Distributed Control System Market worth USD 29.48 Billion by 2028, registering a CAGR of 5.30% - Report by Market Research Future (MRFR)

New York, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Distributed Control System Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Distributed Control System Market Research Report, Component, Application, End-Use and Region - Forecast till 2027” the market size is projected to be worth USD 29.48 Billion by 2028, registering a CAGR of 5.30% during the forecast period (2021 - 2028), The market was valued at USD 19.22 billion in 2020.

There has been a steady increase in the demand for power as a result of which substantial investments have been made especially in economies such as the Middle East, Asia Pacific, and Africa to augment the power generation capacities. Investments in conventional power generation in Middle Eastern countries such as Egypt and Oman and renewable power generation investments in Asia Pacific and African countries such as China, India, and South Africa have been planned to meet the increasing power demand. Qatar has aggressive plans to boost its power generation capacities by 50% by 2019–2020. India has plans to add 266 GW of power generation capacity through solar, wind, mini-hydel, and biomass sources in next 5 to 10 years. India is expected to witness investments worth approximately USD 310–350 billion. Indonesian has set up an ambitious complete electrification plan; to achieve this, the Government of Indonesia plans to add 35 GW by 2019.

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List of the Key Companies Profiled in the Distributed Control System Market Research Report are:

  • Emerson (USA)
  • Schneider Electric (France)
  • Rockwell Automation (US)
  • Honeywell International Inc. (US)
  • Siemens (Germany)
  • General Electric (US)
  • Yokogawa (Japan)
  • ABB (Switzerland)
  • Toshiba (Japan)
  • Azbil Corporation (Japan)
  • Hitachi (Japan)
  • Metso Corporation (Finland).

Competitive Landscape

Due to the market's strong main competitors, the Distributed Control System Market is extremely competitive. Local vendors pose a significant threat to multinational distributors. As a result, the market's major players are increasing their attention on R&D investments and enormous productions in order to survive. Furthermore, the leading players provide a Distributed Control System that is compatible with a variety of industrial technologies. The success of the market's leading companies is based on improving process automation using the DCS system.

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COVID-19 to have Temporary Impact on the Global Market

COVID 19 has prompted a number of industries to close down. It has also shifted the distributed control system market trends. The key constraints to the distributed control system market are substantial revenue losses. In the DCS market, the pandemic has resulted in high pricing and poor demand. This has had an impact on the fundamental production process of DCS products. The distribution control system industry, on the other hand, plans to increase output in the coming year. The manufacturing industries are increasing their need for DCS systems, which boosts the distributed control system market revenue.

High Manufacturing and Maintaining Cost 

The initial cost of installing and maintaining the Distributed Control System is higher. The primary restrictions of the Disturbed-Control System Market are technological expenses. As a result, the major participants are contemplating the DCS's different cost-cutting strategies. The greatest danger to the worldwide market is the high manufacturing cost. In addition, hybrid systems are used as an alternative to DCS in the top industries. It is yet another major impediment to the growth of the DCS market. It is a low-cost replacement that can reduce demand for the Distributed Control System.

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Market Segmentation

The global distributed control system industry has been segmented into component, application, and end-use. 

By component, the global distributed control system market has been segmented into hardware, software, and services.

By application, the global distributed control system market has been segmented into continuous and batch-oriented.

By end-use, the global distributed control system market has been segmented into oil & gas, power generation, chemicals, pharmaceutical, and metal & mining.

Regional Analysis

APAC to Lead the Global Market

The Asia Pacific distributed control system market is the fastest growing. Growth is expected to be more pronounced in the predicted year 2027. In these regions, the market is being driven by the rising economy and technological innovation.

North America to Follow APAC

North America is the world's second-largest Distributed Control System market. Government policies, tax breaks, rural energy initiatives, and reforms are the driving forces in this region's market. These regional companies, according to the Distributed Control System Market Analysis, would be important contributors to the market growth in 2027.

Segmentation of Market covered in the research:

Information by Component (Hardware, Software, Services), By Application (Continuous, Batch-Oriented), By End-Use (Oil & Gas, Power Generation, Chemicals, Pharmaceutical, Metal & mining) and Region (North America, Europe & Asia-Pacific))

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