According to the business intelligence report titled ‘Global Advanced Process Control Market Size study, by Product Type (Hardware, Software and Service), by End-Use (Oil and Gas, Chemicals, Pharmaceuticals, Energy & Power, Mining, Minerals, and Metals, Food & Beverages and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global advanced process control market was worth USD 14.7 billion in 2019 and is projected to record 9.2% CAGR over 2020-2027, subsequently reaching a value of USD 29.8 billion by the end of the analysis period.
 

As per the report findings, increasing demand for process control solutions from various end-user industries, mainly food & beverages, chemicals, oil & gas, petrochemicals, water & wastewater, and pharmaceuticals is driving global advanced process control market growth.
 

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Furthermore, strategic alliances such as mergers, partnerships, and acquisitions among industry majors, along with introduction of innovative products are adding substantial traction to the market expansion.
 

For those unaware, advanced process control refers to a wide range of technologies and techniques which are implemented within organizations and industries to control and supervise various processes. These techniques assist enterprises in achieving optimal operational efficiency and enhancing profitability. The system stabilizes big process dead time, control loops, and process interactions to monitor of process parameters, boost production capacity, and reduces energy consumption.
 

Speaking of the factors hindering global advanced process control market expansion, high implementation costs associated with the technology will continue to hinder the industry growth during the analysis timeframe.
 

From a geographical perspective, North America, Europe, Asia Pacific, and Latin America are key contributors to global advanced process control market growth. Industry experts cite that Europe currently captures a significant portion of the overall industry share and is slated to amass substantial gains through 2027, owing to rising adoption of advanced process control techniques across various sectors such as oil & gas, pulp & paper, chemicals, and pharmaceuticals.
 

Meanwhile Asia-Pacific market is touted to grow exponentially, exhibiting a robust yearly growth rate over the forecast period.
 

Siemens AG, Rockwell Automation, Inc., Emerson Electric Co., Aspen Technology, Inc., Schneider Electric SE, ABB Ltd., Panasonic Corp., Rudolph Technologies, Inc. (merged with Nanometrics), Yokogawa Electric Corp., and Honeywell International, Inc. are the top-tier organizations influencing worldwide advanced process control market dyanmics.