1. Market Research
  2. > Business Services
  3. > Consulting Market Trends
  4. > Global Automation Services Market for Process Industries

Global Automation Services Market for Process Industries

  • June 2014
  • -
  • Frost & Sullivan
  • -
  • 147 pages

Summary

Table of Contents

Shale Gas and Tight Oil Revolution in North America and Emerging APAC Regions Drives Growth

The declining availability of skilled work force forces end-users in process industries to outsource operation and maintenance services to third-party service providers. This enables end-users to concentrate on core competence of producing more and simultaneously maintain profitability and expected growth rate. This becomes an opportunity for several automation companies to provide maintenance and support service through contractual agreements.

Executive Summary

-The automation services market size for the base year (2013) reached a total of million and the market is expected to grow at a compound annual growth rate (CAGR) of % between 2013 and 2020.
-Many greenfield projects in the oil and gas industry, expansion projects in the chemical industry, and integration projects in the hygienic industry are expected to drive project engineering and installation services from $million in 2013 to $million in 2020 at a CAGR of%.
-The declining availability of a skilled work force encourages end users in process industries to outsource operation and maintenance services to third-party service providers. This enables end users to concentrate on their core competence of producing more, and simultaneously maintain profitability and their expected growth rates. This creates opportunities for several automation companies to provide maintenance and support services through contractual agreements. Thus, it is anticipated that this type of service will increase its revenue from $ million in 2013 to $ in 2020 at a CAGR of %.
-The increase in competitive pressure for the products manufactured by the process industries drives companies to outsource operational and maintenance services, in order to avoid costly downtimes, optimize production, improve energy efficiency, and mitigate risks through safety and quality audits. This will essentially need services from automation solution providers to implement necessary changes in the system and enable the process industries to comply with the regulations. Thus, the market for this type of operational improvement service is expected to grow from $2,633.2 million in 2013 to $ million in 2020 at a CAGR of%.
-Disruptive technologies like big data storage and analytics, industrial mobility, wireless sensors and transmitters, cloud computing, and M2M integration drive the revenue stream for automation OEMs through consulting services that study feasibility, compatibility, risk mitigation strategies, and execution planning with minimal downtime during upgrades and retrofits. This enables revenue from consulting services to grow from $ million in 2013 to $ million in 2020, at a CAGR of %.
-During the forecast period, migration services have become an interesting way to expand the end-user customer base. This is going to require high involvement of consulting services to address the end-user pain points and design suitable solutions for them.
-The open architecture of the solution space helps the automation participants to provide more diligent and more easily-deployable service parameters; this is attracting new customers toward brand loyalty.
-Training and development has become an effective means of improving skilled work forces and also of encouraging knowledge retention. Hence, it will be an obvious choice to focus more on in-house and out-bound training services for the operations team.
-From a market standpoint, consulting services, project engineering, and installation services have high growth opportunities in greenfield projects during the forecast period, whereas maintenance, support, and operational improvement services have high growth opportunities in brownfield projects.
-From an economic standpoint, as the global economy recovers from its downturn, end users are placing emphasis on minimizing CAPEX investments. The trend is moving more toward OPEX parameters, such as the improvement of processes, asset utilization, and health and safety issues.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Information Security Consulting Market by Security Type, Organization Size, Vertical, and Region - Global Forecast to 2021

Information Security Consulting Market by Security Type, Organization Size, Vertical, and Region - Global Forecast to 2021

  • $ 5650
  • Industry report
  • January 2017
  • by MarketsandMarkets

“Increased sophistication in cyber attacking is driving the growth of the information security consulting market” MarketsandMarkets estimates the global information security consulting market to grow ...

Workforce Management Market by Component, Deployment, Organization Size, Vertical, and Region - Global Forecast to 2021

Workforce Management Market by Component, Deployment, Organization Size, Vertical, and Region - Global Forecast to 2021

  • $ 5650
  • Industry report
  • March 2017
  • by MarketsandMarkets

“The workforce management market (WFM) is projected to grow at a CAGR of 10.4% from 2016 to 2021” The WFM market size is expected to grow USD 4.49 billion in 2016 to USD 7.37 billion by 2021, at a ...

Workforce Management - Global Market Outlook (2016-2022)

Workforce Management - Global Market Outlook (2016-2022)

  • $ 4157
  • Industry report
  • March 2017
  • by Stratistics MRC

According to Stratistics MRC, the Global Workforce Management market is estimated at $4.71 billion in 2016 and is expected to reach $9.01 billion by 2022 growing at a CAGR of 11.4% from 2016 to 2022. ...


ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.