Advanced Process Control Software Market

Date: 11/23/2015

Global Advanced Process Control Software Market in Chemicals Industry 2016-2020

The Global Advanced Process Control (APC) Software Market in Chemicals Industry to Grow Steadily At A CAGR Of 7% over the Period 2016-2020

  • Published by: Technavio / Infiniti Research Limited
  • Posted on: November 18, 201
  • Report SKU: IRTNTR7993

About APC Software

APC software is an integrated tool used to increase the efficiency of process management and plant operation. Several organizations across various process industries such as the Chemical, Oil and Gas, Petrochemical, Power, Pharmaceutical, Pulp and Paper, and Food and Beverage industries use APC software to enhance organizational productivity. Effective deployment of APC software enables organizations to reduce downtime and increase the productivity of the industrial plant. Furthermore, it enables them to optimize their resource utilization.

Market Outlook for the APC Software Market in the Chemicals Industry

Technavio’s market research analyst predicts the global APC software market in chemicals industry to grow steadily at a CAGR of around 7% during the forecast period. The rising investments in the US chemical industry is expected to drive the market growth during the forecast period. The economic recovery in the region has boosted the sale of light vehicles, appliances, and construction materials. The automotive and real estate sectors are the major end-user markets for chemicals in the US. For instance, during 2015, nearly 215 new chemical production projects with a market value of around USD 135 billion were started to cater to the rising demand from end-user industries.

The lack of skilled workforce that can develop and operate statistical and optimization models and integrate APC software with legacy automation systems is anticipated to pose challenges to the market growth during the forecast period. The use of APC technology is man power intensive and also requires extensive technical and domain knowledge.

Geographical Segmentation and Analysis of the APC Software Market in the Chemicals Industry

  • Americas
  • APAC
  • EMEA

APAC accounted for around 43% of the market share during 2015. The growth of the chemical industry in this region has led to a high adoption of the software, driving the market growth. For instance, companies such as Sinopec, based in this region APAC, uses Honeywell’s Profit Suite R400, an APC software, in their chemical production facilities, to achieve high production values through greater flexibility and efficient operations.

Competitive Landscape and Key Vendors

The market is dominated by large international vendors. Small and medium vendors do not exist in the market because operations in the chemical industry are complex and critical, which require skilled labor and heavy investments. The competitive environment in this market is likely to intensify during the forecast period due to product extensions and technological innovations.

The leading vendors in the market are –

  • ABB
  • Honeywell
  • Schneider Electric
  • Siemens

Other prominent vendors in the market include Aspen Technology, GE, Rockwell Automation, and Yokogawa Electric.