LONDON--(BUSINESS WIRE)--Apr 27, 2018--Global procurement intelligence advisory firm, , has announced the release of their ‘ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the . This report breaks down the data and analysis behind the procurement of automation and instrumentation and acts as an all-inclusive guide for making smart purchasing decisions.
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Automation and Instrumentation Procurement Report (Graphic: Business Wire)
“The growing demand for the incorporation of automation and instrumentation in production and manufacturing sites to enhance productivity and reduce production costs will drive the growth of the market,” says SpendEdge procurement analyst Tridib Bora. “Also, end-user industries such as oil and gas, metals and mining, pharmaceutical, and paper and pulp will leverage the use of automation and instrumentation,” added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Automation and Instrumentation Market:Implementation of Industry 4.0 in manufacturing activity Substantial rise in M2M interaction Increasing integration of automation system with cloud services
Implementation of Industry 4.0 in manufacturing activity
Also referred to as the fourth industrial revolution, the Industry 4.0 is a recent trend in automation and data exchange. It comprises systems such as cyber-physical systems, IoT, cloud computing, and cognitive computing.
Substantial rise in M2M interaction
In recent years, there has been a gradual increase in the M2M interaction. Wireless devices with embedded sensors and RFID are considered as the important components of M2M systems. It also helps the buyers reduce their lead times.
Increasing integration of automation system with cloud services
In the automation and instrumentation market, the suppliers are integrating automation systems with cloud services by configuring multiple application programs to enable the sharing of data in the cloud. This helps the buyers implement business process initiatives by automating business transactions.
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