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, Water and Wastewater Treatment, Others), By Region, and By Competition

Market Overview

Global Advanced Process Control Market is on a remarkable growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 9.1% up to 2028, surpassing its 2022 valuation of USD 2.21 billion. This expansion is primarily driven by the pivotal role Advanced Process Control plays across diverse industries, harnessing insights and data from satellites, aircraft, and sensors. By enabling remote data collection and analysis of Earth's surface and atmosphere, this technology empowers businesses to enhance monitoring and assess various parameters with remarkable efficiency.

The surge in demand for Advanced Process Control can be attributed to several key factors. Firstly, industries such as agriculture, forestry, environmental monitoring, and pharmaceuticals increasingly rely on real-time, precise data. This technology provides invaluable information regarding crop health, land use, weather patterns, and natural resource management, thereby revolutionizing decision-making processes.

Additionally, the growing adoption of Advanced Process Control stems from heightened awareness of its transformative advantages and the imperative need for efficient data acquisition and analysis. Businesses now recognize the pivotal role of remote sensing in optimizing operations, reducing costs, and securing a competitive edge.

Furthermore, the global market's growth is underpinned by ongoing advancements in Advanced Process Control. Innovations such as high-resolution imaging systems, refined data processing techniques, and the integration of Artificial Intelligence (AI) and Machine Learning (ML) algorithms elevate the accuracy, efficiency, and reliability of remote sensing data, further fueling market expansion.

Moreover, the burgeoning focus on sustainable development and environmental conservation is poised to amplify the demand for Advanced Process Control. Governments, organizations, and businesses increasingly harness remote sensing data to monitor and mitigate the environmental impact of human activities, underscoring the growing need for robust remote sensing solutions.

In summation, the Global Advanced Process Control Market's extraordinary growth is propelled by factors including the hunger for precise data, relentless technological advancements, and an unwavering commitment to sustainability. As businesses across diverse industries embrace the transformative potential of Advanced Process Control, the market is set to experience substantial expansion in the foreseeable future, reshaping the landscape of data-driven decision-making.

Key Market Drivers

Increasing Demand for Energy Efficiency

The advanced process control market is being driven by the increasing demand for energy efficiency across various industrial sectors such as oil and gas, chemicals, power generation, etc. Advanced process control solutions help optimize processes and operations to reduce energy consumption. They monitor plant operations in real-time and make adjustments to control loops, valves, and other equipment automatically based on pre-defined targets. This improves process efficiency and minimizes wastage. With rising energy costs and focus on sustainability, industries are increasingly adopting advanced process control technologies to enhance productivity while reducing their carbon footprint. The need to maximize yields from existing assets is also propelling the advanced process control market growth.

Stringent Environmental Regulations

Stringent environmental regulations regarding emission control and effluent treatment have boosted investments in advanced process control solutions. Industries are under mounting pressure to curb air and water pollution from their operations. Advanced process control helps achieve consistent environmental compliance by facilitating real-time monitoring of emissions and treatment of effluents. It enables automatic process adjustments to keep pollutants within permissible limits. This has become crucial with governments across the world tightening emission control norms in line with their climate change commitments. Advanced process control effectively helps industries optimize resource usage while meeting stringent quality and safety standards mandated by environmental agencies.

Focus on Operational Safety

Rising focus on plant and personnel safety is another key driver for the advanced process control market. Advanced process control solutions enable industries to reduce safety risks by gaining real-time visibility into operations and responding proactively to deviations. They help detect potential process failures or accidents in a timely manner and initiate corrective actions autonomously. This improves safety and avoids expensive shutdowns. Industries are also investing in advanced process control to reduce the need for on-site monitoring through remote operations. The growing need for operational safety will continue driving the advanced process control technology uptake in the coming years.

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Key Market Challenges

High Initial Investment Costs

One of the major challenges faced by the advanced process control market is the high initial costs involved. The advanced process control solutions require significant capital expenditure on hardware such as controllers, sensors, transmitters, analyzers etc. Their implementation also involves high engineering costs for modeling, configuration, testing and commissioning. Additionally, industries need to incur recurring costs for system maintenance and software upgrades. These high deployment costs make advanced process control solutions unviable for small and medium scale industries. The long payback periods also discourage investments for marginal gains. This high upfront capital requirement poses a major adoption challenge, especially in cost-sensitive developing markets. However, the market players are trying to overcome this by offering pay-per-use and cloud-based delivery models.

