Market Highlights
According to Market Research Future (MRFR), the global advanced process control market would register 12.09% CAGR throughout the forecast period (2017-2023), witnessing exponential accruals.
Advanced Process Control (APC) is a comprehensive model predictive control software that enhances process profitability by improving quality, increasing throughput while reducing energy usages. This state-of-the-art technology provides automatic control systems that are capable of releasing process potential across the industries including Food & Beverages, Refining, Petrochemical, and Mining.
Leverage to the economic environment, today, manufacturers are confronted by the need to curtail the capital budgets due to the rising overheads, manufacturing cost, energy costs, and struggle to stay at the front of the market competition.
Advanced process control helps manufacturers to address such complex challenges with various solutions that can extract maximum value from the manufacturing processes. APC also improves production yield, quality, and reduce energy consumption, optimizing manufacturing operations.
Resultantly, advanced process control solutions are garnering a colossal market prominence, getting quickly absorbed in various industries for optimized operational techniques. The APC market is witnessing rising deployments of these solutions. Moreover, increasing mandates to save energy are acting as significant tailwinds escalating the market on the global platform.
Additional factors influencing the growth of the market include the introduction of new labor safety norms, increasing requirement for energy-efficient process control solutions, and the integration of APC with the traditional business process.
The demand for high efficiency and a low-cost model and the success achieved in easing business processes are major driving forces supporting the growth of the market. Conversely, high costs of implementation and the reduced potential APC for knowledge-based business processes are some of the factors challenging the growth of APC market.
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Regional Analysis:
The North American region leads the global advanced process control market holding the largest market share. Factors fueling the growth of the regional market include substantial investments transpired into the field of technological development and the presence of the fervent market players that can offer cutting-edge technologies. Simultaneously, the increasing adoption of these tools in some of the burgeoning sectors such as healthcare, media & entertainment, BFSI, and IT & telecommunication are impacting the market growth, positively.
Besides the availability of well-established infrastructure that allows faster implementation of advanced technologies provides impetus to the market growth. The U.S. and Canada heading with the increasing technological advancements and the uptake of APC solutions are leading the North American market. Continuing with the same growth trends, North America is expected to retain its dominance over the global APC market creating a larger revenue pocket.
The European APC market, led by the demand from the various sectors accounts for the second-largest market, globally. Also, the augmented uptake of these solutions fuels the increase in the regional market. The resurging economy is playing a major role in contributing to the market growth in the region, significantly.
Asia Pacific region, on the other hand, is emerging as a profitable market for the advanced process control and is expected to witness a healthy growth over the review period. Factors such as increasing urbanization alongside the growing healthcare and entertainment industry which is driven by the improving economy in the region foster the market growth.
Segmentation:
The report is segmented into four key market dynamics to widen the scope of understanding,
By Type: Multivariable Model Predictive Control, Advanced Regulatory Control, Inferential Control, Compressor Control, and Sequential Control, among others.
By Revenue Source: Software and Services, among others.
By Application: Pharmaceuticals, Oil & Gas, Power, Food & Beverages, Chemicals, Petrochemicals, and Semiconductors among others.
By Region: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Competitive Dashboard:
Highly competitive, the advanced process control market appears to be diversified due to the presence of several large and small-scale small players. To gain an edge over their competitors in the market, matured players adopt strategies such as acquisition and merger, expansion, collaboration, and technology launch.
These players also invest increasingly in R&D to develop a cost-competitive product portfolio and to acquire small yet promising companies in the emerging markets. They strive to address the critical market needs with a wide range of solutions and effective & complete workflow.
Major Players:
Players leading the global APC market are Aspen Technology, Inc., Emerson Electric Co., ABB Ltd., Honeywell International, Inc., Rockwell Automation, Inc., General Electric Co., Schneider Electric SE, Yokogawa Corporation, Rudolph Technologies, Inc., and Siemens AG, among others.
Industry/ Innovation /Related News:
June 24, 2019 --- Nanometrics Incorporated (the US), a leading provider of advanced process control metrology and software analytics, and Rudolph Technologies, Inc. (the US), a leading provider of semiconductor process control systems, announced the signing of a merger to create a premier semiconductor process control company.
Combining an all-stock merger of equal transactions, the merged company will be a premier company, providing end-to-end process control software, metrology, inspection, and lithography equipment to the semiconductor industry and other advanced markets. Considering the fact that customers are to continue to invest in more advanced process control (APC) solutions, the combined technology portfolio and established channels to these markets are estimated to accelerate the ability to serve both front-end and back-end markets.
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