Global Fieldbus Market Size (2024 - 2030)

The Global Fieldbus Market  was valued at USD 12.01 billion and is projected to reach a market size of USD 19.54 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of  7.2%. 

The increasing adoption of automation solutions in various industries and the growing need for enhanced productivity and operational efficiency are the major factors driving the growth of the Fieldbus market. The emergence of Industry 4.0 and the Industrial Internet of Things (IIoT) has increased the demand for connected devices and intelligent systems, which has further boosted market growth. Moreover, the rising demand for real-time data monitoring and control, along with the increasing focus on energy-efficient operations, has created significant growth opportunities for the Fieldbus market. The Asia Pacific region is projected to witness significant growth in the Fieldbus market during the forecast period, owing to the growing adoption of automation technologies and the increasing industrialization in emerging economies such as China and India. North America and Europe are also projected to contribute significantly to the market growth, driven by the increasing investments in infrastructure development and the growing adoption of advanced technologies in the manufacturing sector.

Industry Overview:

Fieldbus technology refers to a communication rule that allows various devices to be interlinked in a single network. This technique is widely used in industrial automation applications for monitoring & controlling processes. It enables faster communication, data transfer, & improved diagnostics, leading to increased efficiency and fruitfulness in various industrial processes. The fieldbus market has been changing steadily over the years, driven by the increasing demand for automation in various industries such as oil and gas, chemicals, pharmaceuticals, and food & beverage. The market is also supplied by the maturation need for safety & reliability in industrial processes, along with the increasing adoption of Industry 4.0 and IoT technologies. The fieldbus market is projected to continue growing in the coming years due to advancements in communication technologies, increasing demand for energy-efficient solutions, and rising adoption of radio fieldbus solutions. However, the market is also facing some challenges such as high installation and repair costs, the need for skilled personnel, and a lack of conditions, which may hinder the market growth.

COVID-19 impact on the Fieldbus market:

The COVID-19 pandemic has had a mixed impact on the Fieldbus market. While the market has witnessed a lag in demand due to supply chain breaks and bounded availability of resources, it has also experienced an increase in demand from certain end-user industries. The pandemic has resulted in a shift towards remote work, which has increased the need for automation and control systems. This has created opportunities for the Fieldbus market, as it offers a range of solutions that can be used for remote monitoring and control. Additionally, the increasing focus on industrial automation, especially in the healthcare and pharmaceutical industries, has further contributed to the growth of the Fieldbus market. However, the market is also facing challenges due to the reduction in investments and delays in new projects, resulting in a slower pace of growth. The long-term impact of the pandemic on the Fieldbus market remains uncertain and will depend on the duration and severity of the crisis.

Market Drivers:

Increasing adoption of Industrial IoT (IIoT) is helping to drive market growth:

The increasing adoption of the Industrial Internet of Things (IIoT) is a major driver for the Fieldbus market. Fieldbus systems play an important role in industrial automation and control, permitting for real-time monitoring and control of various processes. The IIoT enables the integration of various technologies, such as sensors, actuators, and control systems, with the aim of improving the efficiency, safety, & productivity of industrial processes. Fieldbus technology provides a platform for the IIoT by enabling the connection of various field devices and sensors with control systems. With the increasing focus on IIoT, the demand for Fieldbus systems is estimated to grow significantly during the forecast period. The technology enables seamless connectivity, data exchange, and control, which are critical for achieving the goals of IIoT.

Rising demand for process automation and control is fuelling market growth:

The rising demand for process automation and control is another key driver for the Fieldbus market. Process automation and control systems are increasingly being used in industries such as oil and gas, chemical, and manufacturing to improve the efficiency, safety, and fruitfulness of their operations. Fieldbus technology enables the integration of versatile devices and systems in a plant, providing a seamless platform for monitoring and control of various processes. Fieldbus systems offer advantages over traditional hardwired systems, including greater flexibility, higher data transfer rates, & reduced cabling requirements.

Market Restraints:

The Fieldbus Market's growth is being stifled by the Complexity of Fieldbus Technology:

One of the major restraints in the Fieldbus market is the complexity of the technology. Fieldbus technology requires specialized knowledge and skills to install, configure, and maintain. The complexity of the technology makes it difficult for small and medium-sized enterprises to adopt Fieldbus technology, as they may lack the technical expertise required to operate the technology. Moreover, the maintenance of Fieldbus systems can be costly, as it requires specialized tools and equipment. This complexity of Fieldbus technology is hindering the growth of the market, especially in developing regions.

