Global Advanced Process Control Market Expected to Reach $1779.8 Million by 2023 | Top Players: ABB, ASPEN TECHNOLOGY, EMERSON ELECTRIC, GENERAL ELECTRIC, HONEYWELL INTERNATIONAL, ROCKWELL AUTOMATION, RUDOLPH TECHNOLOGIES

The Advanced Process Control Market was valued at USD 1050.24 million in 2017, and is expected to value at USD 1779.8 million by 2023 at a CAGR of 9.19%, over the forecast period (2018 - 2023). The different types of advanced process controls considered in our scope include, advanced regulatory control, multivariable model predictive control, inferential control, sequential control, and compressor control.

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Oil & Gas is the largest sector in the global market, with the largest market share in 2016. High adoption rate of automation and critical nature of operations in the industry, are supporting the demand for advanced process control. With the dip in oil prices in the recent years, the industry is now focusing on improving efficiency and deferring investments from new projects to existing infrastructure development. Companies, in the industry, are adopting advanced-solution providing, while offering enhanced efficiency, thus, driving the revenue growth. While, the industry is witnessing a slowdown in growth, increasing demand for energy globally is driving investments from the sector, with some companies predicting the demand to peak within next 15 years. Changing dynamics in the oil industry, with a shift toward ocean-floor exploration, is creating a need for advanced process-control operations in new projects. With safety and control being the primary focus areas in the industry, investments in upgrading the existing automation systems is further influencing the demand for advanced process control. However, the dynamic nature of the industry and low industry confidence, can hamper investments in new technologies, over forecast period.

Key Developments
• July 2017 - Schneider signed an agreement to acquire Asco Power Technologies, a leader in the Automatic Transfer Switch market, for USD 1250 million, in an all-cash transaction. The acquisition enhanced Schneider Electric’s EcoStruxure Power Platform in key markets and segments.
• July 2017 - ABB completed the acquisition of B&R, the largest independent provider focusing on the product and software-based, open-architecture solutions for machine and factory automation worldwide.
• June 2017 - GE launched New Solutions Purpose Built for Industrial Assets. GE Digital launched an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax, which is company's cloud-based field service management solution, with its intelligent Asset Performance Management portfolio, to develop service operations, reduce costs, and eliminate unplanned downtime.

The major players include –
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 ELECTRIC CORP. amongst others.

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Increasing Demand for Automation Solutions across Various Industries
To remain productive and competitive, manufactures are adopting creative and energy efficient methods to improve the business-development model. The seamless integration of hardware and software is enabling manufacturing industries to reduce wastage, lower accident rates, and produce robust and accurate products profitably. Automation is becoming an integral part of the modern manufacturing and industrial operations. Maintaining a consistency in the quality and efficiency in production has led to major manufacturers and industry players investing in the adoption of the automated solutions to enhance the overall performance of the enterprise. Automation solutions optimize the productivity and efficiency of the various stages of production. Network intelligence is well developed and widely adopted. Furthermore, to ensure a smooth and efficient business model, major industries are integrating advanced process controls to their automation models. Additionally, major players like ABB, are investing significantly in the development of automation solutions, to satisfy the rising demand across various end-user industries.

Advanced Regulatory Control to hold a Major Share of the Market
Advanced regulatory control is the foundation of the advanced process control systems. Rapid industrialization and the increasing demand for intelligent and more accurate functional systems is boosting the advanced regulatory control system market. Advanced regulatory controls incorporate knowledge of process dynamics, constraints, and disturbances. With industrial sector considering the increase of capacity and process efficiency in industries, there is a growth in consumption. Advanced regulatory control systems also improve value resolution, eliminate limit cycles, compensate for dead time, improve process linearity and threshold sensitivity, and optimize process operations of the entire systems. Advanced regulatory control is used as a low cost and quick solution for simple optimization problems in advanced process control market. This is supporting the consumption among existing and upcoming industries. Advanced regulatory control systems are applied in various industries in order to define the product and its quality, measurement for evaluation, boundaries of the process, measurement of online-operation, and develop control strategies. With strict regulations governing the operational quality and safety, ARC has become one of the widely consumed technology.

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