Market News Point

The growing demand for automated processes and instruments from large enterprises along with rising adoption of internet of things (IoT) across various industries are some of the key factors driving the growth of process automation and instrumentation market . Process automation is a technology-enabled automation of complex and repetitive manual processes. By simplifying and streamlining organizational process, process automation and instrumentation optimizes collaboration between resources, increases productivity, provides transparency, reduces cost, and assures compliance. Based on component, the process automation and instrumentation market has been segmented into hardware, software and services. The hardware category held the largest market share in terms of revenue in 2017, owing to its high deployment among large enterprises. The hardware category is further bifurcated into controllers, switches, human machine interface (HMI), remote telemetry unit (RTU) and input/output (I...