Pune, India, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The global distributed control system market size is expected to grow from USD 16.18 billion in 2018 to USD 24.82 billion by 2026, exhibiting a CAGR of 5.6% during the forecast period. The power industry is experiencing rising technological advancements at present. It is one of the most vital factors that is likely to augment the DCS market growth in the coming years. New technologies are aiding in improving the reliability, efficiency, and productivity in this sector, states Fortune Business Insights™, in its report titled “Distributed Control System Market, 2021-2026.”
Growing power requirements of end users and increasing awareness about emissions-free electricity will push for deployment of distributed management systems on the global market. Rising oil production and increasing energy demand will drive demand for the deployment of DCS at scales across the oil and gas and electricity sectors, which is expected to boost the market in the forecast period.
Key industry developments:
Rockwell Automation, unveiled its latest DCS system called PlantPAx to consolidate servers in a single machine, leveraging both IEC-61850 and Ethernet/IP standards.
ABB bagged a new contract from China to control its first ever commercially operated concentrated solar power plant. ABB is set to deliver its ‘Ability Symphony Plus’ DCS to maintain production.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/sample/distributed-control-system-market-101344
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2019 to 2026 CAGR | 5.6% |
| 2026 Value Projection | USD 24.82 billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 16.18 billion |
| Historical Data for | 2015-2017 |
| No. of Pages | 220 |
| Segments covered | By Component, By End-User, and Regional Forecast |
| Growth Drivers | Rising Investment for Developing New Technologies to Boost Growth |
| Software Segment to Gain Maximum Share Backed by their Extensive Usage in DCS |
Drivers & Restraints-
Rising Investment for Developing New Technologies to Boost Growth
The power industry is experiencing rising technological advancements at present. It is one of the most vital factors that is likely to augment the DCS market growth in the coming years. New technologies are aiding in improving the reliability, efficiency, and productivity in this sector. Apart from that, in the processing and manufacturing industry, the increasing investment in the development of unique technologies for power plants would affect the market positively.
Furthermore, the high demand for I/O and proliferation of digital networks in the process control system would transform the market. Important changes in technologies, namely, field networks, control networks, and physical I/O are gradually remoulding with the emergence of smart IIoT-connected sensors, analytics, big data, cloud computing, Industrial Internet of Things (IIoT), and virtualization. However, underinvestment in infrastructure and shale oil exploration may hamper market growth.
Click here to get the short-term and long-term impact of COVID-19 on this market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/distributed-control-system-market-101344
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Segment-
Software Segment to Gain Maximum Share Backed by their Extensive Usage in DCS
Based on component, the market is grouped into services, hardware, and software. The software segment held 45.9% distributed control system market share in 2018. It occurred because of the increasing usage of these software solutions in DCS to gain several benefits, such as easy maintenance, smooth operation, and intelligent control. These solutions consist of equipment simulator, system configurator editor, operator interface, and system management tool. This segment is expected to gain the maximum share during the forecast period.
| Segmentation | By Component
|
By End-User
| |
By Geography
|
Regional Analysis-
Rising Oil & Gas Production & Exploration Activities to Drive Growth in Europe
In terms of region, the market is divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. Out of these, North America generated USD 5.10 billion DCS market revenue in 2018 stoked by the increasing consumption of power in Canada and the U.S. The oil and gas sector is also expanding in this region.
Europe is set to experience healthy growth backed by the rising oil and gas production and exploration activities in countries, namely, Italy, Spain, and Germany. Europe is expected to show a healthy growth in the overall market according to market study. It will assist the players of the market in adopting different strategies for sustainable growth. These data, statistics, and insights will prove useful to market players, shareholders, new entrants, and investors in getting market insights and adopting different strategies to grow
Latin America and the Middle East & Africa, on the other hand, are mainly aiming to surge their fossil fuel and renewable energy production. They are doing so to fulfil the unmet demand for power.
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/distributed-control-system-market-101344
This Report Answers the Following Questions-
- What are the distributed control system market trends, growth drivers, and barriers?
- How will the market be affected in the near future?
- Will the consumer behaviour change during the forthcoming years?
- Which region is expected to lead the market by generating maximum revenue?
- What are the important strategies followed by companies to boost sales?
Competitive Landscape-
Key Players Aim to Gain New Contracts for Intensifying Competition
The market houses many enterprises that are striving persistently to bag new contracts and develop state-of-the-art products. They are also investing hefty amounts of money to upgrade their existing products and are adopting the strategy of mergers and acquisitions.
List of companies present in the DCS market. They are as follows:
- ABB (Switzerland)
- Schneider Electric (France)
- Emerson (US)
- Siemens (Germany)
- Honeywell Process Solutions (US)
- GE Power (US)
- Rockwell Automation (US)
- Toshiba Corporation (Japan)
- Hitachi (Japan)
- Valmet (Finland)
- Yokogawa (Japan)
- Azbil Corporation (Japan)
- NovaTech LLC (US)
Scope of the Report:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Distributed Control System Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Hardware
- Software
- Services
- Market Analysis, Insights and Forecast – By End-User
- Oil & Gas
- Chemicals
- Power Generation
- Pharmaceutical
- Food & Beverage
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America Distributed Control System Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Hardware
- Software
- Services
- Market Analysis, Insights and Forecast – By End-User
- Oil & Gas
- Chemicals
- Power Generation
- Pharmaceutical
- Food & Beverage
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
Continued…
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/distributed-control-system-market-101344
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
