New analysis from Frost & Sullivan ( http://www.frost.com), World Advanced Process Control, Process Optimization and Simulation Markets, reveals that the market earned revenues of $601.5 million in 2005 and estimates this to reach $1,167.5 million in 2012.
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The rate of adoption of these solutions has been largely consistent in oil and gas, refining and petrochemicals. The considerable demand not withstanding, solution providers should effectively tackle issues related to customer relationships and return on investments.
Customers are seeking solutions that can help them achieve greater value from their equipment throughout their lifecycle. With process variables changing constantly and adding up to a large number, customers are demanding devices that are robust and can complement each other to optimize the process consistently.
However, popular perception of APC being expensive and more suited to large-scale applications used in huge plants such as oil refineries and petrochemical units is hampering market participants' efforts to offer superior systems. End users feel apprehensive about not only the significant installation charges but also the cost of maintenance.
"The vendors of advanced process solutions are hoping to overcome the cost barrier by incorporating more customized solutions for every end-user industry," says Frost & Sullivan Industry Manager Kishan M. Bhat." While the range of applications for APC units in traditional areas such as refineries and chemicals is immense, the scope of these solutions is growing in new areas including pulp and paper and pharmaceuticals."
End users have to be educated about the large-scale benefits of using APC, optimization and simulation systems, especially since unsophisticated control systems and allied technologies still govern manufacturing facilities in many key industries. They should be made aware that the advanced solutions will enable them to deal competition and cost pressures better by reducing downtime and thereby, saving time and costs.
"Most of the APC vendors regularly organize end-user forums and expos to increase awareness," notes Bhat. "These provide a platform for the customers to interact and convey their feedback."
While APC, optimization, and simulation systems already serve the chemicals, and oil and gas verticals, market participants are working on extending their reach to even non-conventional end users by offering innovative solutions.
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World Advanced Process Control, Process Optimization and Simulation Markets
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