Singapore 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: 04-Dec-2024 | No of Pages: 123 | No. of Tables: 89 | No. of Figures: 54 | Format: PDF | Report Code : SE1001
Singapore Industrial Process Automation Market Overview
Singapore Industrial Process Automation Market size was valued at USD 385.1 million in 2023, and is predicted to reach USD 681.0 million by 2030, at a CAGR of 7.9% from 2024 to 2030.
The industrial process automation market encompasses the industry that delivers technologies and systems aimed at monitoring, controlling, and optimizing industrial operations. It integrates advanced computer technologies, hardware, and software to automate essential processes such as inventory management, manufacturing, production, and quality control.
Key technologies driving this market include sensors, programmable logic controllers (PLCs), human-machine interfaces (HMIs), and supervisory control and data acquisition (SCADA) systems.
This market caters to industries such as oil and gas, chemical processing, food and beverage, and pharmaceuticals, where automation plays a critical role in enhancing efficiency, product quality, and workplace safety. By reducing costs and minimizing human errors, industrial process automation allows companies to streamline production, resulting in higher output with greater accuracy. As businesses increasingly seek to boost productivity and stay competitive in a rapidly automating global manufacturing landscape, the demand for industrial process automation solutions continues to rise.
Chemical Industry Expansion is Driving the Growth of the Market
The Singapore industrial process automation market growth is being driven by the booming chemical industry, that heavily depends on automation solutions such as Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), and Manufacturing Execution Systems (MES).
These technologies enable the chemical sector to enhance production efficiency, accuracy, and safety in real-time. As the industry continues to grow, the demand for these automation solutions is anticipated to rise, further accelerating the growth of the industrial process automation market.
Pharmaceutical Industry Boosting Automation Market Growth
The pharmaceutical industry in Singapore significantly impacts the country's industrial process automation market through the adoption of advanced technologies such as SCADA systems. SCADA systems are extensively used in pharmaceutical manufacturing to provide real-time monitoring and control of equipment and processes, along with data collection and analysis to optimize performance and ensure regulatory compliance. This use of automation has led to enhanced efficiency, productivity, quality, and safety of pharmaceutical products, further driving the growth of the industrial process automation market in Singapore.
Lack of Standardization Hinders the Growth of Industrial Process Automation Market
The absence of standardization is a major challenge to the Singapore industrial process automation market expansion. Without established standards, vendors may create proprietary systems that are hard to replace or upgrade.
This situation can lead to vendor lock-in, where companies become dependent on a specific vendor's technology, limiting their flexibility and ability to switch vendors. As a result, higher costs, reduced flexibility, and decreased innovation can occur, hindering market growth. Concerns about being tied to a single vendor can make companies hesitant to invest in automation systems, further restricting market development.
Industry 4.0 Technologies Paving the Way for Future Automation Opportunities
The advancements in industry 4.0 technologies, such as the internet of things (IoT), cloud computing, and artificial intelligence (AI), are opening up significant opportunities for the industrial process automation market.
These technologies allow companies to gather and analyze large amounts of data in real-time, offering valuable insights into their operations and highlighting areas for improvement. As technology evolves quickly, market participants are partnering with tech-focused companies to create new solutions based on established technologies.
Competitive Landscape
Several key market players operating in Singapore industrial process automation industry include Siemens AG, Honeywell International, Rockwell Automation, ABB Ltd., Omron Corp, Fanuc Corp, Mitsubishi Electric, Schneider Electric, Okura Group, SixSense and others.
Singapore Industrial Process Automation Market Key Segments
By Component
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Manufacturing Execution Systems
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Hardware
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Software
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Services
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Distributed Control Systems
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Hardware
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Software
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Services
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Programmable Logic Control
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Hardware
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Software
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Services
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Supervisory Control and Data Acquisition (SCADA)
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Hardware
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Software
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Services
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Field Instruments
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Industrial Robots
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Process Analyzers & Drives
By End-User
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Oil & Gas
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Chemical & Refining
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Energy & Power
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Pulp & Paper
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Metals & Mining
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Pharmaceutical
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Cement & Glass
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Others
Key Players
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Siemens AG
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Honeywell International
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Rockwell Automation
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ABB Ltd.
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Omron Corp
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Fanuc Corp
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Mitsubishi Electric
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Schneider Electric
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Okura Group
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SixSense
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 385.1 Million |
Revenue Forecast in 2030 |
USD 681.0 Million |
Growth Rate |
CAGR of 7.9% 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. |
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