The Advanced Process Control Market Is Expected to Reach $1,465.62 Million by 2020, At A CAGR of 11.79% From 2014 To 2020

Advanced Process Control Market by Oil and Gas, Petrochemicals, Water and Wastewater, Chemicals, Power, Paper and Pulp, Pharmaceuticals, and Food Applications

• Published by: MarketsandMarkets
• Publishing Date: January 2015
• Report Code: SE 3006

Advanced process control (APC) encompasses a broad range of sophisticated technologies and tools that are used to optimize plant performances across a range of applications.  It is used to optimize plant performance and stabilize plant operations by minimizing the fluctuations of key process variables. Today, APC technology is available all across the globe and is being increasingly used in new applications apart from its conventional use in oil & gas and petrochemical industry.

Advanced process control has several advantages like improved production capacity, minimized power consumption, lower feedstock variability to downstream units, better analysis and modification of operating objectives as per new requirements, improved monitoring of key performance indicators, increased process safety, reduction in process setting time, increase in equipment reliability, and better operational understanding of the entire plant over conventional process control technology. Use of advanced process control software allows monitoring of process parameters at a granular level as compared to normal process control technology. This allows for better monitoring of process parameters and helps in predictive maintenance of the system. With more stability, all plant equipment can be operated efficiently, leading to an increase in the production capacity and thus, plant profitability. However, these economic benefits can only be sustained by periodic maintenance and up-gradation of the system. In fact, APC services form the major revenue source for advanced process control vendors.

This report describes the market trends, drivers, and challenges for the advanced process control market and forecasts the market from 2014 to 2020 on the basis of revenue generator, applications, and geography. The factor which is driving the advanced process control market includes rising demand for energy efficient production process, safety and security concern, and demand for a software system which can predict the failure at the component level.

The advanced process control market is expected to increase at a CAGR of 11.79% from 2014 to 2020. Oil and gas industry is the major application market of advanced process control. It accounts a market share of ~30% during 2013 and is expected to grow at a CAGR of 12.81% from 2014 to 2020. With the development of shale gas, it has become important to implement advanced process control systems which can help in minimizing the capital expenditure, operating expenditure, and any other negative impact on the environmental by automating the entire production process. Implementation of advanced process control can virtually eliminate the involvement of human and thus it reduces the risk of safety at production floor. APAC dominates the advanced process control market in terms of revenue generation with a highest market share of ~26% in 2013; growing at a CAGR of 11.85% from 2014 to 2020. India and China market with regards to market accounts a collective market share of ~54% during 2013.

The major players involved in the development of advanced process control market include: ABB Ltd. (Switzerland), Aspen Technology, Inc. (U.S.), Emerson Electric Co.  (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Rudolph Technologies, Inc. (U.S.), and Schneider Electric SE (France).