Global Distributed Control Systems (DCS) Market is Estimated to Reach $26 Billion by 2025, Says Accurize Market Research
Global Distributed Control Systems (DCS) Market report published by Accurize Market Research forecast that the global market is expected to reach $26 billion by 2025; growing at a CAGR of 4.5% from 2017 to 2025. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 5.7% and 4.4%, respectively, during the forecast period.
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Increased demand for energy generation through renewable resource to drive the market
Major factors driving the global DCS market include emergence of open sources DCS solutions, growth in energy generation based on renewable resources, and cost & time effectiveness. Though, slow industrial growth in developed economies would act as a restriction for the market. Rapid industrialization and technological advancement would provide numerous growth opportunities for the global DCS market in the coming years.
Market Segmentation
The global distributed control systems market is bifurcated on the basis of component, and end user. The component segment is further divided into DCS hardware, DCS software, and DCS services. The end user segment includes oil & gas, chemical, power, pulp & paper, pharmaceutical, metal & mining, water & wastewater management, and others. On the basis of geography, the global DCS market has been categorized into North America, Europe, Asia-Pacific and rest of the world.
"DCS software accounted for the largest market share in the component segment", says Accurize
DCS software accounted for the largest market share in the overall component segment in 2017. DCS hardware segment is expected to attain the fastest CAGR during the forecast period, due to the increased number of replacement and system upgrades. Furthermore, oil & gas dominated the end user segment driven by increased demand for innovative systems to control and monitor activities.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific accounted for the largest market share of 34.1% in 2017, owing to the growth in manufacturing industries. Europe accounted for the second largest market share of 32% driven by technological advancement and decline in greenfieldinvestments. Asia-Pacific is expected to attain the fastest CAGR of 5.7% during the forecast period 2017-2025 in terms of growth.
Top players in the market
Prominent companies operating in this market include Honeywell International Inc., Yokogawa Electric Corporation, Emerson Electric Co., NovaTech Process Solutions LLC, ABB Ltd., Siemens AG, Rockwell Automation Inc., Emerson Electric Co., Metso Corporation, and Schneider Electric SA, among others.
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