Market Trends of North America Process Automation Industry
This section covers the major market trends shaping the North America Process Automation Market according to our research experts:
Oil and Gas is Expected to Grow Significantly
- Automation is a significant driver in the oil and gas industry. Digitization, automation, and new technologies give operators and technicians immediate access to critical performance, condition, and technical information. Oil and Gas companies in the studied region are increasingly adopting process automation, to enhance decision-making speeds, troubleshooting, and performance efficiency.
- The North American Oil and Gas companies often face challenges transitioning to more renewable sources. To meet the demand in diverse situations, energy companies need to focus on innovative technologies like process automation within their business models, to embrace innovation and increase efficiency.
- Modernizing internal processes with automation and better access to information about operations and maintenance will help the industry streamline production and distribution, and allow for a higher yield.
- There is surging demand for safety and reliability in the oil and gas industry's processes. The industry's supply chain creates a significant demand for automation, industry expertise, and an extensive partner network. Process automation helps oil and gas producers integrate information, control power, and provide safety solutions to respond to the dynamic global demand.
- Additionally, the upstream sector of the oil and gas industry involves several drilling activities that need to meet stringent government regulations and require intense planning, to cut down operational costs. Often, the industry deals with vast sets of spatial data, to make several decisions. Several process automation tools and analytical engines are employed in the sector, to harness the complete power of spatial data.
- With the fluctuation in crude oil price, several oil and gas companies are focusing on minimizing costs and maximizing efficiency throughout the distribution chain. To sustain in the rising competitive environment and decrease the retail margins, they need to optimize several processes in multiple sectors.
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United States is Expected to Account for Major Market Share
- Fuelled by Industry 4.0, the United States continues to innovate and consolidate its position in the global market in the factory automation and industrial control systems industry. The embracing of smart technologies in the studied market has also positively impacted the national economy.
- Increased global manufacturing integration is raising the pressure for automation investment, as cost minimization with quality maximization looms ever more significantly as an operating paradigm for U.S. manufacturers.
- With cyber-attacks increasing in smart factories in the United States, there is growing concern about using Industrial Control Systems. The government has plans to curb the rise of such crimes. This is aligned with the growing trend of industrial control systems manufactured in the country for smart factories to avoid the risk of cybersecurity breaches. Companies like Panasonic North America offer complete smart manufacturing solutions, including ERP and numerous others.
- Innovations based on the technological intersection is noted in the United States. For instance, in September 2020, the Wichita State University announced the launch of The Smart Factory@Wichita in collaboration with Deloitte, including a full-scale production line and hosting sponsors and experimental labs to expand the technological expertise.
- With investment roll-outs by the Biden government to revive the pandemic hit US economy, infrastructure, and the electronics industry are marked as the primary beneficiaries alongside the growth of small and medium-sized enterprises. The infrastructure and electronics industry are heavy users of the industrial control systems' hardware products and software solutions and are expected to have a direct positive effect.
- Technologies and terminologies such as process discovery, process optimization, process intelligence, and process orchestration are becoming a more significant part of the Robotic Process Automation (RPA). There is an ongoing trend of increasing a closer relationship between business process management (BPM) and RPA in the future.
- In addition, with reviving crude oil prices in the global market, investments into multiple oil and gas infrastructure projects are on the rise, especially in North America, Europe, and the Middle East regions. These projects are expected to spearhead the demand for process automation solutions worldwide.
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