PAM and Wireless to Drive Market Growth
Propelled by a booming automation market and robust capital expenditures, the temperature transmitter market has seen strong growth in recent years. Going forward, the market will continue to grow at higher than average rates, thanks to the continued emphasis on Plant Asset Management (PAM) and smart instrumentation and an expected upswing in the adoption of wireless transmitters. Much of the installed base of field devices needs to be upgraded to leverage PAM applications, representing a huge opportunity for suppliers. In the past, because of the relatively small size of the temperature market, few diversified suppliers have invested in their temperature transmitter product lines opting to focus limited resources into more lucrative lines of business. Today, however, suppliers have begun to invest in their temperature product lines again, given their importance to PAM initiatives, which customers are embracing, along with the greater acceptance of wireless technology.
One obstacle to growth is that users do not fully utilize the diagnostic capabilities of intelligent devices. Suppliers are in a position to help users integrate smart field instruments, but it may take a shift from a hardware-centric mindset to a more service-oriented focus.
Strategic Issues
This study is intended to assist suppliers and purchasers in staying abreast of temperature transmitter technology advancements and explores in-depth the key issues that will impact this business in the near future. These issues include:
- Short and long-term potential for the temperature transmitter business
- Impact of new technologies on the temperature transmitter market
- Outlook for temperature transmitters by industry
- Impact of plant asset management on the temperature transmitter market
- Key elements for success in the temperature transmitter business
