Process Automation and Instrumentation Market - Size, Share, Industry Trends, and Forecasts (2024 - 2031)

By Automation Type:

Based on automation type, the market is segmented into Industrial Automation, Process Automation, Robotic Process Automation, Building Automation, and Others.

Trends in the automation type:

• The trend towards smart buildings is growing, with advancements in IoT and cloud computing enabling more sophisticated building management systems. Smart buildings use interconnected sensors and devices to manage HVAC, lighting, and security systems more efficiently, enhancing comfort and reducing energy consumption.

The industrial automation segment accounted for the largest revenue share of 31.67% in 2023.

• Industrial automation focuses on automating manufacturing processes to improve efficiency, precision, and safety.
• Industries including automotive, electronics, and consumer goods are increasingly adopting automation technologies to boost production capabilities and reduce operational costs.
• In November 2021, Siemens launched several Ecosystems, an IT platform that enables scalable deployment. These devices allow industrial automation to perform advanced data processing and analytics.
• Consequently, rising demand for industrial automation for improved production and real-time monitoring is driving the process automation and instrumentation market share.

The process automation segment is anticipated to register the fastest CAGR during the forecast period

• Process automation is a process to automate complex business processes.
• It is designed to remove bottlenecks and reduce errors and loss of data, all while increasing transparency, communication across departments, and speed of processing.
• Additionally, process automation is central to Industry 4.0, providing the tools and technologies necessary for achieving interconnected and intelligent production systems.
• In November 2022, Yokogawa introduced CENTUM VP R6.10 distributed control system, featuring enhanced functionality and integration with cloud-based services. The CENTUM VP offers improved process control, data analytics, and operational flexibility, supporting process automation in various sectors supporting Industry 4.0.
• Thus, the ability of process automation to automate complex business processes is boosting the global process automation and instrumentation industry.

By Instrumentation Type :

Based on instrumentation type the market is segmented into measurement instruments, control instruments, analytical instruments, flow instruments, level instruments, signal instruments, and others.

Trends in the Instrumentation Type:

• Control instruments are being integrated with sophisticated control systems, including distributed control systems (DCS) and programmable logic controllers (PLCs). This integration enables better coordination and management of complex processes across different operational areas.
• An emerging trend is the development of portable and on-site analytical instruments that provide real-time analysis and immediate results. These instruments are especially useful in field applications, as well as in environments where laboratory study is impractical.

The measurement instrument segment accounted for the largest revenue share in the year 2023.

• Measurement instruments are essential for accurate data collection and process control across various industries.
• It provides precise measurements of parameters including temperature, pressure, flow, and level, enabling effective process monitoring and optimization.
• In April 2021, Siemens introduced the Sitrans MS200 IIoT Sensors. These instruments collect data on temperature, pressure, and flow in factory equipment and transmit it to cloud platforms for predictive analytics. This allows manufacturing companies to use real-time data to optimize operations and improve maintenance strategies, significantly reducing downtime.
• Therefore, measurement instrument provides accurate data collection and precise measurements of various parameters, driving the process control and instrumentation market growth.

The analytical instrument segment is anticipated to register the fastest CAGR during the forecast period.

• An analytical instrument is a device that qualitatively and quantitatively measures the composition, status, and properties of substances.
• These instruments are increasingly being integrated with data analytics platforms and digital technologies.
• Additionally, this integration enables advanced data analysis, enhances decision-making, and provides deeper insights into complex processes.
• For instance, Bruker's S2 PUMA Series 2 Energy-Dispersive X-ray Fluorescence (XRF) Spectrometer, provides high-throughput and accurate elemental analysis for industrial and research applications. The S2 PUMA is designed for reliable and fast analysis of various materials, including metals, minerals, and environmental samples.
• Hence, the ability of analytical instruments to provide advanced data analysis and insights for informed decision-making is boosting process automation and instrumentation market demand.

By Technology:

Based on technology, the market is segmented into Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Supervisory Control and Data Acquisition (SCADA), Human Machine Interface (HMI), and Others.

Trends in the technology:

• Digitalization is taking over DCS technologies with digital twins, cloud-based control systems, and advanced analytics. Enhanced automation will become more accurate in industrial processes due to this trend.
• Mobile and wireless SCADA solutions are becoming a necessity as they provide greater flexibility and accessibility. Therefore, it allows operators to monitor and control industrial processes from anywhere through mobile SCADA applications.

The PLC technology segment accounted for the largest revenue share in the year 2023.

