Industry insight Process automation is now trending
A quickly changing market is one of the biggest challenges companies are facing today. In order to adapt to new conditions, big players and smaller enterprises use the concept “process automation” that allows for numerous advantages.
The global process automation market is poised to grow at a Compound Annual Growth Rate (CAGR) of around 9.1% over the next decade to reach approximately $210.84 billion by 2025, according to a research report. Process automation makes use of computer technology and software engineering to help numerous industries operate more efficiently and safely. In the manufacturing industry, the concept “process automation” is known to ease the workflow process. Be it compiling and processing all the vital data or making use of a system that detects errors in the production process and the cause of errors, all of this comes under the blanket of process automation.
Today, manufacturing companies are making use of this concept to streamline their operations, boost productivity and adapt quickly to the changing market. There is a growing demand to adopt solutions for digital workflows on the shop floor. Process automation is the next phase in industrial modernisation where employees can monitor and resolve machine faults and maintenance by just viewing their phones. It also helps to reduce costs by changing traditional manual processes with new, improved and accurate solutions. It defines a consistent workflow process and eliminates redundancy and at the same time, improves accountability and enforces business rules and standards.
Manufacturing and process automation examples
As an example, DMG Mori recently introduced an extensive portfolio for data-based digitisation modules for production planning and tool management, among other applications. The solutions are expected to connect and also lead small and medium-sized enterprises (SMEs) in particular into the future of the digitised industry. In addition, it shortens decision-making processes and makes it possible to perform even unfamiliar tasks faster and more flexibly in production operations, Fraunhofer IPT and Mitsubishi Electric have come together and developed a new system that compiles and processes all the key information for machine operators on mobile devices. Hermle has also launched a robot system that can be adapted to supply three machining centres with workpiece blanks or pallets. This system will further boost the machine running times in fields of medical technology, precision mechanics and electrode manufacturing.
Analysis of the process automation market
According to a report by Industry ARC, a research and consulting company, the region of Americas dominates the market revenue of the process automation market followed by Europe, Asian-Pacific (APAC) and the rest of the world (RoW). The industry is slowly but steadily moving towards the Industry 4.0 concept and every effort should be made for the growth of related segments such as process automation so that it contributes to the future of manufacturing and establishes new avenues for growth!
This article first appeared on www.maschinenmarkt.international.