Automation market growth driven by software and service

The worldwide market for automation products and services for process industries, worth over $44 billion last year, is expected to grow at about 5 percent over the next five years, according to a new ARC Advisory Group study.

The food & beverage industry continues to one area of healthy growth, according to ARC Research Director Larry O’Brien, principal author of ARC’s “Total Automation Business for Process Industries Worldwide Outlook, Market Analysis & Forecast Through 2006.”

Growth in the process automation market will be driven by software and services. Traditional hardware-based markets, such as PLCs, valves, analytical, flow, and transmitters, will all experience below average growth through 2006.

Additional information on this study can be found at: http://www.arcweb.com/arcweb/Advisory/Studies/Auto/auto_process.asp