DUBLIN, Feb. 4, 2022 /PRNewswire/ — The “Distributed Control System Market by Shipment Scale (large, medium, small), by Component (hardware, software, services), Application (continuous process, batch-oriented process), End-use Industry, and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The DCS market is projected to reach USD 23.2 billion by 2026 from an estimated USD 17.5 billion in 2021, in order to meet the increasing demand from power sector.
It provides benefits such as a Distributed control systems have networking capabilities that are useful for business management, and the ability of these systems to process a large number of I/O points simultaneously has led to the growth of the DCS market.
The software segment by component is expected to grow at the highest CAGR from 2021 to 2026.
Based on the component of DCS systems, the software component is estimated to be the fastest-growing market from 2019 to 2026. The software segment includes IT applications such as advanced process control systems, controller integration with DCS, technology libraries, telecontrol software, connectivity solutions, parameter control, and materials management systems, process optimization and process safety solutions, and advanced software and virtualization solutions. It offers a common platform for devices to connect and operate. Upgrades to existing software, increased use of distributed control systems in cloud computing technologies, and upcoming technologies such as IoT are the major drivers of the software segment of the DCS market. The software solutions are cost-effective and can be replaced and upgraded easily.
Continuous process segment by application is expected to emerge as the largest segment for DCS implementation
The continuous process segment, by application, is projected to hold the highest market share during the forecast period. The continuous process is a method where the manufacturing process is carried out without any interruption and is generally preferred when producing large quantities. It is the faster-growing application in the DCS market. The continuous production process is used in oil & gas, chemicals, power generation, and water & wastewater treatment industries and is one of the more efficient and profitable methods of production. The use of distributed control systems in nuclear as well as renewable sectors in the power generation industry and in upstream and downstream activities in the oil & gas industry are the major factors driving the continuous process segment. The increasing production of chemicals and the growing demand for distribution control systems in the refining industry also contribute to the segment’s growth.
Asia Pacific: The largest DCS market
Asia Pacific is currently the largest DCS market, followed by North America and Europe. China accounted for the maximum share of the Asia Pacific market in 2020. It is also projected to grow at the highest CAGR from 2021 to 2026. The market is expected to grow due to rapid industrialization, urbanization, and economic growth in the region, leading to the installation of new DCS systems in various emerging economies.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in DCS Market
4.2 DCS Market in Asia-Pacific, by Component and Country
4.3 DCS Market, by Component
4.4 DCS Market, by Application
4.5 DCS Market, by End-Use Industry
4.6 DCS Market, by Region
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Road to Recovery
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Booming Power Sector and Augmented Power Generation Capacities Worldwide
5.5.1.2 Growing Industrial Infrastructure for Power Generation in Developing Countries
5.5.1.3 Increasing Use of Renewable Energy for Power Generation
5.5.2 Restraints
5.5.2.1 Availability of Low-Cost Alternatives
5.5.2.2 Sluggish Response Time of Distributed Control Systems
5.5.2.3 High Degree of Redundancy
5.5.3 Opportunities
5.5.3.1 Changing Face of Manufacturing Industry in Middle East
5.5.3.2 Adoption of Industrial Internet of Things (IIoT) for Real-Time Decision-Making and Increasing Use of 5G Technology in Industrial Environments
