Home » Computer & Software, Picture Gallery » Field Device Management Market to reach a market size of $2 billion by 2025- KBV Research

Field Device Management Market to reach a market size of $2 billion by 2025- KBV Research




 

According to a new report Global Field Device Management Market, published by KBV Research, The Global Field Device Management Market size is expected to reach $2 billion by 2025, rising at a market growth of 7.3% CAGR during the forecast period. On the field device level of sensors and actuators with digitally-enabled devices, digital transformation is considered to be the most important step. It helps industrial companies transition from reactive maintenance to predictive maintenance and also allows them to automate asset management approaches to enhance efficiency and reduce costs. Increasing adoption of intelligent field device management systems also helps reduce waste, enhance security and increase operational efficiency.

By having the largest market share, the field device management software decimated the market in 2018 and is projected to grow at a prominent growth rate over the forecast period. This segment\-\-s growth depends primarily on increasing adoption of automation technologies in multiple industries, Industry 4.0, and IoT. The Hardware market is anticipated to grow at a CAGR of 7.1% during (2019-2025).

Due to the increasing cybersecurity issues, the on-premises segment retains the largest share among both deployment types. Deploying field or site device management on-premise provides better deployment flexibility and protection for complete system control at the data center. The Cloud market witnessing significant growth and grows at a CAGR of 11.3% during (2019-2025).

In the North America region, especially due to the performance impact of the US, field device management system technology is gaining a significant market size. The implementation of field device management systems is rapidly growing in the US as the manufacturing environment is undergoing a technological boom. Increasing demand for FDM solutions in the automation industry, smart factory, growing adoption of Industry 4.0, IoT, and IIoT technologies, and increasing investment in FDM solutions development are among the factors that drive APAC\-\-s field device management market growth.

The Process Industries market dominated the Global Field Device Management Market by Industry 2018. Oil & gas, energy & power, chemicals, food & beverages, pharmaceuticals, metals & mining are some of the most important process industries. The rise of Industry 4.0 and the advancement of big data have created unique opportunities for process industries to take their output to a new level. Nearly all process industries need basic process monitoring and control. The Discrete Industry market showcases promising CAGR of 8.6% during (2019-2025).

Structural Insights: https://www.kbvresearch.com/field-device-management-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Yokogawa Electric Corporation, Siemens AG, Emerson Electric Co., Honeywell International, Inc., ABB Group, Schneider Electric SE, Rockwell Automation, Inc., Omron Corporation, Mitsubishi Electric Corporation and Azbil Corporation.

Recent Strategies Deployed in Field Device Management Market

? Partnerships, Collaborations and Agreements:

Nov-2019: Yokogawa Electric teamed up with MetaMoJi Corporation for jointly developing the SensPlus Note, an easy to implement and low cost solution for digitization of plant data on mobile devices. This solution is aimed at improving the quality and efficiency of maintenance works and the precision of post-maintenance analysis through enabling the data from plant field work to be used more efficiently.
Sep-2019: Emerson signed partnership agreement with Cisco for introducing next-generation industrial wireless networking solution, which transforms the data management for the improvement of safety, plant productivity, and reliability. The new solution, Emerson Wireless 1410S Gateway with Cisco Catalyst? IW6300 Heavy Duty Series Access Point integrates the latest in wireless technology with advanced WirelessHART? sensor technology. This delivers highly secure and reliable data in the harshest industrial environments.
Aug-2019: ABB announced that it has been selected by Sappi, a producer of dissolving wood pulp. In this agreement, ABB supplies procurement, engineering, and construction for control, electrical, and instrumentation portion of a project in South Africa. This is the first paper and pulp project that uses the single channel, Ethernet-based Select IO.
Jun-2019: ABB signed an agreement with HPE on wireless connectivity for the large industrial customers in which the ABB sensors attached to industrial equipment are connected to the cloud via HPE gateways. This integration offers the industrial companies the chance for predictive maintenance and to run condition monitoring on their pumps, bearings, motors, and other industrial components.
May-2019: Honeywell teamed up with Ouman, the leader in producing HVAC controllers. The collaboration is aimed at accelerating the sales of field devices in Baltics and Nordics. It also focused towards their co-operation in HVAC technologies.
May-2019: ABB teamed up with Kemira for digitalization of water treatment process. This would be done through integrating ABB?s integrated automation solutions, critical field and plant components with Kemira?s strong chemistry and smart process optimization expertise in municipal and industrial water treatment. This improves the efficiency and performance of operations.
Mar-2019: Siemens came into partnership with Litmus Automation, an Industrial Internet of Things (IIoT) platform provider. In this partnership, Litmus joined the MindSphere Partner Program, the Siemens partner program for Industrial IoT solutions and technology providers. This partnership allows Siemens to bring the powerful edge computing to MindSphere ecosystem in order to improve the customers\-\- ability in gathering valuable data from edge.
Mar-2019: Emerson partnered with Repsol, an energy company. The partnership allows Repsol and Emerson to produce commercially available software products for license for helping the services and oil field operator companies.
Feb-2019: Rockwell Automation signed an agreement with Schlumberger, a leading provider of technologies for oil and gas industry. They both agreed to establish a joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider. The JV helps the customers driving efficiency gains through measurement and data driven intelligent automation.
Jan-2019: Omron teamed up with Aegis Software, a provider of Manufacturing Execution Software (MES). In this collaboration, Aegis? FactoryLogix MES platform is integrated with Omron Inspection Systems? complete suite of award-winning SPI (Solder Paste Inspection) and AOI (Automated Optical Inspection) systems. This integration offers Omron customers with an enhanced automated method for the identification and collection of manufacturing defect data and improved quality control while inspection.

? Acquisition and Mergers:

Jul-2019: Emerson acquired Zedi?s software and automation businesses. Zedi\-\-s technology allows the customers in monitoring thousands of devices and applications and more than 2 million sensors. The addition of Zedi\-\-s cloud supervisory control and data acquisition (SCADA) platform enables Emerson to help oil and gas producers in lowering the operating costs and increase production through cloud-based control, monitoring, and optimization.
Jun-2019: Mitsubishi Electric announced that it has acquired Iconics, Inc. for establishing a software center of excellence and strengthens its software portfolio. Iconics software has been used in SCADA, mobile, HMI, analytics, IoT, and cloud applications.
Dec-2018: Emerson took over iSolutions, Inc., a consulting group with the expertise implementing and designing data management solutions. The acquisition accelerates the delivery of Emerson?s new digital transformation roadmap through adding the proven skillsets in information technology. iSolutions offers decision-support tools to organizations for making data-driven production and operational decisions based on analysis of real-time insights from integrated field and plant systems.
Jul-2017: Yokogawa Electric acquired TechInvent2 AS, an enterprise that holds the rights to FluidCom, a chemical injection metering valve. The acquisition bolsters Yokogawa\-\-s capabilities in improving operational efficiency, enhances health, reduction in operational costs, and enhances the safety and environment.

? Geographical Expansions:

Aug-2019: Azbil opened a new production unit at its main factory near Shonan city in Japan. This new production unit would be the part of \-\-mother factory\-\-. This new unit is aimed at consolidating the domestic factories in order to create and advanced production network, which brings humans, machines, and processes together.
Jul-2018: Azbil expanded its reach to Asia by opening a new strategic planning and development office in Singapore. This new office has been opened for expanding its business through introducing advanced business models such as \-\-Energy Management\-\- business.

