The global process automation market is estimated to grow at a significant CAGR during the forecast period. Rising industrialization and the rising need for robotic process automation are two main factors driving market expansion. Government measures to support the manufacturing sector have resulted in increased industrialization in emerging countries. Robotic Process Automation (RPA) is software that is used in conjunction with business processes to automate tasks, prevent human errors, and increase productivity.
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Some crucial players operating in the market include ABB Ltd., Dassault Systemes SE, Eaton Corp. plc, Emerson Electric Co., and Honeywell International Inc. To maintain a strong position in the market, these market players adopt various strategies such as product launches, partnerships, collaborations, and mergers and acquisitions. For instance, Audi, a German automaker, is focusing on building software robots to help staff at PC workstations with tedious work. Over the years, humans and machines have collaborated in Audi’s manufacturing factories. Employees at PC workstations now have access to robot assistance in the shape of Audi my Mate, a digital assistant. The market is growing due to the increasing integration of human and machine labour to help with manufacturing and back-office tasks. The arrival of Industry 4.0 presents an opportunity for market expansion.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Technology
o By Component
o By End-User Industry
- Competitive Landscape: ABB Ltd., Dassault Systems SE, Eaton Corp. plc, Emerson Electric Co., and Honeywell International Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Process Automation Market by Segment
By Technology
- Supervisory Control and Data Acquisition (SCADA)
- Human Machine Interface (HMI)
- Distributed Control System (DCS)
- Programmable Logic Controller (PLC)
- Enterprise Resource Planning (ERP)
- Others
By Component
- Hardware
- Software and Services
By End-User Industry
- Oil and Gas
- Electrical and Electronics
- Chemical
- Retail
- Food and Beverage
- Pharmaceutical and Life Science
- Manufacturing (Metal and Paper and Pulp)
- Automobile
- Others
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