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Distributed Control System Market Size to Hit USD 24.82 Billion by 2026 | Exhibit a CAGR of 5.6%

·7-min read
Fortune Business Insights
Fortune Business Insights

According to Fortune Business Insights, the global distributed control system market was valued at USD 16.18 billion in 2018, and is projected to reach USD 24.82 Billion by 2026, growing at CAGR of 5.6% from 2021 to 2026. Distributed Control System Market to gain from the urgent demand for renewable energy.

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.


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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.


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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

  • Hardware

  • Software

  • Services

By End-User

  • Oil & Gas

  • Chemicals

  • Power Generation

  • Pharmaceutical

  • Food & Beverage

  • Others

By Geography

  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, South East Asia, and Rest of Asia Pacific)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)


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.


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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…


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