Distributed Control System Market
Analysis
The global distributed control system (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.
Global Distributed Control System Market
Segmentation
The Market Research Future report offers a wide
segmental analysis of the DCS
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.
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.
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 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.
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