Europe Industrial Process Automation Market is expected to reach USD 27.75 billion by 2030

The stringent environmental regulations enforced by the European Union for the adoption of industrial automation and increasing adoption of industrial automation into various industries are driving up demand for the Europe Industrial Process Automation market during the forecast period.

Europe Industrial Process Automation Market was valued at USD 18.80 billion in 2022, and is predicted to reach USD 27.75 billion by 2030, with a CAGR of 4.11% from 2023 to 2030, according to new research by Next Move Strategy Consulting. European countries have taken a leading role in embracing industrial automation solutions across a variety of industries in the region, including chemical and petrochemical, paper and pulp, water and wastewater treatment, energy and utilities, oil and gas, pharmaceuticals, and food and beverages.

The rapid progress in automation technology has been a driving force behind the widespread adoption of automation in these sectors. Advancements such as the use of collaborative robots, the deployment of 5G networks, and the implementation of edge computing have empowered businesses to automate increasingly complex tasks, resulting in enhanced efficiency and productivity.

However, a major hindrance to the advancement of the industrial process automation market is the lack of standardization. When there is a deficiency of standardized protocols, it can encourage manufacturers to create their own proprietary systems that are difficult to replace or update. This can result in a scenario where businesses become excessively reliant on the technology of a single vendor, restricting their capacity to partner with multiple service providers.

Vendor lock-in can lead to higher expenses, diminished adaptability, and a decreased scope for innovation, all of which can negatively influence the growth of the industrial process automation market. Apprehensions regarding becoming entangled with a particular vendor's technology could dissuade companies from making investments 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 Europe 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 Europe Industrial Process Automation Market Report: 

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

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