ID: MRFR/ICT/3378-CRR | May, 2018 | Region: Global | 100 pages | Cooked Research Reports
Advanced process control is being quickly adopted in industries such as petrochemicals, oil & gas and pharmaceutical for optimizing operational techniques. By deploying advanced process control system, businesses are not only ramping up operational processes but also increasing profitability. Process control plays a crucial role in process industries as it stabilized control loops, big process dead time, and process interactions. Model predictive control, inferential control, and regulatory control are the major types of advanced process control currently available. The global market for advanced process control is set to surge at an impressive CAGR of 12.09% between 2017 and 2023. Introduction of new labor safety & security norms and increasing requirement for energy efficient process control solutions are two of the major factors supporting the growth of the market.
In this report, the user will come across important historical and ongoing trends, dynamics, and market estimations for the future. These key elements are identified after reviewing all the factual parameters. Market valuations provided in the report are based on region-wise analysis and other relevant segmental studies along with country-level analysis for each of the market segments. Users of this report will gain a comprehensive analysis of the global adhesive process control market. The report offers a complete and impartial assessment of market by investigating all the facts, historical information and statistical references. The projections made in the report are a result of a steadfast transverse study.
The report offers a detailed segmental analysis of the global advanced process control market based on types, revenue source and applications. By type, the market has been segmented into advanced regulatory control, multivariable model predictive control, inferential control, sequential control, and compressor control. By revenue source, the market is segmented into software and service. By application, the market is segmented into oil & gas, pharmaceuticals, power, food & beverages, petrochemicals, chemicals, and semiconductors.
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, and The Middle East & Africa. In North America, the country-level market analysis included Canada and the U.S. In Europe, countries such as The U.K, Germany, France, Spain, Italy where covered. The report also evaluates the market in few other European countries in the Rest of the Europe section. Advanced process control market in Asia Pacific covered China, India, Japan, South Korea, Australia, Taiwan, and Rest of Asia Pacific. The Middle East & Africa covered countries such as Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, Iran, along with Rest of the Middle East section.
ABB Ltd., Aspen Technology, Inc., Emerson Electric Co., General Electric Co., Honeywell International, Inc., Rockwell Automation, Inc., Rudolph Technologies, Inc., Schneider Electric SE, Siemens AG, and Yokogawa Corporation.
The report offers insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives.
Market Research Future (MRFR) employs a fail-safe research approach to make concrete conclusions on the market. Both top-down and bottom-up approaches were utilized for compiling this report, ensuring an errorless market validation and estimation process. The key players in the market along with their share in respective geographies were determined using primary and secondary resources. The research approach also involves study of the annual and financial reports of top market players and extensive interviews with domain experts. All the possible parameters of market have been considered and investigated in extensive detail during the compilation of the report. The information sourced for leveraged for gathering market acumens underwent multilevel verification process.
Base Year: 2016
Forecast Period: 2017-2023
Market Denomination: USD Million
Exchange rates and currency: For conversion of various currencies to USD, average historical exchange rates were used according to the year specified. For all historical and current exchange rates required for calculations & currency conversions - OANDA - website was used in this research study.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for advanced process control
By Revenue Source
Process manufacturing is a central manufacturing category, its importance can be felt across several industries including food & beverage, chemical, consumer package good and biotechnology among others. However, process manufacturing can often become precarious owing to its nature. Over the years, pressure has been constantly mounting on the process manufacturing industry to enhance operational standards and deploy systems that can increase the level of labor safety. At the same time, extensive energy requirement from the process manufacturing industry has been a major area of concern, grabbing the attention of environmental organizations and controlling authorities. Factors as such has been instrumental in driving the adoption of advanced process control (APC) across industries. In 2017, the global market for advanced process control was valued at over USD 984 Mn and is expected to surpass USD 1,900 Mn by the end of 2023.
Several advanced process control systems have come in recent years in part due to increasing regulatory pressure on the manufacturing sector. The growing trend of industrial process optimization as a measure to reach cost saving, safety and efficiency goals has partly guided the global market for advanced process control. Deployment of advanced process control not only lowers energy consumption but also checks thermal losses. APC is curbing energy loses in processes such as furnaces, distillation columns, reactors, heat recovery, and steam power optimization. Reduction in thermal losses eventually results in energy and cost saving, as well as achieve reduction in CO2 emissions. Nevertheless, high deployment cost remains an impediment for the market. Many of the small and mid-scale manufacturing plants continue to find it unviable to deploy APC systems. Another major factor currently undermining the market opportunities is the lack of knowledge and expertise pertaining to advanced process control system.
At this point, the future looks bright for the global APC market. Additionally, technologies such as big data analysis, cloud computing and industrial automation will play an important in ushering success for the market in the forthcoming years. Advanced big data analytics helps in data virtualization using cloud technology. Data virtualization helps in data integration by retrieving and manipulating data collected from various nodes, tiers, and clusters of industrial machines. Industrial processes are being revved up by leveraging data analytics. Manufacturers, investing in APC systems are likely to reap the benefits of improved data management and analysis capabilities in the years to come.
By type, the multivariable model segment currently command for the dominant share of the market and is expected to exhibit a relatively higher CAGR during forecast period 2017-2023. Multivariable model predictive control systems are extremely efficient and mainly used in specialized controls for energy plants and petroleum refineries. It is also being rapidly adopted in oil & gas chemical, and petrochemical processing plants.
