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
Details of Report@
https://www.grandviewresearch.com/industry-analysis/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.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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