Global Distributed
Control Systems (DCS) Market is forecasted to
reach $24 billion by 2024 from $17 billion in 2016; growing at a CAGR of 4.5%
from 2016 to 2024. The distributed control systems (DCS) market is majorly
driven by the following driving factors such as cost & time effectiveness,
rising demand for energy generation based on renewable resources and rise of
open sources DCS solution. However, decreased growth in industrial sector might
hinder the growth of the market. Furthermore, Advanced technologies and growing
industrialization would provide growth opportunities for the market.
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Component,
end-user and geography are the key segments of the global distributed control
systems (DCS) market. Component segment has been segmented into DCS software,
DCS hardware and DCS services. Additionally, end-user segment includes pulp
& paper, chemicals, pharmaceuticals, oil & gas, metal & mining, water
& wastewater management, power and others. Oil and gas dominated the end-user
segment, with highest market share in the year 2016.
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The
global distributed control systems (DCS) market by geography is bifurcated into
North America, Europe, Asia-Pacific and RoW. Asia-Pacific held the highest
market share of 34.1% in 2016, followed by Europe with 32%. Asia-Pacific region
also witnessed fastest CAGR of 5.7% over the forecast
period, expanding manufacturing industries.
Various
strategies have been adopted by the market players to boost their geographical
presence and product portfolio. The major players in the distributed control
systems (DCS) market include Schneider Electric SA, Honeywell International
Inc., NovaTech Process Solutions LLC, Yokogawa Electric Corporation, ABB Ltd.,
Rockwell Automation Inc., Siemens AG, Metso Corporation, and, Emerson Electric
Co., among others.
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