This industry research report outlines the growth prospects and segmentation of the global automation market in chemicals and petrochemicals industry by product (DCS, SCADA, PLC, MES, and APC). It further details the market shares of key regions such as the Americas, EMEA, and APAC. The report also presents a complete analysis of the top vendors operating in the market, including ABB, Emerson Electric, Honeywell International, Siemens and Yokogawa Electric.
Technavio’s market research analysts estimate the global automation market in chemicals and petrochemicals industry to grow at a CAGR of more than 7.5% between 2016 and 2020. The chemicals and petrochemicals industry across the globe is adopting automation solutions due to the growing R&D investments and new projects in this sector. APAC dominates the global market for automation in chemicals and petrochemicals industry, growing at a market growth rate of 10%. The growing use of automation solutions in the aerospace, automotive, and energy industries will boost the demand for chemicals and petrochemicals in APAC.
The new market research report from Technavio provides a breakdown and analysis of the automation market in chemicals and petrochemicals segments by technology.
“One of the interesting trends in this market is the growing appliaction of cloud computing and big data analytics. Cloud-based automation solutions increase the data storage facilities, boost operational flexibility, and improve scalability in manufacturing processes. They provide a centralized process which is reliable and easy to manage. Through cloud services and big analytics implementation, the manufacturers develop a customer-centric approach, which eventually improves the product life cycle management and supply chain management (SCM),” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The manufacturing execution system (MES) software is the major revenue generating segment of the automation market in chemicals and petrochemicals industry. Being an IT-based manufacturing system, MES manages and controls the overall manufacturing operations.
The key vendors in the global automation market in chemicals and petrochemicals industry include ABB, Emerson Electric, Honeywell International, Siemens and Yokogawa Electric. Though the market is dominated by few major players, the local and regional vendors provide highly customized solutions with high integration abilities at lower prices. The competition in this market is expected to intensify during the forecast period, following product extensions, technological innovations, and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Automation Market in Chemicals and Petrochemicals Industry 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Process Automation and Instrumentation Market 2016-2020
- Petrochemicals Market in MENA 2015-2019
- Automation and Instrumentation Market in Chemical and Petrochemical Industry in Europe 2015-2019
- Global Industrial Automation Services Market 2015-2019
- Global Industrial Automation Market in Chemical and Petrochemical Industry 2014-2018