Dearth of Skilled Workforce

Another challenge impeding the advanced process control market growth is the lack of sufficient skilled workforce. Advanced process control solutions involve complex technologies like advanced algorithms, modeling, simulation etc. Their implementation and upkeep requires high-level expertise in automation, control engineering, and programming. However, there is a global shortage of professionals with such multi-disciplinary skillsets. Even trained engineers find it difficult to keep pace with the rapid evolution of advanced process control technologies. This skilled manpower crunch restricts industries from leveraging advanced process control solutions to their full potential. It also increases their dependency on expensive external consultants. The market players need to focus on training and re-skilling existing workforce as well as collaborating with educational institutes to develop specialized courses. This will help address the shortage of skilled professionals over the long term.

Key Market Trends

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

One of the prominent trends shaping the global Advanced Process Control market is the integration of Advanced Process Control with Extended Reality (XR) technologies. XR encompasses virtual reality (VR), augmented reality (AR), and mixed reality (MR), and it offers immersive and interactive experiences. By combining Advanced Process Control with XR technologies, businesses can create highly realistic virtual environments and seamlessly blend real and virtual elements. This integration opens up new possibilities for industries such as entertainment, Pharmaceuticals, architecture, and training, where XR-enhanced Advanced Process Control can revolutionize storytelling, design visualization, and immersive training simulations. The convergence of Advanced Process Control and XR technologies is expected to drive innovation and create transformative experiences across various sectors.

Adoption of Cloud-Based Advanced Process Control Solutions

The adoption of cloud-based Advanced Process Control solutions is another significant trend in the global market. Cloud computing offers scalability, flexibility, and cost-effectiveness, making it an attractive option for businesses seeking Advanced Process Control capabilities. Cloud-based Advanced Process Control solutions enable real-time collaboration, remote access to data and resources, and seamless integration with other cloud-based tools and Inferential Control. This trend allows businesses to leverage the power of Advanced Process Control without the need for extensive on-premises infrastructure. Cloud-based solutions also facilitate easier data sharing and collaboration among geographically dispersed teams, enabling efficient workflows and reducing time-to-market. As cloud technology continues to advance and become more accessible, the adoption of cloud-based Advanced Process Control solutions is expected to increase, driving market growth.

Emergence of Real-Time Advanced Process Control Workflows

The emergence of real-time Advanced Process Control workflows is transforming the way content is created and produced. Traditionally, Advanced Process Control involved a sequential process, with pre-production, production, and post-production stages. However, advancements in technology, such as real-time rendering engines and high-performance computing, have enabled real-time Advanced Process Control workflows. Real-time workflows allow for instant visualization and feedback, enabling directors, cinematographers, and other stakeholders to make immediate decisions and adjustments during the production process. This trend reduces the need for extensive post-production work and accelerates the overall production timeline. Real-time Advanced Process Control workflows are particularly beneficial for live events, broadcast, and interactive experiences, where immediate responsiveness and flexibility are crucial. As real-time technologies continue to evolve and become more accessible, the adoption of real-time Advanced Process Control workflows is expected to increase, revolutionizing content creation processes.

In conclusion, the global Advanced Process Control market is witnessing significant trends, including the integration of Advanced Process Control with XR technologies, the adoption of cloud-based solutions, and the emergence of real-time workflows. These trends are reshaping industries and opening new possibilities for immersive experiences, efficient collaboration, and streamlined production processes. Businesses that embrace these trends and leverage Advanced Process Control technologies stand to gain a competitive edge in their respective markets.

Segmental Insights

Deployment Methods Insights

The on-premises deployment method segment dominated the global advanced process control market in 2022 and is expected to maintain its dominance during the forecast period from 2023 to 2030. In 2022, the on-premises segment accounted for the largest market share and held around 60-65% of the overall advanced process control market revenue. The segment's large share can be attributed to the fact that traditionally most industries have preferred to deploy advanced process control solutions on-premises for better control and security over critical process operations. However, the cloud-based deployment method segment is expected to witness the highest growth during the forecast period. This is because cloud-based delivery of advanced process control is gaining popularity as it eliminates the need for large upfront capital investments and provides operational flexibility. The cloud model also enables remote monitoring and management of processes. Nevertheless, the on-premises deployment is likely to remain dominant during the forecast period due to security concerns in completely shifting critical industrial control systems to the cloud. Many industries are expected to adopt a hybrid deployment approach combining on-premises and cloud-based advanced process control.

