Distributed Control Systems Market to 2027 - Global Analysis and Forecasts by Component (Hardware, Software, Services); Industry Vertical (Power Generation, Oil and Gas, Pharmaceutical, Food and Beverages, Chemicals, Others)
The global distributed control systems (DCS) market was valued at US$ 2.04 billion in 2018 and is projected to account for US$ 3.90 billion by 2027; it is expected to grow at a CAGR of 8.2% during the forecast period. In line with the ongoing technological revolution, control over the complicated process is required to ensure decent performance, and therefore, the industrial automation systems are combined with advanced automation control technologies. DCS are the solutions that have been primarily developed for process automation, and thus, a rising focus on the same is driving the DCS market. Ability to analyze process outcomes for greater plant safety is one of the key factors contributing to the DCS market growth. Also, the systems are equipped with a desired secured system that can manage system functions, thereby providing a better control over factory automation. DCS are responsible for organizing a complete automation control structure into a unified system. DCS has varied applications in power generation, oil & gas, pharmaceuticals, food & beverages, and chemicals industries, among others.
The rising smart city and infrastructural developments across North America have been creating the huge opportunities for the business expansion of the DCS providers. Growing inclination toward the implementation of green industrialization and use of renewable energy in developed countries is another crucial factor boosting the DCS market in this region. With the trending infrastructure modernization, the use of smart devices and the Internet of Things (IoT) technology is also increasing to ensure real-time problem-solving, effectiveness, and controlled and easy management. The smart city projects have also gained momentum in other regions in the world. These projects also include the implementation of intelligent transport systems, smart waste management, and robust information technology that will improve the quality of life, along with creating greater employment opportunities. Analytical solutions are essential for making crucial decisions pertaining to these projects, as well as the development of the industrial sector; this is mainly due to the need to monitor expensive assets, manage price fluctuations, and reduce operational cost. This is also catalyzing the DCS market.
Several key players operating in the global DCS market are ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., NovaTech, LLC, Rockwell Automation, Schneider Electric SE, Siemens AG, Toshiba Corp, and Yokogawa Electric Corporation, among others.
The overall global DCS market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the DCS market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the DCS industry.
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