Field Device Management Market Size To Reach $1.97 Billion By 2025, Based On Latest Trends of Digitalization & IoT | Million Insights

FELTON, Calif., Jan. 25, 2021 /PRNewswire/ -- The global field device management market size is estimated to reach USD 1.97 billion, by 2025 and is projected to grow at the CAGR of 6.8% over the forecast period, from 2019 to 2025, according to a new report by Million Insights. Field device solutions allow the consumer to access remotely to maintain diagnose, configure and commission filed devices. Centralized access helps to monitor real-time data of equipment. Due to these benefits filed device management solutions have great demand from smart factories and industry 4.0. In addition, the growing trend of digitalization and IoT is projected to foster market growth.

These solutions help in enhancing product lifecycle management and along with rising industry 4.0 awareness, the market is expected to bolster the growth of filed devices solutions. Moreover, it also offers wireless expense solutions which help in lowering the maintenance & operational cost. Additionally, smart factories and industrial automation is increasing demand for FDM solutions. Centralized monitoring & control helps to manage warehouse or inventories in an efficient way. These key factors are projected to support market growth.

FDM provides mobility solutions through the deployment of applications and mobile equipment from remote access. Thus, it helps to optimize the organization's productivity. Automation in the industry includes automated invoicing, installation of CNC machines and other tasks. Moreover, the key players are investing in developing Industrial IoT solutions. In addition, growing number of companies focus on reducing maintenance & operational cost, which is anticipated to create huge opportunities for market growth.

Please click here to get the sample pdf and find more details on "Field Device Management Market" Report 2025.

Major players in the field device management (FDM) market include Siemens; ABB; Rockwell Automation Inc.; OMRON Corporation; Yokogawa; Mitsubishi Electric; Metso Corporation; FANUC Corporation; Schneider Electric; Valmet; Azbil Corporation; PHOENIX CONTACT; and Hamilton Company.

Further key findings from the report suggest:

• Growing trend of smart factories and industry 4.0 is projected to positively impact on market growth in the coming few years.
• Reduced maintenance cost, enhanced product lifecycle management are expected to increase the need for FDM solutions. These solutions are helpful in diagnosing & configuration applications.
• Companies in the market focus on developing advanced FDM solutions for high productivity and predictive maintenance.
• Key companies in the market involve in acquisitions & partnership activities to remain competent in the market.

Browse 100 page research report with TOC on "Global Field Device Management Market" at: https://www.millioninsights.com/industry-reports/global-field-device-management-market

Million Insights 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 & 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 & Africa

Explore more research reports on Technology Sector by Million Insights:

• Drone-Powered Business Solutions Market - The global drone-powered business solutions market size was accounted for USD 692.6 million, in 2015. Factors such as advancements of the drone technology and growing application in various end-use industries such as infrastructure, surveillance, agriculture, and media are projected to bode well for the market growth.
• Human Resource Management Market- The global human resource management market size was accounted for USD 16.01 billion, in 2019. It is projected to ascend with a CAGR of 11.7% over the estimated duration. Factors such as expansion in IT and the launch of predictive analytics in HR are projected to fuel market growth.
• IoT in Warehouse Management Market - The global internet of things in warehouse management market size was accounted for USD 2.27 billion, in 2015.Factors such as increasing preference for connected devices, growing need for data sharing, optimizing floor level activities, and the competency of warehouse equipment are projected to fuel the market growth over the forecast period.
• Operator Training Simulator Market - The global operator training simulator market size was accounted for USD 6,011.5 million, in 2018. It is projected to ascend with a CAGR of 11.6% over the estimated duration. Factors such as increasing demand for effective process operators, corporate undertakings for safety at the workplace especially for workers working in hazardous jobs, rising automation, and growing preference for cloud platforms are predicted to fuel the product demand over the projected period.

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected] 
Web: https://www.millioninsights.com/ 
Follow Us: LinkedIn | Twitter

SOURCE Million Insights

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED