No alternative: Process automation will grow fast, report predicts
Dedham, MA — Process industry automation continues to experience strong worldwide growth, according to a new report from ARC Advisory Group, “Automation Systems for Process Industries Worldwide Outlook.” In many cases, those involved have little choice but to invest. Find out why.
Dedham, MA — Process industry automation continues to experience strong worldwide growth, according to a new report from ARC Advisory Group, “Automation Systems for Process Industries Worldwide Outlook
report from ARC Advisory Group, “Automation Systems for Process Industries Worldwide Outlook.” In many cases, those involved have little choice but to invest. Find out why.
ARC Advisory Group
- Users facing globalization are considered to be driving plant performance at a level that would be inconceivable without modern process automation systems and business processes.
- Process automation technologies contribute to the achievement of industry business objectives for improved plant utilization, yields, product quality, availability, safety, flexibility, and delivery performance.
- Large number of challenges and changes in global business environments favor greater use of automated systems. These include globalization, the need to act quickly and with agility to emerging market opportunities, dealing with a shrinking base of educated and well trained personnel, and increasing pressure to improve financial performance. These will act as drivers in the way that users approach methods of controlling production, engineering, operations, and maintenance in manufacturing.
ARC Advisory Groupreport on process industry automation says plants must continue to improve performance because:
Therefore, automation systems for process industries should experience robust growth. The worldwide market for process automation systems is expected to increase at a compounded annual growth rate (CAGR) of 9.6% over the next five years. The market was nearly $30 billion in 2006 and is predicted to grow to more than $47 billion in 2011.
“ Constant cost pressure in process industries leaves no alternative but to improve plant performance, and process automation technologies play a key role in achieving this,” said senior analyst Himanshu Shah, the principal author of the study.
ARC says it looks at leading indicators shaping growth in the global marketplace, from capacity utilization to productivity and industrial production, and how these will affect the future. The global outlook for automation and manufacturing remains bright, in spite of some U.S. and Canadian economic problems. Higher energy prices continue to contribute to increased capital investments and large project backlogs for oil, gas and refining companies. Pharmaceutical and bio-tech industries remain strong, and growth in Asia and developing regions remains high.
Also read other articles from Control Engineering on process automation systems .
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
Annual Salary Survey
Read more: 2015 Salary Survey