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World Advanced Process Control Process Optimization and Simulation Markets
Frost & Sullivan, Oct 2006, Pages: 125
This Frost & Sullivan research service titled World Advanced Process Control Process Optimization and Simulation Markets provides an overview of the revenue forecasts for the advanced process control (APC), real-time optimization (RTO), and simulation markets across various geographies. It also offers comprehensive analysis of various market drivers, industry challenges, and trends. In this study, Frost & Sullivan's expert analysts thoroughly examine the following technologies: APC, RTO, and simulations.
Market Overview
Pressure on Industries to Improve Manufacturing Processes Bodes Well for Advanced Process Control, Process Optimization, and Simulation Markets
Dwindling resources and greater consumer demand have forced industries such as refineries, petrochemicals, and cement to enhance their manufacturing process constantly. Increasing complexity in the manufacturing processes across diverse verticals, along with huge investments in asset procurement by enterprises, is significantly improving the sales of advanced process control (APC), real-time optimization (RTO), and simulation solutions. The rate of adoption of these solutions has been largely consistent in oil and gas, refining, and petrochemicals.
The considerable demand notwithstanding, solution providers need to tackle issues related to customer relationships and return on investments effectively. Customers are seeking solutions that can help them achieve greater value from their manufacturing assets throughout the lifecycle of their equipment. With process variables changing constantly and adding up to a large number, customers are demanding devices that are robust and can complement each other for the consistent overall optimization of the process.
Change in End-user Perception Vital for the Uptake of APC, Optimization, and Simulation Systems
Popular perception of APC as being expensive and more suited to large-scale applications used in huge plants such as oil refineries and petrochemical units is significantly slowing market growth. End users feel apprehensive about not only the significant installation charges but also the cost of maintenance. 'The vendors of advanced process solutions are hoping to overcome the cost barrier by incorporating more customized solutions for every end-user industry,' says the analyst of this study.' While the range of applications for APC units in traditional areas such as refineries and chemicals is immense, the scope of these solutions is growing in new areas including pulp and paper and pharmaceuticals.'
End users have to be educated about the large-scale benefits of using APC, optimization, and simulation systems, especially since manufacturing facilities in many key industries are still governed by unsophisticated control systems and allied technologies. They should be made aware that the advanced solutions will enable them to deal better with competition and cost pressures. 'The use of sophisticated process solutions aid in improving their throughput by optimizing the productivity under changing process conditions; thereby saving costs,' notes the analyst. While the chemicals and oil and gas verticals are already being served by APC, optimization, and simulation systems, market participants are working on extending their reach to non-conventional end users too by offering innovative solutions.
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