Distributed Control Systems Market is expected to grow at a Robust CAGR of 8.2% during 2019-2027 | Key Players are ABB, Emerson Electric, General Electric Company, Honeywell International, NovaTech
The distributed control systems market was valued at US$ 2,045.5 Mn in 2018 and is projected to account for US$ 3,897.0 Mn by 2027; it is expected to grow at a CAGR of 8.2% during the forecast period.
The manufacturing industry has witnessed rapid growth in recent times owing to huge investments coming up from Governments. The 21st century is characterized by cut-throat competition in all the industry sectors. The manufacturers of various products face stiff competition with their competitors on account of costs, quality, service, and time-to-market. Also, manufacturers have faced monumental challenges concerning maintaining a perfect balance between the demand and supply of the product. Manufacturing industries thus tend to focus more towards their core competencies of manufacturing. With the increasing functionality of equipment such as industrial robots, it is anticipated that the non-automotive industries will further accelerate the adoption of industrial automation.
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Within the Distributed Control Systems market, various regions are observed to exhibit different growth trends. North America hold the largest share of the total Distributed Control Systems market. While the regions such as Europe and APAC are expected to exhibit high growth along with the increasing growth in industrial and Electronics and Semiconductor sector.
The Major Manufacturers Covered In This Report: ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., NovaTech, LLC, Rockwell Automation, Schneider Electric SE, Siemens AG, Toshiba Corp, and Yokogawa Electric Corporation among others.
This Report Contains:
o Market sizing for the global Distributed Control Systems.
o Compare major Distributed Control Systems providers strategies and approaches to the challenges they face
o Analysis of the effects de globalization trends may have for Distributed Control Systems providers
o Profiles of major Distributed Control Systems providers
o 7-year CAGR forecasts for Distributed Control Systems -intensive vertical sectors
The Distributed Control Systems market is anticipated to grow in the forecast period owing to driving factors such as developments in the field of telematics and connected vehicle systems. Furthermore, the rise in demand for electric vehicles is expected to boost market growth. However, the high costs of technology adoption may hinder the growth of the Distributed Control Systems market during the forecast period. On the other hand, the development of high specific energy supercapacitor creates lucrative opportunities for market players in the coming years.
The prospective for further installations is remarkable in many of these countries, particularly in non-automotive industry, but also in automotive industries. This growth is attributed to the necessary modernization and transformation required in these markets. These statistics are promising for manufacturers as it signifies the huge scope for further increase in adoption. It is expected that the low penetration will propel considerable growth during the forecast period, as long as there is a considerable support from the government to the manufacturers. The distributed control system enables remote monitoring of the activities and ensures efficiency enhancement thereby inducing growth productivity in the manufacturing sector. The increasing automation integrations in the manufacturing industry would propel the demands for DCS integrations and drive the distributed control system market.
The report segments the global distributed control system market as follows:
Global Distributed Control System Market - By Component
Global Distributed Control System Market - By Industry Vertical
o Power Generation
o Oil & Gas
o Food & Beverages
Global Distributed Control Systems Market, By Geography
o North America
o Rest of Europe
o Asia Pacific (APAC)
o South Korea
o Rest of APAC
o Middle East and Africa
o Saudi Arabia
o South Africa
o Rest of Middle East and Africa
o South America
o Rest of South America
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