PROCESS AUTOMATION MARKET OVERVIEW
"Process Automation Market" is estimated to reach at a high CAGR during the forecast period (2023-2030). Machines are used in place of people during the automation process to carry out tasks. The phrase frequently refers to business process automation, where software applications carry out many tasks for the modern, digital corporation. The companies start by automating simple support or departmental processes, such as data capture and expense approval. Automating is a more complex, cross-functional activity using advanced technologies to handle event-driven, mission-critical, core business processes.

Process automation offers several advantages for companies across a wide range of industries. It increased efficiency and productivity of automation can help companies increase efficiency and productivity by reducing human error, increasing the speed and accuracy of processes and enabling the ability to handle more work with fewer employees. Automation can improve quality control by standardizing processes and reducing the risk of human error. Automated processes are consistent and repeatable, which leads to higher-quality products and less rework. Automation can help to improve safety by reducing the need for human intervention in dangerous environments. Automation can help companies to reduce costs by minimizing the need for manual labor, minimizing errors and rework and reducing energy consumption.

Process automation can provide real-time data and feedback to help managers make better-informed decisions. Automation can improve the efficiency of the manufacturing process and enable the optimal usage of resources like materials, energy and machine time. Automated processes can be easily scaled up or down as needed to match the changes in demand or capacity. It increased reliability and availability, as automated processes are less prone to failure, downtime and maintenance than manual processes. Process automation can help companies improve efficiency, productivity, quality, safety and competitiveness and meet customers' changing needs in an increasingly competitive and rapidly evolving business environment.



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PROCESS AUTOMATION MARKET DYNAMICS AND TRENDS
The growing adoption of advanced technologies by key players to increase efficiency and productivity creates opportunities for process automation to grow in developing regions. However, the high cost of the implementation may restrain the market.

The growing adoption of advanced technologies by key players to increase efficiency and productivity creates opportunities for process automation to grow in developing regions

The increase in productivity that results from delegating monotonous jobs to robots who can work longer and faster than humans is one of the most evident benefits of process automation. A portion of the wasted time caused by the "productivity paradox," which states that as technology advances, processes become slower as individuals spend more time browsing apps, switching between them, learning them, and other activities, is also resolved by automation. Process automation offers a remedy for this shoddy technological integration. Depending on the process automation robots being used, production can be increased to a certain extent. There are two distinct sorts, and they interact with humans differently.

For instance, attended bots could complete transactions and can collaborate with people. A bot and a human split the labor in this case. For instance, a human might concentrate on duties focused on the consumer's needs while the bot manages data, calculations, reporting, and notifications. The process is slower with attended RPA because of the human component. However, in the case of unattended bots, processes are automated and carried out without human intervention. Due to the bots' unrestricted 24/7 operation, production has increased. The nature of the firm will determine the kind of bot you choose. Process automation frees personnel from mundane, repetitive duties so they can devote their time to more important projects that call for human thought. The respective fact saves money by freeing up your employees' idle time so they can work on more difficult problems. The fact above lowers the portion that enables businesses to reinvest those unnecessary expenditures in places that could further positively impact the company's economy.

The high cost of implementation of automation technology hampers the market growth

The high cost of implementation is a major restraint on the global process automation market. Implementing process automation solutions can be expensive, requiring significant hardware, software and service investments. The cost of these technologies can be prohibitive for small and medium-sized enterprises (SMEs) with limited budgets for technology investments.

The cost of training employees and integrating process automation solutions into existing systems can also be high. These costs can make it difficult for companies to justify the investment in process automation technologies, especially in the short term. Furthermore, some industries have specific requirements and need customization in the process automation system, which can add to the cost. Also, if the process automation system needs to be designed and implemented correctly, it can lead to additional costs in the form of maintenance and upgrades.

COVID-19 IMPACT ANALYSIS ON PROCESS AUTOMATION MARKET
The COVID-19 pandemic has significantly impacted the global process automation market. The market has experienced both positive and negative effects as a result of the pandemic. One of the positive effects has been an increase in demand for automation solutions as companies look to increase efficiency and reduce costs in the face of economic uncertainty. The pandemic has also accelerated the shift towards digitalization and remote work, which has increased the need for automation solutions that can help companies manage processes remotely.

The pandemic has also harmed the market, as many companies have reduced or delayed their investments in automation due to economic uncertainty and budget constraints. Additionally, supply chain disruptions and travel restrictions have made it difficult for companies to install and implement new automation solutions. Furthermore, the pandemic has changed how many industries operate and may have shifted many businesses' priorities.

