The development of the global APC market is the rising need for automation solutions across different industries. The process industry’s growing operations, advanced process control, and online device expansion are projected to push the market forward. The Asia Pacific region has grabbed the most significant market share in China & India dominate the advanced process controls market.
Newark, Feb. 24, 2023 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global advanced process control market is expected to grow from USD 1.96 billion in 2021 to USD 4.29 billion by 2030, at a CAGR of 9.10% during the forecast period 2022-2030.
Advanced process control systems also help quality improvement, allowing processing organizations to maintain their competitive advantage. Regardless, small-scale associations are expected to avoid using advanced process control due to a lack of qualified specialists and the demand for increased initial investments. The rising sophistication of manufacturing and processing systems is also expected to drive the market’s growth over the projection years. Advanced process control systems (APC) are installed to balance industrial operations and optimize factory execution by minimizing the chances of key process variables.
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Some benefits of advanced process control systems include improved monitoring of process parameters (pressure, temperature), enhanced process safety, decreased electricity use, and improved productivity. (APC) Advanced process control systems deliver predictive maintenance such as isolating, inspecting, and resolving problems without raising the load on the operating team and allow fast change of the production model as per the need in real-time, without the requirement to take the controller offline. Such advantages have made advanced process control systems necessary for various industries like oil and gas, chemical, and petrochemical. Organizations are creating significant investments in APC (Advanced process control) technology to lessen errors and incorporate more variables at a time for better control over processes, ensuring client satisfaction.
To enhance their market position in the global advanced process control market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In 2021 October Emerson and AspenTech declared today that they had come to a definitive contract for Emerson’s industrial software businesses OSI Inc. and the Geological Simulation Software business to be moved to AspenTech to create a diversified, high-performance industrial software leader with more significant scale, qualifications, and technologies.
Market Growth & Trends
The increased adoption of advanced process control across industries such as chemicals, petrochemicals, oil and gas, pharmaceuticals, food and beverage (F&B), and paper and pulp industries can be attributed to the rising demand for well-organized automation solutions. Advanced process control eradicates the participation of humans in production functions, lowering the chances of accidents and improving safety. Further, growing problems with industry-generated emissions, mainly from oil and gas, have encouraged governments of different nations to present guidelines that promote the usage of advanced process control. It assists minimize operational expenses, capital expenses, and adverse environmental effects, pushing the market development. Critical technological advancements and the integration of (PAT) process analytical technology for providing workers with offline and online model building, verification, and data analysis tools to help perform industry-related tasks are acting as other driving factors.
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• In 2021, the multivariable model predictive control segment dominated the market with the largest market share of 25% and market revenue of 0.49 billion.
The type segment is divided into inferential control, multivariable model predictive control, advance regulatory control, sequential control, and compressor control. In 2021, the multivariable model predictive control segment dominated the market with the largest market share of 25% and market revenue of 0.49 billion. Multivariable model predictive control systems are utilized in numerous industries, including oil and gas, food processing, chemicals, and petrochemicals. Also, the global market has been split into software and services based on revenue sources.
• In 2021, the oil and gas segment dominated the market with the largest market share of 16% and market revenue of 0.31 billion.
The end user segment is divided into pharmaceutical, oil & gas, food & beverage, energy & power, manufacturing, chemical, automobiles, and pulp & paper. In 2021, the oil and gas segment dominated the market with the largest market share of 16% and market revenue of 0.31 billion. Due to the increased adoption of advanced process control systems in the industry. It is attributed to the fact that processing functions in the oil and gas industry are complicated and should be handled in real-time.
Regional Segment Analysis of the Advanced Process Control Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global advanced process control market, with a market share of around 34.5% and 0.67 billion of the market revenue in 2021. In the Asia Pacific region there is a high need for advanced method management tools from multiple end-use enterprises. Developing industries interrelated to pharmaceuticals, chemicals, paints, and coatings in arising economies like China & India recreate a critical role in developing the APC market. Similarly, increasing environmental awareness among end-user domains and stringent legal rules are pushing the adoption of advanced process control (APC) systems in the region.
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Key players operating in the global advanced process control market are:
• Yokogawa Electric Corp
• Siemens AG
• Schneider Electric Se
• Rudolph Technologies
• Rockwell Automation, Inc.
• Honeywell International, Inc.
• General Electric Co.
• Emerson Electric Co.
• Aspen Technology
• ABB Ltd.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global advanced process control market based on the below-mentioned segments:
Global Advanced Process Control Market by Type:
• Sequential Control
• Multivariable Model Predictive Control
• Advance Regulatory Control
• Inferential Control
• Compressor Control
Global Advanced Process Control Market by End User:
• Oil & Gas
• Food & Beverage
• Energy & Power
• Pulp & Paper
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About the report:
The global advanced process control market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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