Advanced Process Control Market - Greater Growth Rate during forecast 2018 - 2023
Market Highlights
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, where manufacturers are confronted by the
challenges of curtailed capital budgets and rising overheads, manufacturing
cost, energy costs, and struggle to stay at the front of the competition in the
global market.
Advanced Process
Control helps them address complex manufacturing challenges with various
solutions that can extract maximum value from the manufacturing processes. It
improves production yield, quality, and reduce energy consumption optimizing
manufacturing operations.
As a result,
advanced process control is being quickly absorbed in various industries for
optimizing operational techniques. Consecutively, the APC market is growing
rapidly witnessing the widened deployment of APC solution. Moreover, increasing
mandates to save energy are key driving force escalating the market on the
global platform.
Considering the
impressive growth records, the market perceives, today, Market Research Future
(MRFR) in its recently published study report asserts that the global advanced
process control market will register an impressive CAGR over 12.09% throughout
the forecast period (2017-2023), witnessing exponential accruals.
Introduction of
new labor safety norms and increasing requirement for energy efficient process
control solutions are major driving forces supporting the growth of the market.
The factors providing impetus to the APC market growth include the high
efficiency at low-cost model and ease in business processes demonstrated by APC
and the integration of advanced process control with the traditional business
process.
On the other
hand, factors challenging the growth of APC market include high costs of
implementation and the reduced potential APC for knowledge-based business
processes.
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Segmentation:
The MRFR
analysis is segmented into four key dynamics for enhanced understanding.
By Type: Advanced Regulatory Control,
Multivariable Model Predictive Control, Inferential Control, Sequential
Control, and Compressor Control among others.
By Revenue
Source: Software and
Service among others.
By
Application: Oil &
Gas, Pharmaceuticals, Power, Food & Beverages, Petrochemicals, Chemicals,
and Semiconductors among others.
By Regions: Asia Pacific, North America, Europe,
and the Rest-of-the-World.
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.
Global
Advanced Process Control Market – Competitive Analysis
The advanced process control market appears to be highly competitive
characterized by the presence of several well-established as well as small
players. Matured players incorporate strategic initiatives such as acquisition,
collaboration, partnership, expansion, and technology launch in order to gain a
competitive advantage and thus to maintain their positions in this
market.
Well-established players are increasingly investing in R&D to develop
a cost-effective product portfolio and are seeking expansion through various
strategic initiatives. These players tap the growing markets for expansions and
strive to address the critical needs of the market with a broad range of
solutions and effective and complete workflow.
Major
Players:
Key players leading the global APC market include Aspen Technology, Inc.,
ABB Ltd., Emerson Electric Co., Honeywell International, Inc., General Electric
Co., Rockwell Automation, Inc., Schneider Electric SE, Rudolph Technologies,
Inc., Yokogawa Corporation, and Siemens AG among others.
Industry/
Innovation /Related News:
January 28, 2019 --- Saki Corporation (Japan), an innovator in the field
of automated optical and x-ray inspection and measurement equipment, announced
that its automated optical inspection (AOI) systems are the first AOI systems
to be certified by Panasonic to support its APC-MFB2 System.
This partnership with Panasonic Smart Factory Solutions brings Saki a
very important aspect for yield improvement, not only in the pre-reflow process
but in the entire SMT line for meeting M2M connection requirements.
January 10, 2019 --- ControlSoft, Inc. (the US), a leading global
provider of software products and advanced control technologies used for
real-time process control in industrial markets announced the acquisition of
eSimulation, Inc. (the US), a pioneer in the field of midstream natural gas
gathering and processing cloud-based software solutions.
The acquisition allows eSimulation to offer a range of solutions to the
midstream and upstream industries. For instance, ControlSoft’s MANTRA advanced
process control (APC) platform can help stabilize gas plants, condensate
stabilizers, and fractionation facilities and enable operators to effectively
hit optimization targets among others.
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List of Tables
TABLE 1 GLOBAL VIRTUAL
REALITY MARKET BY COMPONENT, 2017-2027 (USD BILLION)
TABLE 2 GLOBAL
VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2017-2027 (USD BILLION)
TABLE 3 GLOBAL
VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2017-2027 (USD BILLION)
TABLE 4 GLOBAL
VIRTUAL REALITY MARKET, BY VERTICAL 2017-2027 (USD BILLION)
TABLE 5 GLOBAL
VIRTUAL REALITY MARKET, 2017-2027 (USD BILLION)
TABLE 6 NORTH
AMERICA VIRTUAL REALITY MARKET BY COUNTRY,2017-2027 (USD BILLION)
TABLE 7 NORTH
AMERICA VIRTUAL REALITY MARKET BY COMPONENT, 2017-2027 (USD BILLION)
TABLE 8 NORTH
AMERICA VIRTUAL REALITY MARKET BY DEVICE TYPE, 2017-2027 (USD BILLION)
TABLE 9 NORTH
AMERICA VIRTUAL REALITY MARKET BY TECHNOLOGY,2017-2027 (USD BILLION)
TABLE 10 NORTH
AMERICA VIRTUAL REALITY MARKET BY VERTICAL, 2017-2027 (USD BILLION)
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