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Frequent Product Updates Required to Stay Ahead of Customer Demand in the ANZ Fieldbus Market, Finds Frost & Sullivan
Users are realizing the importance of customized fieldbus systems and hence, consider factors beyond cost and maintenance
By: PR Newswire
Jan. 6, 2013 10:15 PM
SYDNEY, Jan. 6, 2013/PRNewswire/ -- Customization is becoming the norm in the Australia and New Zealand fieldbus market as companies in the industrial communication domain are providing flexibility like never before. Fieldbus vendors are constantly introducing newer versions, as process industries attempt to reduce plant downtime through real-time knowledge sharing and high-speed communication protocol.
New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Fieldbus Market in Australia and New Zealand , finds that the market earned revenues of US$72.6 million in 2011 and estimates this to reach US$128.6 million in 2017.
End users in the process industries tend to frequently change their requirements, compelling fieldbus vendors to offer complete customization. Some market majors are offering a 'build-it-yourself' option but these systems are expensive to install and maintain.
"Nevertheless, Australia will witness increased adoption of such systems for application in improved infrastructure, resources, and a large base that warrants fieldbus installations on a large scale ," saidFrost & Sullivan Research Analyst Krishnan Ramanathan. "The large number of multinationals operating out of the country will also increase the use of fieldbus systems in Australia."
Sensing opportunities, fieldbus vendors have forged partnerships with local companies. Further, companies have collaborated with organizations and educational institutions to promote the understanding of fieldbus technology, as awareness of such technologies can significantly increase market growth.
"Although more and more industries are likely to implement fieldbus systems, the conventional ones will dominate the industry in terms of application," noted Ramanathan . "Mining, chemicals, automotive and food and beverage processing will be the major users of fieldbus systems in Australia."
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at email@example.com , with your full name, company name, title, telephone number, company email address, company Web site, city, state and country.
Fieldbus Market in Australia and New Zealand is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Fieldbus Market in Southeast Asia, Southeast Asia and ANZ PD Pumps market and Analysis of Welding Equipment and Consumables markets. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
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Fieldbus Market in Australia and New Zealand
SOURCE Frost & Sullivan
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