Global Process Automation and Instrumentation Market size and share is currently valued at USD 74.17 billion in 2024 and is anticipated to generate an estimated revenue of USD 130.34 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.8% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
Market Overview:
The process automation and instrumentation market is an essential component of industrial operations, providing critical solutions for automating complex processes and ensuring the efficient functioning of plants, factories, and production facilities. These technologies are widely used in industries such as oil and gas, chemicals, power generation, pharmaceuticals, food and beverages, and automotive, enabling businesses to enhance productivity, reduce errors, and improve safety.
Process automation involves the use of control systems like programmable logic controllers (PLCs), distributed control systems (DCS), and supervisory control and data acquisition (SCADA) systems to monitor and control industrial processes. Instrumentation refers to the devices and sensors used to measure and control variables such as temperature, pressure, flow, and level, which are critical in maintaining the quality and efficiency of operations.
Market Growth Drivers:
The growth of the process automation and instrumentation market is driven by several key factors:
- Increasing Demand for Operational Efficiency
Companies across industries are focusing on optimizing production processes to reduce costs and improve efficiency. Automation reduces the need for human intervention, minimizing errors and maximizing throughput. - Advancements in Industrial IoT (IIoT)
The proliferation of IIoT devices allows for real-time monitoring and data analytics, which leads to more intelligent automation solutions. IIoT enables predictive maintenance and enhances process optimization, driving the demand for automation and instrumentation. - Stringent Regulatory Standards
Industries like pharmaceuticals, food and beverages, and chemicals are subject to strict regulatory standards. Automation and instrumentation help ensure compliance by maintaining consistent quality and reducing human error.
Major Key Players:
- Siemens AG
- Schneider Electric SE
- Yokogawa Electric Corporation
- Honeywell International Inc.
- General Electric Company
- Hitachi Ltd
- Mitsubishi Electric Company
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
Recent Developments in the Process Automation and Instrumentation Industry:
- ABB’s Launch of ABB Ability Symphony Plus SDe Series (March 2024)
ABB introduced the ABB Ability Symphony Plus SDe Series, a range of hardware products designed to upgrade process control systems with minimal disruption. This innovative solution enables plant operators to enhance efficiency and productivity by integrating the latest technologies into their existing systems. - Siemens Unveils Simatic S7-1200 G2 Controllers (April 2024)
Siemens launched the Simatic S7-1200 G2 controllers, expanding their Simatic Controller family. This new version focuses on simplifying automation and programming processes, providing advanced features to help customers streamline their operations. - GE Grid Solutions Launches GridBeats (February 2024)
GE’s Grid Solutions business introduced GridBeats, a comprehensive suite of software-defined automation solutions aimed at driving grid digitalization and improving the resilience of electrical grids. This innovation helps optimize grid operations and enhances overall system performance.
Research Scope:
The research scope of the process automation and instrumentation market includes:
- Technological Advancements
The study covers the latest technological innovations, such as AI, machine learning, and IIoT, and their impact on the evolution of automation systems and instrumentation devices. - Industry Applications
Analysis of various industry sectors utilizing process automation, including oil and gas, chemicals, pharmaceuticals, power generation, food and beverages, and automotive.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Process Automation and Instrumentation Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
- Process Automation and Instrumentation Market, Instrument Outlook (Revenue – USD Billion, 2020-2034)
Field Instruments
Level Transmitters
Pressure Transmitters
Temperature Transmitters
Others
Process Analyzers
- Process Automation and Instrumentation Market, Solution Outlook (Revenue – USD Billion, 2020-2034)
- DCS
- Functional Safety
- HMI
- MES
- PLC
- SCADA
- Process Automation and Instrumentation Market, Industry Outlook (Revenue – USD Billion, 2020-2034)
- Chemicals
- Energy & Power
- Food & Beverages
- Metals & Mining
- Oil & Gas
- Pharmaceuticals
- Pulp & Paper
- Water & Wastewater Treatment
- Others
The process automation and instrumentation market is set to experience continued growth, driven by advancements in AI, IoT, and smart factory initiatives. As industries demand more efficient, cost-effective, and sustainable solutions, the market will increasingly focus on integrating cutting-edge technologies to optimize operations and ensure compliance with evolving standards.