Advanced Process Control Market Research Report- Forecast till 2023
Market Highlights
Advanced Process Control (APC) enhances process profitability by improving quality, increasing throughput while reducing energy usages. The state-of-the-art APC technologies are capable of releasing process potential across the industries, including food & beverages, refining, petrochemical, and mining.
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Segmentation:
The advanced process control market study is segmented by type, revenue source, and application. The type-based segments of the APC market are multivariable model predictive control, advanced regulatory control, sequential control, inferential control, and compressor control. The revenue source-based segments are software and services. The application-based segments are pharmaceuticals, oil & gas, food & beverages, power, chemicals, petrochemicals, and semiconductors.
The multivariable model segment is expected to secure 33.2% share of the global market. The multivariable model segment is expected surge at 14.19% CAGR through the forecast period. Multivariable model can effectively settle specialized control requirement across petroleum refineries and energy plants. Industries, such as oil & gas, chemicals, petrochemical, and food processing are adopting multivariable model, which can prompt the expansion of the global APC market. The software segment can surge at 12.25% CAGR across the forecast period.
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Global Advanced Process Control (APC) Market Research Report: Information by Type (Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control and Compressor Control), Revenue Source (Software and Services), Application (Oil & Gas, Pharmaceuticals, Power, Food & Beverages, Petrochemicals, Chemicals and Semiconductors) and Region (North America, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2027
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