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Remote Monitoring Infiltrates Process Industries, Provokes Automation Service Opportunities Globally Finds Frost & Sullivan - Maintaining a global presence while ensuring local availability will help service providers unearth the market’s full potential - IndustrialAutomation.Frost.com
Remote Monitoring Infiltrates Process Industries, Provokes Automation Service Opportunities Globally Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2014/08/14 - Maintaining a global presence while ensuring local availability will help service providers unearth the market’s full potential - IndustrialAutomation.Frost.com.

   
 
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The implementation of greenfield projects in the oil and gas industry, expansion projects in the chemical industry, and integration projects in the hygienic industry are lending momentum to the global automation services market for process industries. Declining availability of a skilled workforce encourages outsourcing of operation and maintenance services to automation companies. Increasing competitive pressures further compel process industries to engage automation solution providers for operational improvement services in order to avoid costly downtimes, optimize production, improve energy efficiency, and mitigate risks.

New analysis from Frost & Sullivan, Global Automation Services Market for Process Industries, finds that the market earned revenues of $16.04 billion in 2013 and estimates this to reach $24.29 billion in 2020. Consulting services, project engineering, and installation services will have high growth opportunities in greenfield projects during the forecast period; whereas demand for maintenance, support and operational improvement services will emerge from brownfield projects.

“The automation services market is primarily driven by engineering, procurement and construction (EPC) firms, tier I automation providers, and system integrators,” said Frost & Sullivan Industrial Automation and Process Control Senior Industry Analyst Naveen Kumar Ramasamy. “End users will accept automation solution providers, in particular, as reliable service partners in the long term as they seek more comprehensive single-window services.”

However, increasing bench strength and capabilities have allowed system integrators to become value-added resellers and move up the service value chain, garnering a greater share of automation services and affecting profitability for established solution providers. Further, demand for end-to-end life-cycle services from automation solution providers has taken a hit in price-sensitive emerging markets such as India, China, Brazil and Vietnam.

The escalating number of cyber threats is also curbing use of remote monitoring and diagnostics services in developed countries. Additionally, aging workforces in many matured markets will force adoption of remote services with cross-industry expertise. Ultimately, these services will enable process industries to focus on core competencies.

“To address opportunities in a specific end-user vertical in a specific region, global automation market participants must concentrate on building service-based organization capabilities in the short-term and consolidate the resources in the ecosystem during the medium-term,” observed Ramasamy. “They will reap the benefit of this sustained revenue stream during the long term of the forecast period, that is, in five to seven years.”

Automation vendors which offer “glocal” services” with a global presence and local availability will find ready customers in the chemical, oil and gas, food and beverage sectors in North America; pharmaceuticals and power in Asia-Pacific; water and wastewater in Europe; pulp and paper in Latin America; and metals and mining in Africa and South America.

Global Automation Services Market for Process Industries is part of the Industrial Automation & Process Control (industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: North American Terminal Automation Market, Global Programmable Logic Controllers Market, Automation and Control Solutions Market in CIS Countries, 2013 Global Automation Market Fact book and Global Automation and Control Systems (ACS) Market in the Upstream Oil and Gas (O&G) Industry. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

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Global Automation Services Market for Process Industries / ND08-10

 
 
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Remote Monitoring Infiltrates Process Industries, Provokes Automation Service Opportunities Globally Finds Frost & Sullivan

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