Process Instrumentation Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, India, UK - Size and Forecast 2024-2028

Published: Feb 2024 Pages: 191 SKU: IRTNTR44009

Process Instrumentation Market Forecast 2024-2028

The process instrumentation market size is forecast to increase by USD 7.46 billion, at a CAGR of 6.67% between 2023 and 2028. The growth rate of the market depends on several factors such as rising demand for automation in manufacturing processes, the need for efficient use of resources reduction of emissions in production processes and enhancing safety in oil and gas storage and transportation. Our market report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.

The process instrumentation market in APAC is projected to witness a higher CAGR than other regions, driven by nations like China, South Korea, Japan, India, Thailand, Malaysia, and Australia, key industry players such as ABB Ltd and Delta Electronics Inc. play pivotal roles. ABB Ltd stands out with its process instrumentation products, encompassing temperature transmitters, sensors, pressure transmitters, and remote seals, specifically tailored for the life science industry. Meanwhile, Delta Electronics Inc. contributes to the market's growth by offering high-performance and reliable process instrumentation solutions, ranging from drives and motion control systems to industrial control and communication, as well as power quality improvement.

Market Forecasting and Size

Market  Forecast 2024-2028

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Market Dynamic

Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.

Driver - Enhancing safety in oil and gas storage and transportation

Post the COVID-19 pandemic, from 2022, there has been a rapid rise in the demand for global liquid fuel and natural gas, which has driven the expansion of storage capacities. Moreover, the global oil and gas trade has also witnessed a steep upward trend. The storage and logistics for oil and gas are very difficult and challenging. Therefore, safety in oil and gas handling and operations is vital. The increasing demand for oil and gas is pushing up the capacity limits of existing storage facilities. Oil depot operations include inventory management, custody transfer, metering of oil and gas, and loading and unloading activities in tankers and tank trucks. These activities need to keep pace with the market dynamics related to the demand and supply of oil and gas.

Moreover, the use of automation systems, which involve the installation of various level and pressure measurement instruments, reduces human intervention and increases the level of safety during operations. High accuracy and safety are of prime concern when dealing with high-value hydrocarbons. Thus, the increase in storage capacity and the extensive logistics needed for the storage and transportation of oil and gas will drive the growth of the market during the forecast period.

Trends - Rising demand for wireless field instruments

The rising demand for wireless field instruments in process plants has played a major role in transforming the working of several industries. Wireless technology has been widely used in various process industries for a long time. The incorporation of wireless technology must be considered at the design stage of the plant and can be used for network communication and process control via field instruments. However, this technology is prone to security and reliability issues. 

However, interference in radio frequency could lower the reliability of the system and expose plants that deploy this technology to security risks. Despite these shortcomings, wireless communication implementation in plants for field instruments will see increased adoption during the forecast period and is expected to have a significant impact on the operations of an industry. These factors will increase the growth of the market during the forecast period.

Challenge - Safety issues due to faulty instruments

Measurement instruments, such as level indicators and pressure sensors, may be relatively small in size but are very critical in ensuring safety in process industries. These instruments provide accurate measurements to ensure safe plant operations. Faulty instruments may fail to show the correct measurement or readings and may ultimately lead to major incidents, resulting in the loss of life and damage to property. For instance, The Oak Grove Plant, located in the town of Oak Grove, Texas, was the scene of an explosion in May 2023, at approximately 8:00 A.M. A new auxiliary boiler was being installed at the plant at the time of the explosion. One contractor died in the explosion, and a few people were injured.

However, a similar incident took place in June 2020 when benzene leaked from a pharma plant in Vizag, India. The cause of the leak was a faulty pressure gauge. The benzene leak contaminated the groundwater, which was found to have a thousand times more benzene than the level defined by the state health standards. These incidents indicate the criticality of such measurement instruments in refinery operations. Therefore, instruments should be thoroughly checked to ensure accurate measurements and reliable plant operations. Increasing such incidents will hinder the growth of the market during the forecast period.

Market Segmentation by End-user, Type and Geography

End-user Segment Analysis:

The market share growth by the oil and gas segment will be significant during the forecast period. Instrumentation solutions are used in the midstream oil and gas sector to monitor spills and leaks while transporting oil and gas. One of the main areas of instrumentation in the oil and gas industry is oil refineries. Oil refineries store and process crude oil to make petroleum products, which are stored and transported to end-users. A refinery complex houses many processing plants and uses different types of instrumentation equipment, including level indicators as well as temperature measurement and pressure sensors. 

