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Global Advanced Process Control Market to Reach $2 Billion by 2026
SAN FRANCISCO, Aug. 18, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Advanced Process Control - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 20907
Companies: 12 - Players covered include ABB Group; Aspen Technology, Inc.; Emerson Electric Company; Honeywell International, Inc.; Rockwell Automation, Inc.; Schneider Electric SA; Siemens AG; Yokogawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Oil & Gas, Power, Chemical, Other End-Uses); Segment (Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential, Sequential, and Compressor Control)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Advanced Process Control Maket to Reach $2 Billion by 2026
Amid the COVID-19 crisis, the global market for Advanced Process Control estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 7.9% over the analysis period. Advanced Regulatory Control, one of the segments analyzed in the report, is projected to record a 8.5% CAGR and reach US$997.5 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Multivariable Model Predictive Control segment is readjusted to a revised 7.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $334.4 Million, While China is Forecast to Grow at 12% CAGR
The Advanced Process Control market in the U.S. is estimated at US$334.4 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$479.7 Million by the year 2027 trailing a CAGR of 12% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 7.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
Inferential, Sequential, & Compressor Control Segment to Reach $491.5 Million by 2026
In the global Inferential, Sequential, & Compressor Control segment, USA, Canada, Japan, China and Europe will drive the 6.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$240.2 Million in the year 2020 will reach a projected size of US$379 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$67.6 Million by the year 2026, while Latin America will expand at a 8.6% CAGR through the analysis period. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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