Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving advanced process control market.
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The advanced process control is a technology which maximizes the manufacturing and operational and reduces the complexity with sustainable production. The never-ending demand coupled with quantity and quality of production has led to the implementation and development of advance process control mechanism to fulfil all requirement with reduced operation cost and time. This technique is used widely across numerous industries such as pharmaceuticals, petrochemicals, oil & gas etc.
Advanced Process Control Market Outlook
The market is expected to grow with a steady CAGR through 2030 . The current market is primarily swept by petrochemical, nuclear power, oil & gas industries due to safety, improvement and quality in production plants
The constant rise in growing demand from users and adoption of best practices to improve the production and quality has led to significant growth in APC system. However, it comes with high initial capital and deems fit for large scale production
Advanced Process Control Market: Key Drivers & Restraints
Manual process and human intervention are always prone to error in some extent, and with complex industrial process, the flaw and miscalculation could be enormous, which can lead to major business loss. APC, not only reduces the fault, but also predicts the inaccuracy of product estimates.
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Automation is the only technology which find place in every corner of the globe and industries are more than happy to spend huge money on it. The market for automation process control is not new, however it gained momentum recently, owing to process optimization and quality control. Besides that, it reduces the dependency on manpower and addresses the shortages in workforce.
The market outlook looks bright, but a high-end technology which require mammoth initial capital diminishes the prospects for small scale industries. Furthermore, it requires niche technological experts for implementation and deployment for optimal results. Automation is also seen as a threat by fewer economist as it reduces the manpower at low level[RP2] .
Advanced Process Control Market: Region-wise Analysis
Asia pacific is leading the race to acquire the fast-growing emerging advanced process control market. China and India being the dominant player, collectively accounts for significant share of this emerging market.
China is expected to register significant growth and offerings in advanced process control market. China manufacturing companies are already outperforming in term of production and the blend of advanced processing control system can be a revolutionary.
For instance, during 2016-17 China revenue generation was US 1.4 trillion alone from manufacturing sector India too, is adapting to this radical technology, which will help the market to register a significant growth in near future.
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Advanced Process Control Market: Competitive Landscape
- General electric Co.
- Rudolph Technologies,
- Yokogawa Electric Corp
- Emerson Electric Co.
- ABB Ltd.
- Aspen Technology
- Honeywell International, Inc.
- Schneider Electric Se
- Rockwell Automation, Inc.
- Siemens AG
In 2018 the European regional APC market accounted more than 30 % of overall market. The high adoption rate across oil &gas, petrochemicals and energy sector is the manifestation of growing demand of advance process control market.
In 2016, Rudolph Technologies unveiled its new patented clearfind technology capable of detecting organic defects. These minute defects are even difficult to by advanced imaging technologies. The industry is no actively collaborating with multiple customers to address inspection challenges.
Furthermore, a year later in 2017 Honeywell Process Solutions released their APC at Bashneft oil refining complex
In Feb 2018 Apex Optimization was acquired by AspenTech altogether, they introduced advance process control with adequate planning and scheduling for refineries and petrochemicals companies
- North and Latin America (US, Canada & Brazil)
- Europe (UK, Germany & France)
- Asia Pacific (China, India & Japan)
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
The Advanced Process Control Market can be segmented based on the following:
By Industry Vertical
- Oil & Gas
- Energy & Power
- Pulp & Paper
- Advanced regulatory Control
- Inferential Control
- Sequential Control
- Compressor Control