The global advanced process control (APC) market is anticipated to witness growth owing to growing importance of cost reduction in process industry. This software is integrated tools that consist of broad range of technologies and techniques which will enhance the efficiency of plant operation and process management. Globalization and government regulation for quality have made industry highly competitive, therefore players are forced to reduce operational cost in order to increase profit margin. Increasing need for optimizing resource may drive industry growth.
Key market players are expected to offer customized solutions to enhance competitive advantage. Development of information technology, infrastructure and hardware services may drive industry growth over the next seven years. Increase demand for software solution that can predict the failure at the component level is expected to favor industry players.
This solution offers benefit such as improved yields, increased throughput, reduced energy usage, and improves quality consistency. It also offers increased operating flexibility, decreased operating costs, and improved stability. Intangible benefit such as improved operator effectiveness, better information, and reduced downstream unit variability is expected to contribute to revenue growth.
Need for updating and maintenance activities may form major revenue generation source for the industry participants over the forecast period. Increasing popularity of analytical tools for decision making, finding root cause of a problem and reducing errors may drive the need for integrating these tools to enhance end user value proposition. Increased investment in research and development may help players to attain competitive advantage over the forecast period.
Requirement of high initial investment for the license may hinder the industry growth over the next seven years but companies can lower their operational expenditure over a period of time. This software requires a long implementation time which may pose a challenge to the market growth. Small and medium enterprises may avoid using advanced tools owing to requirement of huge investment and added cost such as training and maintenance cost. However, growing awareness about the benefit of APC tools among small and medium enterprise may help industry participants to penetrate segment. Availability of freely downloadable software may hinder the market growth.
Global advanced process control market can be segmented based on end users as oil and gas, power, chemicals. Various models primarily available are multivariable model predictive, advanced regularity, sequential, inferential and compressor control. Complex interactive problems, changing operational requirement and difficulty to optimize manually are expected to favor adoption of such solution over the forecast period in Oil & Gas sector. Increasing requirement of improving the productivity, security, safety, and efficiency of chemical manufacturing plants may drive demand over the forecast period.
North America and Asia-Pacific is anticipated to be major regional segment over the forecast period owing to rising energy efficient production and increasing infrastructure development. India and China is expected to be major revenue area in Asia Pacific over the forecast period.
Key player in the advanced process control market include Aspen Technology Inc., ABB Ltd., Honeywell International Inc., Schneider Electric, Siemens, General Electric Software Inc., Rudolph Technologies, Rockwell Automation Inc., Yokogawa Electric Corporation etc. In June 2015, Yokogawa acquires label free image analysis technology from Chip-Man Technologies to enhance its technology capability.
In October 2014, ABB launched the new version of cpmPlus Expert Optimizer 8.0 for cement industry with enhanced features such as enhanced alarm and event capabilities, fuctional user interface for higher operation effectiveness, object-oriented engineering environment and improve model predictive capabilities.
ABB ‘s APC tools can be used for all industries. This product suits include multivariable control, neural network models, and dynamic simulation for training & engineering application. It also offers statistical process and basic control, loop optimization & auditing, DCS & APC connection and integration.
In December 2014, Invensys launched its SimSci APC 2014 with added capability of powerful calculation language which will allow engineer to add and built custom support function.
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