Published Date : Jul 10, 2017
ALBANY, New York, July 10, 2017: Distributed control systems (DCS) will witness high demand from industries as automated processes are increasingly being applied at every stage and this will create a need for DCS technologies to improve safety conditions in hazardous environments and also enhance efficiency. The global distributed control systems market is thus slated to witness a 4% CAGR for the period from 2016 to 2020, states a new report published by MarketResearchReports.biz. The report is titled, “Global Distributed Control Systems Market 2016-2020.” In order to adhere to government regulations and industry standards while meeting the demand for various products, companies are adopting DCS solutions. This technology is benefitting a company’s routine or everyday’s operations, thereby boosting productivity. Worker safety is another key advantage offered by DCS systems, which is propelling their demand.
The report is a comprehensive reports of all the key factors and also the macroeconomic factors that are driving the growth prospects for the global distributed control systems market. It states that, in order to gain a competitive edge above all others, companies are making use of automation and digitization so as to achieve flexibility, control, and enhanced communication. The adoption of distributed control systems has resulted in smart facilities that have decreased involvement from humans, thus resulting in fewer accidents, and better product quality.
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On the basis of solution, the global distributed control systems market is segmented into services, hardware, and software. Of these, the software segment is expected to lead and generate US$11 bn revenue by 2020. The use of parallel systems such as enterprise resource planning (ERP) and similar software programs so as to have enhanced operational efficiency and production will drive companies to upgrade and add new software for creating smart facilities. This will ensure a heightened growth of the software segment.
By geography, the global DCS market is segmented into Asia Pacific, the Americas, Europe, and the Middle East and Africa. Of these, Asia Pacific is ruling the DCS market and will expand at a 3% CAGR during the period from 2016 to 2020, driven by high demand from the oil and gas industries. Moreover, the adoption of DCS solutions for carrying out operations in the shale oil and gas industries, such as hydraulic fracturing and horizontal drilling will also boost the growth of the Asia Pacific distributed control systems market.
There exists intense competition among players in the global distributed control systems market. Players are competing with each other in terms of the price, solutions offered, and also on the basis of custom services provided. Leading players are looking for expansion of their operations by setting up new units in the developing economies as these economies are expected to become lucrative markets in the coming years. Mergers and acquisitions are also occurring in this market. Key players operating in the market include: Emerson Electric, ABB Group, Honeywell International Inc., Siemens AG, and Schneider Electric SE.
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