• PLCs are fundamental to industrial automation as they provide the ability to control machinery and processes across a wide range of industries.
• These instruments are preferred for their robustness, real-time processing capabilities, and flexibility to integrate with advanced technologies including IoT and edge computing.
• In April 2023, Siemens' Simatic S7-1500V control instruments widen the current Simatic range and fulfill specific market needs like hosting PLC computing virtually. This is an expanding portfolio designed for production engineering, execution, and optimization, which Siemens is integrating into its offerings on Siemens Xcelerator, the digital business platform. Siemens is continuously combining IT and software capabilities with its Industrial Operations X.
• Therefore, due to its versatility, reliability, and enhanced control over machinery, the PLC segment is proliferating the process automation and instrumentation market growth.

The HMI technology segment is anticipated to register the fastest CAGR during the forecast period.

• HMI is a technology that enables the interaction of operators with the machines.
• The technology includes tactile, acoustic, bionic, and optical, which enhances user experience by providing touch-sense, voice control, and haptic feedback.
• Additionally, advancements in voice recognition, natural language processing (NLP), multi-modal interaction, and sound-based feedback are the reason for adoption.
• In January 2022, Google launched Nest Hub 2nd Gen, which features a voice-first interface that leverages advanced acoustic HMI technology. With improved voice recognition and NLP capabilities, the device offers seamless voice control for automation processes and other tasks.
• Hence, the haptic feedback technology of HMI is driving the process automation and instrumentation market opportunities.

By End-User:

Based on end-user industries, the market is segmented into automotive, oil and gas, pharmaceutical, food and beverages, energy and utilities, aerospace, healthcare, and others.

Trends in the end-user :

• Cutting-edge manufacturing techniques including modular production and continuous manufacturing are being approved by the pharmaceutical industries. By relying on automation, these methods help in increasing flexibility, lowering production costs as well as speeding up the introduction of new drugs into the market.
• The food and beverage sector has implemented intelligent packaging systems that rely on automation to give live information about how fresh- the products are, their expiration period, as well as how much stocks remain for each item. Consequently, it improves supply chain management and customer satisfaction as well.

The automotive end-user segment accounted for the largest revenue share in 2023 and is anticipated to register the fastest CAGR during the forecast period.

• The automotive sector is increasingly integrating advanced instruments into automobiles to streamline manufacturing processes.
• These sensor instruments are used in collision avoidance, lane-keeping, and adaptive cruise control and are driving the market in this segment.
• Additionally, there is a significant demand for sensors in automotive safety features including Advanced Driver Assistance Systems (ADAS).
• In September 2022, Continental launched Modular multi-sensors that integrate advanced technologies for commercial vehicle safety and automation. This includes sensors for detecting environmental conditions and vehicle status, which are essential for implementing and improving safety features and autonomous driving capabilities.
• Consequently, the sensor instruments provide automotive safety features in the sector is propelling the process automation and instrumentation market.

Regional Analysis:

The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Asia Pacific region was valued at USD 19.06 Billion in 2023. Moreover, it is projected to grow by USD 19.93 Billion in 2024 and reach over USD 31.50 Billion by 2031. Out of this, China accounted for the maximum revenue share of 31.3%. As per the process automation and instrumentation market analysis, the Asia-Pacific region including China, Japan, India, and South Korea is experiencing rapid industrial growth, which is boosting the demand for process automation and instrumentation. Additionally, technological advancement including artificial intelligence, industrial internet of things, and cloud computing in the industrial automation process is fueling the process automation and instrumentation market opportunities.

• In April 2024, Yokogawa (Japan) launched an upgraded version of its CENTUM VP distributed control system featuring AI-driven process optimization. This new functionality allows for real-time adjustments and predictive maintenance based on advanced data analytics.

North America is estimated to reach over USD 40.15 Billion by 2031 from a value of USD 25.02 Billion in 2023 and is projected to grow by USD 26.10 Billion in 2024. North America region, particularly the United States and Canada, is a leader in adopting advanced manufacturing technologies including process automation and instrumentation.

• In November 2022, Emerson (US) expanded Rosemount 3051 Pressure Transmitter with Bluetooth wireless technology, for pressure and temperature measurement. The wireless sensor instrument supports automation systems, enabling real-time data transmission and enhancing operational efficiency without physical contact.

Europe is at the forefront of Industry 4.0, with widespread adoption of smart manufacturing and process automation technologies. The integration of robotics, AI, and advanced sensor instruments into production processes in transforming industries.

Latin America is witnessing significant industrialization, particularly in countries including Brazil, Mexico, and Argentina. This industrial expansion is driving the adoption of process automation and instrumentation solutions across various sectors.

The Middle East particularly countries including Saudi Arabia and the United Arab Emirates (UAE) continue to major the process automation and instrumentation market fueled by the oil and gas sector.