The global Advanced Process Control Software Market is estimated to be valued at US$ 1.88 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Advanced process control (APC) software is used to optimize process performance in several industrial processes such as oil & gas, chemicals, power, and other process industries. APC software helps control critical process variables with minimal operator intervention, providing substantial economic and technical benefits.
Market key trends:
One of the major trends in the advanced process control software market is the growing adoption of advanced software for batch processing applications. Batch processing accounts for about 40% of all industrial production, including pharmaceuticals, chemicals, foods, and others. APC software helps optimize batch processes by improving yield, reducing variability, and enhancing process consistency. This results in higher profits through improved throughput, reduced waste, lower operating costs, and better product quality for industries involved in batch manufacturing.
Segment Analysis
The global advanced process control software market is segmented into MPC, DCS, SCADA, HMI, MES, and PLC. The MPC segment is expected to dominate the market owing to its ability to optimize plant or process operations. MPC delivers enhanced process control by linking process models directly to plant operations. It is capable of handling multi-variable constraints to help improve process performances.
Key Takeaways
The Global Advanced Process Control Software Market Share is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period, due to increasing need for process optimization and productivity across various industries.
Regional analysis
North America is expected to dominate the advanced process control software market during the forecast period. This is attributed to significant presence of manufacturing industries and early adoption of industrial automation solutions in the region. Asia Pacific is expected to show highest growth in the market owing to rapid industrialization, growing manufacturing sector, and rising investments for industrial automation across major Asian economies.
Key players analysis
Key players operating in the advanced process control software market are Yokogawa, General Electric, Rockwell Automation, MAVERICK Technologies, Emerson, Siemens, Rudolph Technologies, Honeywell International, ABB, Schneider Electric, and Aspen Technology. The global advanced process control software market is highly competitive with major players adopting strategies like partnerships, product innovations, and mergers & acquisitions to expand their market share.
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