The
global distributed control system market is anticipated to generate a CAGR of
5.8 % during the forecast period ending 2027; a report revealed by Market
Research Future (MRFR).
A
distributed control system is a computer-based system that actively manages the
process with numerous autonomous distributed control loops which are spread
throughout the system. These computerized devices are mainly used for improving
the reliability of control and process quality efficiently. These are preferred
to install in many industrial fields such as chemical plants, oil & gas
industries, food processing units, nuclear power plants, automobile industries
and many more. The DCS devices provide flexibility of design as well as
simplicity of operation which eventually enhances its value.
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Factors Driving the Market
The
current scenario of the distributed control system market is growing at a
higher CAGR and is expected to rise in the years to come. The factor behind it
is the inclination of various industries towards a distributed control system
which promises to make a positive pull to the market.
The
prosperity of end-user industries and applications such as petrochemical,
nuclear power, automobile, pharmaceutical, food processing and more coupled
with increasing economy favouring reduced installation costs and reliability in
a broader way. Some new comer industry
are also supporting the installation of these devices for efficient remote
monitoring, localizing of control functions and other. All these factors are
the critical drivers of the distributed control system market.
On
the flip side, the global distribution system market growth is restraint due to
some factors owing to the mobile interfaces, and remote management. The threat
of security breaches market growth. Moreover, the scenario of falling oil
prices and sluggish growth of the U.S economy has hindered the market to some
extent. However, it is assessed that there will be a substantial growth of the
global distributed control system market mostly due empowering of the power
sector and integration of power generation capacities.
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Industry Segmentation
The
global distributed control system market has been segmented based on industry,
component, and application.
Based
on industry, the market is sub-segmented into oil & gas, power generation,
chemicals, metal & mining, food & beverages, and others. Of these,
power generation is holding the largest market share, due to increasing
investment in renewables, power infrastructures, and power generation.
Based
on the component, the market has been segmented as hardware, software, and
services, where software usage has the most demanding status in the
distribution control system and is expected to take the market to sky heights
in the coming years.
Based
on application, the market is further segmented by continuous and batch. Of
them, the continuous segment is expected to lead the market growth in the
coming years as industries such as oil & gas, power generation, and water
& wastewater treatment employ the same process.
Key Market Players
Dominant
players in the distributed control system market include ABB Ltd.
(Switzerland), Emerson Electric Co. (U.S.), Siemens AG (Germany), Schneider
Electric (United Kingdom), Honeywell International Inc. (U.S) and Yokogawa
Electric Corporation (Japan) and others.
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