The Global Field Device Management Market was worth US$ 1.5 billion in 2019 and is estimated to grow at a CAGR of 7% through 2030.
Growing sophistication of industrial automation, rising demand for effective field device monitoring, and advancement in field communication network are the key parameters driving the growth of the global field device management market. Field device management is a tool used for remote configuration, remote monitoring, and maintenance of field devices. It enables effective communication between the control and monitoring instruments distributed throughout the plant floor and centralized system.
Field devices are connected over several industrial network protocols such as HART, Fieldbus Foundation, PROFIBUS, and so on, and communicate real time data to the control room. With filed device management system in place, all the instrument can be monitored and controlled effectively. This has fuelled the adoption of field device management systems across different industries. Industrial automation, growing complexities of industrial processes and increasing investment on development of advanced field device management systems are prime attributes towards the growth of field device management market globally. The global field device management market is expected to exhibit steady growth during the forecast period.
North America contributed a dominating share to the global field device management market in 2019 and is anticipated to be a dominating region during the forecast period owing to strong demand for field device management solution across the wide industries fuelled by high penetration of industrial automation and adoption of Smart factory and Industrial Internet of Things. Increasing investment on development and implementation of Smart Factory solutions is expected to drive the growth of North America field device management market during the forecast period. Asia Pacific is expected to offer lucrative opportunities during the forecast period owing to expanding manufacturing and process industries and rising adoption of advanced industrial automation solutions across emerging countries.
Field Device Management Market Share Analysis, by Geography (2021)
The report titled “Field Device Management Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032” wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global field device management market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Honeywell International Inc. reported revenues of USD 36,709 million in 2019 and the product segment analysis of the company indicates that Aerospace business segment of the company dominated revenue in 2019.
The global field device management market is segmented on the basis of component, deployment, end use industry, and geography. Based on component, the global field device management market is segmented into hardware and software. Based on deployment, the global field device management market is segmented into cloud and on-premise. Based on end use industry, the global field device management market is segmented into discrete industry and process industry. The discrete industry is sub-segmented into automotive, aerospace & defense, and others. The process industry is sub-segmented into oil & gas, chemicals, pharmaceuticals, food & beverages, energy & utility, and others. Based on geography, the global field device management market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on field device managements. Further, market share of prominent companies in the global field device management market would also be estimated. For instance, Honeywell International Inc. operates through four segments namely Aerospace, Honeywell Building technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The field device management products are delivered under Performance Materials and Technologies business segment of the company with revenue contribution of US$ 10,834 million in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the field device management companies. The global field device management market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the field device management business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global field device management market.
Major players active in the global field device management market include ABB, Azbil Corporation, Emerson Electric Co., FANUC Corporation, Hamilton Company, Honeywell International Inc., Metso Corporation, Mitsubishi Electric Corporation, OMRON Corporation, PHOENIX CONTACT, Rockwell Automation Inc., Siemens, Valmet; Schneider Electric, and Yokogawa.
Segmentation:
By Component:
By Deployment:
By End-use Industry:
By Geography:
The global field device management market is estimated to exhibit a CAGR of 7% in terms of revenue over the forecast period.
North America contributed a dominating share to the global field device management market. Increasing investment on development and implementation of Smart Factory solutions is expected to drive the growth of North America field device management market during the forecast period.
Growing sophistication of industrial automation, rising demand for effective field device monitoring, and advancement in field communication network are the key parameters driving the growth of the global field device management market.
Major players operating in the global xxx market include ABB, Azbil Corporation, Emerson Electric Co., FANUC Corporation, Hamilton Company, Honeywell International Inc., Metso Corporation, Mitsubishi Electric Corporation, OMRON Corporation, PHOENIX CONTACT, Rockwell Automation Inc., Siemens, Valmet; Schneider Electric, and Yokogawa.
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