Market Snapshot
| Study Period: | 2018-2026 |
| Base Year: | 2020 |
| CAGR: | 9.82 % |
|
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Market Overview
The Latin America Process Automation Market is expected to witness a CAGR of 9.82% over the forecast period 2021 - 2026. The COVID-19 pandemic created an economic turmoil for small, medium, and large-scale industries across the world. Adding to the woes, country-wise lockdown inflicted by the governments around the world, to minimize the spread of the virus, impacted the growth of industries.
- Automation has become an important part of modern manufacturing and industrial processes. It helps enterprises to realize the aforementioned priorities. Companies all over the world are automating their processes with the help of different technologies like SCADA, DCS, MES and PLC. The demand for these technologies is escalating and many vendors are manufacturing solutions to help enterprises achieve higher efficiency in their manufacturing processes.
- The automation industry has been revolutionized by the combination of the digital and physical aspects of manufacturing, aimed at delivering optimum performance. Further, the focus on achieving zero waste production and shorter time to market has augmented the growth of the market.
- Automation of manufacturing processes has offered various benefits, such as effortless monitoring, reduction of waste, and speed of production. This technology offers customers an improved quality with standardization and dependable products within time, and at a much lower cost.
- Connecting the industrial machinery and equipment and obtaining real-time data have played a key role in the adoption of SCADA, HMI, PLC systems, and software that offer visualization; thus enables reducing the faults in the product, reducing downtime, scheduling maintenance, and switching from being in the reactive state to predictive and prescriptive stages for decision-making.
Scope of the report
The study characterizes the process automation market based on the system type, end-user industry and country.The study characterizes the process automation market based on the technology type, communication protocol that includes wired and wireless protocol, end-user industry, and country. The scope of the market is limited to the manufacturing/processing industry. Services or business process automation is excluded.
| Technology Type | |
| Supervisory Control and Data Acquisition (SCADA) | |
| Programmable Logic Controller (PLC) | |
| Distributed Control System (DCS) | |
| Manufacturing Execution Systems (MES) | |
| Others |
| Communications Protocol | |
| Wired Protocols | |
| Wireless Protocols |
| Type of Solutions | |
| Hardware | |
| Software | |
| Services |
| End-User Industry | |
| Chemical & Petrochemical | |
| Paper & Pulp | |
| Automotive | |
| Water & Waste Water Treatment | |
| Energy & Utilities | |
| Oil & Gas | |
| Pharmaceutical | |
| Food, Tobacco, and Beverages | |
| Others |
| Country | |
| Brazil | |
| Mexico | |
| Argentina | |
| Rest of Latin America |
Key Market Trends
Pharmaceutical Industry to Grow Significantly
- The IoT demand trend is expected to shift toward industrial space from consumer demand over the coming years, with sheer volumes demand driven by various Industry 4.0 applications. A significant share of the demand is expected to drive by process industries, such as pharmaceutical,
- There is an increase in the importance of providing precision to measure the quantity of medicine consumped which has increased the demand for measuring equipments for the same.
- Increase in need for process automation solutions to various processes such as manufacturing, testing, drug development, packaging and distribution are among the factors that are likely to propel the growth in the pharmaceutical industry in process automation and instrumentation market.
- Additionaly, increased number of pharmaceutical companies for process automation solutions have entered the market due to complex manufacturing processes such as milling, granulation, coating, and tablet pressing.
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Growth in Internet of Things (IoT) to Drive the Market
- IoT solutions in Latin America, specifically Mexico, Brazil, and Argentina, have grown from servicing the supply chain process, to adding visibility to healthcare, government offices and hospitality industries. The rapidly growing implementation of Wi-Fi, RFID, Bluetooth and sensors have brought on the IoT revolution, which is believed to be the most transformative technology for the next decade by 99% of respondents.
- The increasing demand for connected and wearables devices is also aiding the growth of the market.With the high rate of adoption of connected devices and sensors and the enabling of M2M communication, there has been a surge in the data points that are generated in the manufacturing industry.