The Fieldbus Market's growth is being slowed down by the Compatibility Issues with Existing Systems:

Another restraint in the Fieldbus market is the compatibility issues with present systems. Many commercial enterprise already have legacy control systems in place that are not compatible with Fieldbus technology. This incompatibility creates a huge challenge for companies when advancing or growing their control systems, as they must consider the costs associated with replacing the existing systems. Additionally, Fieldbus technology may not be compatible with other systems used in the plant, such as sensors and controllers. These compatibility issues hinder the growth of the Fieldbus market, as companies may be reluctant to invest in a technology that requires significant changes to their existing infrastructure.

Market Segments:

FIELDBUS MARKET REPORT COVERAGE:

This research report on the global Fieldbus Market has been segmented based on Product type, Application, and Region.

Fieldbus Market - By Product Type

• Profibus

• Modbus

• CANbus

• HART

• Others

In 2022, the Profibus type segment threw the largest share of the Fieldbus market. This was primarily due to its wide range of applications in industries such as automotive, chemical, and pharmaceutical. Additionally, the rising demand for faster data transfer and increased productivity is also driving the adoption of Profibus type. This is a popular fieldbus protocol that is used in factory automation applications. It is designed for communication between industrial control devices and sensors. The wireless Fieldbus type segment is also projected to witness a high growth rate during the forecast period. This is primarily due to its ability to provide remote access and control, eliminating the need for physical cabling.

Fieldbus Market - By Application

• Factory Automation

• Process Automation

The Factory Automation segment includes industrial robots, assembly lines, material handling equipment, and other automation systems used in manufacturing plants. The Fieldbus technology is used in these systems to connect various devices, such as sensors, actuators, and controllers, and enable communication between them. The Process Automation segment includes application in industries such as oil & gas, chemicals, food & beverage, & pharmaceuticals, among others. Fieldbus technology is used in these industries to monitor and control various processes, such as temperature, pressure, flow, & level, among others. The technology assist in improving the efficiency and accuracy of the processes and enables real-time monitoring and control. The oil and gas industry is a major user of Fieldbus technology due to its ability to transmit data from remote locations. With the increasing demand for oil and gas, the adoption of Fieldbus technology is anticipated to increase, as it helps in improving the efficiency and reducing the downtime of operations. The adoption of advanced Fieldbus technologies like Foundation Fieldbus and Profibus PA is likely to be high in the oil and gas industry. The chemical industry is estimated to be one of the largest adopters of Fieldbus technology due to the need for process control and automation. The use of Fieldbus technology helps in improving the efficiency of chemical processes, reducing downtime, and improving product quality. Advanced Fieldbus technologies like HART and Foundation Fieldbus are widely used in the chemical industry for process control & monitoring.

Fieldbus Market-By Region

• North America

• Europe

• Asia-Pacific

• Rest of the World

North America is anticipated to hold the largest share of the Fieldbus market, owing to the presence of a large number of key players in this region, along with the growing demand for process automation solutions in industries such as oil and gas, chemicals, and power generation. Europe is also a significant market for Fieldbus, driven by the increasing adoption of advanced automation technologies and the focus on improving energy efficiency in the region. The Asia Pacific region is predicted to witness the highest growth in the Fieldbus market, driven by the gaining industrialization in countries such as China and India, along with the growing demand for automation solutions in industries such as automotive, food and beverage, & electronics.

Major Key Players in the Market:

1. ABB Ltd.

2. Emerson Electric Co.

3. Siemens AG

4. Honeywell International Inc.

5. Schneider Electric SE

6. Rockwell Automation Inc.

7. Mitsubishi Electric Corporation

8. Belden Inc.

9. Pepperl Fuchs GmbH

10. General Electric Company

Market Insights and Developments:

• In August 2021, Emerson Electric Co. introduced its new Zedi Cloud SCADA Solutions, a modern solution to support the collection, analysis, and presentation of critical field data. The solution uses the latest in wireless communication technology and smart sensors, which can reduce installation costs and provide higher levels of data accuracy and visibility.

• In March 2021, Siemens AG launched its new Field PG M6, which is a high-performance industrial notebook designed to be used with its Simatic PCS 7 control system. The device features the latest Intel Core i processors, large amounts of RAM and storage, and a rugged design that can withstand harsh industrial environments.