? Product Launches and Product Expansions:

Dec-2019: Siemens has launched Simatic ET 200eco PN, a new generation of machine-level block I/O devices. The new I/O family with IP65/67 degree of protection includes an IO-Link master device and five digital I/O devices and provides the users a complete range of new functions for modern machine concepts and requirements.
Sep-2019: Schneider Electric introduced new IIoT-based products for water industry. These products include EcoStruxure Pumping Performance Advisor, EcoStruxure Hybrid DCS, and EcoStruxure Augmented Operator Advisor for PROficient Premier Access Portal. These new products offer greater operational insights and process data.
Apr-2019: Rockwell Automation unveiled FactoryTalk Analytics LogixAI module that uses artificial intelligence for detecting the anomalies in production and alerts the workers. This helps the workers in making better production decisions.
Mar-2019: ABB introduced novel Distributed Control System (DCS) 800xA 6.1 that offers additional high integrity controllers, Ethernet I/O solutions, and several engineering tools. The hardware footprint and testing efforts has been reduced remarkably through this new system. Also, the standardized cabinets-which are pretested can be connected directly into field devices and eliminates the requirements for physical marshaling cabinets.
Mar-2019: ABB released Ability Wellhead Manager, a new system for the optimization of oil and gas operations worldwide. This system can gain insights about their production assets anywhere in the world. The system supports better decision making, with the field production data gathered and visualized digitally with the use of progressive web applications.
Feb-2019: Siemens introduced PDM Maintenance Station V3.0, a tool that efficiently monitors the condition of smart field devices irrespective of the control systems or the automation systems used. It is a universal, non-proprietary tool for parameterization, configuration, monitoring, and commissioning of smart field devices.
Feb-2019: Emerson announced the launch of AMS Device Manager, plant asset management software. This software improves the plant reliability through organized data for informed and proactive management of field devices. This software\-\-s enhanced bulk transfer offers the tools to configure whole system automatically.
Feb-2019: ABB announced the launch of new ABB Ability e-mesh solution; a new solution provides an integrated single and unified view of their distributed energy resources to the power grid operators. The solution enables the industries, utilities, independent power producers, and operators for making faster, smarter, and more effective decisions by controlling and monitoring their sites and fleets remotely.
Feb-2019: Mitsubishi extended its MELIPC series of industrial PCs for control applications and edge computing with the launch of two new MI3000 units. These units\-\- offers scalability and flexibility for enabling the optimal system design for wide range of applications.
Jan-2019: Yokogawa launched FieldMate Version 3.0, a PC/Tablet based-configuration tool. This tool enables the users in performing initial instrumentation equipment setups, troubleshooting, daily maintenance, and historical record keeping. This tool features integrated communication paths for the process automation protocols such as FOUNDATION fieldbus, PROFIBUS, ISA100.11a wireless, HART, Modbus, and Yokogawa?s proprietary BRAIN protocol.

Global Field Device Management Market Segmentation

By Industry

? Process Industries

Energy & Utilities
Oil & Gas
Metals & Mining
Chemicals & Pharmaceuticals
Food & Beverages
Others

? Discrete Industry

Automotive
Manufacturing
Aerospace & Defense

By Offering

Software
Hardware

By Deployment Type

On Premise
Cloud

By Geography

North America

US
Canada
Mexico
Rest of North America

Europe

Germany
UK
France
Russia
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific

LAMEA

Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA

Companies Profiled

Yokogawa Electric Corporation
Siemens AG
Emerson Electric Co.
Honeywell International, Inc.
ABB Group
Schneider Electric SE
Rockwell Automation, Inc.
Omron Corporation
Mitsubishi Electric Corporation
Azbil Corporation

Field Device Management Market Related Reports:

North America Market
Europe Market
Asia Pacific Market
LAMEA Market





Posted by on 21. January 2020. Filed under Computer & Software, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

You must be logged in to post a comment Login

Archive

Recent Comments

    © 2020 So-Co-IT. All Rights Reserved. Log in - Copyright by LayerMedia


    Blogverzeichnis - Blog Verzeichnis bloggerei.de Blog Top Liste - by TopBlogs.de Bloggeramt.de