Distributed Control System Market Analysis
The global Distributed Control System Market is expected to grow from an estimated USD 35.24 billion in 2030, registering a CAGR of 6.12% during the forecast period (2021 - 2030).
COVID-19 Analysis
The COVID-19 outbreak has prompted several industries to shut down. This has shifted the distributed control system market trends. Substantial revenue losses are the key constraint to the market. Due to the pandemic there has been a rise in price and fall in demand. This had an effect on the fundamental production process of DCS products. The market plans in increasing output in the days to come. The manufacturing industries are boosting their need for DCS systems that boosts the market revenue.
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Report Attribute | Details |
Forecast Period | 2022 - 2030 |
Market Growth value | 6.12 % CAGR |
Revenue forecast in 2022-2030 | USD 35.24 billion |
Base year for estimation | 2021 |
Historical data | 2019 – 2020 |
Unit | USD Billion, CAGR (2022 – 2030) |
Segmentation | By Application, By End-Use, and By Region |
Drivers
Increased DCS Use in Industrial Applications to Boost Market Growth
The increased use of distributed control system in various industrial applications like paper and pulp, chemicals, oil and gas, pharmaceuticals, water and waste water, and power generation will boost market growth over the forecast period.
Opportunities
Growing Need for Energy to offer Robust Opportunities
The rising need for energy may act as market challenge over the forecast period. Rapid industrialization worldwide has led to the development of improved and latest technologies that has proved effective to meet the growing needs of power.
Restraint
Availability of Low-Cost Alternatives to act as Market Restraint
The availability of low-cost alternatives may act as market restraint over the forecast period.
Challenges
Stagnant Growth in Oil and Gas Industry to act as Market Challenge
The stagnant growth in oil and gas industry may act as market challenge over the forecast period.
Market Segmentation
The global distributed control system market system market is bifurcated based on end use, application, and component.
By component, the software segment will lead the market over the forecast period.
By application, the batch oriented process will dominate the market over the forecast period.
By end use, the oil gas segment will spearhead the market over the forecast period.
Regional Analysis
APAC to Spearhead Distributed Control System Market
The APAC region will spearhead the distributed control system market over the forecast period. Increasing urbanization and industrialization, the increasing need for energy-efficient equipment, supportive government plans, favorable government regulations and policies that aims to expand focus on developing manufacturing sector, the growing need for energy, growing population, the growing per capita disposable income, and increasing concern for energy optimization are adding to the global distributed control system market growth in the region. Besides, rapid economic growth, the increased investment in the power generation sector to meet the residential and industrial demand for electricity, rising economy, technological innovation, and increased need for small distributed control systems for price sensitivity among consumers are also adding to the global distributed control system market growth in the region.
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Key Players
Eminent players profiled in the global distributed control system market report include General Electric (US),ABB (Switzerland), Siemens AG (Germany), Honeywell International Inc. (US), Yokogawa Electric (Japan), Emerson Electric Co (US), Schneider Electric (Japan), Hitachi, Ltd (Japan), Rockwell Automation Inc. (US), ABB (Switzerland), Toshiba Corporation (Japan), Azbil Corporation (Japan), and Mesto (UK).
