The process engineering simulation (PES) market is at an inflection point. Artificial intelligence, advanced analytics, and cloud computing are disrupting this market by changing the engineering workflow. Cloud computing accelerates the opportunities for improvement in design and operations, enabling engineering organizations to create value from Industrie 4.0-type agility and digitization by Software-as-a-Service (SaaS) models.
Process engineering is moving beyond traditional engineering designs to asset lifecycle optimization. SaaS leverages the respective strengths of both engineering simulation and cloud infrastructure providers to transform simulation to a higher value agile service, to provide scalable web access for legacy software, and to allow users to retain valuable intellectual property (IP) for engineering.
Automating Those Engineering Deliverables
Leaders in the process engineering simulation market focus on easy-to-use models with the ability to create, tune, and visualize with equipment-specific analytics. Automated creation of engineering deliverables like process flow diagrams, piping and instrument diagrams, and equipment data sheets dramatically simplifies the hand-over between project engineering groups and ultimately to the owner-operator.
The cloud deployment approach can also accelerate the engineering process, from the initial design feasibility performed by the engineering and procurement contractors (EPCs), through front-end engineering design, detailed design, installation and commissioning, and – ultimately – through operations and decommissioning, thus bridging the gap between design and operations.
AI-enabled Engineering Guidance
The use of AI, on the other hand, creates the potential for value by embedding the expert into the assets, through in-context, AI-enabled cognitive guidance and best practices. With the loss of skilled labor in the industry and retiring engineering talent, PES providers are working to democratize skills with AI.
For more information please see the ARC Advisory Group Global Market Analysis Report at https://www.arcweb.com/market-studies/process-simulation-and-optimization.