Distributed
Control System Market Scenario
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 global DCS market is anticipated to capture a
CAGR of 5.30% over the forecast period of 2016-2023, affirms Market Research
Future (MRFR) in a detailed study. MRFR further asserts that the DCS market is
likely to reach USD 4,411 bn by the end of 2023.
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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.
Segmentation
The global distributed
control system market has been segmented based on component, application, and
end-use.
By component, the
distributed control system market has been segmented into hardware, software,
and services.
By application, the
distributed control system market has been segmented into continuous process
and batch-oriented process.
By end-use, the distributed
control system market has been segmented into oil & gas, power generation,
food & beverage, chemicals, pharmaceutical, metal & mining, paper &
pulp, and others.
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Regional
Analysis
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.
Competitive
Landscape
Emerson (USA), Schneider
Electric (France), Rockwell Automation (US), General Electric (US), Yokogawa
(Japan), Metso Corporation (Finland), Siemens (Germany), Azbil Corporation
(Japan), Honeywell International Inc. (US), Toshiba (Japan), Hitachi (Japan),
and ABB (Switzerland)
are the
distinguished players in the distributed control system market.
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