Global
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.
Various factors are driving the growth of the Global
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.
Global
Distributed Control System 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. The key market players are engaging in various strategies such as
partnerships, acquisitions, and mergers to create a foothold in the market.
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