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The oil and gas segment was the largest and was valued at USD 4.25 billion in 2018. Oil and gas instrumentation includes various measurement devices employed at different stages of the petroleum value chain. Various instruments, such as flow meters, pressure measurement instruments, level measurement devices, temperature measurement devices, and others, are deployed for the proper functioning of the complex equipment used in all the processes. Level measurement devices measure and display the level in a vessel/equipment used during a process. A contact-level measurement gauge is one where liquid gets filled in a transparent tube that has a scale marked on it to display the level of the fluid. It is usually used for clear fluids or in water applications. The other device belonging to the contact type is the level transmitter, which has two tappings on the vessel and displays the level of the fluid as a percentage. The non-contact types of level measurement devices used in the oil and gas industry are ultrasonic and radar type of level transmitters. These factors under the segment will drive the growth of the market during the forecast period.

Type Segment Analysis:

Based on the type, the market has been segmented into field instrument, control valve and analyzer. The field instrument?segment will account for the largest share of this segment.?  Field instruments are a broad category of equipment used to measure, track, and control various variables in real-time at the location or field where industrial operations take place. They play a critical role in monitoring and controlling processes with accuracy, precision, and reliability to improve overall operational effectiveness. Pharmaceuticals, food and beverages, petrochemicals, and other industries use level instruments to avoid overflows, maintain uniform product quality, and improve safety. Pressure instruments are another important segment of field instruments. They measure gas or liquid pressure and play an important role in maintaining good conditions in industrial processes. These instruments are used in a variety of industries, from manufacturing to power generation. These factors under the field instruments segment will drive the growth of the market during the forecast period.

Regional Analysis

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APAC is estimated to contribute 37% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The expanding population and improving per capita income of people have necessitated the expansion of the manufacturing base in the region. China is also working to improve the quality of water in the country, with a special emphasis on developing water infrastructure in northern China through investments in technologies, such as wastewater treatment, recycling, and membrane technologies. Further, the Indian Government is planning to reduce the country's dependence on imports and hence, is increasing the number of manufacturing and process plants in India from 2022. Initiatives such as Make in India and Skill India are aimed at increasing the productivity and manufacturing capacity in the country. Along with this, initiatives relating to the adoption of automation systems within factory premises are propelling the output of process industries, such as oil and gas, food and beverage, and pharmaceutical.

Additionally, carbon emissions are a global problem that requires immediate attention. This issue is predominant in the oil and gas, power, chemical and petrochemical industries. The Indian Government is introducing regulations and standards that are on par with international emission standards to reduce the carbon footprint in these process industries. Low emissions can be achieved by raising the efficiency of existing plants and investing in alternative renewable energy sources. Instrumentation is a proven tactic to enhance plant efficiency, which is a key factor fueling the growth of the market in the region during the forecast.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Emerson Electric Co - The company offers process instrumentation solutions and analytical technologies for process control and clarity which are used for the energy, power, chemical, life science and mining industries.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including ABB Ltd., Delta Electronics Inc., Emerson Electric Co., Endress Hauser Group Services AG, Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., KROHNE Messtechnik GmbH, Metso Outotec Corp., Mitsubishi Electric Corp., OMRON Corp., Pepperl and Fuchs SE, Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, Teledyne Technologies Inc., Titan Co. Ltd., and Yokogawa Electric Corp. 

Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • End-user Outlook 
    • Oil and gas
    • Chemical
    • Food and beverages
    • Energy and power
    • Others
  •  Type Outlook
    • Field instrument
    • Control valve
    • Analyzer
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • South America
      • Chile
      • Brazil
      • Argentina 
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview

The Process Instrumentation Market is witnessing robust growth driven by factors such as stringent regulations and standards in industries like pharmaceuticals, chemicals, oil & gas, and power. Industries are increasingly focused on worker safety, leading to technological advancements in data analytics, wireless technologies, and smart control valves. This is crucial for energy demand management and achieving sustainable energy goals. Operational efficiency and waste reduction are key priorities, along with minimizing environmental impact.

The industrialization drive, particularly in developing countries, emphasizes water quality and control valves in sectors like chemicals and pharmaceuticals. The adoption of smart sensors for energy efficiency and sustainability is accelerating, aiding in carbon emissions reduction. Manufacturers are launching innovative products to meet safety regulations and enhance industrial automation. United States government agencies, including the Occupational Safety and Health Administration, play a vital role in shaping industry standards. The market is poised for substantial growth, with a focus on product quality, sensors, and wastewater treatment, driven by a growing population and the need for efficiency, accuracy, and reliability in processes.

