DUBLIN, June 24, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/htqlpn/global_advanced) has announced the addition of the "Global Advanced Process Control (APC) Software Market 2015-2019" report to their offering.
The global APC software market to grow at a CAGR of 9.43% over the period 2014-2019.
APC software is an integrated tool used to enhance the efficiency of process management and plant operations. Several organizations across several industries such as chemicals, oil and gas, petrochemicals, power, pharmaceuticals, pulp and paper, and food and beverages use APC software to enhance their productivity. Effective deployment of APC software enables organizations to reduce downtime and increase productivity by enabling optimum resource utilization.
Analytics is becoming a popular tool in decision making across industries and its use will have an impact on the global APC software market. Business decisions are made using analytic and other statistical models. Many analytical software solutions are designed and developed to help companies improve decision making, reduce errors, and find the cause of a problem. Automation vendors have started incorporating analytics tools in their APC software, which will help the end-users to more easily identify faulty processes and determine the economic benefits of the optimization of processes.
According to the report, the cost reduction needs of process industries are driving the adoption of APC software. Companies are now under pressure to decrease their operational costs and to increase their profit margin in this highly competitive environment. They are finding it hard to optimize their processes and ensure smooth process flow in critical bottleneck activities. Adoption of APC will help in solving these problems. Though APC requires a heavy initial investment and a long implementation time, a return on the invested time and money can be achieved through the increased cost savings within a short time span.
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.
The global APC software market can be segmented into four based on end-users:
- Oil and gas
- Others (cement, pulp and paper, and food and beverages).
- Honeywell International
- Schneider Electric
Other prominent vendors
- Aspen Technology
- General Electric
- Rockwell Automation
- Rudolph Technologies
- Yokogawa Electric
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by End-user
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/htqlpn/global_advanced
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SOURCE Research and Markets