Dublin, April 26, 2022 (GLOBE NEWSWIRE) -- The "Global Distributed Control System Market Size, Share & Industry Trends Analysis Report By Component (Software, Hardware, and Services), By Vertical, By Application, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Distributed Control System Market size is expected to reach $23.8 billion by 2027, rising at a market growth of 5.6% CAGR during the forecast period.
A digitally automated industrial control system (ICS) that utilizes geographically distributed control loops throughout a factory, machine, plant, or control area is known as a distributed control system. This system is used to improve the safety, cost-effectiveness, and dependability of industrial processes. Moreover, in the manufacturing industry, this is generally employed in continuous or batch-oriented applications. Agriculture, chemical plants, petrochemical (oil) and refineries, nuclear power plants, sewage treatment facilities, water treatment plants, food processing, and automobile manufacturing are some of its potential applications.
Because of rising energy consumption and government investment, the power industry plays a critical role in a country's economy. In addition, continuous access to energy at an affordable price is required to preserve a society's quality of life and economic development. Moreover, renewable energy generation is making a significant contribution, which will help meet the rising energy demand. Furthermore, technological advancements are critical in integrating power in power stations.
DCSs (distribution control systems) are critical in the manufacturing industry since they control and manage processes. In addition, a dedicated controller controls each process element set of machines in DCS. DCS is made up of a large number of local controllers located across the plant control area, all of which are linked by a high-speed communication network. Data acquisition and control functions are carried out in a DCS control system by a number of DCS controllers, which are microprocessor-based units spread across the plant functionally and geographically.
COVID-19 Impact Analysis
The COVID-19 pandemic has wreaked havoc on a number of sectors throughout the world. Various businesses, including manufacturing and information technology, were hampered by the strict lockdown conditions. While essential industries like fast-moving consumer goods (FMCG) and pharmaceuticals have to continue operating. Various large building projects, including airport expansion and modification, were also delayed as a result of the pandemic, particularly in the United States and Canada. Because of favorable government policies to encourage innovation and develop infrastructure capacities, North America is known for having the highest rate of adoption of sophisticated technologies.
As a result, every issue influencing the region's industrial performance impedes its economic progress. Due to the COVID-19 pandemic, the United States is currently the world's worst-affected country, prompting governments to put a number of restrictions on industrial, commercial, and public activities in the country in order to curb the transmission rate.
Market Growth Factors:
Thriving power industry and increased capabilities of power generation
The global demand for power has been steadily increasing, resulting in significant investments in power generation capacity, particularly in places such as the Middle East, Asia Pacific, and Europe. To fulfill the rising need for power, investments in conventional power generating in Middle Eastern countries such as Egypt and Oman, as well as renewable power generation in the Asia Pacific and African countries such as China, India, and South Africa, have been increased. Renewables might account for 60% or more of many countries' total final energy consumption, according to the International Renewable Energy Agency (IRENA) (TFEC). For example, China's renewable energy contribution in its energy use might rise from 7% in 2015 to 67 percent in 2050.
Increased use of 5G technology in industrial environments and adoption of the Industrial Internet of Things (IIOT) for real-time decision-making
Because IIoT has given rise to a new generation of automation systems with unequaled capabilities and extensibility, decision-making is based on more accurate real-time data. With a leaner and flatter architecture, these systems are projected to play a key role in industrial automation and control, bridging the gap between operational technologies (OT) and information technologies (IT). Emerson, for example, provides a wireless IIoT-based solution that allows for quick access to distributed control systems and maintenance data, lowering total operational expenses over time.
Market Restraining Factors
High availability of cheaper alternatives
Distributed control systems and programmable logic controllers have different applications and end-user industries. On the other hand, as both technologies have advanced at a rapid pace, the obvious disparities between them have decreased. In addition, similar system architectures and components are increasingly being used in both technologies. As a result, a hybrid structure has emerged that combines the best of both technologies, is 7-8 times less expensive than a distributed control system, and is determined to be cost-effective up to specific input/output (I/O) handling capacities. Moreover, local players have been providing such alternative systems at a low cost which is quite attractive for many enterprises with low-budget.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Aug - 2021, Dec) Leading Players
Chapter 4. Global Distributed Control System Market by Component
4.1 Global Software Market by Region
4.2 Global Hardware Market by Region
4.3 Global Services Market by Region
Chapter 5. Global Distributed Control System Market by Vertical
5.1 Global Oil & Gas Market by Region
5.2 Global Power Generation Market by Region
5.3 Global Chemicals Market by Region
5.4 Global Food & Beverages Market by Region
5.5 Global Pharmaceutical Market by Region
5.6 Global Metals & Mining Market by Region
5.7 Global Paper & Pulp Market by Region
5.8 Global Other Vertical Market by Region
Chapter 6. Global Distributed Control System Market by Application
6.1 Global Continuous Process Market by Region
6.2 Global Batch-oriented Process Market by Region
Chapter 7. Global Distributed Control System Market by Region
Chapter 8. Company Profiles
8.1 ABB Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.2 Emerson Electric Co.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Product Launches and Product Expansions:
8.2.5.2 Acquisition and Mergers
8.3 Siemens AG
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 Schneider Electric SE
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental And Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.4.5.2 Acquisition and Mergers
8.5 Honeywell International, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional & Segmental Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Product Launches and Product Expansions:
8.6 Yokogawa Electric Corporation
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Product Launches and Product Expansions:
8.7 Toshiba Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research and Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Product Launches and Product Expansions:
8.8 General Electric (GE) Co.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.9 Rockwell Automation, Inc.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Product Launches and Product Expansions:
8.10. Azbil Corporation
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
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