TechNavio recognizes the following companies as the key players in the Global Automation Instrumentation Market: ABB Ltd., Emerson Electric Co., Honeywell International Inc., and Yokogawa Electric Corp.
Commenting on the report, an analyst from TechNavio’s team said: “The development of customized automation solutions is another major trend in the Global Automation Instrumentation market. Several automation instrument vendors face increased competition from other local and regional vendors due to the lack of product differentiation. In order to overcome this problem, several local and regional vendors have started offering customized automation solutions that meet the specific needs of their customers at a competitive price. As a result, several SMEs across various industries, such as Food and Beverages, Pulp and Paper, Chemical, and Petrochemical, opt for these customized automation solutions. This in turn enables several cost-driven organizations to improve their operational performance at minimal cost.”
According to the report, one of the major drivers is the increasing demand for automation instrumentation from process industries. Currently, several organizations across various process industries, including Oil and Gas, Chemical, and Petrochemical, opt for automation instruments in order to enhance their operational efficiency.
Further, the report states that a major challenge in the market is the lack of effective product differentiation. Several automation instrument vendors offer similar kinds of product, thereby forcing the need for market vendors to differentiate their key product concepts in order to sustain their places in the competitive business environment.
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. For further information on this report, please visit https://www.technavio.com/report/global-automation-instrumentation-market…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Global Automation Instrumentation Market 2014-2018
