Global Distributed Control Systems Market is Estimated to Reach $26.7 Billion by 2025, Says Accurize Market Research
Increased government spending on the military to drive the market
Growth in energy generation based on renewable resources, and cost & time effectiveness fuels the demand for the global Distributed Control Systems Market. Moreover, the emergence of open sources DCS solutions also boosts the growth of the market.
The global distributed control systems market is bifurcated into component and end-user. The DCS is further segmented by component into DCS hardware, DCS software, and DCS services. Furthermore, the end-user segment includes oil & gas, chemical, power, metal & mining, water & wastewater management, pulp & paper, pharmaceutical, and others. Oil & gas dominated the end-user segment driven by increased demand for innovative systems to control and monitor activities.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the world. The U.S., Mexico, and Canada are covered under North America wherein Europe covers the UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, the Middle East, and Africa.
“DCS software accounted for the largest market share in the component segment", says Accurize
By component, DCS software accounted for the largest market share in the overall component segment in 2017. However, the DCS hardware segment is anticipated to attain the fastest CAGR during the forecast period, driven by an increase in a number of replacement and system upgrades.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific accounted for the largest market share of 35% in 2017, owing to the growth in manufacturing industries in countries such as China and India. Europe accounted for the second-largest market share of XX% driven by technological advancement and decline in Greenfield investments. In terms of growth, Asia-Pacific is expected to attain the fastest CAGR of 5.8% during the forecast period 2017-2025.
Top players in the market
The key market players include Honeywell International Inc., Yokogawa Electric Corporation, Emerson Electric Co., NovaTech Process Solutions LLC, ABB Ltd., Siemens AG, Rockwell Automation Inc., Emerson Electric Co., Metso Corporation, and Schneider Electric SA, among others.
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