May 21, 2024
Advanced Process Control Software Market

Optimizing Industries: Advanced Process Control Software Trends

Advanced process control software is used to monitor and control different processes in various industries such as oil and gas, petrochemicals, chemicals, pharmaceuticals, food and beverages, energy and power, mining, and others. It helps to optimize processes, reduce costs, improve yields and achieve high productivity. Advanced process control software is widely used in batch, continuous, and discrete processes to efficiently operate and automate processes and maximize plant efficiencies. The need to reduce operating costs, minimize process variability, enhance safety, and ensure compliance is driving the demand for advanced process control software across industrial verticals.

The global advanced process control software market is estimated to be valued at US$ 1.88 Mn in 2023 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 Dynamics:

The advanced process control software market is expected to be flourished by growing demand from process industries. One of the major driver for the growth of this market is the need for optimization of production processes. Advanced process control software helps Industries to optimize their processes through continuous monitoring and control which maximizes output, reduces variability and waste. It further improves plant efficiencies, enhances product quality and consistency. This drives various process industries to adopt advanced process control software. Second driver is the need for cost reduction. Advanced process control software helps achieve cost savings through optimization of processes, resources and assets. It minimizes downtime, reduces cycle times, improves yields and maximizes throughput. This leads to overall cost reduction for process industries.

Segment Analysis

Advanced Process Control Software Market is segmented into type and applications. By type, predictive control sub-segment dominates the market holding around 40% share. Predictive control helps in optimizing the operations based on the self-learning and it can anticipate and predict outcome even before the events.

PEST Analysis

Political: Governments across the world are pushing the industries to adopt predictive technologies and advanced softwares for optimization of processes and operational excellence. This is driving the adoption of advanced process control software.
Economic: With the economic growth in many developing countries and focus on operational efficiency by industries, the spending on advanced process control software is increasing to maximize production and minimize costs.
Social: Advancement in technologies have made people aware about benefits of predictive controls and automation. This increasing awareness amongst end-users is propelling the demand for advanced process control software market.
Technological: Developments in areas of Internet of Things, machine learning, deep learning, artificial intelligence are enabling advance predictive capabilities in process control software. Technologies like cloud computing are also supporting the growth.

Key Takeaways

The global Advanced Process Control Software Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. North America region presently dominates the market due to large presence of petrochemical and energy industries in the region. Early adoption of advanced technologies by enterprises in USA and Canada also contributes to its large market share.

Regional analysis:

Asia Pacific region is expected to showcase fastest growth in the Advanced Process Control Software Market. Increasing investments in process industries like petrochemical, oil & gas, power in major economies like China, India is driving the growth. China is expected to emerge as the fastest growing market attributed to government focus on enhancing production capabilities through automation and use of advanced technologies.

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. Orenco Systems and WPL Ltd are the major players due to their wide geographical presence and diverse product portfolio.