Finland Industrial Process Automation Market

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Finland Industrial Process Automation Market by Component (Manufacturing Execution System (MES), Distributed Control System (DCS), Programmable Logic Control (PLC), Supervisory Control & Data Acquisition (SCADA), by End user (Oil & Gas, Chemicals & Refining, Energy & Power, Pulp & Paper, Metals & Mining, Pharmaceutical, Cement & Glass, and Others) – Opportunity Analysis and Industry Forecast, 2023–2030

Industry: Semiconductor & Electronics | Publish Date: 08-Nov-2023 | No of Pages: 118 | No. of Tables: 90 | No. of Figures: 34 | Format: PDF | Report Code : N/A

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Market Definition

Finland Industrial Process Automation Market was valued at USD 131.9 million in 2022, and is predicted to reach USD 204.2 million by 2030, with a CAGR of 4.65% from 2023 to 2030. Industrial process automation refers to the use of computer technology, along with hardware to control & monitor industrial processes such as inventory management, manufacturing, and production of goods.

It involves the integration of various technologies and systems, such as sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control & data acquisition (SCADA) systems, to streamline and optimize production processes including quality control, assembling, testing & inspection, packaging & labeling.

Process automation is applied to a wide range of industries, including oil & gas, chemical processing, food & beverage, and pharmaceuticals, among others. The goal of process automation is to improve efficiency, quality, and safety while reducing costs & minimizing human error. 

Thus, industrial process automation plays a significant role in modern manufacturing & production, enabling companies to operate more efficiently, produce higher-quality products, and create safer working environments for their employees when compared to traditional manual methods.

Finland's Industrial Automation Giants: ABB, Omron, and KUKA, Expanding and Innovating

Finland’s industrial automation companies such as ABB, Omron, and KUKA among others are investing heavily in the country and adopting various strategies for business expansion. For instance, in October 2022, ABB has inked a channel partner agreement with Insta Automation Oy, to expand its control systems business in Finland. 

The agreement follows a project that ABB and Insta have already started to work on together, deploying ABB’s Ability System 800xA DCS at one of the nation's wastewater plants. This development aims to ensure safe, efficient, & reliable operations and makes way for data collection and analytics for real-time insights.

 

Finland's Chemical Industry: Pioneering Carbon Neutrality and Innovation 

The chemical industry in Finland has set an ambitious goal of achieving carbon neutrality by 2045, demonstrating a strong commitment to environmental sustainability. Finnish chemical companies are actively promoting growth by introducing innovative and cutting-edge products and services. In this context, industrial process automation plays a crucial role by enhancing efficiency and sustainability in chemical manufacturing processes. 

The automation of industrial processes can help reduce energy consumption and emissions, aligning with the industry's goal of carbon neutrality. Moreover, as the chemical industry gains importance alongside sectors such as electronics and forest products, automation technologies can further contribute to its growth and competitiveness, fostering a sustainable and environmentally responsible approach to industrial processes. 

According to the European Chemical Industry Council, with revenues of USD 28.04 billion in 2021 and USD 13.8 billion of exports in 2021, the chemical industry is Finland’s largest export sector. It provided 19% of Finnish industrial output and 19% of exports. This is expected to propel the growth of the industrial process automation market in the country.

 

Lack of Standardization Processes Hampers the Market Growth in Finland

Lack of standardization is a significant challenge that can restrain the growth of the industrial process automation market. In the absence of standards, vendors may create proprietary systems that are difficult to replace or upgrade. This may lead to vendor lock-in, as companies become reliant on the technology of a particular vendor, limiting their ability to work with different vendors. 

Vendor lock-in can lead to higher costs, lower flexibility, and less innovation, which can negatively impact the growth of the industrial process automation market. Companies may be hesitant to invest in automation systems if they are concerned about being locked into a particular vendor's technology, limiting the growth of the market.

