The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, July 04, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Advanced Process Control Global Market Report 2023, the market will grow from $16.8 billion in 2022 to $18.6 billion in 2023, at a compound annual growth rate (CAGR) of more than 10%. Further, the market will reach $26.8 billion in 2027, with a CAGR of more than 9%. Asia-Pacific was the largest region in the advanced process control market in 2022.

The growth of the advanced process control industry is driven by the increasing demand for automation solutions. Automation technology minimizes reliance on human intervention to complete tasks. Industry leaders employ Process Automation Systems (PAS), particularly advanced process control (APC) systems, to streamline operations, enhance efficiency, reduce operator involvement, and increase profitability in dynamically changing environments.

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Major advanced process control companies are Schneider Electric, Siemens, 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, and Cisco.

Technological advancement emerges as a key trend in the advanced process control market. Major companies operating in this market focus on developing innovative technologies.

For example, ABB Ltd., a Swiss automation company, introduced Wet End Control, the latest generation of its Advanced Process Control (APC) solution, in June 2020. This solution offers comprehensive digital management of wet end processes in paper mills worldwide, maximizing productivity and profits. ABB Wet End Control employs multivariable model predictive control technology to automatically adjust ash levels, reduce fluctuations in white water consistency, and minimize chemical and filler dosages, enhancing stability and performance.

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The global advanced process control market is segmented as-

1) By Type: Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control And Compressor Control

2) By Revenue Source: Software, Services

3) By End-Use: Oil And Gas, Petrochemicals, Pharmaceuticals, Food And Beverages, Energy And Power, Chemicals, Other End-Uses

The global advanced process control report serves as a valuable resource for industry professionals, investors, researchers, and policymakers seeking to understand the trends, growth potential, and technological developments within the market. It offers insights and strategic recommendations to facilitate informed decision-making, enabling stakeholders to capitalize on emerging opportunities and navigate the challenges in this rapidly evolving landscape.

Advanced Process Control Global Market Report 2023 by The Business Research Company provides insights on the advanced process control market size, advanced process control market segments, advanced process control market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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