IMARC Group, a leading market research company, has recently releases report titled “Advanced Process Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global advanced process control market share, size, growth, trends and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. The global advanced process control market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
What is Advanced Process Control?
Advanced process control (APC) is a set of sophisticated control techniques and strategies used in industrial processes to optimize and improve performance. It involves the use of advanced mathematical algorithms, model-based control, and real-time data analysis to achieve tighter control over complex processes and enhance efficiency, quality, and safety. It aims to maximize the efficiency of industrial processes by optimizing key variables and parameters. It can improve product consistency and quality by maintaining tighter control over critical process variables. It helps stabilize process variables and prevents the occurrence of oscillations or fluctuations that can lead to process disturbances and quality issues.
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Global Industry Trends and Drivers:
The increasing use of APC in the oil and gas industry to optimize the operation of refineries and petrochemical plants and control variables such as temperature, pressure, and flow rates represents one of the primary factors supporting the market growth around the world. Moreover, the rising adoption of APC in the food and beverage (F&B) industry to improve processes like fermentation, distillation, and pasteurization and ensure consistent product quality, increase production yield, and reduce downtime is contributing to the market growth. Besides this, the growing usage of APC in the mining industry to maximize resource recovery and minimize energy consumption and environmental impact is influencing the market positively.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Component:
- Software
- Service
Breakup by End Use Industry:
- Oil and Gas
- Petrochemical
- Pharmaceutical
- Food and Beverage
- Energy and Power
- Chemical
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
ABB Ltd., Aspen Technology Inc., Azbil Corporation, Emerson Electric Co., FLSmidth & Co. A/S, General Electric Company, Honeywell International Inc., Onto Innovation, Panasonic Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Yokogawa Electric Corporation.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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