Process Automation & Instrumentation Market Share, Emerging Trends, Business Outlook By 2027
Industry Insights As per the market research study by Market Research Future (MRFR), in the past years, the global process automation & instrumentation market was esteemed at an average level. Now that, the market is predicted to achieve a substantial value till the end of 2023, registering an exponential 6% CAGR between the years 2017 and 2023. Top Impacting Factors The study on the latest parameters revealed that the expansion of the global process automation & instrumentation market depends on mounting prominence on regulatory compliance in the process industries. The rising adoption of IoT across various sectors and inclination in the production process from conventional to digital is also an essential factor stimulating the growth of the process automation & instrumentation market in the coming years. Technology giants, on the other hand, such as ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International, Inc., Mitsubishi Electric Corpora...