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Advanced Process Control Market Trends

Report ID: GMI9933
Published Date: Jun 2024
Report Format: PDF

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Advanced Process Control Market Trends

APC systems are increasingly leveraging AI and ML algorithms to improve predictive modeling and decision-making capabilities. AI enables APC to analyze complex data patterns in real-time, optimizing process parameters for enhanced efficiency and quality. ML algorithms continuously learn from data, allowing APC systems to adapt and improve over time, making them invaluable for industries seeking precision and agility in their operations.

The adoption of cloud platforms in APC enables scalable and flexible deployment models. Cloud-based APC solutions facilitate remote monitoring, data storage, and analysis, allowing stakeholders to access real-time insights from anywhere. This approach reduces infrastructure costs, enhances collaboration across locations, and supports rapid deployment of updates and improvements. It also enables easier integration with other digital tools and technologies, fostering a more connected & responsive manufacturing environment.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for advanced process control was USD 21.65 billion in 2023 and will grow at 11% CAGR between 2024 and 2032 due to increasing demand for energy-efficient production processes and the need for higher productivity in industries, such as oil and gas, chemicals, and pharmaceuticals.

The oil & gas segment in the advanced process control industry will record USD 10 billion by 2032, driven by the high demand for optimizing complex processes, improving operational efficiency, and reducing costs.

North America industry captured 35% share in 2023, attributed to the robust industrial base, particularly in the oil & gas, chemicals, and pharmaceuticals sectors, and emphasis on adopting advanced technologies and automation solutions drives market growth.

Prominent players operating in the market are ABB Ltd., Aspen Technology, Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., Schneider Electric SE, and Siemens AG, are among others.