Global DCS Will Be Driven By Emergence Of Open Sources DCS Solutions
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Emergence of open sources DCS solutions, growth in energy generation based on renewable resources, and cost & time effectiveness are the major key factors propelling the growth of global DCS market. However, sluggish industrial growth in developed countries may hinder the growth of the market. The impact of these factors would be minimal due to rapid industrialization and technological advancement in the global distributed control system market.
The global distributed control systems (DCS) market is segmented on component and end-user. The DCS market segmented by component is further categorized as DCS software, DCS hardware, and DCS services. In component segment, DCS software is assumed to hold the largest market share, in the year 2016. However, during the forecast period, DCS hardware is anticipated to attain the fastest CAGR, driven by increase in number of system upgrades and system. Furthermore, end user segment includes oil & gas, power, chemical, pharmaceutical, pulp & paper, metal & mining, water & wastewater management, and others. Oil & gas dominated the end user segment driven by increased demand for innovative systems to control and monitor activities.
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By Geography, the global DCS market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. However, in the year 2016, Asia-Pacific dominated the market share with 34.1%, owing to the growth in manufacturing industries in developing countries such as India and China. Due to technological advancement and decline in greenfield investments, Europe accounted for the second largest market with the share of 32%. In terms of growth, Asia-Pacific is expected to attain fastest CAGR of 5.7% from 2016 to 2024.
The major players in the distributed control systems market include, Rockwell Automation Inc., Siemens AG, Emerson Electric Co., Honeywell International Inc., Yokogawa Electric Corporation, NovaTech Process Solutions LLC, Metso Corporation, ABB Ltd., Schneider Electric SA, and Emerson Electric Co., among others.
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Scope of Distributed Control Systems Market
• DCS hardware
• DCS software
• DCS services
• Oil & Gas
• Water & Wastewater Management
• Metal and Mining
• Pulp & Paper
• North America
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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