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 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.
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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.
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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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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