The Global Fieldbus Market for Process Industry 2016 to 2020

Date: 2/29/2016

The Global Fieldbus Solutions Market for Process Industry from 2016 to 2020

The Global Fieldbus Solutions Included Profibus, Modbus, Devicenet, AS-I, and SERCOS for The Process Industry to Grow at A CAGR of 8% From 2016 To 2020

  • By: Technavio
  • Publishing Date: March 09, 2016
  • Report SKU: IRTNTR8569

Market Outlook of the Fieldbus Solutions Market for Process Industry

Technavio’s research analyst predicts the global fieldbus solutions market for the process industry to grow steadily at a CAGR of 8% during the forecast period. The growing need to optimize plant asset management is the primary growth driver for this market. Sensors help detect plant errors, leaks, or short circuit and fieldbus solutions are used for real-time communication between the operator and sensors. Fieldbus solutions allow system integrators to check the operational status of the plant assets before the deployment and thus reduce downtime and increase productivity.

The integration of fieldbus with IIoT is expected to boost market growth during the forecast period. In process industries, fieldbus solutions are integrated with IIoT for better connectivity, safety, security, and high performance. The integrated fieldbus solutions can deliver real-time information on device status and diagnostic alerts that significantly will reduce the CAPEX and OPEX in process industries.

Product Segmentation and Analysis of the Global Fieldbus Solutions Market for Process Industry

  • Profibus
  • Modbus
  • DeviceNet
  • ASI

The Profibus segment dominated the market during 2015, with a market share close to 40%. The high adoption of DCS and PLC in process industries such as oil and gas, food and beverages, paper and pulp, and power, where Profibus is used as communicating network has boosted its demand.

Geographical Segmentation and Analysis of the Fieldbus Solutions Market for Process Industry

  • Americas
  • APAC
  • EMEA

The Americas accounted for more than 38% of the market share during 2015 and is expected to grow at a CAGR of 9% during the forecast period. The oil and gas industry in the Americas is one of the leading consumers of fieldbus solutions. The presence of a large number of oil and gas companies such as American Shoreline, Anadarko Petroleum Corporation, and Apache Corporation and the high requirement for a sturdy and secure communication network within plant operations is fueling the growth of fieldbus solutions market in the Americas.

Competitive Landscape and Key Vendors

The market has the presence of well-diversified international, regional, and local vendors. The vendors present in the market are expanding the market share by focusing on critical parameters like price, quality, technology advancements, brand image, distribution, and service support.

The Leading Vendors in The Market Are:

  • ABB
  • Emerson Electric
  • Endress+Hauser
  • Siemens
  • Schneider Electric

Other prominent vendors in the market include Azbil Corporation, Eaton Corporation, Flowserve, Krohne Group, Metso Oyj, Pepperl+Fuchs, Rockwell Automation, SAMSON, SMAR Industrial Automation, VEGA Grieshaber, and Yokogawa Electric.