Process Instrumentation Market Scope

Report Coverage

Details

Page number

191

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.67%

Market growth 2024-2028

USD 7.46 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

6.28

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 37%

Key countries

US, Canada, China, India, and UK

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Delta Electronics Inc., Emerson Electric Co., Endress Hauser Group Services AG, Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., KROHNE Messtechnik GmbH, Metso Outotec Corp., Mitsubishi Electric Corp., OMRON Corp., Pepperl and Fuchs SE, Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, Teledyne Technologies Inc., Titan Co. Ltd., and Yokogawa Electric Corp.

Market dynamics

Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. 

Customization purview

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What are the Key Data Covered in this Process Instrumentation Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market growth and trends and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Market growth and forecasting across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market  companies

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1 Executive Summary

  • 1.1 Market Overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global process instrumentation market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global process instrumentation market 2018 - 2022 ($ billion)
    • 4.2 End-user Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)
    • 4.3 Type Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on End-user - Market share 2023-2028 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Oil and gas - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Oil and gas - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Oil and gas - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Oil and gas - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Oil and gas - Year-over-year growth 2023-2028 (%)
    • 6.4 Chemical - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Chemical - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Chemical - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Chemical - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Chemical - Year-over-year growth 2023-2028 (%)
    • 6.5 Food and beverages - Market size and forecast 2023-2028
      • Exhibit 42: Chart on Food and beverages - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 43: Data Table on Food and beverages - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 44: Chart on Food and beverages - Year-over-year growth 2023-2028 (%)
      • Exhibit 45: Data Table on Food and beverages - Year-over-year growth 2023-2028 (%)
    • 6.6 Energy and power - Market size and forecast 2023-2028
      • Exhibit 46: Chart on Energy and power - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 47: Data Table on Energy and power - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 48: Chart on Energy and power - Year-over-year growth 2023-2028 (%)
      • Exhibit 49: Data Table on Energy and power - Year-over-year growth 2023-2028 (%)
    • 6.7 Others - Market size and forecast 2023-2028
      • Exhibit 50: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 51: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 52: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ billion)
      • Exhibit 55: Data Table on Market opportunity by End-user ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 56: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 57: Data Table on Type - Market share 2023-2028 (%)
    • 7.2 Comparison by Type
      • Exhibit 58: Chart on Comparison by Type
      • Exhibit 59: Data Table on Comparison by Type
    • 7.3 Field instrument - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Field instrument - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Field instrument - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Field instrument - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Field instrument - Year-over-year growth 2023-2028 (%)
    • 7.4 Control valve - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Control valve - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Control valve - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Control valve - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Control valve - Year-over-year growth 2023-2028 (%)
    • 7.5 Analyzer - Market size and forecast 2023-2028
      • Exhibit 68: Chart on Analyzer - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Data Table on Analyzer - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 70: Chart on Analyzer - Year-over-year growth 2023-2028 (%)
      • Exhibit 71: Data Table on Analyzer - Year-over-year growth 2023-2028 (%)
    • 7.6 Market opportunity by Type
      • Exhibit 72: Market opportunity by Type ($ billion)
      • Exhibit 73: Data Table on Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 75: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 76: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 77: Chart on Geographic comparison
      • Exhibit 78: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 79: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 North America - Market size and forecast 2023-2028
      • Exhibit 83: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.5 Europe - Market size and forecast 2023-2028
      • Exhibit 87: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.6 South America - Market size and forecast 2023-2028
      • Exhibit 91: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 US - Market size and forecast 2023-2028
      • Exhibit 99: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.9 China - Market size and forecast 2023-2028
      • Exhibit 103: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.10 India - Market size and forecast 2023-2028
      • Exhibit 107: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.11 Canada - Market size and forecast 2023-2028
      • Exhibit 111: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on Canada - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on Canada - Year-over-year growth 2023-2028 (%)
    • 9.12 UK - Market size and forecast 2023-2028
