Distributed Control System Market Worth 19.82 Billion USD by 2020
PUNE, India, January 20, 2016 /PRNewswire/ --
The report "Distributed Control System Market by Industry (Oil & Gas, Chemicals, Power Generation, Metals & Mining, Pharmaceutical, Paper & Pulp, Food & Beverage), by Component (Hardware, Software, & Services), by Application, and by Region - Global Forecast to 2020 ", published by MarketsandMarkets, The global market is expected to reach USD 19.82 Billion by 2020, at a CAGR of 4.91% from 2015 to 2020.
Browse 67 market data Tables and 58 Figures spread through 160 Pages and in-depth TOC on "Distributed Control System Market"
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Asia-Pacific is estimated to be the largest DCS market in 2015, and is expected to have the highest growth during the forecast period. This growth is attributed to increasing investments in renewable power generation.
North America is expected to be the second largest market, after Asia-Pacific, because of the use of DCS in the oil & gas sector. Unconventional exploration is one of the major factors driving the growth of the Distributed Control System Market in the region.
Power Generation end-use industry to register the highest growth
The power generation segment requires Distributed Control System for process automation of power plants because of its ability to integrate PLCs, third- party controls, safety systems, and turbomachinery controls, and to monitor and control power plant processes such as water quality, feed-water heaters, and heat exchangers. This segment is expected to exhibit the highest growth rate during the forecast period of 2015 to 2020. This growth is attributed to increasing power generation capacities in countries in Asia-Pacific, such as China and India, to meet the growing electricity demand. This in turn would require deployment of industrial automation solutions such as DCS.
The process industry segment is expected to lead the market
The process industry segment includes industries such as oil & gas, chemicals, power generation, and water & wastewater treatment. It is one of the fastest growing applications for the Distributed Control System Market. Highly attractive outlook for nuclear and renewable sectors in the power generation industry, increasing production of chemicals, and high demand for the desalination industry are the major factors driving the continuous process market.
The Middle East is a key market for DCS
The Middle East region has been increasingly focusing on expanding its manufacturing capabilities. The primary reason for this move is to change the region's role as a raw material supplier to a finished goods provider, within the manufacturing industry. Additionally, in a purview to develop an economy which is less oil-dependent, the Middle East countries have been increasingly focusing on its manufacturing sector. The positive outlook for the expansion of the manufacturing industry is expected to boost the demand for the Distributed Control System market.
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To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Distributed Control System Market, namely, ABB Ltd. (Switzerland), Siemens AG (Germany), Honeywell International Inc. (U.S.), Yokogawa Electric Corporation (Japan), and Emerson Electric Co. (U.S.). These companies have been the most active in terms of strategic developments from January 2012 to November 2015. Most of these market players are present in North America & Europe and have been actively participating in competitive developments.
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