SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Advanced Process Control Market Size Worth $24.9 Billion By 2025: Grand View Research, Inc.
[September 11, 2019]

Advanced Process Control Market Size Worth $24.9 Billion By 2025: Grand View Research, Inc.


SAN FRANCISCO, Sept. 11, 2019 /PRNewswire/ --  The global advanced process control market size is expected to reach USD 24.9 billion by 2025, registering a CAGR of 9.2% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness considerable growth across the globe owing to the growing emphasis of several end use industries on the improvement and optimization of the production process. Advanced process control solutions enable organizations to significantly improve the accuracy of product testing, enhance quality, and reduce error.

Grand_View_Research_Logo

Key suggestions from the report:

  • In terms of product type, the hardware segment is anticipated to witness high CAGR over the forecast period. This can be attributed to the increasing adoption and deployment of advanced process control systems in various verticals such as nuclear power plants, petrochemicals, oil and gas upstream, downstream, and processing operations
  • Of the key end use segments covered in the report, the energy and power segment is expected to witness significant growth during the forecast period. This can be attributed to the significant adoption of advanced process control systems in nuclear power plants and other alternative sources of power generation
  • The Asia Pacific APC market is anticipated to witness high CAGR over the forecast period owing to robust industrialization in countries such as China and India and the higher adoption rate of advanced process control systems in several industries
  • The APC market is oligopolistic and is dominated by companies such as Schneider Electric, Siemens, Rudolph Technologies, Aspen Technology, Inc., Emerson Electric Co., ABB, Yokogawa Electric Corporation, Panasonic Corporation, Rockwell Automation, Inc., and Honeywell International Inc. Collectively, these companies account for nearly 80% of the market
  • Leading Advanced Process Control (APC) market players are in the process of acquiring small startups for technological advantage, provision of better services, and regional expansion.

Read 83 page research report with TOC on "Advanced Process Control Market Size, Share and Trends Analysis Report By Product Type (Hardware, Software, Service), By End Use, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/advanced-process-control-apc-market

As companies seek ways of improving the quality of their products and reduce the cos of operations to be able to maintain their competitive edge, the demand for advanced process control systems is likely to continue to rise in the near future. Furthermore, the increasing adoption of advanced process control systems across industries such as nuclear power, chemical, and semiconductor is encouraging APC companies to invest in research and development activities to develop systems with enhanced capabilities. These factors are anticipated to further propel the growth of the global market over the forecast period.



APC is a software-based closed-loop feedback-based process control system that helps increase productivity, minimize waste, and improve quality assurance under real-world operating conditions. By enabling the easy deployment of technologies such as model predictive control and advanced computing systems in the processing and manufacturing sectors, the use of APCs has enabled companies to increase the affordability of products. Moreover, APC systems also aid in lead time reduction to decrease the operational cost associated with it.

Additionally, APCs have a significant demand in the oil and gas sector and are used for optimization and control of a variety of processes. The steady expansion of the chemical industry is also anticipated to drive the adoption of APCs over the forecast period to stabilize industrial operations and optimize plant performance by minimizing the fluctuations of key process variables. Increasing competition has compelled process industries to adopt advanced process control systems to bring about an improvement in economic performance to maintain their competitive edge. However, the need for high initial investments could restrain the growth of the APC market to a certain extent over the forecast period.


Grand View Research has segmented the Advanced Process Control market on the basis of product type, end use, and region:

  • Advanced Process Control Product Type Outlook (Revenue, USD Billion, 2014 - 2025)
    • Hardware
      • Control Systems
      • Interface and Display
      • Computing Systems
      • Others
    • Software
    • Service
  • Advanced Process Control End Use Outlook (Revenue, USD Billion, 2014 - 2025)
    • Oil and Gas
    • Chemicals
    • Pharmaceuticals
    • Energy & Power
    • Mining, Minerals, and Metals
    • Food & Beverages
    • Others
  • Advanced Process Control Regional Outlook (Revenue, USD Billion, 2014 - 2025)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

Find more research reports on Sensors & Controls Industry, by Grand View Research:

  • 3D Sensors Market – Continuous developments through extensive R&D are expected to fuel innovation in the 3D sensors market.
  • Conveyor Systems Market The conveyor systems market is expected to be driven by technological advancements over the forecast period. Reducing operational costs and production cycle time with respect to material handling has minimized error possibilities
  • Night Vision System (NVS) and Driver Monitoring System (DMS) Market – Heightened safety awareness and increasing demand for luxury cars is expected to drive the global NVS and DMS market.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com 
Web: https://www.grandviewresearch.com 
Follow Us: LinkedIn | Twitter


[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2019 Technology Marketing Corporation. All rights reserved | Privacy Policy