The global field device management market size is expected to
reach USD 1.97 billion by 2025, according to a new report by Grand View
Research, Inc. The market is anticipated to witness a CAGR of 6.8% from 2019 to
2025. Field device management allows the user to configure, commission,
maintain, and diagnose the field devices remotely with a secure and
user-friendly centralized access. It helps in providing all the information and
real-time status of the concerned equipment and eliminates the need for
multiple software tools. Due to its centralized equipment procurement with
improved security, it is highly demanded in the development of industry 4.0 and
smart factories. With the emergence of IoT and digitalization, the development
of industry 4.0 has been boosted significantly, which directly fuels the growth
of the market.
With the increasing awareness for industry
4.0, field device management has become an essential segment considerably since
it helps to improve the lifecycle management and multi-platform support. In
addition, it provides wireless expense management, which reduces operational
and maintenance costs. With the surge in industrial automation and smart
factories, FDM is being adopted rapidly in mobile equipment management
solutions. It provides centralized control and monitoring of the device fleet
in a warehouse environment or any distribution center, which is one of the
major factors influencing the market’s growth in the world of distributed
systems.
Since FDM lays the foundation for deployment
and management of mobile equipment and applications remotely, it provides
business mobility to the organizations to drive high productivity. The required
automation efficiency fuels the demand for FDM in automation tasks, which
include automated cost management and invoicing, installation of a large CNC
machine, among many other tasks. The increasing investments for IIoT solutions
development by automation companies have come up with an opportunity for the
market to grow effectively. The manufacturers’ focus shift towards reducing the
operational and maintenance costs along with providing highly effective mobile
device management solutions is driving the market’s growth directly.
Browse full research report on Field
Device Management Market:
https://www.grandviewresearch.com/industry-analysis/field-device-management-market
Further key
findings from the report suggest:
- Considerable surge in industry 4.0 and smart
factories development will create wide potential for manufacturers in the
market
- Improved lifecycle management of field devices
with significantly lower maintenance costs are the benefits boosting the
need for FDM. Prominent companies such as Schneider Electric are
significantly involved in providing the FDM solutions for configuring and
diagnosing the field devices for their entire lifecycle for several
applications, such as power generation, metals and mining, and hydrocarbon
processing
- Market players are focusing on providing
advanced FDM which provides advanced features, such as simplified
engineering with increased productivity, reduced downtime, and predictive
device maintenance
- Key market players are considering
partnerships and acquisition of startups providing innovative products to
expand their outreach in the market
- The key competitors in the market are ABB;
Emerson Electric Co.; Siemens; Honeywell International Inc.; Rockwell
Automation Inc.; Yokogawa; OMRON Corporation; Mitsubishi Electric
Corporation; FANUC Corporation; Metso Corporation; Valmet; Schneider
Electric; Azbil Corporation; Hamilton Company; and PHOENIX CONTACT.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/field-device-management-market/request/rs1
Grand
View Research has segmented the global field device management market based on
offering, deployment type, industry, and region:
Field Device
Management Offering Outlook (Revenue, USD Million, 2014 - 2025)
- Hardware
- Software
Field Device
Management Deployment Type Outlook (Revenue, USD Million, 2014 - 2025)
- Cloud
- On-Premises
Field Device
Management Industry Outlook (Revenue, USD Million, 2014 - 2025)
- Discrete Industries
- Automotive
- Manufacturing
- Aerospace and
Defense
- Process Industries
- Energy &
Utilities
- Metals & Mining
- Oil & Gas
- Food &
Beverages
- Chemicals
- Pharmaceuticals
- Others (Pulp &
Paper, Water & Wastewater, Life Sciences)
Field Device
Management Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East and
Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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