Knowledge Sourcing Intelligence announces the publication of a new analysis report based on the “Advanced Process Control Market - which is forecasted from 2020 to 2027”.
The prime factor driving the growth of the advanced process control market is the increasing emphasis of key players on advancements in the technology in the field of big data analytics, along with the increasing implementation of suitable process control for a variety of applications like production and exploration of oil, water and wastewater, petrochemical products, power, and pharmaceuticals among others.
As per the report, the market about Advanced Process Control Market is expected to grow at a steady pace.
The rising market for energy-efficient industrial processes, along with the expansion of industrialization and inclining awareness of the need for regulatory compliance, is further anticipated to aggravate the market size. The market will continually rise as the implementation of automation expands in every industry, along with the number of production units, especially in developing economies.
Based on type, the advanced process control market offers advanced regulatory control, multivariable model predictive control, inferential control, sequential control, and compressor control. The multivariable model predictive control is projected to hold the majority share in the market as these techniques are used in a variety of industries, like food processing, chemical, and so on. These techniques are also capable of addressing the needs of refineries and energy plants that demand specialized control.
Based on application, the advanced process control market caters to power, oil and gas, chemicals, food and beverage, and Others. The market is likely to be driven by the rising implementation of automation across all these industry verticals.
Based on geography segmentation, the advanced process control market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. Geographically, the Asia Pacific region is likely to account for a sizable market share and to experience rapid expansion due to the growing adoption of advanced process control by the oil and gas sector to minimize data computation errors.
As a part of the report, the major players operating in the Advanced Process Control market have been covered. The key players of Advanced Process Control include Schneider Electric SE, Siemens AG, Onto Innovation Inc., Aspen Technology Inc., Emerson Electric Co., ABB Ltd., Yokogawa Electric Corporation, Panasonic Corporation, Rockwell Automation Inc., Control Soft and Honeywell International Inc.
This analytics report segments the Advanced Process Control on the following basis: