The manufacturing sector is expanding strongly, and major players are making investments to meet the rising demand, according to the World Bank Group. By 2019, it is anticipated that the manufacturing sector will invest US$ 13.90 trillion in software. By enhancing quality, throughput, and energy efficiency, model-based software called Advanced Process Control (APC) helps industries perform better and experience economic growth. Modern technology is used to create automatic control systems that can deliver process efficiency across a variety of industries, including manufacturing, refining, petrochemical, mining, and food and beverage. Benefits of APC software include automated data collection and analysis, linear programming, control system independence, and manufacturing operations optimization that enhances process safety and lowers emissions. Recently, advanced process control systems have been integrated with PAT (Process Analytical Technology) technology to provide offline and online model building, verification, and data analysis tools that guarantee model accuracy.
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Key Industry Players in the Advanced Process Control Market:
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, and Siemens AG are some of the major market participants in the global advanced process control market.
Key Industry Developments
- In order to boost overall productivity, improve the robustness of processes, and shorten process times, ABB Ltd. introduced the PAT (Process Analytical Technology) model in 2018. This model offers multivariable standard predictive control (SPC) and advanced modeling platforms to improve end-use industries like oil & gas, petrochemicals, cement, and pulp & paper through better process control and quicker trouble rejection.
- Honeywell International Inc. introduced “OptiComp” software for advanced process control solutions in 2017. This software primarily serves the oil and gas and petrochemical industries and functions as model predictive control, regulatory control, and inferential control solution.
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Report on the Scope and Segmentation of the Advanced Process Control Market
- Advanced Regulatory Control
- Multivariable Model Predictive Control
- Inferential Control
- Sequential Control
- Compressor Control
By Industry Vertical:
- Oil & Gas
- Energy & Power
- Food & Beverage
- Pulp & Paper
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of Middle East & Africa)
The Asia Pacific region is anticipated to maintain its leadership in the global market for advanced process control software during the course of the forecast period. In the APAC region, major nations like China and India are anticipated to lead the market for sophisticated process control software. The advanced process control software market in China is anticipated to experience considerable growth potential due to the country’s expanding manufacturing and chemical sectors. For instance, the manufacturing sector in China earned US$ 1.4 Tn in revenue between 2016 and 2017, which encouraged key businesses to invest in modern process control software to expand their operations and fuel the worldwide market for the foreseeable future.
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