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Industry 4.0 is a concept that signifies the application of IIoT in industries and the automation of industries. The adoption of smart manufacturing techniques enables the production of high-quality goods at a reduced cost by enhancing the industrial processes in terms of speed, flexibility, and efficiency. Research analysis on the global industrial process field bus (PROFIBUS) market identifies that the high adoption of industry 4.0 will be one of the major factors that will have a positive impact on the growth of the market. The adoption of industry 4.0 boosts the demand for industrial network standards such as PROFIBUS because they enhance the industrial processes by offering a safer communication of data. Countries such as the US, Canada, Germany, China, South Korea, Taiwan, Singapore, Italy, and France are focusing on the advancement of industries. This in turn, will further boost the adoption rate of PROFIBUS. Technavio's market research analysts predict that this market will grow at a CAGR of close to 6% by 2021.
In terms of geography, EMEA contributed to the maximum market shares during 2016 due to the presence of many industries such as oil and gas, power, and automotive in the region. The reduction in oil prices is compelling companies in the oil and gas industry to reduce their costs and maintain their leadership by investing in brownfield projects. This in turn, will boost the scope for the industrial PROFIBUS market in this region during the forecast period.
The industrial PROFIBUS market is fragmented due to the presence of many local, regional, and international players. Vendors in this marketspace develop and offer products specific to the industry because these modules are used for special purposes. The scope for the use of industrial PROFIBUS is high in the power industry in comparison to oil and gas, water and wastewater, and automotive industries. The vendors are constantly focusing on investing in developmental activities to come up with innovative products.
Key vendors in this market are -
Other prominent vendors in the market include Alstom, AMETEK, Applied Materials, Flowserve, Fuji Electric, General Electric, Hitachi, Honeywell International, Invensys, Mitsubishi Electric, and Robert Bosch.
Industries such as the oil and gas, power, food and beverage, and water and wastewater are extensively adopting PROFIBUS PA. PROFIBUS PA is specially designed to work in hazardous environments. This makes customers choose PROFIBUS PA because they can sustain the high criticality of process industries. According to our industry research and analysis, the adoption of PROFIBUS PA in these end-user industries will continue to increase throughout the projected period.
The adoption of PROFIBUS is high in the power industry because they offer fast and precise error recognition of field devices. The power industry extensively relies on PROFIBUS because it provides preventive maintenance for instruments. The power industry will continue to be the largest end-user during the estimated period because PROFIBUS offers faster communication between automation systems and distributed peripherals. Additionally, they also offer an early prediction of sensor failures and damages to the equipment.
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PROFIBUS is a worldwide standard for networks in industrial automation. It is an open-field, supplier independent network standard, which permits applications in process, manufacturing, and automation building. Due to the rapid development of the industrial automation industry, it has become imperative to have universal standards in automation systems to communicate with field devices such as sensors and actuators. The upcoming report on the global industrial PROFIBUS market also identifies some of the vendors competing in this market and affecting the automation sector as Emerson Electric Process Management, 3M, Asea Brown Boveri Ltd., Alstom, AMETEK Inc, Applied Materials Inc., COLAS Group, Flowserve Corporation, Freescale Semiconductor, Fuji Electric, General Electric, Hitachi, Honeywell International Inc, Omron Corporation, Robert Bosch Gmbh, Schneider Electric, Siemens AG, and Yokogawa Electric.
Research analysts at Technavio collect first-hand information by means of primary research and insights from vendors, industry experts, manufacturers, suppliers, and end consumers. To accurately measure the market share and estimate the overall growth potential of the market, the research experts carefully go through a multitude of primary data sources such as vendor briefings, interviews with industry experts, and telephonic interview and webinars. The industry report on the global industrial PROFIBUS market also helps the client gain an overall market overview, and make effective investment decisions.
This upcoming report on the global industrial PROFIBUS market also analyzes the market and its potential for each geographic segment such as the Americas, EMEA, and APAC to help the client in making business decisions on resource allocation. According to our research analysts, the trend of industrial automation networks moving from ethernet to wireless networks is likely to influence the market space for industrial PROFIBUS.
The forthcoming market research report for the global industrial PROFIBUS market also highlights the key market drivers and the major restraints that the automation sector currently experiences. It also presents insights into the dynamic competitive scenario to offer clients a complete picture of the upcoming events within the industrial automation industry. Technavio also provides deep-dive market assessments into the robotics sector.
Our market research methodology for the global industrial PROFIBUS market
Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by solution
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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