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Sep 27, 2016

September 27, 2016 09:37 ET | Source: Research and Markets Dublin, Sept. 27, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Actuator Sensor Interface Systems Market 2016-2020" report to their offering. The global actuator sensor interface (AS-i) systems market to grow at a CAGR of 8.54% during the period 2016-2020. Global Actuator Sensor Interface (AS-i) Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global actuator sensor interface (AS-i) systems market for 2016-2020. To calculate the market size, the report considers the sales of the AS-i devices in the automation industry. Rise in automation in process industries will be a key trend for market growth. The process industries such as food and beverage, oil and gas, paper, and pharmaceutical employ manufacturing process that converts raw materials into finished goods. Therefore, these industries require a high degree of automation to carry out manufacturing operations. Therefore, manufacturers in the process industries are investing a significant amount of money in technologies to automate their complex manufacturing processes. According to the report, emergence of new and innovative Fieldbus solutions will be a key driver for market growth. The digitization of the process signals and the associated decentralization are paving the way for the wider adoption of open Fieldbus system. Also, the development of open Fieldbus in power plants has revolutionized the structure of control systems. Open Fieldbus technology enables shifting central functions into field devices and leads to decentralized structures in the automation systems. Further, the report states that the fluctuation in oil prices has adversely affected the demand for lower-level networking in the oil and gas industry. Members of Organization of the Petroleum Exporting Countries (OPEC) such as Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, and Venezuela control more than 40% of world's oil supply. The demand for oil had reduced especially from Europe and China. The fluctuations in oil prices decreased the CAPEX of the oil companies in 2015. For instance, Shell had to cut spending by $15 billion and Chevron had announced a cut of $5 billion in 2015. Such budget cuts are likely to pose a huge challenge for the AS-i systems market because the oil and gas companies are expected to reduce the capital spending on new installations of AS-i network in the plants due to fluctuations in oil prices. Key vendors