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Global advance process control software market: 11% CAGR between 2012-2016

Press release   •   May 01, 2013 14:54 BST

The Global Advance Process Control Software market is to grow at a CAGR of 10.67 percent over the period 2012-2016. One of the key factors contributing to this market growth is the migration from legacy system to Advance Process Control software. The Global Advance Process Control Software market has also been witnessing the development of customized APC software. However, lack of awareness about APC software could pose a challenge to the growth of this market.

Although large companies and original equipment manufacturers do not use or prefer open source APC solutions, several SMEs, which are cost-driven companies, prefer open source APC solutions. These companies prefer open source vendors because they offer well-featured APC software that is affordable. The main factors differentiating between the open source vendors and the commercial APC vendors are the support and services and the standardization. SMEs and other infrequent users of APC software are increasingly adopting open source APC software. This is mainly owing to the cost benefit of using open source software. Most of the open source APC solutions are affordable and they contain the basic features that are needed and often used by SMEs. Nevertheless, a considerable amount of market share has been taken by open source vendors, especially in the SME segment.

The Global APC Software market is witnessing many growth drivers such as the migration from the legacy system to APC software. Several organizations across the globe are shifting their focus to APC software from the conventional system to improve their plant's efficiency.

A major challenge in the market is the lack of awareness about APC software. Several large and small organizations are reluctant to using APC software because they are not very well aware about the benefits of APC software.
Key vendors dominating this market space include namely ABB Ltd., Honeywell International Inc., Siemens AG, and Invensys plc. Other vendors mentioned in the report: Yokogawa Electric Corp., General Electric Co., Rockwell Automation Inc., Aspen Technology, Inc., and Rudolph Technologies Inc.

For more information on the Global advance process control software market, please click here: Global advance process control software market

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