Advanced Process Control
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What Will the Advanced Process Control Industry Market Size Be by 2025?
The size of the advanced process control market has seen significant growth lately. The market, which is projected to increase from $20.18 billion in 2024 to $22.13 billion in 2025, boasts a compound annual growth rate (CAGR) of 9.7%. This upward trend during the historic period is linked to the emergence of industrial automation, emphasis on energy efficiency, industry guidelines and benchmarks, escalating intricacy in industrial operations, and focus on cost and operational effectiveness.
What’s the Long-Term Growth Forecast for the Advanced Process Control Market Size Through 2029?
Expectations are high for the advanced process control market to exhibit substantial growth in the coming years, reaching a valuation of $32.31 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%. This projected expansion during the forecast period is largely driven by factors such as the need for real-time process monitoring and control, growing cybersecurity threats and corresponding solutions, an emphasis on predictive maintenance, customizability and scalability, and the increasing demand for energy efficiency. Some key trends predicted for the forecast period include the use of advanced analytics for predictive maintenance, the rising popularity of cloud-based APC solutions, the surge in industrial automation, the application of edge computing in control systems, a focus on interoperability and open standards, as well as remote monitoring and home-based care.
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What Are the Key Growth Drivers Fueling the Advanced Process Control Market Expansion?
The burgeoning need for automation solutions is anticipated to fuel the expansion of the advanced process control market. Automation is a technology that requires minimal human intervention to perform tasks. Industry frontrunners use Process Automation Systems (PAS), especially advanced process control (APC) systems, to reduce complexity and enhance efficiency, reducing the need for human operators and boosting profits in an ever-evolving environment. APC is an upgraded process automation system that offers added value, hence the escalating demand for automation solutions will fuel the growth of the advanced process control market. For instance, a report from the International Data Corporation (IDC) disclosed that the spending on IoT products and services in Australia and New Zealand alone will exceed $16 billion in 2022, a 13% increase from 2021. Consequently, the surge in automation requirements is propelling the growth of the advanced process control market.
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What Are the Key Trends Driving Advanced Process Control Market Growth?
Leading firms that participate in the advanced process control market are creating innovative technological strategies, such as digital twin technology, to simultaneously achieve minimal energy consumption and superior operational procedures. The concept of digital twin technology demystifies a physical object or system through a virtual model, offering critical analysis, real-time data, and simulations for better understanding and decision-making purposes. A notable example of this happened in February 2022 when ABB, a Swiss company that provides electrical accessories and automation products, rolled out the ABB Ability Smart Solution for Wastewater. This digital solution is formulated to tackle problems prevalent in wastewater treatment facilities. The strategy uses advanced process control (APC) and digital twin technology to refine operating conditions, reduce process changeability, and ensure operational stability.
How Is the Advanced Process Control Market Segmented?
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 Companies Are Leading the Charge in Advanced Process Control Market Innovation?
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
Which Regions Are Leading the Global Advanced Process Control Market in Revenue?
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
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