      • Exhibit 115: Chart on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 116: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 117: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 118: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 119: Market opportunity by geography ($ billion)
      • Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 121: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 122: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 123: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 124: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 125: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 126: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 127: ABB Ltd. - Overview
              • Exhibit 128: ABB Ltd. - Business segments
              • Exhibit 129: ABB Ltd. - Key news
              • Exhibit 130: ABB Ltd. - Key offerings
              • Exhibit 131: ABB Ltd. - Segment focus
            • 12.4 Delta Electronics Inc.
              • Exhibit 132: Delta Electronics Inc. - Overview
              • Exhibit 133: Delta Electronics Inc. - Business segments
              • Exhibit 134: Delta Electronics Inc. - Key offerings
              • Exhibit 135: Delta Electronics Inc. - Segment focus
            • 12.5 Emerson Electric Co.
              • Exhibit 136: Emerson Electric Co. - Overview
              • Exhibit 137: Emerson Electric Co. - Business segments
              • Exhibit 138: Emerson Electric Co. - Key news
              • Exhibit 139: Emerson Electric Co. - Key offerings
              • Exhibit 140: Emerson Electric Co. - Segment focus
            • 12.6 Endress Hauser Group Services AG
              • Exhibit 141: Endress Hauser Group Services AG - Overview
              • Exhibit 142: Endress Hauser Group Services AG - Product / Service
              • Exhibit 143: Endress Hauser Group Services AG - Key news
              • Exhibit 144: Endress Hauser Group Services AG - Key offerings
            • 12.7 Fuji Electric Co. Ltd.
              • Exhibit 145: Fuji Electric Co. Ltd. - Overview
              • Exhibit 146: Fuji Electric Co. Ltd. - Business segments
              • Exhibit 147: Fuji Electric Co. Ltd. - Key offerings
              • Exhibit 148: Fuji Electric Co. Ltd. - Segment focus
            • 12.8 General Electric Co.
              • Exhibit 149: General Electric Co. - Overview
              • Exhibit 150: General Electric Co. - Business segments
              • Exhibit 151: General Electric Co. - Key offerings
              • Exhibit 152: General Electric Co. - Segment focus
            • 12.9 Hitachi Ltd.
              • Exhibit 153: Hitachi Ltd. - Overview
              • Exhibit 154: Hitachi Ltd. - Business segments
              • Exhibit 155: Hitachi Ltd. - Key news
              • Exhibit 156: Hitachi Ltd. - Key offerings
              • Exhibit 157: Hitachi Ltd. - Segment focus
            • 12.10 Honeywell International Inc.
              • Exhibit 158: Honeywell International Inc. - Overview
              • Exhibit 159: Honeywell International Inc. - Business segments
              • Exhibit 160: Honeywell International Inc. - Key news
              • Exhibit 161: Honeywell International Inc. - Key offerings
              • Exhibit 162: Honeywell International Inc. - Segment focus
            • 12.11 Metso Outotec Corp.
              • Exhibit 163: Metso Outotec Corp. - Overview
              • Exhibit 164: Metso Outotec Corp. - Business segments
              • Exhibit 165: Metso Outotec Corp. - Key offerings
              • Exhibit 166: Metso Outotec Corp. - Segment focus
            • 12.12 Mitsubishi Electric Corp.
              • Exhibit 167: Mitsubishi Electric Corp. - Overview
              • Exhibit 168: Mitsubishi Electric Corp. - Business segments
              • Exhibit 169: Mitsubishi Electric Corp. - Key news
              • Exhibit 170: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 171: Mitsubishi Electric Corp. - Segment focus
            • 12.13 OMRON Corp.
              • Exhibit 172: OMRON Corp. - Overview
              • Exhibit 173: OMRON Corp. - Business segments
              • Exhibit 174: OMRON Corp. - Key news
              • Exhibit 175: OMRON Corp. - Key offerings
              • Exhibit 176: OMRON Corp. - Segment focus
            • 12.14 Pepperl and Fuchs SE
              • Exhibit 177: Pepperl and Fuchs SE - Overview
              • Exhibit 178: Pepperl and Fuchs SE - Product / Service
              • Exhibit 179: Pepperl and Fuchs SE - Key offerings
            • 12.15 Rockwell Automation Inc.
              • Exhibit 180: Rockwell Automation Inc. - Overview
              • Exhibit 181: Rockwell Automation Inc. - Business segments
              • Exhibit 182: Rockwell Automation Inc. - Key news
              • Exhibit 183: Rockwell Automation Inc. - Key offerings
              • Exhibit 184: Rockwell Automation Inc. - Segment focus
            • 12.16 Schneider Electric SE
              • Exhibit 185: Schneider Electric SE - Overview
              • Exhibit 186: Schneider Electric SE - Business segments
              • Exhibit 187: Schneider Electric SE - Key news
              • Exhibit 188: Schneider Electric SE - Key offerings
              • Exhibit 189: Schneider Electric SE - Segment focus
            • 12.17 Siemens AG
              • Exhibit 190: Siemens AG - Overview
              • Exhibit 191: Siemens AG - Business segments
              • Exhibit 192: Siemens AG - Key news
              • Exhibit 193: Siemens AG - Key offerings
              • Exhibit 194: Siemens AG - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 195: Inclusions checklist
                • Exhibit 196: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 197: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 198: Research methodology
                • Exhibit 199: Validation techniques employed for market sizing
                • Exhibit 200: Information sources
              • 13.5 List of abbreviations
                • Exhibit 201: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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              • Data on revenue-generating market segments
              • Details on the market shares of various regions
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