The sectors that have seen an increase in demand for automation include the healthcare, food and beverage, retail and e-commerce sectors, as these sectors have been particularly affected by the pandemic. The process automation market will likely grow slower than previously forecast. The market is expected to recover as the global economy improves and companies begin to invest in automation solutions again. The long-term impact of the pandemic on the market remains uncertain. It is also a growing concern about the impact of automation on jobs and how the pandemic may have accelerated the trend of automation replacing human labor. Governments, organizations and companies are looking at ways to mitigate the negative effects of automation on employment and society while also taking advantage of the benefits that automation can provide.

PROCESS AUTOMATION MARKET SEGMENTATION ANALYSIS
The global process automation market is segmented into technology, type, communication protocol, end-user and region.

The rapid adoption of process automation to improve efficiency helps supervisory control and data acquisition technology to dominate globally

The supervisory control and data acquisition (SCADA) technology segment dominates the global process automation market due to the increasing adoption of automation technology in many industries. Supervisory control and data acquisition (SCADA) uses a collection of hardware and software elements and enables industrial businesses to use human-machine interface (HMI) software to interact directly with equipment like pumps, sensors, valves, motors and others, as well as to monitor, gather, and process real-time data and record events in a file.

SCADA systems are necessary for industrial organizations because they process data to improve choices, maintain efficiency and alert users to system issues to minimize downtime. Remote terminal units (RTUs) or programmable logic controllers (PLCs) are the first components of the basic SCADA system (RTUs). PLCs and RTUs are small computers that interface with various devices, including factory equipment, HMIs, sensors and end devices. These computers then use SCADA software to transport the data from these objects to other computers. Operators and other staff members can use the data that the SCADA software processes, distributes, and displays to analyze the information and make critical choices.

Industrial organizations and businesses in the public and private sectors use SCADA systems to regulate and maintain efficiency, disseminate data for wiser decisions, and notify system problems to reduce downtime. SCADA systems are effective in various businesses because they can be installed in small, straightforward configurations or big, complicated ones. Many contemporary sectors, including those in food and beverage, transportation, manufacturing, oil and gas, water and wastewater, energy and power and recycling, among others, are supported by SCADA systems.

PROCESS AUTOMATION MARKET GEOGRAPHICAL SHARE
Large-scale manufacturing industries in the region bolster the growth of the North American process automation market

U.S. is one of the biggest manufacturing economies in the world. The advent of AI and automation solutions is anticipated to transform the country's manufacturing sector's source of value creation, the development of new business models, and the provision of value-added services like predictive maintenance and mass customization. Additionally, there are 20 significant new water treatment construction projects across the nation that cost individually, on average, about US$5 billion.

Major corporations throughout the world are also interested in establishing rehabilitated wastewater pipelines. Numerous aspects of federal legislation are anticipated to benefit the nation's industrial industry. For instance, the Advanced Manufacturing Partnership (AMP) is a national effort encouraging businesses, academic institutions, and the federal government to invest in cutting-edge technologies. Additionally, Canada participates in several International Energy Agency Technology collaboration initiatives in renewable energy and end use, such as the International Smart Grid Actions Network. In order to enhance the use of renewable energy sources and energy efficiency in the built environment and power systems, academics are working together on R&D projects.

PROCESS AUTOMATION COMPANIES AND COMPETITIVE LANDSCAPE
The global process automation market is competitive due to various automotive services catering to different end-use applications. The major players contributing to growth in the market are ABB LED, ABB, Emerson Electric Co., General Electric., Honeywell International, Mitsubishi Electric, Schneider Electricm., Siemens, Okogawa Electric and Omron Corporation. The major players in the market adopt several growth strategies such as new product launches, gradation of existing products, textiles, collaborations and government tie-ups to contribute to the growth of the global industry.

ABB

Overview: ABB is a technology pioneer in electrification and automation, paving the way for a more sustainable and resource-efficient future. Engineering know-how and software are combined in the company's solutions to optimize how things are manufactured, moved, powered, and operated. ABB is committed to driving innovations that accelerate industrial transformation, building on more than 130 years of excellence.

Product Portfolio

Distributed Control Systems (DCS): ABB's Distributed Control Systems (DCS) are designed to transform process operations. DCS architecture continuously monitors and drives plant productivity, maximizing asset utilization, process efficiency and product quality.
Key Developments:

On July 2021, ABB and Red Hat announced a global partnership to help industries that use ABB's process automation and industrial software scale quickly and flexibly by leveraging Red Hat's industry-leading enterprise platforms and application services built on Red Hat Enterprise Linux.

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