According to the new market research report "Process Automation and Instrumentation Market by Types (Hardware, Software, Service), by Technology (SCADA, PLC, DCS, MES), by Application (Chemical, Oil & Gas, Solar, Metal, Water & Waste, Energy, Food, Automotive and by Geography - Analysis & Global Forecasts to 2013 - 2020" the Process Automation and Instrumentation Market is projected to cross $180.26 billion by 2020, growing at a CAGR of 6.08% from 2014 to 2020.
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The process automation is a revolutionary taxonomy of various technologies like SCADA, PLC, DCS, and MES, which include field instruments and Enterprise Resource Planning (ERP) technology, among others. The process automation solutions optimize the productivity and efficiency of the various stages of production, under various verticals like wastewater treatment, pharmaceutical, oil & gas extraction and petrochemicals, among others.
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The extensive study of the competitive landscape of the process automation and instrumentation market clearly portrays that the American market has most of the global market leaders as its top performers. The companies provide solutions related to PA & PI market as well as other automation solutions. We can clearly see that APAC has a significant number of players but lesser automated industries as of now. By this, we can understand that these players in the APAC market are serving the niche players. APAC will grow at the fastest rate in the coming five years due to the fast growth of the niche market as well as a better demand in the bigger industries.
The process automation and instrumentation market is segmented into four categories that include technology, types, application, and geography. This report divides the overall market into four main geographical segments, namely, Americas, Europe, APAC, and ROW. The Americas region currently contributes highest in the market growth as compared to the other regions.
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