Seizing Opportunities: The Rising Adoption of Cloud-Based Automation Solutions

The increasing adoption of cloud-based automation solutions presents a significant growth opportunity for the industrial process automation industry. These solutions offer several benefits such as increased efficiency, productivity, and profitability for businesses. They can be easily scaled up or down, making them suitable for businesses of all sizes. 

Additionally, cloud-based solutions provide greater control and visibility into industrial processes, and can significantly reduce the costs associated with maintaining and upgrading hardware, software, and infrastructure.

Cloud-based automation solutions can significantly reduce the costs associated with maintaining & upgrading hardware, software, and infrastructure. As a result, companies can focus on their core competencies and invest resources in other areas of their business. With several companies investing in cloud-based solutions for managing and utilizing 3D data obtained from reality capture devices, it is evident that there is a growing interest in adopting these technologies. 

For instance, in January 2022, Accenture strategically invested through Accenture Ventures, in Cintoo, a provider of cloud-based solutions to manage and utilize 3D data obtained from reality capture devices. As a result, continued growth and innovation in the industrial process automation industry is expected in the future.

 

Competitive Landscape  

The Finland industrial process automation industry includes several market players such as Hitachi Ltd, Yokogawa Electric, Siemens AG, Mitshubishi Electric Corporation, Honeywell International Inc., ABB Ltd, Toshiba Corporation, Emerson Electric Co., Rockwell Automation Inc, Omron Corporation, and Fanuc Corporation, Schneider Electric SE, Endress+Hauser, Valmet OYJ, and Dwyer Instruments Inc.

Finland Industrial Process Automation Market Key Segments

By Component

  • MES

    • Hardware

    • Software

    • Services

  • DCS

    • Hardware

    • Software

    • Services

  • PLC

    • Hardware

    • Software

    • Services

  • SCADA

    • Hardware

    • Software

    • Services

  • Field Instruments        

  • Industrial Robots        

  • Human Machine Interface            

  • Process Analyzers and Drives

By End User

  • Oil and Gas

  • Chemicals and Refining

  • Energy and Power

  • Pulp and Paper

  • Metals and Mining

  • Pharma

  • Cement & Glass

  • Others

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2022

USD 131.9 million

Revenue Forecast in 2030

USD 204.2 million

Growth Rate

CAGR of 4.65% from 2023 to 2030

Analysis Period

2022–2030

Base Year Considered

2022

Forecast Period

2023–2030

Market Size Estimation

Million (USD)

Growth Factors

Owing to the flourishing automotive industry.

Flourishing chemical industry.

Companies Profiled

15

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

  • Hitachi Ltd

  • Yokogawa Electric

  • Siemens AG

  • Mitshubishi Electric Corporation

  • Honeywell International Inc.

  • ABB Ltd

  • Toshiba Corporation

  • Emerson Electric Co.

  • Rockwell Automation Inc

  • Omron Corporation

  • Fanuc Corporation

  • Schneider Electric SE

  • Endress+Hauser

  • Valmet OYJ

  • Dwyer Instruments Inc.

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Frequently Asked Questions

According to the report published by the Next Move Consulting, the Finland Industrial Process Automation Market business is expected to hit at $204.2 million (USD) by 2030

The Finland Industrial Process Automation Market industry includes several market players such as Hitachi Ltd, Yokogawa Electric, Siemens AG, Mitshubishi Electric Corporation, Honeywell International Inc., ABB Ltd, Toshiba Corporation, Emerson Electric Co., Rockwell Automation Inc, Omron Corporation, and Fanuc Corporation, Schneider Electric SE, Endress+Hauser, Valmet OYJ, and Dwyer Instruments Inc.

The Finland Industrial Process Automation Market share is segmented on the basis of component and end user.

The growth of the Finland Industrial Process Automation Market is owing to the flourishing automotive industry and chemical industry.

The lack of standardization limits the growth of Industrial Process Automation Market in Finland.

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