Advanced Process Control (APC) Market Size, Share and Global Trend by Services (Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control, Compressor Control), Industry Vertical (Manufacturing, Oil & Gas, Energy & Power, Pharmaceutical, Food & Beverage, Pulp & Paper, Chemical, Automobiles) and Regional Forecast, 2024-2032

According to the world bank group, the manufacturing industry is growing robustly and key players are undertaking investments to fulfil the growing demand. The manufacturing industry is expected to capture US$ 13.90 Tn investment in software by 2019. Advanced Process Control (APC) is a model based software that provides performance and economic expansion in the industries by improving quality, throughput, and reducing energy usage. It uses state-of-the-art technology to provide automatic control systems that are capable of delivering process efficiency across multiple industries including manufacturing, refining, petrochemical, mining, and food and beverage.

APC software provides benefits such as automated data collection and analysis, linear programming, control systems independence, and optimize manufacturing operations that improve process safety and reduce environmental emissions. Recent developments in the advanced process control include integrating PAT (Process analytical technology) technology in advance process control system to offer offline and online model building, verification, and data analysis tools that ensure model accuracy.

Considerable investments in digitalization by various industries such as automobiles, pharmaceutical, etc., tends to drive the growth of the advanced process control market. For instance, in 2018, AVEVA Group and Tomra Systems announced a partnership to lead the digital transformation of automobiles manufacturing industry. This partnership provides greater operator performance, visibility, and efficiency with TOMRA’s compact equipment’s.

Key Players Covered:

Key market players in the global advanced process control market are ABB Ltd., Rudolph Technologies, Inc., General Electric Co., AVEVA Group plc, Aspen Technology, Inc., Yokogawa Electric Corp, Rockwell Automation, Inc., Emerson Electric Co., Honeywell International, Inc. Schneider Electric Se, Siemens AG among others.

Regional Analysis:

The Asia Pacific is expected to hold the dominant position in the global advanced process control software market and is projected to maintain its control throughout the forecast period. Major countries such as India and China are expected to drive the demand for advanced process control software in the APAC region. The growth in manufacturing and chemical industry in China is projected to offer significant growth opportunities for the advanced process control software market in the country. For example, during 2016-17, manufacturing industry in China generated revenue of US$ 1.4 Tn that helps significant players in China to adopt advanced process control software to grow their business that would help to drive the global market for the upcoming forecast period.