The global advanced process control market was valued at USD 13 billion in 2019 and is anticipated to reach USD 27 billion by 2026, expanding at a CAGR of 9% during the forecast period, 2020 – 2026. The growth of the market is attributed to the increase in demand for automation solutions across different end-users.

Advanced Process Control possesses a broad spectrum of technologies and techniques employed within industrial process control systems. It is used with basic process controls which are designed to facilitate control, automation requirements, and basic operation. The emergence of APC resulted in the advancement of process industry as it saves the cost of energy whilst increasing profitability by meeting operational constraints. It lessens the environmental emissions, improves the safety measures of the process, it reduces the process variability, thus allows the plants to operate at their designed capacity, improves the efficiency of operation, reduces the cost of maintenance, optimize time, and improve the decision's output. Moreover, it is an advanced technology that optimizes process profitability and operational performance, thus allowing companies to gain maximum from their assets. The manufacturers have been utilizing the APC technology for decades. Advancements and developments simplified the system on open computing platforms; advanced process control consists of model-based software which includes the driver software to assemble historical data from control systems, model verification, data analysis tools to ensure accuracy of the model, and operator guidance.

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Market Trends, Drivers, Restraints, and Opportunities:

• The demand for APC is increasing in petrochemical and nuclear power due to safety measures and for the optimization of the process; thereby, driving the market.
• The demand for APC is increasing owing to the features it possesses such as manufacturing better quality products, improved efficiency, safety, and cost, thus driving the market.
• The adoption of APC is increased as manufacturers are emphasizing on quality due to the increasing competitors.
• APC encourages enabling processing organizations and quality improvement, in order to maintain their competitive edge
• Small-scale organizations are anticipated to refrain from using APCs due to lack of skilled professionals and the need for high initial investments, thus hampering the market.
• The complexity in the production of processing systems increases the adoption of APC; therefore, propelling the market.
• An increasing emphasis on using the energy-efficient process drives the market.
• The cost of installing APC is high which impedes the market.
• The demand for APC in the industrial process is increasing owing to its accuracy and prediction of the inaccuracy of product estimates.
• Rising preference for automation increases the demand for APC; thereby, fueling the market.
• Lack of technological experts for the implementation of APC hampers the market.
• Developing industries are increasing the use of advanced process control to increase operational flexibility whilst reducing productions which are anticipated to propel the market during the forecast period.

Competitive Landscape

Major players in the global advanced process control market are Siemens, Emerson Electric Co., Rudolph Technologies, Rockwell Automation, Inc., Aspen Technology, Inc., Schneider Electric, Yokogawa Electric Corporation, ABB, Panasonic Corporation, and Honeywell International Inc. They engage in strategies such as partnership & collaborations, maintaining competitive prices, and product launches.

Segments Covered in the Report

The global advanced process control market has been segmented on the basis of

By Types:

• Software
• Hardware

• Interface and Display
• Computing Systems
• Control Systems
• Others

• Service

By End-Users:

• Cargo Handling
• Passenger Handling
• Aircraft Handling

By Regions:

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

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The following is the TOC of the report:

4.1. Introduction

4.1.1. Market Taxonomy

4.1.2. Market Definition

4.2. Macro-Economic Factors

4.2.1. Industry Outlook

4.3. Advanced Process Control (APC) Market Dynamics

4.3.1. Market Drivers

4.3.2. Market Restraints

4.3.3. Opportunity

4.3.4. Market Trends

4.4. Advanced Process Control (APC) Market - Supply Chain

4.5. Global Advanced Process Control (APC) Market Forecast

4.5.1. Advanced Process Control (APC) Market Size (US$ Mn) and Y-o-Y Growth

4.5.2. Advanced Process Control (APC) Market Size (000? Units) and Y-o-Y Growth

4.5.3. Advanced Process Control (APC) Market Absolute $ Opportunity

5.1. Market Trends

5.2. Introduction

5.2.1. Basis Point Share (BPS) Analysis by Type

5.2.2. Y-o-Y Growth Projections by Type

5.3. Advanced Process Control (APC) Market Size and Volume Forecast by Type

5.3.1. Advanced Regulatory Control (ARC)

5.3.2. Multivariable Model Predictive Control (MPC)

5.3.3. Nonlinear MPC

5.4. Absolute $ Opportunity Assessment by Type

5.5. Market Attractiveness/Growth Potential Analysis by Type

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Contact Information:

Name: Alex Mathews

Address: 500 East E Street, Ontario,

CA 91764, United States.

Phone No: USA: +1 909 545 6473

Email:[email protected]

Website:https://dataintelo.com