Advanced Process Control Market Projected to Grow from USD 2.44 Billion in 2024 to USD 4.89 Billion by 2029, at a CAGR of 8.14% | Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Global Advanced Process Control (APC) Market.
The Advanced Process Control (APC) market is projected to be valued at USD 2.44 billion in 2024 and is anticipated to grow to USD 4.89 billion by 2029. This growth represents a compound annual growth rate (CAGR) of 8.14% over the forecast period from 2024 to 2029.
Advanced Process Control (APC) refers to specialized tools and techniques designed to optimize and manage complex industrial processes, including power generation, chemical processing, and manufacturing. The primary objectives of APC are to enhance operational efficiency, productivity, quality, security, and environmental sustainability. By utilizing sophisticated algorithms and models, APC provides a more advanced level of process management compared to traditional control systems.
While the concept of APC has existed for over three decades, its importance has grown significantly as industries worldwide increasingly prioritize process optimization. With rising complexity in industrial processes, manual control by operators has become more challenging, driving the adoption of APC. The integration of cutting-edge technologies such as the Internet of Things (IoT), big data analytics, and artificial intelligence (AI), which are key components of Industry 4.0, is now a critical aspect of modern industrial systems. Many countries are already embracing Industry 4.0 to modernize their production capabilities.
Government-led initiatives aimed at promoting automation are expected to further drive the development of new technologies, innovation, and production centers. Policies that support the adoption of AI, IoT, blockchain, and robotics in manufacturing are creating a favorable environment for business expansion and global investment. These factors are contributing to a positive outlook for established companies in the APC space, leading to rising demand for advanced process control solutions.
The industrial sector is increasingly seeking ways to boost production efficiency, driven by the growing need for energy conservation and reduced greenhouse gas emissions. APC solutions play a key role in reducing operational costs and enhancing sustainability by optimizing energy consumption and minimizing waste. This heightened focus on energy efficiency across sectors such as oil and gas, chemicals, and power generation is expected to create new market opportunities for APC.
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Oil and Gas Sector Drives Growth in Advanced Process Control Market Amid Rising Automation and Efficiency Focus
The oil and gas industry is expected to command a significant portion of the advanced process control (APC) market, largely due to its high rate of automation adoption and the complex nature of its operations.
In response to the sharp decline in oil prices last year, the industry's focus has shifted toward optimizing efficiency and delaying investments in new projects, instead concentrating on maximizing the potential of existing infrastructure. To drive revenue growth with limited capital investment, companies are increasingly turning to solutions like APC, which offer long-term advantages such as enhanced efficiency and cost reduction. Oil firms continue to seek advanced systems that lower expenses while boosting profitability and increasing annual production output.
OPEC reports that global demand for crude oil, including biofuels, reached 102.21 million barrels per day in 2023, with projections indicating this could rise to over 104 million barrels per day by year-end. As oil demand accelerates, the adoption of advanced process control systems is anticipated to grow, aligning with the sector’s ongoing pursuit of greater efficiency and profitability throughout the forecast period.
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Key Players:
- 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
- Yokogawa Electric Corp.
Advanced Process Control Market News
- April 2024 - Siemens launched its next-generation SIMATIC PCS neo V4.0, a web-based distributed control system designed to simplify engineering and improve the flexibility of process operations in industries like chemicals and pharmaceuticals. The system focuses on increased collaboration and efficient project execution, enabling process automation advancements.
- March 2024 - Honeywell introduced its Forge Energy Optimization technology, aimed at improving energy efficiency in industrial plants. This AI-powered solution is designed to continuously monitor energy consumption, identify inefficiencies, and provide actionable insights to reduce energy usage across various sectors, including oil and gas, chemicals, and manufacturing.
- January 2024 - Emerson unveiled its Plantweb™ Optics, an advanced analytics platform that integrates with existing control systems to provide real-time insights and predictive analytics for process optimization. This tool focuses on enhancing decision-making and operational efficiency by identifying potential issues before they occur in industries like oil refining and chemical processing.
Advanced Process Control Industry By Region
The Advanced Process Control (APC) market is analysed across key regions, including North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to lead the global APC market, driven by the construction of new power plants, a robust semiconductor manufacturing sector, and increasing demand for industrial automation. The region’s dominance is further bolstered by its leadership in nuclear energy production, with the highest installed capacity globally. The U.S., with 99 nuclear reactors spread across 31 states, generates approximately 20% of its electricity from nuclear power. The demand for APC systems is increasing as they enhance the reliability and efficiency of nuclear power plants, with new reactors projected to come online by 2021.
Europe represents the second-largest market for APC systems, with significant adoption across industries such as chemicals, pharmaceuticals, pulp and paper, and oil and gas. Germany is a key player, with its advanced process control systems widely used in its thriving chemical industry, which includes nearly 1,700 domestic and international companies represented by the German Chemical Industry Association (VCI). The German market holds the largest share in Europe, while the UK is noted as the fastest-growing market in the region.
In the Asia-Pacific region, the APC market is expected to experience rapid growth between 2023 and 2030. The expansion of industries such as paints and coatings, pharmaceuticals, and chemicals, particularly in emerging economies like China and India, is a key driver of market growth. China’s healthcare sector is highly competitive, with over 4,000 pharmaceutical companies operating, contributing to the strong demand for APC solutions. China holds the largest market share in Asia-Pacific, while India is recognized as the fastest-growing market in the region.
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Market Segments:
By Solution:
- Integrated Advanced Process Control (APC) Platform
- Standalone Software
- Asset Performance Management Software
- Operational Risk Management (ORM) Software
- Production Management Software
- Others (EMS software, SPC software)
By Deployment:
- SaaS-based
- On-Premises
By End-Use Industry:
- Semiconductors
- Etch and Deposition Processes Control
- Photolithography Process Control
- Wafer Inspection and Defect Detection
- Pharma/biotech
- Bioprocess Control
- Batch and Continuous Manufacturing
- Cleaning and Sterilization Processes
- Medical Device Manufacturing
- Automotive
- EV Battery Manufacturing
- Defect Detection
- Quality Control
- Machining and Assembly
- Predictive Maintenance
- Military & Defense
- Weapon Systems Production
- Military Communication Systems
- Munitions Production
- Electronics and Electrical
- PCB Assembly
- Electrical Equipment Manufacturing
- Automated Inspection
- Power Electronics Manufacturing
- Energy and Utilities
- Power Generation
- Renewable Energy
- Water and Wastewater Treatment
- Others (Chemicals, Food & Beverages, other manufacturing)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Quantitative Analysis -
- Market size, estimates, and forecasts from 2024 - 2032
- Market size and revenue estimates for products up to 2032
- Market revenue estimates for application up to 2032
- Market revenue estimates for type up to 2032
- Regional market size and forecast up to 2032
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