The global distributed control systems market was valued at US$ 15.6 Mn in 2018 and is projected to account for US$ 23.9 Mn by 2027; it is expected to grow at a CAGR of 5.1% during the forecast period.
In a dynamic era of technological revolution, control over the complicated process is required to ensure a decent performance and therefore, the industrial automation system is dealing with advanced automation control technologies. DCS are the primary solution developed for process automation, and the attraction towards the same is driving the distributed control systems market. Access to command range of processes results into greater plant safety, is a key influential factor for DCS, and owing to this, the distributed control systems market is experiencing substantial growth. Also, the design of DCS is equipped with a desired secured system which is efficient to manage system functions to have better control over factory automation. DCS is responsible for organizing complete control structure as a single automation system which has different subsystems integrated through a proper information flow and command structure. DCS has varied applications in industrial fields including power generation, oil & gas, pharmaceutical, food & beverages, chemicals, and many others. Thus these factors are responsible for the growth of distributed control systems market.
The emerging smart cities and infrastructural development across North America have been creating the excessive opportunities in the distributed control systems market. Implementation of green industrialization and use of renewable energy has been promoted by developed countries, and this is another crucial parameter that boosts distributed control systems market. In this era of modernization, use of smart devices and IoT technology has been raising for the real-time accessibility, effectiveness, control and easy managing. Smart cites technologies has gained momentum around the globe and set for rapid transformation. It also includes intelligent transport systems, smart waste management and robust information technology that will improve the quality of living, employment opportunities and urban services. Thereby, analytics solutions would be used for analyzing the essential decision making for the smart cities and for industrial development, as there is the requirement for monitoring and analyzing the expensive assets, manage price fluctuations and reduced operational cost. Thus, implementation of DCS is anticipated to facilitate several industries with significant profit opportunities, and owing to this numerous companies across industries are exploiting the technology. This is catalyzing the distributed control systems market year on year.
Some of the key players included in the distributed control systems market are ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., NovaTech, LLC, Rockwell Automation, Schneider Electric SE, Siemens AG, Toshiba Corp, and Yokogawa Electric Corporation among others
The overall distributed control systems market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the distributed control systems market. It also provides the overview and forecast for the global distributed control systems market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, and Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the distributed control systems market.