Distributed Control Systems Market worth US$ 23,108.60 Million by 2028 - Exclusive Report by The Insight Partners
The report makes inclusion of vital information such as market size, growth rate, and valuation of each segmental, regional and country level market, and growth opportunities in related niche market segments. This information has been incorporated after a thorough study of primary and secondary sources.
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The manufacturing sector in North America has witnessed rapid growth in recent times due to huge investments gathered from the governments of the US, Canada, and Mexico. The purchasing managers index (PMI) of the North American manufacturing reached 62.1 in June 2021. The robust PMI in the region indicates strong rebound in the manufacturing sector, significant progress in the emerging industrial sector in Mexico, and rising prices of commodities in different countries. The manufacturing industries are projected to adopt advanced technology to continue with their streak of expansion and productivity improvement. Moreover, on the basis of cost, quality, service, and time-to-market, various product manufacturers are facing severe rivalry from their competitors.
They are also facing significant hurdles in maintaining a perfect balance between product demand and supply. As a result, they tend to focus on their core capabilities. As the functionality of equipment such as industrial robots increases, non-automotive industries are projected to accelerate their usage of industrial automation.
These figures are encouraging for manufacturers since they show that there is still a lot of room for adoption to grow. Low penetration is projected to accelerate significant growth during the forecast period, as long as the government provides significant support to the manufacturers. Distributed control systems enable remote monitoring of activities and ensure enhanced efficiencies with scaled up productivity in manufacturing plants. The increasing adoption of automation in the manufacturing sector is propelling the demand for integration of DCS, further driving the market growth.
This data has been documented in a systematic manner by dividing the market into segments based on type, application, end user, and region. The report also includes conclusive numerical information in the form of charts and tables to aid industry leaders in understanding the market scenario and opinions of different experts.
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Competitive Landscape: Distributed Control Systems Market: ABB Ltd.; Emerson Electric Co.; General Electric Company; Honeywell International Inc.; NovaTech, LLC; Rockwell Automation; Schneider Electric SE; Siemens AG; Toshiba Corporation and Yokogawa Electric Corporation are among the major companies operating in the distributed control systems market.
The distributed control systems market growth is mainly attributed to advancements in the power and energy sector. The huge wind and solar power plant projects that are underway in different countries are likely to contribute to the market growth in the coming years. Increased demand in the power and energy sectors as well as the introduction of new open-source DCS solutions are further contributing to the market growth. Cost-savings and time-savings conferred by DCS are further impelling the distributed control systems market growth.
Based on component the distributed control systems market is segmented into hardware, software, and services. The software segment held the maximum share in 2020. Similarly, based on industry vertical the distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries.
Chapter Details of Distributed Control Systems Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Distributed Control Systems Market Landscape
Part 04: Distributed Control Systems Market Sizing
Part 05: Distributed Control Systems Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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