Worldwide process automation growth exceeds 5%/year

The worldwide process automation market demands more automation equipment, according to recent research by ARC Advisory Group. The global "Total Process Automation" market is expected to grow at a 5.1% compound annual growth rate (CAGR) during the next five years from nearly $50 billion in 2003 to more than $64 billion in 2008, according to a new ARC's study, "Total Automatio...

04/01/2005


The worldwide process automation market demands more automation equipment, according to recent research by ARC Advisory Group. The global "Total Process Automation" market is expected to grow at a 5.1% compound annual growth rate (CAGR) during the next five years from nearly $50 billion in 2003 to more than $64 billion in 2008, according to a new ARC's study, "Total Automation Business for the Process Industries Worldwide Outlook."

While manufacturers are expected to remain cautious, ARC research found that plant equipment capital expenditures are projected to increase modestly in many industries. Global competition will compel most manufacturers to improve their plant machinery and processes to stay competitive. The report adds that several new dynamics are shaping the global automation market. Manufacturing companies perceive the need to track and improve plant and enterprise productivity and performance through real-time performance management (RPM). And, as RPM initiatives take hold, intelligent and fieldbus devices, along with control systems, will be more widely used.

ARC's study also says proliferating commercial-off-the-shelf (COTS) technology and other baseline technologies offer advantages and disadvantages to process automation and its related industries.





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