Distributed Control System Market Analysis, Growth Prospects to 2023
Posted by Anvi on March 18th, 2020
Distributed Control System Market Analysis
The global distributed control system market is predicted to grow at a 5.30% CAGR over the forecast period (2018-2023), reveals the new Market Research Future (MRFR) report. Distributed control systems or DCS are computerized control systems for plants or process generally with several control loops. It reduces installation costs and increases reliability by localizing the control function close to the process plant through supervision and remote monitoring. DCS has a wide range of applications including automobile industries, water management systems, nuclear power plants, food processing units, oil and gas industries, and chemical plants.
Various factors are driving the growth of the Distributed Control System Market Analysis. These factors, in accordance with the Market Research Future (MRFR) report, include booming power sector, improved power generation capacities, growing industrial infrastructure, increased use of nuclear and renewable energy for power generation, technological advancements, and rapid industrialization.
Global Distributed Control System Market Segmentation
The Market Research Future report offers a wide segmental analysis of the distributed control system market based on component, end use, and application.
By component, the distributed control system market is segmented into services, software, and hardware. Of these, the software segment will have the largest share in the market over the forecast period.
By application, the distributed control system market is segmented into batch-oriented process and continuous process. Of these, the continuous process segment will dominate the market over the forecast period.
By end use, the distributed control system market is segmented into paper and pulp, metals and mining, food and beverage, pharmaceutical, chemicals, power generation, oil and gas, and others. Of these, the oil and gas segment will have the maximum share in the market over the forecast period.
Leading players profiled in the distributed control system market report include Metso Corporation (Finland), Azbil Corporation (Japan), Hitachi (Japan), Toshiba (Japan), Yokogawa (Japan), Honeywell International Inc. (US), General Electric (USA), Rockwell Automation (US), Siemens (Germany), Schneider Electric (France), Emerson (USA), and ABB (Switzerland), among others. The key market players are engaging in various strategies such as partnerships, acquisitions, and mergers to create a foothold in the market.
Based on the region, the distributed control system market report covers growth opportunities and the latest trends across North America, South America, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA).
Of these, Asia Pacific will spearhead the market over the forecast period. It is estimated to grow at the fastest pace owing to growing power generation capacities coupled with efficient control system in oil and gas as well as manufacturing industry.
The distributed control system market in North America will have the second largest share in the market over the forecast period. This is owing to the immense growth in the oil and gas industry. The key processes in oil refining which are controlled by distributed control system include cooking, naphtha hydrotreating, hydrocracking, vacuum distillation, among others.
The distributed control system market in Europe will have moderate growth over the forecast period due to the slump in the economy.
The distributed control system market in the Middle East and Africa is predicted to have widespread adoption of DCS over the forecast period.
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About the AuthorAnvi
Joined: October 25th, 2019
Articles Posted: 461
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