The global advanced process control market size reached US$ 1.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.35 Billion by 2027 exhibiting a growth rate (CAGR) of 8.20% during 2022-2027.
Advanced process control (APC) is a set of technologies and model-based software utilized in various industries to maximize functional efficiency. It includes online sensors and digital control units, which assist in improving automating data collection, production capacity, equipment reliability, and monitoring process parameters while consuming minimal energy. It also helps industries to solve multivariable control problems, improve productivity, optimize manufacturing operations, and reduce disruption. Presently, APC is available in various types, including multivariable model predictive control (MPC), nonlinear MPC, and advanced regulatory control (ARC).
Advanced Process Control Market Trends and Drivers:
The market is primarily driven by the escalating demand for APC automation solutions across the pharmaceuticals, chemicals, petrochemicals, oil and gas, food and beverage (F&B), and paper and pulp industries. Additionally, the rising adoption of process analytical technology (PAT) for training workers with offline and online model building, verification, and data analysis tools to enable the precise performance of industry-related tasks represents another growth-inducing factor.
Moreover, the growing concerns regarding industry-generated emissions have prompted governments to introduce policies that encourage the use of APCs to prevent adverse environmental impacts, which in turn is contributing to market growth.
Moreover, extensive research and development (R&D) activities conducted by the leading players for introducing energy-efficient process controlling systems and the increasing utilization of APC to enable instant modification in production operations are further providing a positive thrust to the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Software
- Service
Breakup by End Use Industry:
- Oil and Gas
- Petrochemical
- Pharmaceutical
- Food and Beverage
- Energy and Power
- Chemical
- Others
By Geography:
-
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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List of Major Key Players:
- 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
- Yokogawa Electric Corporation.
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