London, 17 June 2015 – Technavio has published a new report on the global APC software market, which is expected to grow at a CAGR of 9% from 2015-2019.
About the Report
According to the latest market survey report by Technavio, the cost reduction needs of process industries are driving the adoption of advanced process control (APC) software. Companies are focusing on decreasing their operational costs and increasing their profit margins in order to stay competitive in the market.
“Though implementing APC requires a substantial investment and is time consuming, a return on the invested time and money can be achieved through the increased cost savings within a short time span,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio industry analysis report also emphasizes the growing focus on integrating with automation systems.
“Automation vendors are increasingly trying to retain their customers and provide a complete automation package to their end-users in the process industries, which has led to the integration of APC with other automation solutions such as Distributed Control System (DCS).”
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and the growth prospects of the global APC software market from 2015-2019. To calculate the market size, we have considered the revenue obtained from end-users for the following:
- Sales of software licenses
- Renewal of software licenses
- Upgrades of existing solutions
- Maintenance
- Services
Key Information Covered in the Report:
Key Vendors:
- ABB Ltd.
- Honeywell International Inc.
- Schneider Electric SA
Market Growth Drivers:
- Need for cost reduction
- For a full detailed list, view our report.
Market Challenges:
- Volatility in oil and gas prices
- For a full detailed list, view our report.
Market Trends:
- Use of analytics in APC
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
