The global automation instrumentation market is expected to witness brisk growth owing to rapid industrialization over the forecast period. With increasing strain on efficiency to ramp up production in many industries, the automated machinery demand has witnessed growth in the recent past. The need for efficient & smooth product flow and quality management system has resulted in high automation instrumentation demand across almost all industries.
The application market can be segregated into two broad divisions, viz. process and discrete. Process industries require very high automation level, advance simulation, monitoring and control for various challenging operations. This industry is characterized by turning variable raw materials into consistent finished goods. Discrete processes involve materials movement across discrete manufacturing environments. These processes involve the aggregation of sub-assemblies or engineered components into high quality products with variable configurations.
Automation can be defined as the use of automated machinery and computers for smooth and efficient task execution. Automation can be broadly divided in three types based on output, viz. mass or flow, batch and flexible or job automation. When the design is not flexible and there is high production then it is classified as mass and flow. When the output is moderate and the process is carried out in different batches, it is termed as batch automation. When the production is low and the design varies in accordance with the product specifications, then the classification is termed as flexible or job.
Instrumentation refers to the devices used for the purpose of observation, measurement, control and monitor. Novel automation types have been developed in the recent past which such as information technology (IT), flexible manufacturing systems (FMS), computer-aided manufacturing (CAM), Robots, computer integrated manufacturing (CIM) and Numerically controlled (NC) equipment. IT encompasses computer technologies that are used to create, disseminate, store and retrieve information. CAM uses computers for different functions in production planning and control. NC machines are programmed machine tools that engage in sequential operation execution. Robots are automated equipments that are used to execute several tasks which are normally performed by humans. FMS includes robots, automated material handling tools and numerically controlled tools. In CIM systems many manufacturing functions are linked through an integrated computer network.
Instrumentation includes both controlling and measuring functions. Instrumentation has seen rapid growth in the past mainly in the fields such as electrical & dimensional measurement and physical analysis. On the basis of technique, instrumentation industry can be divided into four major different types, which are programmable, processor, operating system and network instrumentation.
Automation and instrumentation complement each other as instruments are to be used for the automation purpose. Need for increase in productivity across the industries has prompted companies to adopt automation with an aim to gain a competitive advantage over their rivals. High risk working environments which require special and proper handling results in expensive human labor. Thus, increasing labor cost is projected to play a positive role in aiding the global automation instrumentation market over the forecast period. Rising labor costs have prompted companies to adopt automation with an aim to streamline their production processes and reduce their dependence on expensive human labor.
Labor shortage in developed regions is presumed to play a key role in shaping the market in the near future. Industry participants that aim to reduce the overall production time, decrease manufacturing cost and increase manufacturing flexibility are expected to adopt such practices and are anticipated to play a lead role in influencing the market. Growing industrial safety concerns is projected to play a key role in complementing the global automation instrumentation market over the forecast period.
Lack of effective product differentiation is expected to act as a major hurdle for market growth and development. Dominant industry participants are facing tough competition from regional and local manufacturers especially owing to low product differentiation. Technological developments and massive R&D initiatives to develop superior products offer ample growth opportunities for the automation instrumentation industry participants over the next seven years.
Developed markets such as North America and Europe dominated the global market in the recent past and are projected to continue this dominance over the forecast period. Developing markets, which were characterized by large availability of labor, are seeing a shift in trend towards automation across multiple industries. Companies have taken initiatives to cater to the developing markets by shifting their production bases to such areas. Such a trend is presumed to positively impact the regional automation instrumentation market over the forecast period. Economies such as India, China and Brazil are presumed to lead their respective regional markets in the near future.
Automation instrumentation market is highly cost intensive and requires heavy initial investment. Industry participants are taking strong measures and investing heavily in R&D initiatives to develop superior and efficient equipments. Prominent industry participants include Honeywell International Inc., BB Ltd., Yokogawa Electric Corp., Emerson Electric Co., Mitsubishi Electrical Corp, Siemens AG and Rockwell Automation.
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