Advanced Process Control Market Size, Share & Trends Analysis growing at a CAGR of 10.6% from 2024 to 2030
The global advanced process control market size was estimated at USD 2,173.6 million in 2023 and is projected to reach USD 4,545.2 million by 2030, growing at a CAGR of 10.6% from 2024 to 2030. Advanced process control (APC) includes model-based software to enhance and manage complex industrial processes such as chemical processing, power generation, manufacturing, etc.
Key Market Trends & Insights
- In terms of region, North America was the largest revenue generating market in 2023.
- In terms of segment, hardware accounted for a revenue of USD 2,173.6 million in 2023.
- Hardware is the most lucrative component segment registering the fastest growth during the forecast period.
Market Size & Forecast
- 2023 Market Size: USD 2,173.6 Million
- 2030 Projected Market Size: USD 4,545.2 Million
- CAGR (2024-2030): 10.6%
- North America: Largest market in 2023
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Implementation of APC is aimed at improving operational effectiveness, quality, safety, productivity, and environmental impact. Unlike traditional processes, APC provides advanced control techniques and requires complex models and algorithms to handle process dynamics effectively.
As industries across multiple domains experience rising competition owing to globalized nature of businesses and liberal markets, companies are focusing in enhancing their processes through adoption of technology while eliminating the potential hurdles including costs, resources, and time taken for particular activity. It has resulted in growing demand for automation technologies worldwide. Numerous businesses are adopting APC solutions to improve productivity, develop efficient processes, reduce costs, and deliver products that meet changing consumer demands.
One of the prominent aspects that has been influencing the global industry is sustainability and energy efficient processes. Growing consumer awareness of buying sustainably developed products & services has encouraged several industries to cut down on high energy consuming procedures. It has led to growing inclination towards embracing energy efficient solutions driven by technologies such as advanced process control.