5.5.3.3 Development of Power Grid Market
5.5.4 Challenges
5.5.4.1 Stagnant Growth of Oil & Gas Industry
5.5.4.2 Slowdown in Mining Industry in Asia-Pacific, Americas, and Africa
5.5.4.3 Impact of COVID-19
5.6 Trends and Disruptions Impacting Customers
5.6.1 Revenue Shift and New Revenue Pockets for Market Players
5.7 Market Map
5.8 Pricing Analysis
5.9 Value Chain Analysis
5.10 Technology Analysis
5.10.1 Different Technologies Used by Industries Deploying Distributed Control Systems
5.11 Regulatory Landscape
5.12 Innovations and Patent Registrations
5.13 Porter’s Five Forces Analysis
5.13.1 Threat of Substitutes
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat of New Entrants
5.13.5 Intensity of Competitive Rivalry
5.14 Case Studies
6 Distributed Control System Market, by Shipment Scale
6.1 Introduction
6.2 Large Scale
6.2.1 Large Size Shipment Scale is Driven by Oil & Gas and Metals & Mining Industry
6.3 Medium Scale
6.3.1 Medium Scale Shipment Segment is Driven by Pharmaceuticals and Chemicals Industries
6.4 Small Scale
6.4.1 Small Scale Shipment Segment is Driven by Small-Scale End-users Such as Bakeries and Power Looms
7 Distributed Control System Market, by Application
7.1 Introduction
7.2 Continuous Process
7.2.1 Ability to Control Complex Processes Without Any Interruption is Driving DCS Market for Continuous Process
7.3 Batch-Oriented Process
7.3.1 Increasing Demand for Superior Quality Products is Driving Batch-Oriented Process Segment
8 Distributed Control System Market, by Component
8.1 Introduction
8.2 Software
8.2.1 Software Applications Analyze Data and Help Identify Precise Locations for Repair
8.3 Hardware
8.3.1 Hardware Components Help Perform Various Functions, Including Field Data Collection
8.4 Services
8.4.1 Services Cover Procedures from Designing to Installation and from Training to Maintenance
9 Distributed Control System Market, by End-Use Industry
9.1 Introduction
9.2 Oil & Gas
9.2.1 Use of Distributed Control Systems is Essential in Oil & Gas Industry to Optimize Production
9.3 Power Generation
9.3.1 Use of Distributed Control Systems is Increasing for Data Acquisition in Power Generation Industry
9.4 Chemicals
9.4.1 Increasing Need for Reliable Plant Operations is Driving DCS Market in Chemicals Industry
9.5 Food & Beverages
9.5.1 Need to Maintain Quality of Food Products and Beverages is Driving DCS Market in this Industry
9.6 Pharmaceuticals
9.6.1 Need to Increase Productivity and Minimize Costs Has Led to Rising Demand for Distributed Control Systems in Pharmaceuticals Industry
9.7 Metals & Mining
9.7.1 Increasing Demand for Ensuring Operational Safety and Achieving Consistent Efficiency are Driving DCS Market in Metals & Mining Industry
9.8 Paper & Pulp
9.8.1 Need to Carry Out Multiple Operations Simultaneously is Driving DCS Market in Paper & Pulp Industry
9.9 Others
10 Geographic Analysis
11 Competitive Landscape
11.1 Key Player Strategies
11.2 Market Share Analysis of Top Five Players
11.3 Revenue Analysis of Top Five Market Players
11.4 Company Evaluation Quadrant
11.4.1 Stars
11.4.2 Pervasive Players
11.4.3 Emerging Leaders
11.4.4 Participants
11.5 Competitive Scenario
12 Company Profiles
12.1 Key Players
12.1.1 Abb
12.1.2 Schneider Electric
12.1.3 Emerson
12.1.4 Siemens
12.1.5 Honeywell
12.1.6 General Electric
12.1.7 Rockwell Automation
12.1.8 Yokogawa
12.1.9 Valmet
12.1.10 Toshiba International Corporation Pty. Ltd.
12.1.11 Azbil Corporation
12.1.12 Hitachi
12.1.13 Mitsubishi Electric
12.1.14 Novatech Automation
12.1.15 Hollysys Automation Technologies Ltd.
12.1.16 Andritz Group
12.2 Others Players
12.2.1 Concept Systems
12.2.2 Zat
12.2.3 Ingeteam
12.2.4 Omron Industrial Automation
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/m0exqf
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/the-worldwide-distributed-control-system-industry-is-expected-to-reach-23-2-billion-by-2026–301475626.html
SOURCE Research and Markets
Source link
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.
