Distributed Control System (DCS) Market Outline
The research report by Market Research Future (MRFR) emphasizes that the global distributed control system market 2020 is slated to secure a substantial market valuation to rise from USD 16.9 billion in 2018 to USD 22.08 billion by 2023, at a moderate 5.30% CAGR over the review period.
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.
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Drivers and Restraints
The global distributed control system (DCS) market is poised to observe stellar growth due to the substantial rise of the power industry. In addition to this, the augmented capacity of power generation across the world, along with the expansion of the industrial infrastructure in emerging economies of the world, is also anticipated to fuel the market growth. In an attempt to lower the carbon footprint on the environment, increasing initiatives are being taken to generate power from renewable sources and nuclear energy sources. This is expected to contribute towards the growth of the global distributed control system (DCS) market share over the review period.
Moreover, the global distributed control system market analysis reveals that an increase in the demand for sales of energy-related products along with its retrofits, which is expected to provide substantial growth opportunities for the global distributed control system market in the foreseeable future. The internet-based systems offer remote polishing of operational functionalities and relatively easier integration, which is slated to boost the market.
Market Segmentation
The distributed control system market has been analyzed on the basis of component, application, and end-use.
Based on the component, the market is segmented into hardware, services, and software.
The application segment of the global market for the distributed control system market has been bifurcated into the continuous process and batch-oriented process.
Based on the end-user, the DCS market is segmented into power, oil and gas, chemical, pharmaceutical, food and beverage, metal and mining, paper and pulp, and others. The oil and gas sector is estimated to dominate the DCS market, driven by the growing need for a centralized control system and the monitoring of oil and gas production, which can be enhanced with DCS.
Regional Overview
The geographical overview of the global DCS market has been conducted in four major regions, namely North America, the Asia Pacific, Europe, and the rest of the world.
The Asia Pacific is likely to observe the fastest growing market over the review period, primarily driven by the increasing power generation capacities and growing demand for the efficient control system in the oil and gas and manufacturing sector. The rising industrialization globally, along with the adoption of innovative technological advancements, is also expected to drive the market over the review period. Moreover, improving economic dynamics in developing countries has increased the deployment of DCS in automobile industries, the oil and gas sector, food processing units, water management, and others.
North America is assessed as the second-largest market over the review period, driven by the established oil and gas industry in the region. Since numerous major processes in oil refining are regulated by DCS such as vacuum distillation, hydrocracking, Naptha hydrotreating, coking, among others, the demand for DCS has risen manifold. Moreover, the application from the onshore and offshore oil production from the Gulf of Mexico, and the presence of major companies in the US, is likely to impact the growth of the global distributed control system positively.
Competitive Landscape
The top market players acknowledged by MRFR in the global DCS market are Rockwell Automation (US), ABB (Switzerland), Emerson (USA), Siemens (Germany), Schneider Electric (France), General Electric (US), Honeywell International Inc. (US), Toshiba (Japan), Yokogawa (Japan), Azbil Corporation (Japan), Hitachi (Japan), and Metso Corporation (Finland).
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