The global advanced process control market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
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:
IMARC Group 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:
Breakup by End Use Industry:
- Oil and Gas
- Food and Beverage
- Energy and Power
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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.
|Base Year of the Analysis
||Component, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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Key Questions Answered in This Report:
- How has the global advanced process control market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global advanced process control market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global advanced process control market and who are the key players?
- What is the degree of competition in the industry?