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.
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A distributed control system (DCS) controls various complex processes of plants with the help of a suite of configuration tools to provide flexibility and simplicity to processes. DCS allows central control over components and processes and helps increase capacity, ease maintenance, and meet EPA requirements. Rapid industrialization on a global scale, especially in the APAC region has led to substantial growth in the global DCS market.
The expansion of the power and energy sector has provided favorable grounds for the growth of the DCS market. The burgeoning population and its subsequent energy requirements have created relentless pressure to increase power generation capacities as well as reduce energy consumption in the industrial sector to make significant cost saving.
The oil & gas industry is also contributing to the growth of the DCS market. Various processes of the oil & gas industry such as vacuum distillation, hydrocracking, naphtha hydrotreating, and coking require DCS which generates massive demand within the market.
Leading Players analysed in the Distributed Control System Market are:
- 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)
Global Distributed Control System Industry Segmental Overview:
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.
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.
By application, the distributed control system market is segmented into batch-oriented process and continuous process.
By region, the distributed control system market has been segmented into North America, South America, Asia Pacific (APAC), The Middle East & Africa (MEA), and Europe.
The APAC is the largest distributed control system market. Fast track industrialization in the region has necessitated the need to increase power generation capacity to align with the towering energy demand.
Additionally, growing awareness regarding energy conservation and the need to provide uninterrupted power supply to various needs of the burgeoning population of the region. China is the major contributor to the distributed control system market. China has become the global manufacturing hub and deploys distributed control system extensively to improve productional efficiency. Besides, emerging countries such as Australia, Indonesia, and Thailand also have huge potential for the growth of the distributed control system market. The APAC market accounts for almost 31.40% share of the global market.
North America is the second largest distributed control system market. The prolific growth of the oil & gas industry translates into huge demand within the distributed control system market. Onshore and offshore oil drilling activities in the Gulf of Mexico has also reflected positively on the growth of the market.
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.
Browse in-depth insights of Distributed Control System Market Report at: https://www.marketresearchfuture.com/reports/global-distributed-control-system-market-1698
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