Advanced Process Control Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Deployment Methods (On-Premises, Cloud-Based), By Type of Control (Regulatory Control, Multivariable Model Predictive Control (MPC) and Inferential Control), By Industry Vertical (Oil and Gas, Chemicals, Pharmaceuticals, Power Generation, Metals and Mining, Food and Beverage, Wa

Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Advanced Process Control Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Deployment Methods (On-Premises, Cloud-Based), By Type of Control (Regulatory Control, Multivariable Model Predictive Control (MPC) and Inferential Control), By Industry Vertical (Oil and Gas, Chemicals, Pharmaceuticals, Power Generation, Metals and Mining, Food and Beverage, Wa

Forecast Period2024-2028
Market Size (2022)USD 2.21 billion
CAGR (2023-2028)9.1%
Fastest Growing Segment3D Modeling and Animation
Largest MarketNorth America
MIR IT and Telecom

Market Overview

Key Market Drivers

Increasing Demand for Energy Efficiency

Stringent Environmental Regulations

MIR Segment1

Focus on Operational Safety

Key Market Challenges

High Initial Investment Costs

Dearth of Skilled Workforce

MIR Regional

Key Market Trends

Integration of Advanced Process Control with Extended Reality (XR) Technologies

Adoption of Cloud-Based Advanced Process Control Solutions

Emergence of Real-Time Advanced Process Control Workflows

Segmental Insights

Deployment Methods Insights

Type of Control Insights

Regional Insights

Recent Developments

  • In April 2022, Honeywell launched Experion PKS R520, the latest versionof its Experion process knowledge system (PKS) advanced process control andoperational excellence platform. The new version features improved userexperience, advanced modeling capabilities, and integration with HoneywellForge for industrial AI and advanced analytics.
  • In March 2022, Siemens acquired Brightly Software, a leader inartificial intelligence (AI) and advanced analytics for buildings. Thisstrengthened Siemens' position in advanced process control for buildingautomation.
  • In February 2022, Emerson acquired Mita-Teknik, a leading provider ofadvanced process control and optimization software for oil refineries andpetrochemical plants. This expanded Emerson's automation capabilities for theenergy and chemicals industries.
  • In January 2022, ABB launched ABB Ability Genix Industrial AnalyticsSuite, an integrated advanced process control and optimization softwareplatform utilizing AI and analytics.
  • In December 2021, Azbil Corporation launched PRM (Process Risk Manager),an advanced process control system utilizing model predictive controltechnology. It helps improve plant efficiency and safety.
  • In November 2021, Yokogawa Electric Corporation established an AIco-innovation center in India to strengthen joint research on advanced processcontrol using AI and data analytics.
  • In October 2021, Aspen Technology acquired Synapse Wireless, a pioneerin industrial wireless asset monitoring. This added wireless connectivity toAspenTech's process optimization and advanced process control offerings.

Key Market Players

  • Honeywell International Inc
  • Aspen Technology Inc.
  • Siemens AG
  • ABB Ltd
  • Schneider Electric SE
  • Rockwell Automation Inc
  • Rudolph Technologies In
  • Emerson Electric Co
  • Yokogawa Electric Corporation
  •  GeneralElectric Co

By Deployment Methods

By Type of Control

By Industry Vertical

By Region
  • On-Premises
  • Cloud-Based
  • Regulatory Control
  • Multivariable Model Predictive Control (MPC)
  • and Inferential Control
  • Water and Wastewater Treatment
  • Others
  • Oil and Gas
  • Chemicals
  • Pharmaceuticals
  • Power Generation
  • Metals and Mining
  • Food and Beverage
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email