Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Distributed Control System Market by Component (Hardware, Software, Services), Application (Continuous, Batch-Oriented), End-user (Oil & Gas, Power Generation, Chemical, Food & Beverages, Pharmaceutical, Metal & Mining), Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global distributed control system market is estimated to grow from USD 19.9 Billion in 2023 to USD 26.7 Billion by 2028; it is expected to record a CAGR of 6.1%
This robust growth can be attributed to multiple driving forces, including the flourishing power sector, intensified upstream and downstream activities within the oil & gas industry, and a surge in the cardboard and paper production processes within the pulp & paper industry. The integration of distributed control systems within these sectors facilitates the monitoring and regulation of diverse processes and operations.
Among the various geographical regions, North America is anticipated to emerge as the second-largest distributed control system market throughout the forecast period. In this region, the utilization of DCS solutions has observed substantial growth across industries such as oil & gas, power generation, and water & wastewater treatment.
Notably, the United States has seen a remarkable uptake of distributed control systems in the power generation sector, where these systems play a pivotal role in identifying, diagnosing, and rectifying faults within grid infrastructures.
Within the distributed control system market, a handful of major players reign supreme, showcasing a wide regional presence. Prominent industry names include Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Emerson Electric Co. (US), and Honeywell International Inc. (US).
These industry leaders employ various strategic approaches, encompassing new product launches, contractual agreements, mergers and acquisitions, as well as targeted investments and expansions, to further consolidate their positions in this thriving market landscape.
Software: The largest segment of the distributed control system market, by component
Based on component, the distributed control system market has been split into three types: Software, Hardware, and Services. The Software segment is expected to be the largest segment during the forecast period.
Upgrades to existing software, increased use of distributed control systems in cloud computing technologies, and upcoming technologies such as IoT are some of the major drivers of the software segment in the DCS market.
Continuous Process segment is expected to be the largest segment during forecast period based on application
By application, the distributed control system market has been segmented into continuous process and batch-oriented process. The continuous process segment is expected to lead the distributed control system market during the forecast period.
A continuous process is an industrial manufacturing or production process that runs continuously with a continuous flow of raw materials and produces a continuous stream of output without interruptions.
The integration of distributed control systems in nuclear and renewables sectors in the power generation industry and upstream and downstream activities in the oil & gas industry are the major factors driving the continuous process segment in the distributed control system market.
By end-use industry, the Oil & Gas segment is expected to be the largest segment during the forecast period.
Based on end-use industry, the distributed control system market is segmented into Oil & Gas, Power Generation, Chemicals, Food & Beverages, Pharmaceutical, Metals & Mining, Paper & Pulp, and Others.
The Oil & Gas segment is expected to be the largest segment of the distributed control system market during the forecast period. DCS is used to control drilling activities, manage wellheads, and monitor production facilities in upstream exploration and production.
On offshore platforms and onshore production sites, DCS systems collect real-time data from sensors and control diverse equipment like as pumps, valves, and compressors. These factors are projected to drive the oil & gas industry in distributed control system market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 262 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $19.9 Billion |
| Forecasted Market Value (USD) by 2028 | $26.7 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Premium Insights
- Need to Reduce Carbon Emissions to Propel Market Growth During 2023-2028
- Asia-Pacific to Register Highest CAGR in Distributed Control System Market During Forecast Period
- Software Segment and China Were Largest Shareholders of Distributed Control System Market in Asia-Pacific in 2022
- Software Segment Held Largest Share of Distributed Control System Market in 2022
- Continuous Process Segment Captured Major Market Share in 2022
- Oil & Gas Segment Accounted for Largest Share of Distributed Control System Market in 2022
Market Dynamics
Drivers
- Booming Power Sector and Augmented Power Generation Capacities Worldwide
- Growing Industrial Infrastructure for Power Generation in Developing Countries
- Increasing Use of Renewable Energy for Power Generation
Restraints
- Availability of Low-Cost Alternatives
- Sluggish Response Time of Distributed Control Systems
- High Degree of Redundancy
Opportunities
- Changing Face of Manufacturing Industry in Middle East
- Adoption of Industrial Internet of Things (IIoT) for Real-Time Decision-Making and Increasing Use of 5G Technology in Industrial Environments
- Development of Power Grid Market
Challenges
- Stagnation in Oil & Gas Industry
- Slowdown in Mining Industry in Asia-Pacific, Americas, and Africa
Case Study Analysis
- Abb Helped Colombian Oil& Gas Company Upgrade Control Systems
- Two Malaysian Power Plants Installed Ge's Combined-Cycle Heavy-Duty Gas Turbines to Achieve Emissions Reduction
- Chemical Plant in US Chose Abb's System 800Xa Performance Services to Improve System and Process Performance
Company Profiles
Key Players
- Abb
- Siemens
- Schneider Electric
- Emerson Electric Co.
- Honeywell International Inc.
- Yokogawa Electric Corporation
- General Electric
- Rockwell Automation
- Valmet
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Azbil Corporation
- Hitachi, Ltd.
- Hollysys Group
- Andritz
- Omron Corporation
Other Players
- Concept Systems Inc
- Zat A.S.
- Novatech, LLC.
- Ingeteam
For more information about this report visit https://www.researchandmarkets.com/r/6lrnmt
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