Advanced Process Control Market Analysis by Latest Techniques, Technology Standards, Industry Applications and End Users, Forecast 2018-2023
Jun 14, 2018
Orbis Research Present's - Global Advanced Process Control Market-Segmented by Type, End-user and Geography (2018-2023) which enhances the decision making capabilities and helps to create an effective counter strategies to gain competitive advantage of the industry.
Dallas, United States - June 14, 2018 /MarketersMedia/ —
The Advanced Process Control Market was valued at USD 1050.24 million in 2017, and is expected to value at USD 1779.8 million by 2023 at a CAGR of 9.19%, over the forecast period (2018 - 2023). The different types of advanced process controls considered in our scope include, advanced regulatory control, multivariable model predictive control, inferential control, sequential control, and compressor control.
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Companies Mentioned:
ABB Ltd, Aspen Technology, Inc., Emerson Electric Co., General Electric Co., Honeywell International, Inc., Rockwell Automation, Inc., Rudolph Technologies, Inc., Schneider Electric Se, Siemens AG, And Yokogawa Electric Corp.
Oil & Gas is the largest sector in the global market, with the largest market share in 2016. High adoption rate of automation and critical nature of operations in the industry, are supporting the demand for advanced process control. With the dip in oil prices in the recent years, the industry is now focusing on improving efficiency and deferring investments from new projects to existing infrastructure development. Companies, in the industry, are adopting advanced-solution providing, while offering enhanced efficiency, thus, driving the revenue growth. While, the industry is witnessing a slowdown in growth, increasing demand for energy globally is driving investments from the sector, with some companies predicting the demand to peak within next 15 years. Changing dynamics in the oil industry, with a shift toward ocean-floor exploration, is creating a need for advanced process-control operations in new projects. With safety and control being the primary focus areas in the industry, investments in upgrading the existing automation systems is further influencing the demand for advanced process control. However, the dynamic nature of the industry and low industry confidence, can hamper investments in new technologies, over forecast period.
Increasing Demand for Automation Solutions across Various Industries
To remain productive and competitive, manufactures are adopting creative and energy efficient methods to improve the business-development model. The seamless integration of hardware and software is enabling manufacturing industries to reduce wastage, lower accident rates, and produce robust and accurate products profitably. Automation is becoming an integral part of the modern manufacturing and industrial operations. Maintaining a consistency in the quality and efficiency in production has led to major manufacturers and industry players investing in the adoption of the automated solutions to enhance the overall performance of the enterprise. Automation solutions optimize the productivity and efficiency of the various stages of production. Network intelligence is well developed and widely adopted. Furthermore, to ensure a smooth and efficient business model, major industries are integrating advanced process controls to their automation models. Additionally, major players like ABB, are investing significantly in the development of automation solutions, to satisfy the rising demand across various end-user industries.
Browse the complete report on Global Advanced Process Control Market @ http://orbisresearch.com/reports/index/global-advanced-process-control-market-segmented-by-type-end-user-oil-and-gas-water-and-waste-management-pharmaceuticals-and-geography-growth-trends-and-forecast-2018-2023
Key Developments
July 2017 - Schneider signed an agreement to acquire Asco Power Technologies, a leader in the Automatic Transfer Switch market, for USD 1250 million, in an all-cash transaction. The acquisition enhanced Schneider Electric’s EcoStruxure Power Platform in key markets and segments.
July 2017 - ABB completed the acquisition of B&R, the largest independent provider focusing on the product and software-based, open-architecture solutions for machine and factory automation worldwide.
June 2017 - GE launched New Solutions Purpose Built for Industrial Assets. GE Digital launched an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax, which is company's cloud-based field service management solution, with its intelligent Asset Performance Management portfolio, to develop service operations, reduce costs, and eliminate unplanned downtime.
Reasons to Purchase the Report
To understand how rising safety and security concerns are expected to boost the demand of advanced process control systems in the global market scenario
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The type and end-user verticals that are expected to dominate the market
Regions that are anticipated to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Info:
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Source: MarketersMedia
Release ID: 360428
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