Global Field Device Management Market is valued at approximately USD 965.2 million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.07% over the forecast period 2022-2028. FDM is a centralized asset management system that is primarily opted for maintenance and remote configuration of smart field devices, which are based on FOUNDATION Fieldbus & HART, PROFIBUS, PROFINET, Modbus TCP/IP, and many other protocols. This helps in remotely configuring, maintaining, commissioning, and diagnosing field devices with a safe and user-friendly centralized access and removes the need for numerous software tools. Factors such as flourishing development in industry 4.0 and Smart Factory, increasing investment by automation companies s for the development of IIoT solutions, and rising significance of cloud computing technology in FDM solutions are driving the global market demand. According to the International Data Corporation (IDC), in 2019, Asia-Pacific was leading the IoT spending with around 35.7%, followed by the United States of America with 27.3%. Also, it is projected that IoT spending in Asia-Pacific is expected to reach nearly USD 398.6 billion by 2023. Therefore, the rising investment in IoT is leading to the development of the industry 4.0 and Smart Factory, which is accelerating the growth of the Field Device Management Market across the globe. However, the growing need for maintaining data privacy and cybersecurity impedes the growth of the market over the forecast period of 2022-2028. Also, rising demand for FDM among various end-use applications and favorable growth activities by market players are anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Field Device Management Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of smart factory, and cohesive government initiatives and policies in the field of industrial technological development. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growth of mining industry, as well as increasing oil & gas production and related projects, would create lucrative growth prospects for the Field Device Management market across the Asia-Pacific region.

Major market players included in this report are:

Honeywell

OMRON

Siemens

Mitsubishi Electric

Rockwell Automation

Emerson

Omega Engineering

Hamilton Company

Schneider Electric

Hach

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:

Hardware

Software

By Protocols:

FOUNDATION Fieldbus and HART

PROFIBUS

PROFINET

Modbus TCP/IP

EtherNet/IP

Others

By Industry:

Process

Discrete

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Field Device Management Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors