Westford USA, June 12, 2023 (GLOBE NEWSWIRE) -- The Global Advanced Process Control (APC) Market size is expected to reach USD 2757.72 million by 2030 and exhibit a CAGR of 9.25% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand for APC systems is due to their ability to reduce production time efficiently, ensure the manufacture of higher quality goods and enhance process plant operation, efficiency, cost and safety.
Government Initiatives and Market Trends to Promote the Use of Advanced Process Control (APC)
At a global scale, the Integration of machine learning with artificial intelligence, adoption of cloud-based APC systems, and increasing use of real-time data analytics trends promote the growth of advanced process control.
Several government initiatives project the growth of advanced process control in the coming years. For example, the US Department of Energy's (DOE) Advanced Manufacturing Office (AMO) program is focused on accelerating the adoption of energy-efficient technologies, including APC systems, in manufacturing industries.
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Model Predictive Control Type Demand to Grow Substantially in the Forecast Period
Model Predictive Control type dominated the global market owing to its high efficiency. It also uses mathematical models to optimize process performance and energy efficiency, which are becoming increasingly important in oil and gas, chemical, and pharmaceutical industries. According to SkyQuest, MPC systems can also improve process control in complex and dynamic systems, an essential requirement for many industries.
Oil and Gas Industry is the Leading Application Segment
In terms of application, the Oil and Gas Industry is the leading segment due to Its ability to optimize production processes. In addition, APC systems can reduce downtime and improve product quality. Increasing demand for oil and gas, coupled with the need for improved operational efficiency and reduced costs is expected to drive the adoption of APC systems in this industry.
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Asia-Pacific and North America are the Leading Markets Due to the Presence of Established Industries.
Region-wise, North America is one of the largest growing markets due to the presence of established industries. The High level of technological advancement along with government initiatives in the region are promoting the growth of this process.
Asia Pacific is the fastest-growing region in market due to the increasing adoption of APC systems in industries such as oil and gas, chemical and pharmaceuticals. It is also driven by rapid industrialization, urbanization and increasing demand for energy and chemicals. Government initiatives that are projecting the growth of the APC market in the Asia Pacific region include China’s “Made in China 2025” plan, which aims to increase the adoption of advanced manufacturing technologies, including APC systems, to enhance productivity and quality in the manufacturing industry.
Browse in-depth TOC on “ Advanced Process Control (APC) Market “
Pages – 242
Tables – 99
Figures – 76
Advanced Process Control (APC) Market Report Suggests:
- Yokogawa Electric Corporation and Shell have collaboratively developed the Platform for Advanced Control and Estimation R5.03 software suite, which is part of the OpreX™ Asset Operations and Optimization portfolio. This solution combines Shell's advanced plant process control technology with Yokogawa's real-time control technology to boost productivity, reduce energy consumption, and enhance product yield for customers.
- In terms of application, the oil and gas segment dominated due to the demand for optimized production processes.
- In terms of type, the model predictive control type segment is projected to gain more popularity due to its high performance
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
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Advanced Process Control (APC) Market Segmentation:
The global Advanced Process Control (APC) market report is segmented based on Product type, application, and region.
By Type
- Model Predictive Control (MPC)
- Regulatory Control
- Inferential Control
- Multivariable Control
- Others
By Application
- Oil and Gas
- Chemical
- Pharmaceutical
- Food and Beverage
- Power Generation
- Water and Wastewater Treatment
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
Advanced Process Control (APC) Market Major Company Profiles:
- ABB Ltd.
- Siemens AG
- Honeywell International Inc.
- General Electric Co.
- Schneider Electric SE
- Aspen Technology, Inc.
- Emerson Electric Co.
- Rockwell Automation, Inc.
- Yokogawa Electric Corporation
- Mitsubishi Electric Corporation
- Johnson Controls International plc
- NXP Semiconductors N.V.
- Advanced Process Solutions, Inc.
- Rudolph Technologies, Inc.
- B&R Industrial Automation GmbH
- Applied Materials, Inc.
- Kongsberg Gruppen ASA
- NovaTech Process Solutions, LLC
- The Dow Chemical Company
- National Instruments Corporation
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