This market research report presents a detailed segmentation of the global (APC) software market in the chemicals industry based on key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are ABB, Honeywell, Schneider, and Siemens.
Technavio’s market research analysts estimate the global APC software market in chemicals industry to grow at a CAGR of more than 6% between 2016 and 2020. APC software is gaining popularity in the process industries, owing to its ability to improve the efficiency of plants and helping to produce high-quality products. APAC dominates the global APC software market in chemicals industry, accounting for 43% of the overall market share. The growth of the chemical industry in this region has led to a high adoption of the software, driving the market growth. For instance, companies such as Sinopec, based in this region APAC, uses Honeywell’s Profit Suite R400, an APC software, in their chemical production facilities, to achieve high production values through greater flexibility and efficient operations.
The new market research report from Technavio provides a breakdown and analysis of the APC software segments by technology.
“Enterprises are making significant investments in APC solutions to comply with stringent regulations and policies implemented for the chemical and petrochemical industry. The use of APC solutions gives end-users direct information about the efficiency of machines and various parameters regarding operational performance. These solutions help companies to analyze power usage, energy consumption, and the amount of resource wastage from each part of the plant,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The leading vendors in the global APC software market in chemicals industry are ABB, Honeywell, Schneider, and Siemens. The market is dominated by large international vendors. Small and medium vendors do not exist in the market because operations in the chemical industry are complex and critical, which require skilled labor and heavy investments. The competitive environment in this market is likely to intensify during the forecast period due to product extensions and technological innovations.
A more detailed analysis is available in the Technavio report, Global APC Software Market in Chemicals Industry 2016-2020.
We can customize reports by other regions and specific segments upon request.
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