New ARC Advisory Group research reveals that the process simulation and optimization market is moving toward a consistent modeling environment for process and plant design. This can save significant time and cost on optimization projects.
“Emerging solutions in this market space enable engineers across process engineering, construction engineering, and plant engineering disciplines to work within a unified modeling environment for various types of simulations, both 2D and 3D, steady-state and dynamic, and then handover these models to operations following commissioning. This approach will help automate workflows, enable rich analytics, and eliminate the need to redevelop models for different uses,” commented ARC analyst, Peter Reynolds, the principle author of this market research.
From Sequential to Simultaneous Engineering
“Today, the platforming of process engineering simulation tools helps users create reusable workflows and automate data authoring within a broader platform for simulation. The new work processes enable people to focus on more value-adding activities and shorten the time needed to design and optimize plant processes by moving from sequential to simultaneous engineering,” added Reynolds
About the Process Simulation and Optimization Research
This ARC market research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year regional forecasts for the process simulation and optimization market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts by region, application, industry, customer tier, and sales channel.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) - personalized spreadsheet includes up to five years of historical data in addition to the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.