Real-time process optimisation market looking stronger

Dedham, Massachusetts - Demand for real-time process optimisation and training (RPO) market is to grow at a compound annual growth rate (CAGR) of over 9% to exceed $1.5 billion in 2015, the ARC Advisory Group forecasts.

The RPO market consists of three unique types of applications: advanced process control (APC), on-line optimisation, and training simulation and control validation software. It was worth around $1 billion in 2008, but dropped during the global recession to slightly over $950 million in 2010, the market analysis firm estimates.

Uptake for these technologies is now set to rebound due to a need for safer, more efficient operations across the global process industries continues, according to a new ARC study, called Real-time Process Optimization and Training Worldwide Outlook.

“The economic slowdown adversely affected growth but the market will rebound as many of the issues facing manufacturers, like reducing costs, still require solutions such as those offered by RPO suppliers,” Dick Hill, vice president and co-author of the study.

Global growth, notes ARC, is driven by developing regions of the world like China, India, Brazil, Russia, and other parts of eastern Europe along with the Middle East.

However, process operators everywhere, are focusing on efficiency improvements and their customers’ needs, which often requires improving agility. This, said ARC, means an increasing role for APC and optimisation solutions. APC implementations generally offer payback in less than a year and often much sooner, said Hill.

’Manufacturers are increasingly recognising these benefits and understand that they must pursue APC solutions or risk severe competitive disadvantage to those that have already adopted these solutions,” said the report.