Real-time process optimization market to grow

Source: ARC

Sep 23, 2011

The real-time process optimization and training (RPO) market is expected to grow at a compound annual growth rate (CAGR) of over 9% over the next five years. The market was slightly more than $1 billion in 2008, but dropped during the global recession to slightly over $950 million in 2010. The market is expected to reach more than $1.5 billion in 2015, according to a new study by ARC Advisory Group, “Real-time Process Optimization and Training Worldwide Outlook”.

The RPO market consists of three unique types of applications: advanced process control, on-line optimization, and training simulation and control validation software. Advanced process control includes model-based software to direct and control process operations. On-line optimization continually monitors the state of the process and through a reference model predicts an optimum operation path. Training simulation and control system validation are real-time dynamic simulators designed to train process operators and verify control system functionality.

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