Artificial Intelligence
Size of Advanced Process Control (APC) Market Predicted to Exceed USD 3,400 Mn by 2030
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New York, April 25, 2023 (GLOBE NEWSWIRE) — As per a recent report by Reports Insights, the advanced process control (APC) market is ready for exponential expansion and is estimated to reach over USD 3,407.95 Million by 2030. The market, which was valued at USD 1,673.29 Million in 2022, is expected to grow at a compound annual growth rate of 9.6% during the period 2023-2030. The report offers an analysis of the competitive landscape, regional trends, market segmentation, and emerging technologies. The study aims to provide a comprehensive understanding of the market dynamics and factors driving its growth. This estimation is based on an in-detailed analysis of the market’s historical and latest trends, macroeconomic factors, and industry dynamics that are estimated to impact the market’s growth during the forecast period.
Advanced Process Control (APC) Market Size, Share & Trends Analysis, By Product Type (Hardware (Control Systems, Interface and Display, Computing Systems, and Others), Software, Services (Advanced Regulatory Control, Multivariable Model Predictive Control, Sequential Control, Inferential Control, and Compressor Control)), End Use (Manufacturing, Mining, Steel, Pulp and Paper, Cement, Chemical, and Food & Beverage), By Region, Forecast Period 2023 – 2030.
ReportsInsights Consulting Pvt. Ltd has published a thorough research report on the market for advanced process control. The report covers various key aspects, such as market size, value and supply chain, regulatory frameworks, and emerging trends. It also explores important categories such as type, end-use, and regional market dynamics to identify potential opportunities and new trends. This data can be valuable for companies looking to improve their competitive edge by focusing on strategic partnerships, product advancements, and mergers and acquisitions to strengthen their position in the market as compared to other manufacturers.
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The increasing adoption of Industrial Internet of Things (IoT) has resulted in favorable adoption of advanced process control solutions with several platforms to enable real-time monitoring of industrial processes. Also, advanced process control solutions are increasingly being incorporated with Artificial Intelligence and Machine Learning algorithms to improve their capabilities and accuracy in predicting and optimizing industrial processes.
The increasing focus on financial sustainability is expected to propel the demand for advanced process control solutions. For instance, industries including pharmaceutical, food & beverage, and manufacturing are actively considering factors to reduce energy consumption, wastage, and minimize environmental impact, thus propelling the demand for advanced process control solutions. For instance, according to the report published by The Food and Drink Federation, 2021, the food and beverage manufacturing sector in the UK, comprising of 11,675 businesses made a total investment of approximately USD 4.4 million for overall optimizations in manufacturing processes. Hence, the increasing investments on energy sustainability is expected to create profitable avenues for the advanced process control market over the forecast period.
Industries including chemical, pulp and paper, and others are increasingly adopting Industry 4.0 in order to enhance their production capabilities. In addition, a growing trend in the adoption of smart technologies such as automation, data analytics, and process optimization are being witnessed over the recent years. Moreover, the growing demand for customization and modernization of production units is propelling the growth for advanced process control market. For instance, according to the study conducted by ABB, the global market for machine and factory automation is estimated be valued at USD 20 billion with expectations to reach over USD 31 billion by 2030. Hence, the growing market for factory automation is anticipated to propel the demand for advanced process control solutions within the industries.
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| Report Attributes | Report Details |
| Market Size By 2030 | USD 3,407.95 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 9.6% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | ABB, Honeywell International, Inc., AVEVA Group PLC, Onto Innovation Inc., The General Electric Company, Aspen Technology, Inc., Yokogawa Electric Corporation, Schneider Electric Se, Siemens AG, Aspen Technology, Inc., IPCOS |
| By Type |
|
| By End Use |
|
| Report Coverage | Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Total Revenue Forecast, Business Strategies, and More. |
| By Geography |
|
The rising demand for APC systems from emerging economies such as India, China, and Brazil are expected to drive the advanced process control market growth. Aforementioned economies are undergoing rapid industrialization and are increasingly adopting advanced technologies to improve their operations. Moreover, companies situated in the developing nations have an opportunity to develop more accurate models associated with manufacturing processes. Furthermore, implementation of technologies including Artificial Intelligence (AI) and Machine Learning (ML) coupled with advanced process control is expected to create an effective process optimization and control system.
Key Market Takeaways
- Asia Pacific accounted for the highest market share over 40.46% in 2022 due to the established presence of the manufacturing industry along with the chemical, pharmaceutical, and food & beverage industries.
- The global advanced process control market size is estimated to reach over USD 3,407.95 Million by 2030 with a CAGR of 9.6% during the forecast period (2023-2030).
- Based on the product type segment, the software segment accounted for the highest market share in 2022.
- Based on the end use, the manufacturing segment accounted for the highest market share in 2022.
