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Advanced Process Control (APC) Market Movements by Trend Analysis, Growth Status and Revenue Expectation Forecast to 2026
Advanced Process Control (APC) Market
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According to the report, in 2017 the global advanced process control market was led by Asia Pacific. Additionally, Asia Pacific is expected to lead the global market during the forecast period 2018-2025. Demand emanating from developing nations such as India and China is anticipated to considerably aid the Asia Pacific advanced process control market's expansion. The growth witnessed is attributable to the rapid development of industries in India. Moreover, the impressive growth in the manufacturing and chemical industry in China is anticipated to generate a high demand for advanced process control software and devices. Besides this, during 2016-2017, the manufacturing industry in China was valued at US$ .4 Tn and the growth curve is forecast to scale higher in the coming years. This is anticipated to propel the growth of the Asia pacific advanced process control market during the forecast period.
North America and Europe are also among the leading regions in the global advanced process control market. These regions held a significant share in the global market in 2017. North America and Europe are expected to witness impressive growth during the forecast period. The growth witnessed is attributable to an increasing number of manufacturers in the regions.
Some of the companies operating in the global market are ABB Ltd., Rudolph Technologies Inc., General Electric Co., AVEVA Group plc, Aspen Technology, Inc., Yokogawa Electric Corp, Rockwell Automation Inc., Emerson Electric Co., Honeywell International Inc., Schneider Electric Se, and Siemens AG.
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"OptiComp Launched by Honeywell International Inc. to Boost its Competitive Strength"
The competition among players in the global advanced process control market is getting fiercer. In order to remain competitive some of the key players are strategizing to partner, collaborate, and acquire other firms. This is also intended to strengthen its market position. Players are also emphasizing on developing the APC software with advent features. For instance, Honeywell International Inc. launched OptiComp in 2017, for the advanced process control solution.
"Machine Learning Integration in APC Software to Drive Market"
"Advanced process control software developers are focusing on integrating machine learning in the APC software. This is anticipated to fuel the demand in the global advanced process control market," said a lead analyst at Fortune Business Insights.
Distinctive features of the advanced process control software such as it offer higher operations efficiency and automated data collection and analysis are anticipated to drive the global advanced process control market. Additionally, incessantly rising consumer need and demand will lead to mass manufacturing, subsequently generating high demand for advanced process control devices and software.
Rapid technological developments in advanced control process software are likely to propel growth in the global advanced process control market. For instance, ABB Ltd. launched the Process Analytical Technology model with the focus to decrease the duration of the process and increase overall productivity. The model is enabled with advanced modeling platform and multivariable standard predictive control to offer enhanced trouble rejection and process control.
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