Process Automation Market in Europe to grow by USD 2.43 Bn | Maximum growth opportunities expected in German market | Technavio – PRNewswire

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Process Automation Market in Europe: Segmentation Analysis

Technavio analyzes the process automation market in Europe by type (discrete automation and process automation) and geography (Germany, UK, France, and the Rest of Europe).

By type, the market will witness significant growth in the discrete automation segment during the forecast period. Discrete automation divides manufacturing into bits then brings them all together to make autonomous goods, thus enabling manufacturers to measure each process. Such benefits are driving the growth of the segment.

By geography, Germany will offer significant growth opportunities for market players. The increasing adoption of automation in the manufacturing sector and rising investments in AI technologies are driving the growth of the regional market. In addition, the rising popularity of collaborative robots in the automotive industry is expected to positively influence the growth of the process automation market in Europe.

The process automation market in Europe covers the following areas:

Process Automation Market SizingProcess Automation Market ForecastProcess Automation Market Analysis

Process Automation Market in Europe: Key drivers

The rising demand for process automation in the healthcare industry will be crucial in driving the growth of the market. The growing shortage of labor in the healthcare industry, hospitals, and clinics has forced end-users to adopt automated technologies. These technologies eliminate human errors and ensure efficient handling of medical goods and prevent delays or stock-outs of key items. Also, automation technologies enable healthcare companies to adhere to various regulatory standards and lower operational expenses. Many such benefits are increasing the adoption of automation technologies in healthcare technology, thereby driving the growth of the market.

In addition, the virtualization of automation systems will further accelerate the growth of the market during the forecast period. However, infrastructure and customization issues will reduce the growth potential of market players.

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Companies Mentioned

ABB Ltd.:The company offers process automation products such as Control Systems, PLC, and Industrial Analytics and AI.

Eaton Corp. Plc:The company offers process automation products such as Easy Control Relays, Easy Safety Relays, and Touch Panel HMI/PLC.

Emerson Electric Co.:The company offers process automation products such as programmable automation controllers, motion control, and automation software.

General Electric Co.:The company offers process automation and control services for power plants.

Honeywell International Inc.: The company offers process automation products such as Control and Supervisory Systems, Field Instruments, and Process Instruments products.

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Process Automation Market in Europe Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 6.04%

Market growth 2022-2026

USD 2.43 billion

Market structure

Fragmented

YoY growth (%)

6.81

Regional analysis

Germany, UK, France, and Rest of Europe

Performing market contribution

Germany at 39%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Type

Customer landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [emailprotected]Website: http://www.technavio.com/

SOURCE Technavio

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Process Automation Market in Europe to grow by USD 2.43 Bn | Maximum growth opportunities expected in German market | Technavio - PRNewswire