According to MarketIntelReports “Global Process Controller Market Research Report 2016”:
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The Process Controller Market consists of a broad range of techniques and technologies that enhances the performance and economy in the industries. It is implemented in the process industries. The process controller improves the organisation’s efficiency, productivity, and reduces the downtime of the industry. There has been continuous pressure on the process industries for improving the production process without compromising on the quality of the product. This has led to the development of the process control system. Many industries like chemical, oil and gas, petrochemical power, pharmaceutical, pulp and paper, food and beverage use the process automation for optimizing their resource utilization and improving their organisational productivity.
Scope & Regional Forecast of the Process Controller Market
The Process Controller Market has many advantages like reduction in power consumption, improved production capacity, improved monitoring of key performance indicators, reduction in process settle time, etc. The other factors driving the market are development of infrastructure, IT services and hardware services. Increasing use of the process control equipment in the process industries are driven due to the need for reducing emissions, increased operational flexibility and reliability, and reduced operational costs. The only restraint faced by the market is the reluctance to use the process controllers over conventional technology due to the lack of proper knowledge.
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The Process Controller Market is expected to grow due to the growing importance of the cost reduction in the process industry. The industrial controls consist of broad range of technologies and techniques that enhances the efficiency of the plant operation and process management. The government regulation for quality has made the market very competitive. The players are therefore compelled to reduce the operation cost for increasing the profit margin. Development of information technology, hardware services and infrastructure is expected to drive the growth of the process control instruments in the next seven years.
The Process Controller Market offers benefits like improved yield, increased throughput, reduced energy usage. It even improves the quality consistency. The industrial process control provides operational flexibility, decreased operating costs, and improved stability. Benefits such as improved operator effectiveness, better information, and reduced downstream unit variability is expected to propel the demand of the market.
North America and Asia Pacific are expected to be the major regional segments in the Process Controller Market during the forecast period due to the rising energy efficient production and infrastructure development. India and China are expected to be the main revenue areas in terms of process control instrumentation.
Decrease in the prices of oil and gas worldwide can also enhance the Process Controller Market growth. This has made the oil and gas vendors to reduce their manufacturing in order to equalize their investments. The need to bring down the costs has made them adopt the control process for achieving efficiency and reducing the production cost.
Segmentations & Key Players Involved in the Process Controller Market
The Process Controller Market can be broken down into various segments as follows:
- Type- Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, and Sequential Control.
- Application- Oil & Gas, Petrochemicals, Pharmaceuticals, Food & Beverage, Pulp & Paper, and Power.
- Region- North America (U.S., Canada), Latin America (Mexico. Brazil), Western Europe (Germany, Italy, France, U.K, Spain), Eastern Europe (Poland, Russia), and Asia Pacific (China, India, ASEAN, Australia & New Zealand).
Some of the key players involved in the Process Controller Market are as follows:
- ABB
- Honeywell International
- Schneider Electric
- Siemens
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