by Advanced process control (APC) software helps manufacturing companies optimize process performance, improve product quality and consistency as well as reduce production costs by monitoring and controlling critical process variables in real time. APC software analyzes process behavior using advanced control techniques like model predictive control and multivariable matrix control. It uses sensor measurements, process models as well as operator knowledge to predict the impact of proposed actions on the control variables. This enables optimal control moves that drive the process toward desired operating targets while satisfying operating constraints. APC’s model-based approaches also aid in detecting subtle process changes early and help avoiding production losses from process upsets.
The global Advanced Process Control Software Market is estimated to be valued at US$ 1.88 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of advanced process control software in the oil & gas industry is increasing rapidly as it helps optimize processes like refining, cracking and distillation. It is also finding increasing usage in the power industry for boiler drum level control, turbine start-up optimization and load balancing. Growing needs for quality improvements, yield enhancement and cost reductions are driving many manufacturing companies to implement advanced process control strategies using model predictive control software across industries like chemicals, food & beverage, pulp & paper and metals & mining. Cloud-based APC software solutions are also gaining traction as they offer flexibility, scalability and lower deployment costs compared to on-premise solutions.
Porter’s Analysis
Threat of new entrants: Low threat as large capital investment is required for R&D and technology. The market also has dominant players enjoying economies of scale.
Bargaining power of buyers: Moderate power as major energy companies form a small set of bulk buyers. However, customized solution needs help retain customers.
Bargaining power of suppliers: Low power as key components suppliers are different than software vendors. Switching costs for components are also low.
Threat of new substitutes: Low threat as advanced process control provides operational efficiency and continuous uptime which is critical for large industrial facilities.
Competitive rivalry: Intense as major players compete on technology differentiation, product functionalities and pricing.
Key Takeaways
The global Advanced Process Control Software Market Growth is expected to witness high growth.
Regional analysis: North America dominates the market currently due to large presence of shale oil and gas reserves and mature industrial sector in the US. Asia Pacific is expected to grow at fastest pace during the forecast period with China and India emerging as major markets. Governments in Asia are encouraging efficiency improvement and automation adoption in process industries.
Key players operating in the Advanced Process Control Software Market are Orenco Systems, WPL Ltd, Bio-Microbics, Albion Septic System, Premier Tech Aqua, Septic Solutions, BTL LINEDRAIN, Pumps UK LTD, Anua, Tricel, Infiltrator Water Technologies, Hoot Systems, Zoeller, Hess Pumien, RootX, Jet Inc, SJE Rhombus, Norweco, Aero-Stream, Perma-Liner Industries. Major players are focusing on new product launches and targeting industrial automation applications across various process industries.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
