New York, May 18, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the global Distributed Control System Market size generated USD 27.19 billion in 2022 and is projected to generate USD 44.05 billion by 2030, witnessing a CAGR of 5.4% from 2023 to 2030. The research offers a detailed analysis of drivers, restraints, and opportunities to highlight changing market dynamics of the market. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine the fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 404 pages, accompanied by 311 tables and 258 figures, the report aims to become a source of guidance for market players, investors, and startups to devise strategies for the next few years and achieve sustainable growth.
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| Report Coverage | Details |
| Forecast Period | 2023–2030 |
| Base Year | 2022 |
| Market Size in 2022 | USD 27.19 Billion |
| Market Size in 2030 | USD 44.05 Billion |
| CAGR | 5.4% |
| No. of Pages | 404 |
| Tables | 311 |
| Figures | 258 |
| Segments Covered | Component, Application, Project Type, End User, And Region. |
| Drivers | The surge in investments in the manufacturing and processing industry |
| Growing consumer demand for clean and renewable energy | |
| Opportunities | Introduction of modular and flexible DCS systems |
The report offers a comprehensive analysis of the distributed control system market based on drivers, restraining factors, and opportunities. The market for distributed control systems (DCS) is growing as a result of increased investments in the manufacturing and processing sectors. There is a growing demand for sophisticated control systems that can help optimize production procedures and boost efficiency in the manufacturing and processing industry. This, in turn, drives the growth of the market. For instance, in November 2020, Mitsubishi Electric India launched the GOC43, an indigenous human-machine interface (HMI) controller designed and developed by the Factory Automation & Industrial Division at its R&D center in India. The device is compatible with most of the automation systems, and designed to withstand harsh industrial environments, making it ideal for use in various industries including manufacturing, pharmaceuticals, HVAC, and automotive.
Moreover, technological advancements such as the industrial internet of things (IIoT), cloud computing, virtualization, big data, analytics, and intelligent IIoT-connected sensors for asset condition monitoring, have significantly contributed to developments in DCS. The sector has benefited from investments in new automation technologies and procedures, owing to the increase in productivity, effectiveness, and dependability. For instance, in July 2021, Siemens collaborated with Dow to showcase the future of automation with a process industry test bed at MxD, a state-of-the-art advanced manufacturing institute and innovation center near downtown Chicago. This new testbed demonstrates how innovative software and IoT come together with hardware to accelerate digitalization for process industries.
Lead Analyst for Semiconductor & Electronics at Next Move Strategy Consulting, stated “The introduction of modular and flexible DCS systems can help improve production efficiency, reduce costs, and enhance product quality more effectively than the traditional system. This factor is expected to create new opportunities for the market in the coming years.”
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North America accounted for the highest share in 2022, and is expected to dominate throughout the forecast period, 2023–2030. The increasing adoption of DCS in the clean and renewable energy sector to track and manage various power generation, transmission, and distribution activities boost the growth of the market. For instance, in October 2020, the Strategic Innovation Fund (SIF) was established by the Government of Canada with the intention of fostering and accelerating innovation in technologies. In addition, around USD 5 billion was allocated to SIF's Net Zero Accelerator program, which assists projects that decarbonize heavy industry, boost clean technologies, and reduce greenhouse gas emissions. These factors further contribute toward the growth of the DCS market in this region.
Moreover, the presence of major market players such as ABB, Honeywell International, Inc., Rockwell Automation, Inc., and Emerson Electric Co., which are implementing various market strategies to maintain their dominance globally, also contribute toward the market expansion in the region. For instance, in December 2022, Emerson expanded its partnership with ZEDEDA. This company offers an edge computing platform for the deployment, management, and security of applications and services on distributed edge devices to modernize the industrial edge. As part of the collaboration, ZEDEDA's edge management and orchestration solution will be integrated into Emerson's DeltaV automation system, enabling Emerson’s customers to extend DeltaV to the distributed edge.
On the other hand, Europe is projected to register a steady growth rate throughout the forecast period, as countries such as Germany, France, and Sweden are extensively focused on Industry 4.0. This, in turn, contributes to high demand for DCS solutions across the region. Moreover, Europe has a large number of nuclear plants and oil & gas resources in countries, such as France, Germany, Russia, and Finland, which propels the market growth. According to the International Energy Statistics, in 2021, nuclear power plants in France produced 361 billion kilowatt-hours of electricity, representing 68% of the country's total annual electricity production. This percentage is the highest in the world, in terms of nuclear power generation. This factor increases the demand for DCS in the region and further contributes to the growth of the market.
The research offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate presence in the distributed control system market. This analysis is also helpful in determining the highest-revenue generating and fastest-growing segments and taking the next steps accordingly.
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The report offers an extensive analysis of the competitive landscape of the global distributed control system market. Some of the major market players in the manufacturing are Rockwell Automation, Inc., ABB Ltd., Honeywell International, Inc., Siemens AG, Emerson Electric Co., Yokogawa Electric Corporation, Schneider Electric, Toshiba Corporation, Mitsubishi Electric Corporation, Hitachi Ltd., Valmet Oyj, Ingeteam Corporacion S.A, General Electric Co., Omron Corporation, and Azbil Corporations.
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