China Industrial Process Automation Market is expected to reach USD 16.09 billion by 2030

The growing manufacturing sectors and increasing government initiatives are driving up demand for the China Industrial Process Automation market during the forecast period.

China Industrial Process Automation Market was valued at USD 8.63 billion in 2022, and is predicted to reach USD 16.09 billion by 2030, with a CAGR of 6.79% from 2023 to 2030, according to new research by Next Move Strategy Consulting. The industrial process automation market experiences impetus from multiple sources, including government-led initiatives and the integration of automation within sectors such as oil & gas, manufacturing, power generation, and chemicals.

Several government programs have been introduced to encourage the implementation of industrial process automation across these diverse industries. For instance, the "Made in China 2025" initiative aims to enhance the upgradation of the country's current manufacturing industry with advanced technologies such as MES, DCS, and HMI, among others.

However, a significant obstacle to the advancement of the industrial process automation market stems from the absence of standardized procedures. When there are no established protocols in place, it can incentivize manufacturers to create their own proprietary systems that are difficult to replace or upgrade. This situation can result in a scenario where companies become excessively dependent on a single vendor's technology, limiting their ability to engage with multiple service providers.

Vendor lock-in can lead to increased expenses, decreased adaptability, and restricted opportunities for innovation, all of which can negatively impact the growth of the industrial process automation market. Concerns about being bound to a specific vendor's technology may dissuade companies from investing in automation systems, thus impeding the market's expansion.

On the other hand, the increasing adoption of cloud-based automation solutions presents a significant growth opportunity for the industrial process automation industry. These solutions offer several benefits such as increased efficiency, productivity, and profitability for businesses. They can be easily scaled up or down, making them suitable for businesses of all sizes. 

Additionally, cloud-based solutions offer enhanced control and transparency within industrial processes, resulting in substantial reductions in expenses related to the upkeep and enhancement of hardware, software, and infrastructure. This cost-saving feature allows companies to redirect resources towards their core competencies and other strategic areas of their operations. The increasing adoption of cloud-based solutions for handling and harnessing 3D data acquired from reality capture devices indicates a noticeable surge in interest toward embracing these technologies. 

For instance, in January 2022, Accenture made a strategic investment via Accenture Ventures in Cintoo, a company that offers cloud-based solutions for the management and utilization of 3D data acquired from reality capture devices. As a result, continued growth and innovation in the industrial process automation industry is expected in the future.

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According to the report, leading players in the China Industrial Process Automation market include Hitachi Ltd, Yokogawa Electric, Siemens AG, Mitshubishi Electric Corporation, Honeywell International Inc., ABB Ltd, Toshiba Corporation, Emerson Electric Co., Rockwell Automation Inc, Omron Corporation, and Fanuc Corporation, Schneider Electric SE, Endress+Hauser, Valmet OYJ, and Dwyer Instruments Inc.

Key Insights from the China Industrial Process Automation Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the China Industrial Process Automation market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the China Industrial Process Automation market is provided in the report along with their competitive analysis.

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