The Global Advanced Process Control Market was valued USD 1,549.80 million and is projected to exhibit a CAGR of 12.0% over the forecast period from 2021 to 2030.
The rising complexity of manufacturing and processing systems is expected to fuel the expansion of the advanced process control (APC) market throughout the forecast period. The limiting oscillations of important process variables, advanced process control systems are used to stabilize industrial processes and maximize plant performance. Enhanced monitoring of process parameters (pressure, temperature), greater process safety, lower electricity usage, and increased productivity are just a few of the benefits of sophisticated process control systems.
Furthermore, the cloud and the internet are fundamentally altering how these technologies are used and deployed, influencing how the business of digital optimization is conducted. Uncertainty exists for both suppliers and end-users when it comes to balancing these competitive market dynamics.
Even though the concept of APC has been established for over three decades, it has only recently gained traction as production units throughout the world focus more on process optimization.
These solutions enable in the integration of information, control, power, and safety solutions to meet the overall demand for affordable energy while also complying with severe regulatory requirements and lowering costs.
TABLE 1: GLOBAL ADVANCED PROCESS CONTROL MARKET OVERVIEW
Covid-19 Impact on Global Advanced Process Control Market
Asset owners have shifted from large capital, asset-intensive new builds, and plant modifications to meeting sustainability objectives through optimization and operational safety projects during this current period of market volatility due to the onset of the Coronavirus, energy demand destruction, and slow consumer spend. Advanced process control and online optimization solutions reduce process variability, eliminate costly product giveaway, optimize processes for limits, and enable autonomous operations. This is fueling demand for advanced process control and optimization solutions, which are quickly becoming must have in a highly competitive market.
Figure 1. Advanced Process Control Market Snapshot
Advanced Process Control Market, by Revenue Source
The advanced process control market is divided into three types of products: software and services. The service category accounted for the majority of the market share. Because of the huge installed base of advanced process control systems in developed regions such as North America and Europe, services are likely to see a significant increase in demand throughout the forecast period.
Global Advanced Process Control Market, by Type
Based on the type, the global advanced process control market is divided into advanced regulatory control, multivariable model predictive control, inferential control, sequential control, and compressor control. The multivariable model predictive control dominates the market with a percentage of the market. Energy facilities and refineries that require specialist control can benefit from a multivariable model predictive control system. Many sectors, including chemicals, oil and gas, food processing, and petrochemicals, use multivariable model predictive control systems.
Advanced Process Control Market, by Industrial Vertical
Based on the Industrial Vertical, the advanced process control market is segmented into oil and gas, chemicals, pharmaceuticals, energy & electricity, mining, minerals, and metals, food & beverages, and others. The oil and gas category, which accounted for the largest market share, owing to the widespread use of APC systems in the industry. This is on account of processing processes in the oil and gas industry are complicated and require real-time regulation. Previously, complicated data related with multiple procedures had to be computed manually, which was typically associated with a large margin of error. The oil and gas industry has begun to embrace advanced process controls to eliminate these manual errors, and it is likely to remain a prominent end-user of APC systems in the near future.
Advanced Process Control Market, by Region
Based on region, the market is segmented into Europe, North America, Asia Pacific, South America, and Middle East and Africa. Countries have taken significant leaps forward in the development of the ICT industry over the last century, and North America has been a leader in this field. North American corporations are noted for their entrepreneurial technical presence, despite a plethora of companies vying for a footing in the market. Asia Pacific has been driving market success, notably with mobile communication and internet penetration yielding lucrative benefits, thanks to a quick move towards digital empowerment and a successful ICT dominant landscape. Countries in the Asia-Pacific area, such as India and Japan, are thriving in the cloud technology market, as the region aims for cloud competency with an increasing number of businesses.
TABLE 2: GLOBAL ADVANCED PROCESS CONTROL MARKET OVERVIEW
Key Developments
- June 2021 - Yokogawa (Japan) and Shell (Netherlands) have jointly developed Platform for Advanced Control and Estimation R5.03, and released it as part of Yokogawa's OpreX asset operations and optimization family.
- June 2020 - ABB (Switzerland) introduced its tried and trusted ABB Ability Advanced Process Control solution to the metals industry, promising accurate modeling of process behaviors to achieve greater process stability, bringing improved product quality, output, and cost savings.
Major Companies: ABB Ltd. (Switzerland), Aspen Technology, Inc. (U.S.), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Rudolph Technologies, Inc. (U.S.), and Schneider Electric SE (France).
Market Segmentation:
By Revenue Source:
- Software
- APC Services
By Type:
- Advanced Regulatory Control
- Multivariable Model Predictive Control
- Inferential Control
- Sequential Control
- Compressor Control
By Industrial Vertical:
- Oil And Gas
- Petrochemicals
- Water & Wastewater
- Chemicals
- Power
- Paper & Pulps
- Pharmaceuticals
- Food & Beverages
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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