mitsubishi Heavy Industries, Omron, Panasonic, Toshiba International, and Yokogawa Electric.
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According to the plant automation solutions market more industrial regulations and sharper scrutiny by regulatory bodies has encouraged enterprises to pursue the implementation of automation solutions. Many industry regulators are mandating strict technical norms designed to reduce carbon dioxide emissions in the power and oil and gas industries; to govern the permissible impurity range in the water and wastewater treatment industries; and to prevent adulteration of the permissible chemical content in the food and beverage industries. Such regulations are also designed to reduce chemical contamination and prevent industrial accidents in the chemicals and petrochemicals, fertilizers, oil and gas, power and cement industries.
The global plant automation solutions market current trend is the increased focus on industrial IoT. The Internet of Things (IoT) electronically connects industrial equipment with unique identifiers. IoT boosts efficiency, and enables the transfer of data across the network without human-to-computer or human-to-human interaction. It is an emerging technology trend, which will boost a company by ushering in a new era of economic growth and competitiveness.
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Global Plant Automation Solutions Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Plant automation encompasses various technologies starting from acquisition of raw materials to distribution of final products, and represents a revolution in the manufacturing industry. An automation control solution enables organizations in the process and discrete industries to increase the overall efficiency and functioning. It enables collection of data from field devices, which gives a competitive edge to end-users; allows uninterrupted system operations; provides accurate and real-time information to companies; improves efficiency metrics; and reduces total expenditure.
Further, the report states that apprehension among end-users for automation solutions may delay adoption and market growth.
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