Field Device Management Market Size- KBV Research

The Global Field Device Management Market size is expected to reach $2 billion by 2025, rising at a market growth of 7.3% CAGR during the forecast period. 

The field management devices allows the user to remotely configure, commission, maintain and diagnose field devices with a safe and user-friendly centralized access. This helps to provide all of the related equipment's data and status in real time and removes the need for numerous software tools. It is highly demanded in the development of industry 4.0 and smart factories due to its centralized procurement of equipment with enhanced security. With the advent of IoT and digitalization, Industry 4.0's progress has been significantly enhanced, directly driving market growth.

The major factor driving the growth of this FDM market is the notable change from conventional technology to automated and smart technologies. The digitalization introduced on the entire product lifecycle helps companies to develop products faster and to introduce devices that are enabled by smart technology. Increasing penetration of smart factory and deployment of Industry 4.0 and IoT in several verticals has opened up a tremendous opportunity for the FDM industry, as automotive and manufacturing industries need FDM solutions because of mass production. In order to reduce operating and maintenance costs, mass production contributes to the need for field device management systems.

Full Report:

The Wall

No comments
You need to sign in to comment