Distributed Control Systems Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
Global distributed control systems market is expected to grow at a robust pace in the forecast period, 2024-2028, owing to the developments in the energy and electricity industries. The massive wind and solar power plant projects that are currently under construction in various nations are going to help the market expand in the upcoming years. Moreover, the launch of new open-source distributed control systems (DCS) and rising demand in the power and energy sectors are both fostering the market's expansion. Additionally, the ability of DCS to save money and time is fueling the market's expansion.
A platform for automated management and administration of a plant or industrial process is known as a distributed control system (DCS). A DCS integrates a human machine interface (HMI), logic solvers, historian, common database, alarm management, and a common engineering suite into a single automated system. A DCS is a safe and secure system that can be trusted to operate correctly in industrial processes. Continuous production from a large amount of equipment is essential to process industries. Production can frequently be marginally reduced rather than stopped if a single machine fails. Even other machines might be able to increase output to make up for the loss.
Growing Industrial Infrastructure and Enhanced Focus on Automation is Driving the Global Distributed Control Systems Market
The manufacturing industry has expanded quickly in recent years as a result of large investments made by the governments of many nations. The strong Purchasing Managers Index (PMI) signals a considerable recovery in the manufacturing industry, significant growth in the emerging industrial sector, and rising commodity prices around the globe. It is anticipated that the manufacturing sectors will employ cutting-edge technology to maintain their recent trend of growth and productivity development. Moreover, a number of product producers are dealing with fierce competition from their rivals in the areas of cost, quality, service, and time to market. Additionally, they have a difficult time keeping the supply and demand for their products in the ideal balance.
Non-automotive businesses are expected to use industrial automation at a faster pace as equipment's capability rises, such as industrial robots. Distributed control systems allow for remote activity monitoring and guarantee increased productivity and efficiency in manufacturing facilities.
Rising Demand of Electricity is Expected to Boost the Growth of Global Distributed Control Systems Market
The demand for energy is increasing at an astonishing rate due to the speed at which industrialization and economic expansion are taking place. One of the most frequently utilized forms of energy on the planet is electricity, which is expected to continue to dominate energy consumption over the projected period. The power industry in the region is drawing greater investments than the oil and gas sectors because of advancements in power infrastructure, updates to ageing infrastructure, ongoing changes in energy requirements, an emphasis on clean energy projects, and urbanization. The majority of future electricity growth would result from national advancements, which is expected to increase demand for additional power generation.
Rapid economic development, industrialization, population increase, as well as growing public support for electrification, are all recognized as contributing to the rising need for power. The demand for electricity is being driven by the rising need for cooling and heating applications in both the residential and industrial sectors. As a result, distributed control systems are becoming more popular across the globe due to increased electricity demand thus propelling the global distributed control systems market during the forecast period.
Combination of Industrial IoT (IIoT) and Artificial Intelligence is thriving the growth of Global Distributed Control Systems Market
Among other contemporary technologies, the industrial sector is especially receptive to artificial intelligence and big data. Automation is anticipated to give humans smart aid in the upcoming years in addition to increasing productivity. Companies are making significant investments in the creation of industrial robots that are AI-integrated, which would further reduce the need for human intervention in various processes. Reducing the reliance on human labor in the economy is likely to benefit businesses by lowering their labor costs. Additionally, with the increased momentum towards IIoT, the usage of distributed control systems is projected to rise considerably. In order to continuously enhance factory operations, the IIoT, which mixes manufacturing and information technologies, requires extensive data collecting and analysis. The DCS is one of the most important technologies for providing data to the IIoT. The manufacturing industry's quick adoption of IIoT has sparked a robotics renaissance and highlighted the necessity for DCS, propelling the global distributed control systems market.
Stagnancy in Oil & Gas Industry is expected to hinder the growth of Global Distributed Control Systems Market
The oil and gas business uses distributed control systems because it is a process-based sector with continuous operations, intricate monitoring procedures, and enhanced production process control. In the oil and gas industry, DCS incorporates HMI and controller systems that help automate safety activities including alarm management systems and predictive maintenance of equipment. The projects for production and exploration would be impacted by changes in oil prices and a slowing of the economy. Supply irregularities could hinder output. A decrease in shale oil production as well as inadequate investment in exploration and infrastructure would be detrimental to the oil and gas sector, which is expected to contribute to the stagnation of global distributed control systems market growth.
Market Segmentation
The global distributed control systems market is segmented based on component, application, end use, and region. Based on type, the market is segmented into hardware, software, and services. Based on application, the market is bifurcated into continuous process and batch oriented process. Based on end use, the market is segmented into oil & gas, power generation, food & beverage, chemicals, and others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, and Middle East & Africa.
Market players
The main market players in the Global Distributed Control Systems Market are ABB Ltd., Honeywell International Corporation, Siemens AG, Mitsubishi Motors Corporation, Rockwell Automation, Inc., Emerson Electric Company, Omron Corporation, Azbil Corporation, Schneider Electric SE, Yokogawa Electric Co.
Report Scope:
In this report, Global Distributed Control Systems Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Distributed Control Systems Market, By Component:
- Hardware
- Software
- Services
- Distributed Control Systems Market, By Application:
- Continuous Process
- Batch Oriented Process
- Distributed Control Systems Market, By End Use:
- Oil & Gas
- Power Generation
- Food & Beverage
- Chemicals
- Others
- Distributed Control Systems Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- China
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- South America
- Brazil
- Argentina
- Colombia
- Middle East
- Saudi Arabia
- South Africa
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global distributed control systems market.
Company Information
- Detailed analysis and profiling of additional market players (up to ten).
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