WiseGuyReports.com adds “Global Advanced Process Control Market Research Report 2020 Analysis and Forecast 2027” reports to its database.
PUNE, MAHARASTRA, INDIA, November 26, 2020 /EINPresswire.com/ — Advanced Process Control Market:
Global Advanced Process Control Market is valued approximately at USD 14.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.2% over the forecast period 2020-2027. Advanced process control consists of techniques and technologies that are used to control process system in industries and organizations. Advanced Process Control (APC) is used by industries such as pharmaceutical, water & wastewater, petrochemicals, oil & gas, chemicals, food & beverages, and others to enhance the profitability and efficiency of their operational process. It stabilizes control loops, big process dead time, and process interactions thus improving the production capacity, monitoring of process parameter and reduces energy consumption. The growing demand of Advanced Process Control in end-use industries such as petrochemical and nuclear power for safety, improvement, and optimization of their processes along with increasing demand for automation solutions in various industries are the few factors responsible for growth of the market over the forecast period. Furthermore, the product launch and other strategic alliance by the market player will accelerate the Advanced Process Control market growth. For instance: on 18th September 2019, Schneider Electric launched EcoStruxure Power & Process (EP&P) for oil & gas industry in India. This product launch offers automation power and process systems which enable oil & gas and petrochemical sector to build up and maintain operations in Indian market. However, the implementation cost for these techniques is high which is the major factor restraining the growth of global Advanced Process Control market during the forecast period.
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The regional analysis of global Advanced Process Control market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the high adoption of APC systems across the chemical, pharmaceuticals, pulp and paper, and oil & gas sectors in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Rudolph Technologies, Inc.
Aspen Technology, Inc.
Emerson Electric Co.
Yokogawa Electric Corporation
Honeywell International Inc.
Rockwell Automation, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Oil and Gas
Energy & Power
Mining, Minerals, and Metals
Food & Beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Advanced Process Control Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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Source: EIN Presswire