According to ARC Advisory Group’s new research, the outlook for the process automation marketplace remains positive for capital investments in automation products and software. Despite supply chain challenges, ongoing economic uncertainty, and rising energy and the prices of raw materials, capital investments in process industries in the global market provided some pockets of opportunity for suppliers. Governments around the world showed an increasing appetite toward investing to become less dependent on unreliable foreign suppliers of energy. This increased focus on energy and security have driven increased investment activity in nuclear, LNG, and even fossil fuel power plants.
"Sustainability goals and environmental, social, and governance (ESG) mandates have taken the forefront of every business sector. For many process industries, decarbonization impacts the entire value chain. Industrial IoT and the use of sensors and other modern automation equipment for processing industries will accelerate a circular economy by helping organizations have better visibility of supply chains, bringing greater opportunities for control and innovation, such as material tracing, reverse logistics, decentralized production, and remanufacturing. The digital enablement of new business models deployed in the process industries are key to achieving sustainable manufacturing," according to Himanshu Shah, Senior Analyst and key author of ARC's Automation and Software Expenditures for Process Industries Market Research.
Leading Suppliers to the Automation and Software Expenditures for Process Industries Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes ABB, Emerson Automation Solutions, Rockwell Automation, Schneider Electric, Siemens.
About the Automation and Software Expenditures for Process Industries Research
The Automation and Software Expenditures for Process Industries research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The research segmentation includes Industry, World Region, and Product Type.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. ARC's Market Data Service (MDS) is an annual subscription service that provides a unique online environment to each customer, together with all the necessary user interface apps and datasets. MDS unlocks the full benefits of ARC’s time-tested market intelligence by leveraging the latest analytical tools and technologies to allow you to make more actionable, real-time business decisions. Interactive access to ARC’s qualitative analysis is displayed in context with up-to-date market data, allowing clients to develop customized views of the market to best suit their needs. ARC continues to offer our traditional static Market Reports as a PDF.
ARC provides several types of market data services. The most common are Market Growth Outlook and Competitive Analysis Services. These services provide detailed market analysis of a single or multiple products or software applications. Please visit Market Data Services page for more details on these services.