Press release
Advanced Process Control Software Market Size and Forecast Report to 2025 - Future Growth with Current Trends Analysis
This exclusive report will provide you with the market size and forecast (US$ Mn) for the global market and its segments for the period from 2015 to 2025 along with the growth rate (CAGR) from 2017 to 2025, considering 2016 as base year. In addition, drivers, restraints and opportunities, competitive landscape have also been covered under the current proposed table of contents, which will in due course help you to take strategic decisions with respect to the market.
Advanced process control is an optimization and control system technology with deployment of extensive range of methods and processes within the control systems of industrial processes. Some of the major recompenses of advanced process control softwares are development in operational understanding, reduction in power consumption, lessening of process completion time, enhanced process safety, improved equipment reliability, and increased production capacity. These characteristics of advanced process control software are estimated to propel the employment of the applications in various industry verticals.
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Rise in demand for production of energy efficient processes is a primary driver of the global advanced process control software market. In addition to this, increase in demand for advanced process control software to detect and predict any probable failure along with improvement of data accuracy to boost the performance of the system are accelerating the growth of the advanced process control software market. However, reluctance of start-up companies in using advanced process controllers in place of traditional processes due to insufficient capital cost is anticipated to act as a restraint to the advanced process control software market.
The advanced process control software market can be segmented based on component, industry, end-user, and region. On the basis of component, the advanced process control software market can be divided into software and services. The software segment is further divided into advanced regulatory control, inferential control, sequential control, compressor control, and multivariable model predictive control software, while, the services segment can be further classified into operation and maintenance services, consulting services, and training services. Based on industry, the global advanced process control market can be bifurcated into oil & gas, power, chemicals, pharmaceuticals, petrochemicals, food & beverage, and others. Oil & gas along with the chemical industry are estimated to dominate the global advanced process control software market due to the extensive applications of advanced process control software in these industries. The end-user segment of the advanced process control software market includes large, small, and medium-scale enterprises. Large-scale enterprises are estimated to constitute a major revenue share of the global advanced process control software market due to their rising investments, whereas, increasing awareness of advanced process control software among middle and small-sized enterprises is further supporting the growth of the SME’s in the market.
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Based on region, the global advanced process control software market can be segmented into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). North America is estimated to presently dominate the advanced process control software market, in terms of revenue, followed by Europe. North America has well-established infrastructure that enables higher penetration of the advanced process control software market in the region, ultimately providing enhanced production processes. This is anticipated to be a key factor propelling the advanced process control software market in the region. APAC is also expected to exhibit lucrative business opportunities for the key players operating in the advanced process control software market during the forecast period due to rise in industrialization in the region.
The global advanced process control software vendors in the market are increasingly focusing on the development and introduction of software that enables optimization of industrial processes and require minimum power consumption. In order to achieve this, companies are increasing their budgets for R&D. ABB Ltd., Schneider Electric SE, Aspen Technology, Inc., Honeywell International, Inc., General Electric Co., Yokogawa Electric Corp., Rockwell Automation, Inc., Emerson Electric Co., Rudolph Technologies, Inc., and Siemens AG are some of the major players in the global advanced process control software market. The advanced process control software enterprises are also focusing on modifying their pricing models to strengthen their position in the global advanced process control software market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
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The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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