Global Distributed Control Systems Market in Power Industry 2015-2019
A DCS is an automated control system that, rather than being centralized, is distributed across an entire organization. DCS is distributed in such a way that each component or sub-system of a manufacturing plant is controlled by one or more controllers, thereby providing instructions to different parts of the plant. Thus, instead of having a centrally located control system, each section of the plant has its own control operations. DCS solutions, hence, enable the effective and efficient control and management of the entire plant. Further, they facilitate a reduction in downtime errors and an increase in the productivity of the plant. DCS is adopted by industries that require multi-step processing such as power, pharmaceuticals, oil and gas, pulp and paper, food and beverage, chemical, automotive, and packaging.
Technavio's analysts forecast the Global DCS market in the power industry to grow at a CAGR of 3.03% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the Global DCS market in the power industry during the period 2015-2019. To calculate the market size, the report considers revenue generated from the following: sales of hardware and software licenses, renewal of software licenses, upgrades of existing solutions, maintenance and services. It also presents the vendor landscape and a corresponding detailed analysis of the major vendors in the market. In addition, it discusses the major drivers that influence the growth of the market.Technavio's report, Global DCS Market in Power Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the global DCS market in the power industry and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Distributed Control Systems (DCS) Market in Power Industry 2015-2019
Technavio recognizes the following companies as the key players in the Global Distributed Control Systems (DCS) Market in Power Industry: ABB, Emerson, Honeywell, Siemens and Yokogawa
Other Prominent Vendors in the market are: GE, Metso, Mitsubishi, Omron, Rockwell, Schneider and Toshiba
Commenting on the report, an analyst from Technavio’s team said: “The flourishing economy in developing countries has been a major boost for increasing purchasing capacity, and, in turn, increase power consumption. This will shift focus on investments in new power plants, to comply with increased power requirements, resulting in increased demand for DCS solutions.”
According to the report, surge in outsourcing is an important market growth driver. India and China are the ideal outsourcing destinations due to the easy availability of low-cost labor and flexible foreign direct investment (FDI) policies. Manufacturing activities vying for international standards are fully automated, and are therefore, dependent on electricity. Thus, an increase in outsourcing of manufacturing activities to APAC will increase the demand for electricity. This is expected to drive the demand for DCS solutions in the power industry.
Further, the report states that end-users, especially in developing countries, are hesitant to adopt DCS solutions in process industries.
ABB, Emerson, Honeywell, Siemens, Yokogawa, GE, Metso, Mitsubishi, Omron, Rockwell, Schneider, Toshiba
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