Global Industrial PROFIBUS Market 2017-2021

Overview of the global industrial PROFIBUS market

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.

Competitive landscape and key vendors

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 -

• ABB
• Emerson Electric
• Rockwell Automation
• Siemens
• Texas Instruments

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.

Segmentation by solution and analysis of the industrial PROFIBUS market

• PROFIBUS PA
• PROFIBUS DP
• PROFIdrive
• PROFIsafe

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.

Segmentation by end-user and analysis of the industrial PROFIBUS market

• Power industry
• Water and wastewater industry
• Oil and gas industry
• Automotive industry

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial PROFIBUS market?
• What are the key market trends impacting the growth of the global industrial PROFIBUS market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial PROFIBUS market?
• What are the market opportunities and threats faced by the vendors in the global industrial PROFIBUS market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global industrial PROFIBUS market?

Technavio also offers customization on reports based on specific client requirement.