Advanced Process Control Size is Projected to Reach US$ 2.35 Billion by 2027, Industry CAGR 8.20% | IMARC Group

 According to IMARC Group’s latest report, titled “Advanced Process Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global  advanced process control market size reached US$ 1.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.35 Billion by 2027, exhibiting a growth rate (CAGR) of 8.20% during 2022-2027.

Advanced process control represents a set of model-based software and sophisticated technologies that are implemented in several industries to maximize operational efficiency. They are available in multiple types, such as multivariable model predictive control (MPC), advanced regulatory control (ARC), and nonlinear MPC, and mostly include digital control units and online sensors. Advanced process control systems facilitate enhanced production capacity and equipment reliability, ensure automated data collection, and monitor process parameters while consuming minimal energy. They assist business enterprises in optimizing manufacturing operations, solving multivariable control problems, reducing disruption, catering process control system requirements, and improving productivity. Consequently, advanced process control solutions find widespread applications across numerous sectors, including oil and gas, petrochemical, food and beverage (F&B), pharmaceutical, chemical, energy and power, paper and pulp, etc.

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Advanced Process Control Market Trends:

The expanding need for efficient automation solutions across various end-use industries to reduce human errors and risks of accidents and enhance safety is primarily driving the advanced process control market. In addition to this, the elevating concern about industry-generated emissions, especially from the oil and gas segment, is acting as another significant growth-inducing factor. Furthermore, the escalating technological advancements and the growing integration of process analytical technology (PAT) to equip workers with online and offline model building, verification, and data analysis tools for enabling the precise performance of industry-related tasks are also positively influencing the global market.

Apart from this, the increasing usage of the technology to allow instant modification in production operations is further augmenting the market growth. Moreover, the rising number of strategic collaborations among the key market players and the inflating investments in research and development (R&D) activities to introduce energy-efficient process controlling systems are anticipated to bolster the advanced process control market over the forecasted period.

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Advanced Process Control Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the advanced process control market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • ABB Ltd.
  • Aspen Technology Inc.
  • Azbil Corporation
  • Emerson Electric Co.
  • FLSmidth & Co. A/S
  • General Electric Company
  • Honeywell International Inc.
  • Onto Innovation
  • Panasonic Corporation
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • and Yokogawa Electric Corporation.

Key Market Segmentation:

The report has segmented the advanced process control market on the basis of component and end use industryl.

Breakup by Component:

  • Software
  • Service

Breakup by End Use Industry:

  • Oil and Gas
  • Petrochemical
  • Pharmaceutical
  • Food and Beverage
  • Energy and Power
  • Chemical
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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