The global distributed control systems market is majorly driven by emergence of open sources DCS solutions, growth in energy generation based on renewable resources, and cost & time effectiveness. However, slow industrial growth in developed economies would act as a restraint for the market. Rapid industrialization and technological advancement would provide several growth opportunities for the global DCS market in the coming years.
Global Distributed Control Systems (DCS) Market was valued at $17 billion in 2016 and is expected to reach $24 billion by 2024; growing at a CAGR of 4.5% from 2016 to 2024. In geographical segment, Asia-Pacific and Rest of the world (RoW) anticipated to grow at a fastest CAGR of 5.7% and 4.4%, respectively, during the forecast period 2016-2024.
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Emergence of open sources DCS solutions, growth in energy generation based on renewable resources, and cost & time effectiveness are the major key factors propelling the growth of global DCS market. However, sluggish industrial growth in developed countries may hinder the growth of the market.
The global distributed control systems (DCS) market is segmented on component and end-user. The DCS market segmented by component is further categorized as DCS software, DCS hardware, and DCS services.
In component segment, DCS software is assumed to hold the largest market share, in the year 2016. However, during the forecast period, DCS hardware is anticipated to attain the fastest CAGR, driven by increase in number of system upgrades and system.
Furthermore, end user segment includes oil & gas, power, chemical, pharmaceutical, pulp & paper, metal & mining, water & wastewater management, and others. Oil & gas dominated the end user segment driven by increased demand for innovative systems to control and monitor activities.
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By Geography, the global DCS market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. However, in the year 2016, Asia-Pacific dominated the market share with 34.1%, owing to the growth in manufacturing industries in developing countries such as India and China.
Due to technological advancement and decline in greenfield investments, Europe accounted for the second largest market with the share of 32%. In terms of growth, Asia-Pacific is expected to attain fastest CAGR of 5.7% from 2016 to 2024.
The major players in the distributed control systems market include, Rockwell Automation Inc., Siemens AG, Emerson Electric Co., Honeywell International Inc., Yokogawa Electric Corporation, NovaTech Process Solutions LLC, Metso Corporation, ABB Ltd., Schneider Electric SA, and Emerson Electric Co., among others.
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Scope of Distributed Control Systems Market
- DCS hardware
- DCS software
- DCS services
- Oil & Gas
- Water & Wastewater Management
- Metal and Mining
- Pulp & Paper
- North America
- South America
- Middle East
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