News

Jul 17, 2023

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%

during the forecast period. The growth is attributed by the several factors such as booming power sector, increased upstream and downstream activities in oil & gas industry, and increased cardboard

during the forecast period. The growth is attributed by the several factors such as booming power sector, increased upstream and downstream activities in oil & gas industry, and increased cardboard and paper production process in pulp & paper industry.

New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Distributed Control System Market by Component, Application, End-user, Region - Global Forecast to 2028" - https://www.reportlinker.com/p05169957/?utm_source=GNW Distributed control systems are used in these industries to monitor and control various processes and operations.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 applicationBy 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.North America is expected to be the second-largest region in the distributed control system marketNorth America is expected to be the second-largest distributed control system market during the forecast period.The use of DCS solutions in industries such as oil & gas, power generation, and water & wastewater treatment has grown significantly in the US.In the power generation industry, distributed control systems have been introduced for new applications to identify, diagnose, and repair faults in the grid infrastructures.Breakdown of Primaries:In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:• By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%By Region: Asia Pacific- 65%, North America- 10%, Europe- 10%, South America- 5%, Middle East- 5%, Africa-5%Note: Others include sales managers, engineers, and regional managers.Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 millionThe distributed control system market is dominated by a few major players that have a wide regional presence. The leading players in the distributed control system market are Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Emerson Electric Co. (US), and Honeywell International Inc. (US). The major strategy adopted by the players includes new product launches, contracts & agreements, merger and acquisitions, and investments & expansions.Research Coverage:The report defines, describes, and forecasts the global distributed control system market by type, portability, application, and region.It also offers a detailed qualitative and quantitative analysis of the market.The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the distributed control system market.Key Benefits of Buying the Report• Investments in conventional power generation in Middle Eastern countries such as Egypt and Oman and renewable power generation in Asia Pacific and African countries such as China, India, and South Africa have been planned to meet the increasing demand for power. These are few of the key factor driving the distributed control system market. Moreover, rising 5G technology and increasing adoption of cloud computing and IOT devices in power generation are expected to create lucrative opportunities for the players operating in the distributed control system market. Stagnant growth in oil & gas industry and slowdown in the mining industries are some of major challenges for the players, especially for emerging players, operating in the distributed control system market.• Product Development/ Innovation: The distributed control system market is witnessing significant product development and innovation, driven by the growing demand for DCS systems in power generation and oil & gas industries. Companies are investing in developing advanced distributed control systems such as Industrial Internet of things (IIOT) technology in distributed control system systems. Machine Learning (ML) has made significant contributions to overall parameters in the field of distributed control systems. These technologies leverage the power of data analysis and intelligent algorithms to optimize process parameters, improve overall performance, and predict equipment failures.• Market Development: Data analytics and visualization are becoming increasingly important in the distributed control system. Advancements in data analytics and visualization techniques have transformed the interpretation and utilization of control and monitoring results. These advancements enable comprehensive analysis of large datasets, identification of trends, detection of anomalies, and provision of actionable insights to improve the overall control process.• Market Diversification: ABB has recently launched the ABB Ability Symphony Plus distributed control system (DCS) in order to support digital transformation in the power generation and water industries. The latest Symphony Plus version will further enhance customers’ digital journey, through a simpler and secure OPC UA1 connection.Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Emerson Electric Co. (US), and Honeywell International Inc. (US) among others in the distributed control system market.Read the full report: https://www.reportlinker.com/p05169957/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________