The Europe Field Device Management (FDM) Market would witness market growth of 6.6% CAGR during the forecast period (2019-2025).
The FDM solutions are now being adopted extensively for the production of smart factories and other applications based on the industrial internet of things (IIoT), which provides enormous scope for this market's growth. IIoT provides manufacturers with efficient and high-speed systems at reduced prices, which positively affects the market for these solutions/services as it involves the implementation of such advanced automation systems. Automation companies concentrate on investments in the production of IIoT technologies to incorporate Industry 4.0 and support full automation in their industries. The growth in IIoT applications thus generates the enormous need for field device management solutions.
There has been a significant increase in investment amongst different industries in smart devices, which has an impact on the need for FDM systems. In order to address bulk productions, smarter machines have been launched to boost work flexibility and minimize manual tasks and process complexity. Therefore, FDM systems help to reduce manual tasks and remote configuration of smart devices and tools, along with complementing the increasing digitalization and use of smart devices in manufacturing as well as other automation processes.
Based on Industry, the market is segmented into Process Industries and Discrete Industry. Process industries segment is further segmented into Energy & Utilities, Oil & Gas, Metals & Mining, Chemicals & Pharmaceuticals, Food & Beverages and Others. Discrete Industry is further bifurcated into Automotive, Manufacturing and Aerospace & Defense. Based on Offering, the market is segmented into Software and Hardware. Based on Deployment Type, the market is segmented into On Premise and Cloud. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Field Device Management Market in Europe is expected to register a CAGR of 6.6% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Yokogawa Electric Corporation, Siemens AG, Emerson Electric Co., Honeywell International, Inc., ABB Group, Schneider Electric SE, Rockwell Automation, Inc., Omron Corporation, Mitsubishi Electric Corporation and Azbil Corporation.
Market Segmentation:
By Industry
By Offering
By Deployment Type
By Country
Companies Profiled
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