Press release
Global Distributed Control Systems Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028
The distributed control systems market is anticipated to grow at a significant CAGR of 4.0% during the forecast period (2022-2028). A distributed control system is a computerized control system for a process or plant with a large number of control loops in which autonomous controllers are dispersed throughout the system but supervisory control is maintained by a central operator. The distributed control system market will be propelled in the future by the tendency for process manufacturers to install the finest available automation technologies to acquire a competitive edge. The market is being driven by the increasing usage of smart applications and IoT technology. With the rise in popularity of smart gadgets, there is a greater need for multifunctional microelectronics with shorter response times and higher performance. The latest distributed control systems deliver significant advances over their predecessors in terms of security, compatibility with cutting-edge technology, and operator effectiveness, which is a major driver for the distributed control systems market.The global distributed control systems market is segmented based on the component and end-user. Based on the component, the market is sub-segmented into hardware, software, and services. Among these components, the service segment is expected to propel the growth of the market due to overwhelming growth in the number of service providers in the market. To maintain market growth, the market players continue to emphasize expanding capabilities for both project services and operations and maintenance services. Project management services, non-contract maintenance, retrofits, and upgrades are among the several components covered in the spectrum of services mentioned in the market study. The notion of a primary automation contractor (MAC) is gaining traction in project services, where the provider is responsible for all of the project's automation-related systems. Based on the end-user, the market is sub-segmented into power generation, oil & gas, and chemicals.
The market players are also contributing significantly to the market growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2021, ABB Ltd. launched the latest version of its distributed control system. ABB Ability System 800xA 6.1.1 represents an evolution for automated control and plant operations. By increasing industry collaboration, the latest version of ABB's flagship distributed control systems enables decision-makers to future-proof their plants.
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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Component
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- ABB Ltd., Honeywell International Corp., Siemens AG, Schneider Electric SE, Mitsubishi Motors Corp., Omron Corp., Novatech LLC, Azbil Corp., and Yokogawa Electric Co., among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
A full report of Global Distributed Control Systems Market is available at:
https://orionmarketreports.com/global-distributed-control-systems-market/105946/
Global Distributed Control Systems Market Report by Segment
By Component
• Hardware
• Software
• Services
By End-User
• Power Generation
• Oil & Gas
• Chemicals
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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