The report, now available on ASDReports, "Distributed Control Systems Market by Industry (Oil & Gas, Chemicals, Power Generation, Metals and Mining, Pharmaceutical, Paper and Pulp, Food and Beverage), Component (Hardware, Software, Services), Application, and Region - Global Forecast to 2022", The distributed control systems (DCS) market is expected to grow from an estimated USD 15.95 Billion in 2017 to USD 20.33 Billion by 2022, at a CAGR of 4.97%. The market is set to grow due to the booming power sector and augmented power generation capacities worldwide, growing industrial infrastructure in regions such as Asia Pacific, the Middle East, and Africa, and increased use of renewable and nuclear energy for power generation.
The software segment is expected to account for the largest share of the DCS market, by component, during the forecast period
The software segment of the DCS market is expected to be the largest market in 2017. Software components include IT application parts and services such as installation, maintenance, and upgradation. The upgradation of software and upcoming technologies are expected to drive the DCS market during the forecast period.
The continuous process segment is expected to be the largest DCS market in 2017
The continuous process segment is expected to lead the DCS market during the forecast period. Industries such as oil & gas, power generation, and water and wastewater treatment employ the continuous process. Investments in the nuclear and renewable sectors of the power generation industry will drive the continuous process segment during the forecast period.
Asia Pacific is expected to be the leading DCS market during the forecast period
The market in Asia Pacific is expected to dominate the global DCS market due to growing industrial infrastructure and increased investments in power generation in countries such as China, India, Indonesia, and Vietnam. The governments of these countries have ambitious plans to achieve complete electrification to support their rising population and industrial needs.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the DCS market. These include ABB (Switzerland), Siemens (Germany), Honeywell (US), Yokogawa (Japan), Emerson (US), Schneider Electric (France), General Electric (US), Rockwell (US), Toshiba (Australia), Metso (Finland), Azbil (Japan), Novatech (US), Mitsubishi (Japan), Hitachi (Japan), Can-Technologies (Canada), CG Power (India), Chint Electric (China), Larsen & Toubro (India), Hyosung (South Korea), Andritz (Austria), Mobile Automation (Australia), HollySys (China), ZAT (Czech Republic), Concept Systems (US), and Ingeteam (Spain). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
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Source: ASDReports - Market Research
Date: Oct 31, 2017