By revenue source, the software segment in expected to remain highly lucrative in 2018 and beyond. During the review period, the segment is set to witness a double-digit CAGR. Relentless advancement in software and coding has led to development leading-edge software modules for APC that facilitate greater control and optimization of process manufacturing.
By application, the oil & gas industry segment is expected to retain its leading position over 2023. The oil and gas industry is among the early adopters of process control solutions. The oil & gas industry account for major percent of the overall market revenue. The changing regulatory framework makes process control systems an obligatory solution for the oil & gas sector. Furthermore, APC system also aiding the industry in bringing down production, transportation, and gasification costs. The oil & gas application segment is projected to post 12% CAGR during the forecast period.
Asia Pacific is the largest market for advanced process control followed by North America and Europe. Boom in the manufacturing sector in APAC has augured well for market players operating in the region. China’s unchallenged leadership in manufacturing makes it a prime destination for players plotting to expand operations in the region. Apart from China, Australia, South Korea and India are other bright spots in Asia Pacific. Local policies makers are stepping up efforts to industrialization, which expected reflect favourably on the region’s market. North America holds the second spot in the global advanced process control market. The region’s dominance over the technology sector and presence of a robust manufacturing industry in the U.S. is having a positive impact of the North America APC market.
Some of the key players operating in the global advanced process controls market include Aspen Technology, Inc., General Electric Co., Rockwell Automation, Inc., Schneider Electric SE, Yokogawa Corporation, ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Rudolph Technologies, Inc., and Siemens AG.
Global Advanced Process Control Market: Competitive Landscape
The market for Advanced Process Control has attracted a number of industry giants, which include ABB Ltd., Honeywell International Inc., Siemens AG, Emerson Electric Corporation, Aspen Technology Inc. to name a few, who have collectively accounted for more than 51% of the market share of the global market, in 2017. These companies continue to retain their global presence through expansion, merger & acquisition, and extensive product portfolio.
In 2017, ABB Ltd. was the leading player in the market. The company pursued a strategy of product and technology innovation in close collaboration with the end-users by focusing on specialties and system solutions. ABB offers multivariable model predictive control (MPC) and inferential modeling platform to provide better process control and faster disturbance rejection to diverse end-use industries such as oil & gas, petrochemicals, cement and pulp & paper. The company has a strong global presence with close to 1,32,000 working employees. The company has strong corporate as well as government network worldwide, which facilitates in expanding their business as well as in strengthening their market position. This is in line with its strategy of optimizing its product portfolio and structures, according to different regional markets and trends.
Honeywell International Inc. held the second position in terms of market share, in 2017. Honeywell is a well-established multinational conglomerate, offering a wide range of products & services including aerospace products & services, turbochargers, energy efficient product solutions for home and businesses, specialty chemicals, and process technology for petrochemical refineries. The company has around 150 R&D institutes & centers around the globe and has 22,000 engineers working for them globally. For advanced process control, the company offers “OptiComp” software which works as model predictive control, regulatory control, and inferential control solution and predominantly serves oil & gas and petrochemical industries. The company is investing extensively in research & development activities to develop effective solutions to meet the consumer demand.
Siemens AG is a leading technology provider specialized in electrification, automation, and digitalization, acquiring the third spot in terms of market share. Siemens operates through the following reportable - Wind Power and Renewables, Energy Management, Building Technologies, Mobility, Digital Factory, and Process Industries & drives. The company has 3,51,000 working employees around the globe. Based on Advanced process control, the company offers model-predictive multivariable controller and serves refineries, petrochemical, oil & gas, chemical, and pharmaceutical industries. Furthermore, they are continuously acquiring and merging with technology companies to improvise their expertise with innovation. This also increases their physical strength which further is expected to impact the company’s sustainable growth positively.
Emerson Electric Corporation is one of the most competitive players in this market and a leading manufacturer of process control systems, valves, and analytical instruments. Other than the U.S., the company operates through their offices located in China, India, Latin America, and Southeast Asia. The company has focussed on the execution of its strategies without losing focus on its key areas. Emerson focuses on leveraging its investments, technical expertise, and resources to build a strong market position. The company sees its key strategy as focusing on expanding its manufacturing capabilities to enhance efficiency and create new products. With a strong research & development team, they are building a firm market position by expanding their product portfolio, aiming to increase their customer base globally. Furthermore, they are enhancing their corporate network by expanding their business to the untapped geographies and alsocollaborating with industry experts to innovate products that are at par with the customer requirements.
Aspen Technology Inc. stands the 5th position in the global advanced process control market. Aspen is leading supplier of asset optimization software that optimizes process manufacturing for energy, chemicals, engineering & construction and other industries. The company offers solutions that help to streamline engineering, manufacturing, and supply chain operations. They have been modernizing the field of process modeling, simulation, and optimization. Company’s specialties include asset optimization, asset performance management, machine learning, predictive & prescriptive analytics, and process simulation & modeling, advanced process control, planning & scheduling, manufacturing operations, supply chain management, and digital transformation. The company seeks to identify a new and innovative way to create values and improve customer experiences. The company emphasizes on acquiring other companies, developing innovative approaches, like alliances and partnerships to grow further in the existing market. The company is a global organization and executes significant efforts to grow in the current market.
The global Advanced Process Control market is characterized by the presence of global, regional, and local vendors. The market is highly competitive with all the players competing to gain a larger market share. Increasing competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are the key factors challenging the market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is important for the vendors to provide cost-efficient and high-quality product and services, in order to survive and succeed in a rigorously competitive market environment.