Fieldbus Solutions Market For Process Industry in US Size to Grow by $ 126.27 Million through 2021-2025
Technavio research projects the fieldbus solutions market for process industry in US to grow by $ 126.27 mn, accelerating at a CAGR of 5% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Fieldbus Solutions Market For Process Industry in US: Key Market Driver
One of the primary factors that will trigger the growth of the fieldbus solutions market for process industry in US is the benefits attained by end-users. This fieldbus solutions market for process industry in US is segmented by end-user (oil and gas industry, chemical and petrochemical industry, power industry, metal and mining industry, and others), protocol (PROFIBUS, modbus, DeviceNet, AS-i, and SERCOS), and solution (hardware, software, and services). The oil and gas industry segment will record a significant growth rate during 2021-2025 and will offer several growth opportunities to market vendors.
This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Fieldbus Solutions Market For Process Industry in US: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Belden Inc., Eaton Corporation Plc, Emerson Electric Co., Endress+Hauser Group Services AG, Flowserve Corp., Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, and Siemens AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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