How Has The Advanced Process Control Market Size Evolved In Recent Years?
The advanced process control market has seen considerable growth due to a variety of factors.
• In recent times, the advanced process control market has seen significant growth. It is projected to increase from $20.18 billion in 2024 to $22.13 billion in 2025, with a compound annual growth rate (CAGR) of 9.7%. The expansion during the historical period can be linked to the emergence of industrial automation, emphasis on energy efficiency, industry rules and standards, escalating complexity in industrial procedures, as well as cost reduction and operational efficiency.
What are the Market Size and Expected Growth Rates for the Advanced Process Control Market Size Evolve over the Forecast Period?
The Advanced Process Control market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, substantial growth is projected for the advanced process control market, with predictions of it soaring to $32.31 billion in 2029, representing a compound annual growth rate (CAGR) of 9.9%.
This anticipated surge during the forecasted period can be attributed to various factors such as the need for real-time monitoring and control of processes, the focus on predictive maintenance, customisation and scalability, and the growing requirements for energy efficiency. Key trends to look out for during this period are the use of advanced analytics for predictive maintenance, the adoption of cloud-based APC solutions, the rise in industrial automation, edge computing in control systems, interoperability, open standards, and the shift towards remote monitoring and home-based care.
Which Key Drivers Are Propelling The Advanced Process Control Market's Growth?
The increasing need for automated solutions is set to spur the expansion of the advanced process control market. Automation, a technology that relies less on human intervention to finish jobs, is expected to contribute significantly to this fast-paced market. Industry leaders implement Process Automation Systems (PAS) and advanced process control (APC) systems to reduce complexity, leading to improved efficiency, reduced human interference, and heightened profit margins in an ever-evolving scenario. APC lends an added value to the process automation system. As a result of these factors, the burgeoning requirement for automation is likely to augment the advanced process control market. An illustrative example of this is a report from the International Data Corporation (IDC) which states that expenditure on IoT products and services in Australia and New Zealand alone will exceed $16 billion in 2022, a rise of 13% from 2021. Thus, the expanding need for automation is fuelling the growth of the advanced process control market.
What Are The Key Segments Within The Global Advanced Process Control Market?
The advanced process control market covered in this report is segmented –
1) By Revenue Source: Software, Services
2) By Type: Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control And Compressor Control
3) By End-Use: Oil And Gas, Petrochemicals, Pharmaceuticals, Food And Beverages, Energy And Power, Chemicals, Other End-Uses
Subsegments:
1) By Software: On-Premises Software, Cloud-Based Software, Licensing Fees
2) By Services: Consulting Services, Integration Services, Maintenance And Support Services
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How Are New Trends Impacting The Size Of The Advanced Process Control Market?
Leading firms within the advanced process control market are seeking to combine optimal operational standards with minimal energy usage, achieved through innovative technologies like digital twin technology. This technology creates a digital version of a physical object or system, allowing for real-time analysis, insights, and simulations to augment understanding and improve decision making. A specific example of this is from February 2022 when ABB, a Swiss-based supplier of electrical equipment and automation products, unveiled the ABB Ability Smart Solution for Wastewater. This digital solution, created to address issues in wastewater treatment plants, incorporates both advanced process control (APC) and digital twin technology, aiming to optimize operational conditions by reducing process variability and improving stability.
Who Are the Key Players In The Advanced Process Control Market?
Major companies operating in the advanced process control market include:
• Schneider Electric
• Siemens AG
• General Electric
• Aspen Technology Inc.
• Emerson Electric Co.
• ABB Ltd.
• Yokogawa India Ltd.
• Honeywell International Inc.
• Rockwell Automation Inc.
• Azbil Corporation.
• MAVERICK Technologies LLC
• SGS SA
• Metso Outotec
• Mineser GmbH
• Cisco
• NovaTech LLC
• Applied Materials Inc.
• Dassault Systèmes
• SAP SE
• Mitsubishi Electric Corporation
• Wonderware (Aveva Group)
• Andritz AG
• pirax-Sarco Engineering plc
• OMRON Corporation
What Are The Regional Insights Into The Advanced Process Control Market?
Asia-Pacific was the largest region in the advanced process control market in 2024. North America is expected to be the fastest-growing region in the advanced process control market report during the forecast period. The regions covered in the advanced process control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