- According to Zebra’s latest Manufacturing Vision Study, smart asset tracking solutions based on IoT and RFID are expected to overtake traditional, spreadsheet-based methods by 2022. A study by Industrial IoT (IIoT) company. Microsoft Corporation. found that 85% of companies have at least one IIoT use case project. This number may increase, as 94% of respondents said they would implement IIoT strategies by 2021.
- The IoT demand trend is expected to shift toward industrial space from consumer demand over the near future, primarily driven by various Industry 4.0 applications. Furthermore, process industries, such as chemical and petrochemical, paper and pulp, water and wastewater treatment, energy and utilities, oil and gas, pharmaceutical, food and beverages, are expected to fuel the market’s growth. Similar trends were observed in the European market as well.
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Competitive Landscape
The Latin America Process Automation Market is moderately fragmented with few new entrants and few dominant players in the market. The companies keep on innovating and entering into strategic partnerships in order to retain their market share.
- July 2021 - Rockwell Automation, Inc announced a partnership with Kezzler AS, a cloud-based product digitization and traceability platform, to help manufacturers capture the journey of their products from raw material sources to point-of-sale or beyond using cloud-based supply chain solutions that focus on product traceability.
Recent Developments
- May 2020 - RoviSys announced its collaboration with VANTIQ a developer of next-generation applications to develop applications that can detect and contain COVID-19 in the food and beverage industry, apart from the critical life science sector.
- January 2020 - Emerson Electronic Co. launched a new portfolio of RXi industrial display and panel PC products to minimize the lifecycle cost in industrial applications and improve production processes in life sciences, power and water, metals & mining, manufacturing, and machinery industries.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHADOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Government Incentives for the Manufacturing Industry
4.2.2 Reducing Cost of Automation Solutions and Increasing Labor Wages
4.2.3 Increased Focus on Manufacturing Industry and Need for Energy Efficiency
4.3 Market Restraints
4.3.1 Reliability Issues with Cloud Computing Escalating the Skepticism Levels
4.3.2 Lack of Skilled Workforce
4.4 Industry Value-Chain Analysis
4.5 Industry Attractiveness Porters Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
4.6 Technology Overview
4.6.1 Technology Snapshot
4.6.2 Applications
5. MARKET SEGMENTATION
5.1 Technology Type
5.1.1 Supervisory Control and Data Acquisition (SCADA)
5.1.2 Programmable Logic Controller (PLC)
5.1.3 Distributed Control System (DCS)
5.1.4 Manufacturing Execution Systems (MES)
5.1.5 Others
5.2 Communications Protocol
5.2.1 Wired Protocols
5.2.2 Wireless Protocols
5.3 Type of Solutions
5.3.1 Hardware
5.3.2 Software
5.3.3 Services
5.4 End-User Industry
5.4.1 Chemical & Petrochemical
5.4.2 Paper & Pulp
5.4.3 Automotive
5.4.4 Water & Waste Water Treatment
5.4.5 Energy & Utilities
5.4.6 Oil & Gas
5.4.7 Pharmaceutical
5.4.8 Food, Tobacco, and Beverages
5.4.9 Others
5.5 Country
5.5.1 Brazil
5.5.2 Mexico
5.5.3 Argentina
5.5.4 Rest of Latin America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 ABB Ltd
6.1.2 Honeywell International Inc.
6.1.3 Siemens AG
6.1.4 Schneider Electric
6.1.5 Mitsubishi Motors Corporation
6.1.6 Rockwell Automation, Inc
6.1.7 Emerson Electric Co.
6.1.8 Danaher
6.1.9 Cameron International
6.1.10 Texas Instruments
6.1.11 Eaton Corporation
6.1.12 General Electric Corporation (GE)
6.1.13 Endress+Hauser Group
6.1.14 Krohne Messtechnik GMBH
7. INVESTMENT ANALYSIS
8. FUTURE OUTLOOK OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The LA Process Automation Market market is studied from 2018 - 2026.
What is the growth rate of LA Process Automation Market?
The LA Process Automation Market is growing at a CAGR of 9.82% over the next 5 years.
Who are the key players in LA Process Automation Market?
ABB Ltd, Emerson Electric Co., Honeywell International Inc, Eaton Corporation, Rockwell Automation are the major companies operating in LA Process Automation Market.
