Global Process Automation Market
As the technical advancements are taking over the world, innovators are putting in efforts to improve the life of humans. Moreover, progressive steps are being taken to affluence mankind. Process automation is a part of this technical revolution and aims to reduce human interaction in various industrial operations. The technique of process automation was introduced following the idea to save instrumental operational time, to reduce human errors, and to improve productivity.
Process automation is the predecessor of various artificial intelligence (AI) and cognitive learning technologies. These technologies are applicable to many of the end-user industries such as medical, aerospace, defense, automotive, construction, manufacturing, and so on. Process automation is achieved with the help of software, robots, and high-tech computers. The information is based on a recent business intelligence report from IndustryARC, titled “Process Automation Market: By Type (PLC, SCADA, Valves, Transmitters, and MES); By Industry (Chemical, Oil & Gas, Petrochemical, F&B, Paper, and Automotive) & By Region- Forecast (2018-2023).
Browse 40 Market Tables, 175 Figures spread through 175 slides and an in-depth TOC on “Process Automation Market (2018 - 2023)”
Process Automation Market Trends
- The advancements in the AI and cognitive technology fields is fueling the process automation market. The future holds great potential for this market as it has become the ultimate goal of mankind to reside in a fully automated society. It is anticipated that most monotonous end-user industry operations will be taken from robots in near future.
- With increasing digital technology, the awareness to develop an eco-friendly environment is also a challenge. Various organizations are trying to infuse technology to create a sustainable environment for the upcoming generations and process automation is poised to play a critical role.
- Online banking transactions are one of the major application of process automation. The worldwide adoption of digital currency has reduced human efforts in banking processes. Additionally, process automation has a great impact on the healthcare industry as they overcome error-prone human intervention.
- Process automation is expecting exponential growth globally. As of now North America has the biggest market for automated processes. However, the Asia-Pacific region is estimated to be growing at the fastest rate globally.
The process automation market is one of the most rapidly growing industry in today’s era. The subsequent shift of mankind to a fully automated world is what is expected from this market. Process automation has increased the overall efficiency and productivity of various operations. The human errors in various processes have shown a considerable decline because of the automated processes. The process automation market is imperiled to flourish in the upcoming years.
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