Quick Summary:
In a rapidly evolving industrial landscape, incorporating advanced process control (APC) has become critical for companies aiming for optimum operational efficiency. APC offers numerous benefits, including maximizing production capacity, enhancing equipment reliability, automating data collection, and monitoring process parameters, all while ensuring minimal energy consumption. These advantages have pushed various industries such as petrochemicals, chemicals, pharmaceuticals, oil and gas, food and beverages, and paper and pulp to widely adopt these technologies.
Notably, the market trends illustrate that APC not only reduces human intervention in production processes, thereby enhancing safety, but it also significantly helps in cutting operational costs and capital expenditure. It even helps companies meet government policies on industry emissions, thereby minimizing environmental impact. Technological advancements and the integration of process analytical technology (PAT) have further fortified APC's importance, allowing workers to perform tasks with precision. Moreover, the ability of APC to allow instant modifications in production operations is a significant growth driver for the market. Additionally, strategic collaborations among key players and increasing investments in research and development for more energy-efficient control systems point towards a positive market outlook.
The report offers comprehensive analysis of the APC market, including insights into key market segmentation. It details the roles of different components like software and service in various end-use industries. The report also provides geographic insights, identifying promising regions for the APC market. Finally, it profiles key players in the industry, giving a complete picture of the competitive landscape. This report is an invaluable resource for anyone looking to understand the APC market and its future trajectory.
Advanced process control (APC) refers to a set of sophisticated technologies and model-based software that is implemented in various industries for maximizing operational efficiency. It includes digital control units and online sensors, which aids in enhancing production capacity and equipment reliability, automating data collection, and monitoring process parameters while consuming minimal energy. This, in turn, assists enterprises in optimizing manufacturing operations, solving multivariable control problems, reducing disruption, catering process control system requirements, and improving productivity. At present, APC is commercially available in varying types, such as advanced regulatory control (ARC), multivariable model predictive control (MPC), and nonlinear MPC.
Advanced Process Control Market Trends:
The widespread adoption of advanced process control across the petrochemicals, chemical, pharmaceuticals, oil and gas, food and beverage (F&B), and paper and pulp industries can be attributed to the increasing need for efficient automation solutions. Advanced process control eliminates the involvement of humans in production processes, thereby reducing the risks of accidents and enhancing safety. Additionally, rising concerns regarding industry-generated emissions, especially from oil and gas, have prompted governments of various countries to introduce policies that promote the use of advanced process control. This, in turn, helps in minimizing the operational costs, capital expenditure, and negative environmental impact, which is further propelling the market growth. In line with this, significant technological advancements and the integration of process analytical technology (PAT) for equipping workers with offline and online model building, verification, and data analysis tools to enable the precise performance of industry-related tasks are acting as other growth-inducing factors. Moreover, the extensive utilization of APC for allowing instant modification in the production operations is contributing to the market growth. Other factors, such as strategic collaborations amongst the key players and the rising investments in the research and development (R&D) activities for introducing energy-efficient process controlling systems, are creating a positive outlook for the market.Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global advanced process control market report, along with forecasts at the global, regional and country level from 2023-2028 Our report has categorized the market based on component and end use industry.Breakup by Component:
- Software
- Service
Breakup by End Use Industry:
- Oil and Gas
- Petrochemical
- Pharmaceutical
- Food and Beverage
- Energy and Power
- Chemical
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Aspen Technology Inc., Azbil Corporation, Emerson Electric Co., FLSmidth & Co. A/S, General Electric Company, Honeywell International Inc., Onto Innovation, Panasonic Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Yokogawa Electric Corporation.Key Questions Answered in This Report
1. How big is the global advanced process control market?2. What is the expected growth rate of the global advanced process control market during 2023-2028?
3. What are the key factors driving the global advanced process control market?
4. What has been the impact of COVID-19 on the global advanced process control market?
5. What is the breakup of the global advanced process control market based on the component?
6. What is the breakup of the global advanced process control market based on the end use industry?
7. What are the key regions in the global advanced process control market?
8. Who are the key players/companies in the global advanced process control market?
What is the estimated value of the Global Advanced Process Control Market?
What is the growth rate of the Global Advanced Process Control Market?
What is the forecasted size of the Global Advanced Process Control Market?
Who are the key companies in the Global Advanced Process Control Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1.6 Billion |
| Forecasted Market Value ( USD | $ 2.5 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
Companies Mentioned
- ABB Ltd.
- Aspen Technology Inc.
- Azbil Corporation
- Emerson Electric Co. FLSmidth & Co. A/S
- General Electric Company
- Honeywell International Inc.
- Onto Innovation
- Panasonic Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corporation.
Methodology
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