Type of Control Insights

In 2022, within the Global Advanced Process Control Market, the Multivariable Model Predictive Control (MPC) segment emerged as the dominant force, and it is poised to maintain its stronghold throughout the forecast period. MPC offers a sophisticated and comprehensive approach to process optimization, allowing industries to simultaneously control multiple variables in a dynamic and predictive manner. Its effectiveness in improving process efficiency, reducing operating costs, and enhancing product quality has led to widespread adoption across various sectors such as oil and gas, chemical manufacturing, and pharmaceuticals. The versatility of MPC to adapt to complex and interconnected processes positions it as a preferred choice for industries seeking to maximize their operational performance. Furthermore, as industries continue to emphasize the need for advanced control strategies that provide holistic and real-time insights into their processes, the demand for Multivariable Model Predictive Control is expected to remain robust, ensuring its continued dominance in the Global Advanced Process Control Market in the foreseeable future.

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Regional Insights

In 2022, the North American region emerged as the dominant force in the Global Advanced Process Control Market and is expected to maintain its stronghold throughout the forecast period. North America's dominance can be attributed to several key factors. Firstly, the region is home to a diverse range of industries, including oil and gas, chemicals, pharmaceuticals, and manufacturing, all of which heavily rely on advanced process control to optimize operations and maintain competitive advantages. Secondly, North America boasts a robust technological infrastructure and a high level of adoption of automation and control technologies, making it conducive to the implementation of advanced process control solutions. Additionally, stringent regulatory requirements in sectors such as pharmaceuticals and environmental monitoring have driven the demand for advanced control systems to ensure compliance and maintain product quality. Moreover, the region's commitment to research and development, coupled with ongoing technological advancements in control systems, further cements North America's dominance in the market. As industries in the region continue to prioritize efficiency, productivity, and sustainability, the demand for advanced process control solutions is expected to remain robust, ensuring North America's continued dominance in the Global Advanced Process Control Market throughout the forecast period.

Recent Developments

• In April 2022, Honeywell launched Experion PKS R520, the latest version of its Experion process knowledge system (PKS) advanced process control and operational excellence platform. The new version features improved user experience, advanced modeling capabilities, and integration with Honeywell Forge for industrial AI and advanced analytics.
• In March 2022, Siemens acquired Brightly Software, a leader in artificial intelligence (AI) and advanced analytics for buildings. This strengthened Siemens' position in advanced process control for building automation.
• In February 2022, Emerson acquired Mita-Teknik, a leading provider of advanced process control and optimization software for oil refineries and petrochemical plants. This expanded Emerson's automation capabilities for the energy and chemicals industries.
• In January 2022, ABB launched ABB Ability Genix Industrial Analytics Suite, an integrated advanced process control and optimization software platform utilizing AI and analytics.
• In December 2021, Azbil Corporation launched PRM (Process Risk Manager), an advanced process control system utilizing model predictive control technology. It helps improve plant efficiency and safety.
• In November 2021, Yokogawa Electric Corporation established an AI co-innovation center in India to strengthen joint research on advanced process control using AI and data analytics.
• In October 2021, Aspen Technology acquired Synapse Wireless, a pioneer in industrial wireless asset monitoring. This added wireless connectivity to AspenTech'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
•  General Electric Co

Report Scope:

In this report, the Global Advanced Process Control Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Advanced Process Control Market, By Deployment Methods:

o   On-Premises

o   Cloud-Based

• Advanced Process Control Market, By Type of Control:

o   Regulatory Control

o   Multivariable Model Predictive Control (MPC)

o   Inferential Control

• Advanced Process Control Market, By Industry Vertical:

o   Oil and Gas

o   Chemicals

o   Pharmaceuticals

o   Power Generation

o   Metals and Mining

o   Food and Beverage

o   Water and Wastewater Treatment

o   Others

• Advanced Process Control Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Netherlands

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Thailand

§  Malaysia

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Advanced Process Control Market.

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