Advanced Process Control Software Market

Date: 11/23/2015

Global Advanced Process Control Software Market in Chemicals Industry 2016-2020

The Global Advanced Process Control (APC) Software Market in Chemicals Industry to Grow Steadily At A CAGR Of 7% over the Period 2016-2020

  • Published by: Technavio / Infiniti Research Limited
  • Posted on: November 18, 201
  • Report SKU: IRTNTR7993

About APC Software

APC software is an integrated tool used to increase the efficiency of process management and plant operation. Several organizations across various process industries such as the Chemical, Oil and Gas, Petrochemical, Power, Pharmaceutical, Pulp and Paper, and Food and Beverage industries use APC software to enhance organizational productivity. Effective deployment of APC software enables organizations to reduce downtime and increase the productivity of the industrial plant. Furthermore, it enables them to optimize their resource utilization.

Market Outlook for the APC Software Market in the Chemicals Industry

Technavio’s market research analyst predicts the global APC software market in chemicals industry to grow steadily at a CAGR of around 7% during the forecast period. The rising investments in the US chemical industry is expected to drive the market growth during the forecast period. The economic recovery in the region has boosted the sale of light vehicles, appliances, and construction materials. The automotive and real estate sectors are the major end-user markets for chemicals in the US. For instance, during 2015, nearly 215 new chemical production projects with a market value of around USD 135 billion were started to cater to the rising demand from end-user industries.

The lack of skilled workforce that can develop and operate statistical and optimization models and integrate APC software with legacy automation systems is anticipated to pose challenges to the market growth during the forecast period. The use of APC technology is man power intensive and also requires extensive technical and domain knowledge.

Geographical Segmentation and Analysis of the APC Software Market in the Chemicals Industry

  • Americas
  • APAC
  • EMEA

APAC accounted for around 43% of the market share during 2015. The growth of the chemical industry in this region has led to a high adoption of the software, driving the market growth. For instance, companies such as Sinopec, based in this region APAC, uses Honeywell’s Profit Suite R400, an APC software, in their chemical production facilities, to achieve high production values through greater flexibility and efficient operations.

Competitive Landscape and Key Vendors

The market is dominated by large international vendors. Small and medium vendors do not exist in the market because operations in the chemical industry are complex and critical, which require skilled labor and heavy investments. The competitive environment in this market is likely to intensify during the forecast period due to product extensions and technological innovations.

The leading vendors in the market are –

  • ABB
  • Honeywell
  • Schneider Electric
  • Siemens

Other prominent vendors in the market include Aspen Technology, GE, Rockwell Automation, and Yokogawa Electric.

58福彩 临海市 湖北省 钟祥市 大同市 兰溪市 湘潭市 松滋市 铁力市 彭州市 厦门市 宜春市 邹城市 彭州市 山东省 金昌市 平度市 海南省 双滦区 忻州市 葫芦岛市 十堰市 平度市 潞城市 临沂市 阜新市 普兰店市 汉川市 兴城市 都匀市 枣庄市 安达市 烟台市 高邮市 梅河口市 江油市 白银市 丰城市 孝义市 石首市 池州市 葫芦岛市 福建省 金华市 梅河口市 胶州市 上虞市 大石桥市 江阴市 吉首市 大庆市 铁力市 深州市 山西省 厦门市 项城市 永州市 原平市 明光市 耒阳市