The advanced process control market was evaluated at US$1,699.590 million for 2020 and is projected to grow at a CAGR of 8.36%, reaching a market size of US$2,981.447 million by 2027.
The advanced process control system is a collection of optimization and management system technology that is utilized by industries to increase production capacity, enhance equipment dependability, minimize power consumption, and shorten operating times. Advanced process control is a technology that allows organizations to get the most out of their assets by improving operating performance and process profitability. APC technology has long been employed by process manufacturers. Advanced process controls are usually optional, however, they are employed in industrial process control systems. Increased emphasis on technical improvements, together with rising demand for energy-efficient manufacturing processes, will emerge as the primary market growth driving factor. The increasing scope of automation in all industries, as well as the increasing number of production units, particularly in developing nations, will pave the way for market expansion. Increasing machine utilization and demand for high-quality goods in various sectors, as well as the installation of smart devices in equipment, are some of the reasons driving the growth of the advanced process control market in the industrial automation industry.
Furthermore, advanced process control is utilized in the process industries. It enables a business to increase production, effectiveness, and pollution while decreasing expenses. Advantages such as enhanced production capacity, increased monitoring of performance indicators, lower power use, and higher equipment dependability given by sophisticated process control are driving the market. Moreover, growing industrialization and increased knowledge of the necessity of compliance issues will exacerbate market value.
The rising demand in end-user sectors such as healthcare, energy and electricity, mining, minerals, metals, and food and beverages will drive the APC market forward. APS provides food and beverage manufacturers with extensive process engineering design abilities for aseptic, pasteurization, longer shelf life, hot fill, mixing, batching, and CIP equipment. Tetra Pak, for example, is working with Rockwell Automation to integrate model predictive control into powder production equipment. Similarly, Andhra Paper Limited, one of India's leading integrated pulp and paper makers, will install an ABB advanced process control system at its Rajahmundry mill's lime kiln in August 2022. ABB India has incorporated its OPT800 Lime APC solution into APL's current ABB Ability System 800xA distributed control system to assist lower the energy needs of the highly dynamic lime kiln manufacturing process. Moreover, according to the World Bank Group, the manufacturing industry is quickly expanding and is expected to boom in the future years. The steady rise in user demand, as well as the adoption of best, practices to improve production and quality, as well as advanced automation and process controls, has resulted in a substantial development in the APC system. Furthermore, one of the key drivers of worldwide market growth is the rising demand for automation solutions throughout various industries. Automation solutions are in high demand as most industries strive to make their business practices as productive as possible. Additionally, the oil and gas industry is also anticipated to hold a significant amount of share in the market. As a result of the increasing demand from the end-user industries, the market for advanced process control is anticipated to rise in the upcoming years.
Companies have produced significant critical innovations in the industry that have boosted and increased the market spectrum for the approaching years. As a result, innovative product releases, investments, and collaborations in the market will improve demand and profitability in the future. For instance,
According to analysts, the Asia Pacific region is expected to occupy a notable share of the market in the coming years.
Because of the increasing need for advanced process control tools from different end-use sectors, Asia Pacific is likely to be the fastest-growing regional advanced process control market. The expansion of businesses such as coatings and paints pharma, and chemicals in rising countries like India and China are having a substantial impact on the market's overall development. For instance, RCCPL, a BIRLA Corporation subsidiary, used ABB Ability Expert Optimizer and other digital technology to maximize output at their new cement factory in Mukutban, Maharashtra, India, in June 2020. ABB provided RCCPL with a sophisticated process control system for managing, stabilizing, and optimizing manufacturing processes, enabling the cement maker to enhance output while reducing carbon footprint and fuel consumption to achieve energy use targets.