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APC software is an integrated tool used to increase the efficiency of process management and plant operations. Many organizations across numerous process industries such as chemical, oil and gas, petrochemical, power, pharmaceutical, pulp and paper, and food and beverage use APC software to optimize their resource utilization and improve their organizational productivity.
Technavio’s market research analysts predict the global APC software market in the oil and gas industry to grow at a CAGR surpassing 7% during the forecast period.
One of the major factors contributing to the growth of the market is the decreased prices of oil and gas worldwide, which has driven oil and gas vendors to reduce their manufacturing so that they can equalize their spending. This need to reduce costs has made them adopt APC in their production process to achieve maximum efficiency and reduce the production cost.
In 2014, the EMEA led the market contributing more than 47% of the market share, followed by the Americas and APAC. Majority of the demand for APC in the oil and gas industry is expected to surface from the Middle East, as this region has been one of the major exporter of oil.
The global APC software market in the oil and gas industry is dominated by a few major players and because of the complex operation nature and the need for technical expertise in the field, there are no small and medium players in the market.
ABB, one of the leading players, has a huge presence in the market because it provides compact and scalable APC software.
Top vendors in this market are -
Other prominent vendors included in this report are Aspen Technology, GE, Rockwell Automation, and Yokogawa Electric.
Technavio's analysts emphasize the use of analytics in APC, which is an upcoming trend for decision making across industries and its use will have a positive impact on the global APC software market. Many of these analytical software solutions are designed and developed to help companies improve decision making, minimize errors, and find the cause of a problem.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the advanced process control software market in oil and gas industry. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Market drivers
PART 08: Impact of drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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