Global Advanced Process Control (APC) Software Market 2017-2021
About Advanced Process Control Software
Advanced Process Control (APC) software consists of tools such as statistical process control, run-to-run control, and fault detection and classification. These tools together form a control unit that enables industries to optimally use their resources, increase productivity, and improve the accuracy level of the entire unit. APC software includes techniques that are widely used in industries to cater to the requirements of process control systems. The advanced control technology consists of advanced hardware such as online sensors, digital control units and other digital systems, and advanced software at the regulatory and optimization levels, in an industry.
Technavio’s analysts forecast the global advanced process control (APC) software market to grow at a CAGR of 8.45% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global advanced process control (APC) software market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Advanced Process Control (APC) Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global advanced process control (APC) software market: ABB, Honeywell International, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Aspen Technology, Rockwell Automation, Rudolph Technologies, Emerson, General Electric, MAVERICK Technologies, and Yokogawa.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is deployment of mobile apps to leverage APC software. APC software, in the future, will be managed by mobile apps. This is to provide better control within industries. Managing all the processes through an application will reduce the workload at the back-end, wherein data from different sources are collected and analyzed. Mobiles will reduce the wastage of time during processes through effective and seamless communication.”
According to the report, one driver in market is advantage of minimal resource requirement post implementation. Process industries use many systems and different technologies to carry out their operations. This makes their work difficult as the companies are required to sort out information from a massive assemblage of data through various machines, which have different technological features attached to them. This makes the whole process complex, and the propensity of making errors in analyzing the data also increases. With the deployment of APC software, industries require fewer resources to monitor processes. This is because the APC software integrates the industrial processes of an entire industry to deliver data systematically. The advanced software deployed in each unit displays real-time data, performs complex calculations, and represents the result in an organized manner. This reduces the adoption rate of other technology or software. With adoption of industry wide APC software, businesses can enhance profit due to optimization of resources and reducing the level of resource wastage. It is expected that resource optimization will arise as a major driving factor behind the adoption of APC software in industries during the forecast period.
Further, the report states that one challenges in market is lack of well-trained workforce is required to operate APC software. Individuals working in industries need to possess subject matter expertise. Therefore, it is required to train employees for the company to meet the desired output with quality. However, there have always been challenges while training the workforce to adapt to a new technology in any industry. Getting acclimatized with operational changes in an industry is difficult for many employees. In line with this, since many of the industries are adopting the APC software, most of the employees are reluctant on adapting to this change. The absence of a definite preparedness can also slow down the process with which operations are carried out. Although APC software data collection and analysis followed by sending the refined information to the control unit require minimal time, the entire process becomes cumbersome for employees, who are not technically sound, to understand. In addition, employees are apprehensive toward the implementation of software such as APC as they are under the impression that they may lose their employment owing to automation.
ABB, Honeywell International, Schneider Electric, Siemens, Aspen Technology, Rockwell Automation, Rudolph Technologies, Emerson, General Electric, MAVERICK Technologies, and Yokogawa.