Finland Industrial Process Automation Market by Component (Manufacturing Execution System (MES), Distributed Control System (DCS), Programmable Logic Control (PLC), Supervisory Control & Data Acquisition (SCADA), Field Instruments, Industrial Robots, and Process Analyzers and Drives), and by End-User (Oil & Gas, Chemical & Refining, Energy & Power, Pulp & Paper, Metals & Mining, Pharmaceutical, Cement & Glass, and Others) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Semiconductor & Electronics | Publish Date: 18-Oct-2024 | No of Pages: 123 | No. of Tables: 90 | No. of Figures: 54 | Format: PDF | Report Code : SE982
Finland Industrial Process Automation Market Overview
The Finland Industrial Process Automation Market size was valued at USD 156.5 million in 2023, and is predicted to reach USD 227.9 million by 2030, at a CAGR of 5.0% from 2024 to 2030. The industrial process automation sector refers to the industry that provides technologies and systems designed to monitor, control, and optimize industrial operations.
It involves the integration of advanced computer technology, hardware, and software solutions to automate key processes such as inventory management, manufacturing, production, and quality control.
The key technologies include sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control and data acquisition (SCADA) systems. This market serves industries such as oil and gas, chemical processing, food and beverage, and pharmaceuticals, where automation is crucial for improving operational efficiency, product quality, and workplace safety.
By reducing costs and minimizing human error, process control systems enable companies to streamline their production processes, ensuring higher output with greater precision. The demand for industrial process automation solutions continues to grow as businesses seek to enhance productivity and remain competitive in an increasingly automated global manufacturing environment.
Rising Electronic Manufacturing Industry Fuels, the Market Growth
Finland’s expanding electronic manufacturing industry plays a significant role in driving the industrial process automation market. The increasing demand for electronic devices across various sectors has pushed manufacturers to enhance productivity and production capabilities.
To meet this demand, electronic manufacturers are integrating collaborative robots into their facilities, automating critical processes such as inspection, assembly, pick & place, and machine tending.
This automation not only improves production efficiency but also enables manufacturers to keep pace with the growing demand for consumer electronics. Constant upgrades in production processes and the implementation of robots are key strategies adopted by manufacturers to maintain competitiveness in this evolving market.
Industrial Investment Boosts the Market Growth in Finland
Finland's industrial automation companies, including ABB, Omron, and KUKA, are making significant investments to expand their business and enhance automation solutions. These companies are adopting strategies such as partnerships to broaden their market presence.
For example, in October 2022, ABB signed a channel partner agreement with Insta Automation Oy to expand its control systems business in Finland. This collaboration involves deploying ABB's Ability System 800xA DCS to ensure efficient, reliable operations at wastewater plants, further driving automation in the country.
Additionally, Finland's chemical industry is pushing for carbon neutrality by 2045, that alongside its significant economic contribution, promotes the growth of automation as companies introduce new technologies to meet environmental goals. With the chemical industry being Finland’s largest export sector, automation plays a key role in ensuring sustainable growth and maintaining the sector’s position as a leader in industrial output.
Lack of Standardization Hinders the Growth of Industrial Process Automation Market
The lack of standardization is a major challenge that can limit the Finland industrial process automation market growth. Without common standards, vendors may develop proprietary systems that are hard to replace or upgrade. This can result in vendor lock-in, where companies become dependent on a specific vendor’s technology, restricting their ability to switch to other vendors.
Vendor lock-in often leads to increased costs, reduced flexibility, and less innovation, that negatively affect the industry growth. Companies might hesitate to invest in automation systems if they are worried about being tied to one vendor’s technology, further slowing down the Finland industrial process automation market expansion.
Industry 4.0 Technologies Paving the Way for Future Automation Opportunities
The progress in industry 4.0 technologies, including the internet of things (IoT), cloud computing, and artificial intelligence (AI), is generating considerable opportunities for the Finland industrial process automation market trends.
These advancements enable companies to gather and analyze vast amounts of data in real time, offering critical insights into their operations and identifying areas for improvement. As technology continues to advance, industry participants are partnering with tech-focused firms to create new solutions based on established technologies.
