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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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.
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.
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)
Name: Abhishek Sawant
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Organization: Market Research Future
Release ID: 88910256