Global Advanced Process Control Software Market in the Oil and Gas Industry Market 2015-2019
APC software is an integrated tool used to increase the efficiency of process management and plant operations. Many organizations across various process industries such as chemical, oil and gas, petrochemical, power, pharmaceutical, pulp and paper, and food and beverage use APC software to optimize their resource utilization and enhance their organizational productivity. The effective deployment of APC software enables organizations to reduce downtime and increase the productivity of the industrial facilities.
Technavio's analysts forecast the global APC software market in the oil and gas industry to grow at a CAGR of 7.37% during 2014-2019.
Covered in this report
This report covers the present scenario and growth prospects of the global APC software market in the oil and gas industry for 2015-2019. To calculate the market size, the report considers the revenue generated from sales of APC software to oil and gas industry.
Technavio's report, Global APC Software Market in the Oil and Gas Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA. It also presents the vendor landscape and a corresponding detailed analysis of the major vendors in the market. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.
EMEA Key vendors
SiemensOther prominent vendors
Yokogawa ElectricMarket driver
Need for cost reduction
For a full, detailed list, view our reportMarket challenge
Volatility in oil and gas prices
For a full, detailed list, view our reportMarket trend
Use of analytics in APC
For a full, detailed list, view our reportKey questions answered in this report
What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Technavio Announces the Publication of its Research Report – Global Advanced Process Control (APC) Software Market in Oil and Gas Industry 2015-2019
Technavio recognizes the following companies as the key players in the Global Advanced Process Control (APC) Software Market in Oil and Gas Industry: ABB, Honeywell International, Schneider Electric and Siemens
Other Prominent Vendors in the market are: Aspen Technology, GE, Rockwell Automation and Yokogawa Electric
Commenting on the report, an analyst from Technavio’s team said: “Analytics measures the economic benefits of all processes and it is a fast growing tool in today's business environment. APC vendors are incorporating analytics into APC software as an additional feature to provide added value and also to facilitate the realization of the benefits of APC. They are integrating APC with other automation systems to reduce the time required to implement APC software.”
According to the report, there is a growing need to reduce operational costs and increased productivity in the process industries as they require high capital expenditure and it takes years to attain a return on investment. A reduction in the number of errors, amount of process re-engineering, and raw material usage, as well as increased quality are some of the major requirements of the oil and gas industry.
Further, the report states that the increased supply of oil and gas in the global market has resulted in a fall in oil prices, which is leading to heavy inventory losses and also a reduction in revenue and profit.
ABB, Honeywell International, Schneider Electric, Siemens, Aspen Technology, GE, Rockwell Automation, Yokogawa Electric