Press release
Advanced Process Control Market Poised for 10 % Growth, Set to Hit $32.31 Billion by 2029
Advanced Process Control Market Outlook
The increasing need for automated solutions is set to spur the expansion of the advanced process control market. Automation, a technology that relies less on human intervention to finish jobs, is expected to contribute significantly to this fast-paced market. Industry leaders implement Process Automation Systems (PAS) and advanced process control (APC) systems to reduce complexity, leading to improved efficiency, reduced human interference, and heightened profit margins in an ever-evolving scenario. APC lends an added value to the process automation system. As a result of these factors, the burgeoning requirement for automation is likely to augment the advanced process control market. An illustrative example of this is a report from the International Data Corporation (IDC) which states that expenditure on IoT products and services in Australia and New Zealand alone will exceed $16 billion in 2022, a rise of 13% from 2021. Thus, the expanding need for automation is fuelling the growth of the advanced process control market.
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What Is the projected market size and growth rate for the advanced process control market?
In recent times, the advanced process control market has seen significant growth. It is projected to increase from $20.18 billion in 2024 to $22.13 billion in 2025, with a compound annual growth rate (CAGR) of 9.7%. The expansion during the historical period can be linked to the emergence of industrial automation, emphasis on energy efficiency, industry rules and standards, escalating complexity in industrial procedures, as well as cost reduction and operational efficiency.
Over the coming years, substantial growth is projected for the advanced process control market, with predictions of it soaring to $32.31 billion in 2029, representing a compound annual growth rate (CAGR) of 9.9%. This anticipated surge during the forecasted period can be attributed to various factors such as the need for real-time monitoring and control of processes, the focus on predictive maintenance, customisation and scalability, and the growing requirements for energy efficiency. Key trends to look out for during this period are the use of advanced analytics for predictive maintenance, the adoption of cloud-based APC solutions, the rise in industrial automation, edge computing in control systems, interoperability, open standards, and the shift towards remote monitoring and home-based care.
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What new trends are reshaping the advanced process control market and its opportunities?
Leading firms within the advanced process control market are seeking to combine optimal operational standards with minimal energy usage, achieved through innovative technologies like digital twin technology. This technology creates a digital version of a physical object or system, allowing for real-time analysis, insights, and simulations to augment understanding and improve decision making. A specific example of this is from February 2022 when ABB, a Swiss-based supplier of electrical equipment and automation products, unveiled the ABB Ability Smart Solution for Wastewater. This digital solution, created to address issues in wastewater treatment plants, incorporates both advanced process control (APC) and digital twin technology, aiming to optimize operational conditions by reducing process variability and improving stability.
What major market segments define the scope and growth of the advanced process control market?
The advanced process control market covered in this report is segmented -
1) By Revenue Source: Software, Services
2) By Type: Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control And Compressor Control
3) By End-Use: Oil And Gas, Petrochemicals, Pharmaceuticals, Food And Beverages, Energy And Power, Chemicals, Other End-Uses
Subsegments:
1) By Software: On-Premises Software, Cloud-Based Software, Licensing Fees
2) By Services: Consulting Services, Integration Services, Maintenance And Support Services
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Which region dominates the advanced process control market?
Asia-Pacific was the largest region in the advanced process control market in 2024. North America is expected to be the fastest-growing region in the advanced process control market report during the forecast period. The regions covered in the advanced process control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the advanced process control industry growth?
Major companies operating in the advanced process control market include Schneider Electric, Siemens AG, General Electric, Aspen Technology Inc., Emerson Electric Co., ABB Ltd., Yokogawa India Ltd., Honeywell International Inc., Rockwell Automation Inc., Azbil Corporation., MAVERICK Technologies LLC, SGS SA, Metso Outotec, Mineser GmbH, Cisco, NovaTech LLC, Applied Materials Inc., Dassault Systèmes, SAP SE, Mitsubishi Electric Corporation, Wonderware (Aveva Group), Andritz AG, pirax-Sarco Engineering plc, OMRON Corporation
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What Is Covered In The Advanced Process Control Global Market Report?
• Market Size Forecast: Examine the advanced process control market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the advanced process control market for a structured understanding.
• Key Players Overview: Analyze major players in the advanced process control market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the advanced process control market.
• Segment Contributions: Evaluate how different segments drive overall growth in the advanced process control market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the advanced process control market.
• Industry Challenges: Identify potential risks and obstacles affecting the advanced process control market.
• Competitive Landscape: Review strategic developments in the advanced process control market, including expansions, agreements, and new product launches.
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