February 24, 2024
Advanced Process Control Software Market

Advanced Process Control Software Market is Estimated to Witness High Growth Owing to Growing Industrial Automation

Advanced process control software monitors and optimizes industrial processes. It helps reduce waste, increase yields and improve quality of products. Advanced process control applications allow remote access and monitoring of plant operations. They help plants run more efficiently through advanced analytics and modeling. The software continuously analyzes plant and machinery performance to detect issues and enable preventive actions. It enhances productivity by minimizing downtime through predictive maintenance.

The global advanced process control software market is estimated to be valued at US$ 2.17 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.

Key Takeaways

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.

The key opportunities in the market include scope for advanced analytics, artificial intelligence and machine learning applications. Adoption of advanced process control software can help plants optimize processes, enhance productivity and reduce costs significantly.

Globally, industries are increasingly automating processes to gain operational efficiencies. Growing industrial automation is driving demand for advanced process control software for remote monitoring and data-driven decision making. The market is witnessing increasing global expansion as companies look to standardize plant operations worldwide.

Market drivers

A key driver for the advanced process control software market is growing need for improved process visibility and control. Advanced process control helps gain real-time insight into plant performance, detect issues, predict failures and enable data-driven corrective actions. This helps optimize processes, enhance yields and reduce wastage, driving adoption.

PEST Analysis

Political: Advanced process control software market is positively impacted by government regulations and initiatives that promote automation and digital transformation across various industries such as oil and gas, chemicals, power, etc. Stringent regulations regarding environment protection and energy efficiency further drive the demand for advanced process control software.

Economic: Growing industrial sectors coupled with rising disposable incomes drive investments in advanced process control systems to achieve optimal performance, higher productivity and reduce operational costs. Stable economic conditions encourage industrial upgrading and modernization.

Social: Increased focus on workplace safety and growing awareness about resource conservation boosts adoption of advanced process control solutions. Demand for remote monitoring and management of industrial operations also contributes to market growth.

Technological: Advancements in Internet of Things, cloud computing, data analytics, and artificial intelligence are integrating with advanced process control software. Sophisticated algorithms and connectivity options enable predictive maintenance, proactive diagnosis and enhanced decision making. Integration of advanced systems allow remote operations and management.

Geographical regions with high market concentration

The Advanced Process Control Software Market Demand in North America region currently holds the highest value share, led by the United States. This can be attributed to extensive number of oil refineries, petrochemical plants, food and beverage industries, and power generation facilities in the region adopting advanced automation solutions. Europe is another major revenue generator, with countries like Germany, UK, France having well-established process manufacturing industries.

Fastest growing region

The Asia Pacific region is poised to experience the fastest growth in the advanced process control software market over the forecast period. This can be accredited to ongoing industrialization efforts and rising investments in process automation by developing economies of China, India, Indonesia, Vietnam and others. Also, the need to optimize operational efficiency and reduce costs is encouraging adoption of advanced process control technologies across industries in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it