The global automation market in chemicals and petrochemicals industry for 2016-2020 is estimated to grow at a CAGR of over 7% and exceed US$7 billion, according to a report by Technavio. The market is expected to register positive growth during the forecast period due to capital and R&D investments in developing and implementing automation solutions. According to Bharath Kanniappan, a lead research analyst at Technavio for automation, “Organizations are deploying automation solutions to enhance productivity. Automation solutions, such as distributed control systems, programmable logic controllers, manufacturing execution systems, and supervisory control and data acquisition systems, enable fast and highly responsive actions and prevent plant operational failures.”
The report has identified the following three factors that will drive the global automation market in chemicals and petrochemicals industry through 2020:
• Rise in investments and business expansions
16-Mar-16 
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