- North America is estimated to register the fastest CAGR of over 9.7% during the forecast period. The growing focus on business expansions in the region is the major factor that is expected to create profitable avenues for the advanced process control (APC) market.
Find What You Need With Our Detailed Table Of Contents (TOC) & Summary Of Advanced Process Control Market Report @ https://www.reportsinsights.com/industry-forecast/advanced-process-control-market-statistical-analysis-673863
Advanced Process Control Market Growth Drivers:
- The growing demand for energy-efficient solutions is boosting the adoption of APC systems to optimize energy consumption by controlling process variables and reducing waste, thereby reducing energy costs and carbon emissions in the manufacturing industry.
- As industrial processes become more complex, it becomes more difficult to control them manually. APC systems help to automate and optimize these processes, reducing the risk of errors and improving overall efficiency.
- Advancements in technology have led to the development of more sophisticated APC solutions that optimize industrial processes, reduce costs, and improve efficiency. The integration of artificial intelligence, machine learning, and big data analytics into APC systems has made it easier to monitor and control industrial processes in real time.
Restraints
- The increasing connectivity and use of data in APC systems results in the rise of cyber-attack risks. This led to concerns about the security of sensitive data and the potential for system downtime that is controlled by advanced process control.
- The implementation of APC systems requires a significant investment in hardware, software, and implementation. This results in difficulties for some companies to justify the expense, particularly smaller organizations due to the high integration costs of the advanced process control hardware and software.
Competitive Landscape
As per the study, the APC market is highly competitive, with a range of vendors offering solutions across industries. The leading market players such as ABB, Honeywell International, Inc., AVEVA Group PLC, Onto Innovation Inc., The General Electric Company, and Aspen Technology, Inc. are gaining traction with their advanced automation capabilities. These companies are increasingly focusing on developing AI-based APC solutions that can learn from data and improve process optimization over time. This is likely to be a key area of differentiation in the coming years as companies continue to invest in digital transformation initiatives.
Recent Developments
In July 2022, ABB and SKF signed a Memorandum of Understanding (MoU) to investigate potential cooperation in the automation of manufacturing processes. The partnership aims to identify and assess strategies for enhancing manufacturing capabilities and facilitating clients’ productivity growth via process automation.
In May 2022, Honeywell launched the C300PM controller, which aims to assist industrial operations achieve a contemporary and consolidated process control platform. The solution safeguards current intellectual property while modernizing the existing infrastructure. The C300PM offers a convenient solution for businesses looking to upgrade their controller installed base during plant renovations or unit expansions.
List of Major Advanced Process Control Market Players
- ABB
- Honeywell International, Inc.
- AVEVA Group PLC
- Onto Innovation Inc.
- The General Electric Company
- Aspen Technology, Inc.
- Yokogawa Electric Corporation
- Schneider Electric Se
- Siemens AG
- Aspen Technology, Inc.
- IPCOS
Global Advanced Process Control Market Segmentation:
- By Type
- Hardware
- Control Systems
- Interface and Display
- Computing Systems
- Others
- Software
- Services
- Advanced Regulatory Control
- Multivariable Model Predictive Control
- Sequential Control
- Inferential Control
- Compressor Control
- Hardware
- By End Use
- Manufacturing
- Mining
- Steel
- Pulp and Paper
- Cement
- Chemical
- Food & Beverage
Key Questions Covered in the Advanced Process Control Market Report
- Who are the major market players in the latest advanced process control market?
- ABB, Honeywell International, Inc., AVEVA Group PLC, and Onto Innovation Inc. are leading market players currently operating in the advanced process control market.
- What information is covered in recent advancements and trends in the advanced process control market, and how are they affecting the industry?
- The factors related to advancements in Industry 4.0, improvements in natural language processing models, adoption of 5G internet, Internet of Things, and others are covered in recent advancements and trends of in the advanced process control market.
- What are the primary drivers behind the increased demand for advanced process control among businesses?
- The major factors attributed to the market growth are the increasing demand for process optimization, the adoption of Industry 4.0, and the demand for energy-efficient processes across various industries.
- How competitive is the advanced process control industry, and what factors will influence its competitiveness in the future?
- The advanced process control market is highly competitive with companies offering product innovations on the basis of AI-based data for improving process optimization of business.
- What factors are taken into consideration in PORTER’s and PESTEL analysis that reflect the current state of the advanced process control market?
- The factors such as the number and market position of a specific company’s competitive rivals, potential new market entrants, customers, suppliers, and alternative products that affect a company’s profitability are included in PORTER’s analysis. However, the factors including social factors, political situation in a particular country, environmental factors, technological developments, the legality of actions, and economics are deeply analyzed in PESTEL analysis of the advanced process control market.
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Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
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Artificial Intelligence
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BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
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Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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