The Worldwide Process Instrumentation Industry is Expected to Reach $28.8 Billion by 2027: Need for Efficient Energy Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 13, 2023--
The “Global Process Instrumentation Market (2022-2027) by Technology, Type of Instruments, Communication Protocol, End-User, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Process Instrumentation Market is estimated to be USD 22.56 Bn in 2022 and is expected to reach USD 28.81 Bn by 2027, growing at a CAGR of 5.01%.
Market dynamics are forces that impact the prices and behaviors of the Global Process Instrumentation Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors.
There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing risks.
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
The report presents a detailed Ansoff matrix analysis for the Global Process Instrumentation Market. Ansoff Matrix, also known as the Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Process Instrumentation Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Process Instrumentation Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst’s competitive positioning tool.
- Need for Efficient Energy
- Increase in Demand in Various Industries
- Increasing Labor Cost with Modernization and Migration Services
- Limited Availability of Skilled Professionals
- Stagnant Growth in Developed Markets
- Growing Demand for the Multi-Variable Pressure Transmitter
- Potential in Emerging Economies
- Evolving Cyber Security Threats
The Global Process Instrumentation Market is segmented based on Technology, Type of Instruments, Communication Protocol, End-User, and Geography.
- By Technology, the market is classified into Distributed Control System (DCS), Manufacturing Execution System (MES), Programmable Logic Controller (PLC), and Supervisory Control and Data Acquisition (SCADA).
- By Type of Instruments, the market is classified into Analyzer, Control Valve, and Actuator.
- By Communication Protocol, the market is classified into Wired Communication Protocol and Wireless Communication Protocol.
- By End-User, the market is classified into Agriculture & Livestock, Aircraft, Automotive, Healthcare & Pharmaceutical, Household, Mining & Metals, Oil & Gas, Power Generation, and Water/Wastewater Treatment.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.
- Yokogawa Electric Corp.
- Siemens AG
- Endress+Hauser Group Services AG
- ABB ltd
- Emerson Electric Co.
- Honeywell International Inc.
- Schneider Electric
- Fuji Electric Co. Ltd.
- GE Measurement & Control Solutions
- WIKA Alexander Wiegand SE & Co. KG
- OMEGA Engineering Inc.
- Rotronic Instrument Corp.
- OAKTON Instruments
- Krohne Marshall Pvt Ltd
- Badger Meter, Inc.
- HK Instruments
- OJ Electronics A/S
- S+S Regaltechnick
- CAREL INDUSTRIES S.p.A.
For more information about this report visit https://www.researchandmarkets.com/r/60dks4
View source version on businesswire.com:https://www.businesswire.com/news/home/20230113005221/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE
SOURCE: Research and Markets
Copyright Business Wire 2023.
PUB: 01/13/2023 06:35 AM/DISC: 01/13/2023 06:35 AM