Global Field Device Management Market is valued at approximately USD 1.39 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2022-2028. Field Device Management (FDM) acts as a configuration and maintaining tool for the smart field devices for troubleshooting and analytical applications. This solution facilitates remote access to smart devices and presents field data of the machines for analytical maintenance. It serves a large number of devices by linking FDM customers to diverse distributed FDM servers. Additionally, it provides complete control over all machinery and saves time by lessening the number of fields trips.
The growing significance and investment in the industry 4.0 and Smart Factory, coupled with the rising inclinations for cut-downing the operational and maintenance cost of machinery is propelling the demand for the market globally. For instance, in China, the IIoT market increased by 25% per year and is projected to reach approximately 300 billion yuan ($47 billion) in 2018, as per China’s Ministry of Industry and Information Technology. However, a shortage of proficient employees impedes the growth of the market over the forecast period of 2022-2028. Also, the initiatives by the FDM providers and collaborations for the product development & modification are anticipated to act as catalyzing factors for the market demand during the forecast period.
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The key regions considered for the Global Field Device Management Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing automation majorly in the industries such as energy & power, manufacturing and automotive, as well as the rising need for FDM solutions for constant monitoring of procedures and field devices chiefly among these industries. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing investments for the development of FDM solutions, along with the emergence of big data and industry 4.0 would create lucrative growth prospects for the Field Device Management market across the Asia-Pacific region.
Major market players included in this report are:
Honeywell
OMRON
Siemens
Mitsubishi Electric
Rockwell Automation
Emerson
Omega Engineering
Hamilton Company
Schneider Electric
Hach
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
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Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Hardware
Software
By Protocols:
FOUNDATION Fieldbus and HART
PROFIBUS
PROFINET
Modbus TCP/IP
EtherNet/IP
Others (ISA 100.11A and BRAIN)
By Industry:
Process
Oil & Gas
Chemicals
Power & Energy
Food & Beverages
Pharmaceuticals
Metals & Mining
Others
Discrete
Automotive
Manufacturing
Aerospace & Defence
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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