Distributed Control System Market 2021: Business Opportunities, Company Profiles


Frozen Foods to Drive Demand in Global Distributed Control System Market

A distributed control system (DCS) is a computerized control system for processes or loops with autonomous controllers distributed throughout the system. It supervises all functions and operations in a plant with the intake of real-time data from smart devices. The global distributed control system market report by Market Research Future (MRFR) provides a comprehensive view of the industry with an enumerated list of drivers and challenges for the period of 2018 to 2023 (forecast period). The COVID-19 pandemic and its impact on the industry covers various segments and regions in the report.

Market Scope

The global distributed control system (DCS) market is expected to expand at 5.30% CAGR during the forecast period. Investments in renewable energy projects and construction of energy grids for controlling the dissemination of power can drive the market demand. As per the latest report by International Renewable Energy Agency (IRENA), the investment in renewable energy would amount to USD 400 billion by 2020. The huge power demand in China, India, and other Southeast Asian countries will drive the market demand over the forecast period. Integration of traditional power systems with renewable energy systems can beckon the need for DCS and control the system effectively.

Segmentation

The global DCS market has been segmented by component, application, and end-use. 

By component, it is segmented into software, hardware, and services.

By application, it is segmented into continuous process and batch-oriented process.

Based on end-use, the market is classified into oil gas, power, chemical, pharmaceutical, food beverage, metals mining, paper pulp, and others. The oil gas industry end-use industry is expected to dominate the DCS market due to increasing need of a centralized control system for monitoring of oil gas production. On the other hand, the food beverage industry can be a huge contender for a large share of the global distributed control system market owing to the need for manufacture and storage of food in containers. This can be used to preserve the food and extend the shelf-life considerably. Recently, FPS Food Process Solutions has made use of a DCS in its process for adhering to hygienic demands of food regulation agencies.

Regional Analysis

By region, it is segmented into Asia Pacific (APAC), North America, Europe, the Middle East Africa (MEA), and South America. APAC is expected to hold the largest share in the global DCS market during the forecast period with 31.40% share. China was the largest market in 2017, valued at USD 1,523.5 million. The growth of DCS in the region can be attributed to the growth of the manufacturing industry in China, Japan, and India. Due to the growing production, urbanization, and competition among manufacturers, there is an increased necessity for higher operational efficiency, minimizing production cost, and process control industries with integrated controllers having high distributed control capability. Additionally, industries such as power generation, oil gas, chemicals, and pharmaceutical, among others are growing significantly in the region. The rising competition in the region is likely to lead to the adoption of systems that reduce operational costs considerably. However, the outbreak of the COVID-19 virus can dampen the market prospects owing to shutdown of major industries in China. 

Competitive Outlook

Metso Corporation, Emerson, Honeywell International Inc., Azbil Corporation, Toshiba, ABB, Hitachi, Schneider Electric, Yokogawa, General Electric, Rockwell Automation, and Siemens are key players of the global distributed control system market.

Browse complete report @ https://www.marketresearchfuture.com/reports/global-distributed-control-system-market-1698

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