Competitive Landscape
Several players operating in Finland industrial process automation industry include Siemens AG, Honeywell International, Schneider Electric, Mitsubishi Electric, Rockwell Automation, Emerson Electric Co., ABB Ltd., Omron Corp., Fanuc Corp., Toshiba Corp., and others.
Finland Industrial Process Automation Market Key Segments
By Component
-
Manufacturing Execution Systems
-
Hardware
-
Software
-
Services
-
-
Distributed Control Systems
-
Hardware
-
Software
-
Services
-
-
Programmable Logic Control
-
Hardware
-
Software
-
Services
-
-
Supervisory Control and Data Acquisition (SCADA)
-
Hardware
-
Software
-
Services
-
-
Field Instruments
-
Industrial Robots
-
Process Analyzers & Drives
By End-User
-
Oil & Gas
-
Chemical & Refining
-
Energy & Power
-
Pulp & Paper
-
Metals & Mining
-
Pharmaceutical
-
Cement & Glass
-
Others
Key Players
-
Siemens AG
-
Honeywell International
-
Schneider Electric
-
Mitsubishi Electric
-
Rockwell Automation
-
Emerson Electric Co.
-
ABB Ltd.
-
Omron Corp.
-
Fanuc Corp.
-
Toshiba Corp.
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 156.5 Million |
|
Revenue Forecast in 2030 |
USD 227.9 Million |
|
Growth Rate |
CAGR of 5.0% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
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. |
At Next Move Strategy Consulting, we understand that insightful market research is the cornerstone of successful business decisions. That's why we employ a robust and multifaceted approach, combining various methodologies to deliver the most accurate and actionable data for our clients.
Research Landscape
We navigate the world of research with two primary approaches:
Qualitative Approach
Our qualitative research methodologies involve immersive techniques such as in-depth interviews, focus groups, and observational studies. By engaging directly with individuals and stakeholders, we uncover valuable insights that quantitative data alone may overlook.
Quantitative Research
In tandem with qualitative methodologies, NMSC leverages the power of Quantitative Research to provide a robust foundation of numerical insights. Through systematic data collection and analysis, we quantify patterns, preferences, and market trends, offering a comprehensive view of the business landscape.
Our quantitative research approach employs diverse tools, including surveys, experiments, and statistical modelling. These methodologies enable us to gather data from a large and representative sample, ensuring the statistical significance of our findings. By employing structured questionnaires and standardized data collection methods, we guarantee the reliability and validity of the information we present to our clients.
Quantitative research is particularly effective in measuring the prevalence of trends, assessing market size, and gauging the impact of various factors on consumer behavior. The numerical precision attained through this approach equips our clients with actionable insights, facilitating data-driven decision-making and strategy formulation.
Our Specialized Toolbox for Industry-Specific Market Research
We deploy a specialized arsenal of techniques tailored to meet your unique requirements. Here's a glimpse into our comprehensive toolbox:
Information Procurement
The stage entails acquiring market data or relevant information through various sources and methodologies.
Market Research Approach
We utilize both top-down and bottom-up approaches in market research analysis to achieve a comprehensive understanding of the market dynamics, leveraging the broad perspective of industry trends and macroeconomic factors alongside detailed insights from specific segments and individual companies.
Porters Five Forces Analysis
We conduct Porter's Five Forces analysis to evaluate the competitive landscape of an industry, providing us with insights into factors that affect profitability and strategic positioning.
SWOT Analysis
We conduct SWOT analysis to understand market trends, identify potential threats, capitalize on opportunities, and assess our strengths and weaknesses.
Forecasting
We utilize a forecasting model to predict future consumption by considering parameters like population, economics, regulations, market competition, drivers, constraints, technology, and pricing. We also employ statistical techniques such as multilinear regression, exponential smoothing, moving average, ARIMA, and Monte Carlo simulations for accurate predictions. In econometric forecasting, we analyzed short-term and long-term event impacts, attributing values based on regulatory frameworks, economic factors, and market events.
Frequently Asked Questions
Download Free Sample
Speak to Our Analyst
Related Report
Related Blogs
Analysis of Top 10 Leaders Shaping the Future of Industrial Process Automation
Next Move Strategy Consulting Forecasts strong growth in the...
Emerging Technologies and Latest Developments in Industrial Process Automation
Introduction Industrial process automation has been an in...
