Distributed Control
Systems (DCS) Market Analysis
The
global Distributed
Control Systems (DCS) 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. 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.
Distributed Control
Systems (DCS) 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.
Regional Analysis
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 burgeoning
demand for distributed control system from the offshore and onshore oil
production in the Gulf of Mexico is predicted to impact the distributed control
system market positively over the forecast period.
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.
Key Players
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.
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