New York, US, June 06, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Advanced Process Control (APC) Market Information By Type, By Revenue Source, And By Region – Market Forecast Till 2030”, the Advanced Process Control (APC) Market could thrive at a rate of 12.26% between 2023 and 2030. The market size will be reaching around USD 0.33 Billion by the end of the year 2030.
Market Overview:
Advanced Process Control (APC) is an all-encompassing software solution for model predictive control, designed to enhance process profitability by optimizing quality, increasing throughput, and minimizing energy usage. This cutting-edge technology offers automatic control systems that unlock the full potential of various industries, including Food & Beverages, Refining, Petrochemical, and Mining.
In today's economic environment, manufacturers face the challenges of constrained capital budgets, rising overheads, manufacturing costs, energy expenses, and fierce competition in the global market. To overcome these obstacles and maintain a competitive edge, Advanced Process Control provides a range of solutions to tackle complex manufacturing challenges, extracting maximum value from the production processes. It achieves this by improving production yield, enhancing product quality, and optimizing energy consumption, thereby streamlining manufacturing operations.
Consequently, the adoption of advanced process control is rapidly gaining momentum across diverse industries, as it offers effective techniques for operational optimization. This expansion has led to a significant growth in the APC market, with a wide-scale deployment of APC solutions. Additionally, the market is further propelled by increasing mandates to conserve energy, acting as a crucial driving force on a global scale.
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Key Companies in the advanced process control (APC) market include,
- General Electric Company (US)
- Siemens AG (Germany)
- ABB Ltd (Switzerland)
- Emerson Electric Corporation (US)
- Rockwell Automation Inc. (US)
- Honeywell International (US)
- Yokogawa Electric Corporation (Japan)
- Schneider Electric (France)
- Aspen Technology Inc. (US)
- Rudolph Technologies Inc. (US)
Latest Industry Updates:
On January 28, 2019, Saki Corporation, a renowned Japanese innovator specializing in automated optical and x-ray inspection and measurement equipment, proudly unveiled the certification of its automated optical inspection (AOI) systems by Panasonic. This achievement marks a significant milestone, as Saki's AOI systems become the first to receive Panasonic's endorsement for supporting its APC-MFB2 System.
Scope of the Report - Advanced Process Control (APC) Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 0.33 Billion |
| CAGR during 2023-2030 | 12.26% |
| Base Year | 2022 |
| Forecast | 2023-2030 |
| Key Market Opportunities | Improving data accuracy can improve the performance of the overall system |
| Key Market Dynamics | Rising safety and security concerns are expected to boost the demand for APC systems |
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Market Segmentation:
The analysis conducted by MRFR can be categorized into four main aspects to provide a deeper comprehension:
- Type: This includes a range of control methods such as Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control, Compressor Control, and others.
- Revenue Source: The revenue sources consist of Software and Services, among other contributors.
- Application: The application areas encompass Oil & Gas, Pharmaceuticals, Power, Food & Beverages, Petrochemicals, Chemicals, Semiconductors, and other sectors.
- Regions: The analysis covers four key regions, namely Asia Pacific, North America, Europe, and the Rest-of-the-World, to capture a global perspective.
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Geographical Analysis of the Advanced Process Control Market:
The global advanced process control market is led by the North American region, which holds the largest market share. The region's growth is fueled by substantial investments in technological development and the presence of market players offering cutting-edge technologies. Additionally, the adoption of these tools in sectors like healthcare, media & entertainment, BFSI, and IT & telecommunication is positively impacting market growth.
The well-established infrastructure in North America allows for faster implementation of advanced technologies, further driving market growth. The United States and Canada, with their increasing technological advancements and adoption of APC solutions, are at the forefront of the North American market. It is expected that North America will continue to dominate the global APC market, creating significant revenue opportunities.
In Europe, the demand from various sectors contributes to the region's position as the second-largest market globally. The increased adoption of APC solutions further propels market growth. The resurging economy in Europe plays a significant role in contributing to the market's expansion.
The Asia Pacific region is emerging as a profitable market for advanced process control and is expected to witness healthy growth. Factors such as increasing urbanization, along with a growing healthcare and entertainment industry, driven by the improving economy, foster market growth in the region.
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Competitive Analysis of the Global Advanced Process Control Market
The global advanced process control market is highly competitive, with the presence of numerous established players alongside smaller ones. The matured players in the market employ strategic initiatives such as acquisitions, collaborations, partnerships, expansions, and technology launches to gain a competitive edge and maintain their market positions.
Well-established players are actively investing in research and development (R&D) to develop cost-effective product portfolios. They are also pursuing expansion strategies to tap into growing markets and effectively address the market's critical needs. These players aim to offer a wide range of solutions and comprehensive workflows to cater to the diverse requirements of the market.
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