Market Highlights

Wealthy industries, like oil and gas, water & wastewater, paper & pulps, power, petrochemicals, pharmaceuticals, food & beverages, chemicals, et al. are applying advanced process control. The improved plant performance and better stability of operations offered on the reduction of processes’ variables achieved by APC can support the expansion of its market. Other benefits of APC, like improvement within the production capacity, better monitoring of process parameter, and reduced energy consumption, improved process safety, and predictive maintenance can benefit the advanced process control market expansion. The advanced process control market surge are often attributed to the increase in demand for energy-efficient processes. APC is applied for distillation, furnaces, steam power optimization, and warmth recovery for reduction in energy loss. These are expected to bolster the expansion of the worldwide APC market. On the contrary, the high implementation cost can restrain the APC market growth.

Market Research Future (MRFR), in its latest “Advanced Process Control Market” report, states that the market is predicted to thrive at 12.09% CAGR through 2017 to 2023. Advanced process control (APC) is gaining popularity across different sectors as an optimization technique. APC is deployed to use to get better profitability and improve the efficiency operational process. APC plays a big role in processes, like stabilization of control loops, process interactions, and large process dead time. Model predictive control, inferential control, and regulatory control are differing types of advanced process control solutions that are available to serve different purposes. These are factors that are expected to prompt the expansion of the worldwide advanced process control market.

Key Players

MRFR identified some major players functioning within the global Process Control Software Market. They are; Siemens AG (Germany), General power company (US), Emerson Electric Corporation (US), ABB Ltd (Switzerland), Honeywell International (US), Rockwell Automation, Inc. (US), Schneider Electric (France), Yokogawa Electric Corporation (Japan), Rudolph Technologies, Inc. (US), and Aspen Technology, Inc. (US).

Regional Outlook

Asia Pacific advanced process control (APC) is predicted to carry 39.2% share of the worldwide market. MRFR study states that North America market is predicted to value at USD 386.10 million at 13.79% CAGR by 2023. Europe advanced process control is predicted to surge at 10.36% CAGR and attain a valuation of USD 302.87 million by 2023. The expansion of Asia Pacific market APC market are often attributed to the growing number of power plants, manufacturing units, and therefore the rise within the industrial automation requirement. APC solution is adopted by the mining industry thanks to decrease in cost of capital of projects, less commissioning time, and wish to spice up productivity of plants. This will support the APAC APC market growth.

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Global Advanced Process Control (APC) Market Research Report: Information by Type (Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control and Compressor Control), Revenue Source (Software and Services), Application (Oil & Gas, Pharmaceuticals, Power, Food & Beverages, Petrochemicals, Chemicals and Semiconductors) and Region (North America, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2023

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