The Global Process Automation market is valued at USD 100.14 billion in 2016 and is expected to reach a value of USD 161.3 billion by the end of 2022, growing at a projected CAGR of 8.27 % during the forecast period of 2017 – 2022. The process of automation has become an important part of modern manufacturing and industrial processes. It helps enterprises to realize highquality products at profitable prices and also aids in developing superior technologies to reduce operational constraints. The companies all over the world are automating their processes with the help of different technologies like SCADA, DCS, MES and PLC. The demand for these technologies is growing steadily and many vendors are manufacturing solutions to help enterprises achieve efficiency in their manufacturing processes.
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Drivers: 1. Government incentives for the manufacturing industry 2. Environmental regulations and safety standards to maintain 3. The cost of solutions has been reducing consistently and increase in labor market wages
Restraints: 1. The economic activity still has to pick up in several countries owing to the global recession of 2008. 2. The market has reached a stagnant position in several developed countries. Vendors have to look out for new avenues for their products. 3. Some of the key vendors in the process automation market are ABB, Siemens, Schneider
Electric, Honeywell and Rockwell Automation.
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SPECIALITIES OF THIS REPORT: The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half of the decade.
The report will be an ideal source of material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the
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