Advanced Process Control (APC) Market size is expected to reach USD 6.3 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of advanced process control was USD 2 Billion. The growth of the market is because advanced process control meets user needs more quickly and at a lower cost, its adoption in the oil and gas, petrochemical, and pharmaceutical industries is expected to continue strong. Fifty percent of manufacturing jobs will be mechanized by 2025. Finding skilled workers is cited as the biggest difficulty by 61% of industrial industries, which has increased reliance on automation.
In addition to these, the market is expected to grow as a result of factors including the major players' strategic alliances and the increased funding for research and development (R&D) projects aimed at bringing energy-efficient process controlling systems to advanced process control market.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
10% |
|
Base Year Market Size (2023) |
USD 2 Billion |
|
Forecast Year Market Size (2036) |
USD 6.3 Billion |
|
Regional Scope |
|
End-User (Pharmaceutical, Oil & Gas, Food & Beverage, Energy & Power, Manufacturing, Chemical, Automobiles, Pulp & Paper)
Based on end-user, the oil & gas segment is anticipated to hold 38% share of the global advanced process control market by 2036. It is anticipated that the market will be dominated by the oil and gas segment. The need for advanced process control is supported by the industry's vital operations and higher automation adoption rates. The industry is now concentrating on increasing efficiency and delaying expenditures from new projects toward developing the current infrastructure because of the recent decline in oil prices. Businesses in the sector are using more and more cutting-edge solutions that boost productivity and offer other long-term advantages to promote revenue development with little expenditures. Oil businesses are constantly looking for innovative processes that might reduce costs and boost profitability, as their output continues to rise year. The annual production of oil in the world exceeds four billion metric tons. With over 50% of proven oil reserves, the Middle East is home to the largest share.
Revenue Source (Software, Services)
Based on revenue source, services segment is anticipated to hold 55% share of the global advanced process control market by 2036. Because industrialized nations like North America and Europe are home to many deployed advanced process control systems, it is expected that demand for APC services will rise dramatically over the course of the projected decade. During the projected period, the software segment is expected to grow at the highest rate of compound annual growth. Process control applications and advanced platforms are included in this software category. Applications for advanced process control help businesses increase productivity and streamline operations.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
Revenue Source |
|
|
End-User |
|
North American Market Forecast
Advanced process control market in the North America region is attributed to hold the largest revenue share of about 35% during the forecast period. The demand for industrial automation, the building of new power plants, and significant semiconductor manufacturing sectors are expected to improve North American APC systems. In addition, the country has the largest installed capacity for nuclear power and produces the most nuclear energy worldwide. Thirty-one states and 99 nuclear reactors produce around twenty percent of the country's electricity. It is anticipated that new nuclear reactors will be developed by 2021. As nuclear power facilities become more reliable, there is a noticeable growth in the area's requirement for sophisticated process control systems.
European Market Statistics
Advanced process control market in Europe region is projected to hold second the largest revenue share of about 27% during the forecast period. The pulp, paper, oil and gas, chemical, and pharmaceutical sectors in the area also make extensive use of APC systems. The German Chemical Industry Association (VCI) represents approximately 1,700 German chemical enterprises as well as German subsidiaries of international corporations. Furthermore, the UK advanced process control (APC) market was increasing at the highest rate in the European region, while the German market retained the largest advanced process control market share.
Author Credits: Abhishek Verma, Hetal Singh
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?