According to a new market research report published by Acute Market Reports, “Distributed Control Systems (DCS) Market (by Component (Hardware, Software, and Services), by End-use Vertical (Oil & Gas, Power & Energy, Industrial Manufacturing, Pharmaceutical, Food & Beverage, Paper & Pulp, and Others (Utilities etc.)), by Application (Continuous Process and Batch-oriented Process), by Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2021 -2029”, the global distributed control systems market was valued at US$ 17.99 Bn in 2020 and is expected to grow at a 4.3% CAGR during the forecast period from 2021 to 2029.

Market Insight

The spending on industrial automation and consequently demand for distributed control systems declined in first half of this decade due to prevailing unstable economic conditions worldwide. However, with financial markets showing signs of recovery, the global distributed control systems market is expected to surge, although with slow & steady growth. Same trend is forecasted, at least during the first half of the forecast period. Resurgence in the industrial sector and consequent rise in the industrial automation spending is one of the major factors driving demand for DCS solutions and services worldwide. Imminent need for augmenting power generation capacity in view of ever-growing energy demand coupled with awareness with respect to limiting dependence on fossil fuels and achieving energy conservation will play an important role in shaping the futuristic demand for distributed control systems worldwide. Power & Energy sector is the major end-use segment in the global DCS market. Large power plants install distributed control systems to improve plant efficiency, reliability of control, and process quality. Heightened investments in power & energy sector and increasing use of renewable energy sources in view of limiting dependence on fossil fuels is paving the way for DCS solutions and services worldwide. For instance, International Renewable Energy Agency (IRENA) expects over US$ 400 Bn investments in renewable energy sources worldwide by 2020, thereby supporting market growth.

In terms of offering, software accounted for majority of market value share in 2020. Over the last few years, with technology integration driving disruption, the focus has shifted from hardware to software. Advancements in technology have led to distributed control systems becoming more secure, open, and interoperable, thereby allowing users to address the challenge of a single vendor lock-in. On the other hand, the technology advancements leading to enhanced integration capabilities have complicated the connection between on-premise IT systems and the network infrastructure of distributed control systems. This, in turn has increased demand for DCS services as end-users are compelled to rely on service providers to install the control systems securely and for software update.

Some of the leading manufacturers profiled in the research study include ABB Group, The Emerson Electric Co., Metso Corporation, Honeywell International Inc., Yokogawa Electric, Rockwell Automation, Inc., General Electric, Invensys, Schneider Electric SE, and Siemens AG among others.

Browse the full report at https://www.acutemarketreports.com/report/distributed-control-systems-dcs-market

The Global Distributed Control Systems (DCS) Market is Segmented into:

*Complete segmentation list is on report page