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
Italy Industrial Process Automation Market was valued at USD 2.72 billion in 2022, and is predicted to reach USD 4.69 billion by 2030, with a CAGR of 5.86% 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.
Italy has a highly diversified manufacturing sector, with companies that specialize in a range of products, from machinery and equipment to fashion and luxury goods. The international trade administration states that as of 2022, Italy was the second-largest producer in Europe, with the biggest capacity in industries including machine tools, textiles, food items, automotive, and pharmaceuticals. Moreover, the government of Italy is taking several initiatives in the country to increase the popularity and adoption of Industry 4.0, which in turn is expected to boost the growth of the market.
For instance, in March 2022, the Italian minister of economic development allotted a fund of USD 1.01 billion for investments in Industry 4.0 in the country as a part of the National Recovery and Resilience Plan (PNRR). It integrates the Internet of Things (IoT) or smart digital technology, machine learning, and big data with physical operations to create a better-connected ecosystem for companies.
The goal is to encourage and support innovative and sustainable industrial research and experimental development projects of strategic importance for the technological competitiveness of companies. This, in turn increases the adoption of industrial process automation solutions.
The various prominent key players that operate in the industrial process automation industry are adopting various strategies to establish their market presence in the region. For instance, in June 2021, Siemens Italy signed a Memorandum of Understanding with Maire Tecnimont Group’s main EPC contractor Tecnimont to provide advanced digital predictive maintenance services to help consumers increase industrial operability and reduce maintenance costs.
The agreement calls for the enterprises to collaborate on a predefined set of feasibility studies to advance the use of predictive maintenance technology to monitor important plant assets. Thus, it is expected to augment the growth of the market in Italy.
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.
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.
The Italy 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.
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
Oil and Gas
Chemicals and Refining
Energy and Power
Pulp and Paper
Metals and Mining
Pharma
Cement & Glass
Others
Parameters |
Details |
Market Size in 2022 |
USD 2.72 Billion |
Revenue Forecast in 2030 |
USD 4.69 Billion |
Growth Rate |
CAGR of 5.86% from 2023 to 2030 |
Analysis Period |
2022–2030 |
Base Year Considered |
2022 |
Forecast Period |
2023–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
Highly diversified manufacturing sector. The significant presence of key market players. |
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. |
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.