The Distributed Control Systems (DCS) market size surpassed US$16.9 Billion in the year 2020, is projected to reach a revised size of US$ 21.5 Billion by 2027, growing at a CAGR of 3.5% over the period 2020-2027.
The major factors driving the distributed control system market include booming power sector and augmented power generation capacities worldwide, growing industrial infrastructure in emerging markets, and increased use of renewable and nuclear energy for power generation. The objective of the report is to define, describe, and forecast the global distributed control system market by component, end-use industry application and region.
Continuous Process, one of the segments analyzed in the report, is projected to record 3.8% CAGR and reach US$13.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Batch-Oriented Process segment is readjusted to a revised 2.9% CAGR for the next 7-year period.
The U. S. Market is Estimated at $4.6 Billion, While China is Forecast to Grow at 6.4% CAGR
The Distributed Control Systems (DCS) market in the U. S. is estimated at US$4.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2027 trailing a CAGR of 6.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR. We bring years of research experience to this 17th edition of our report. The 289-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
By component type, the services segment is expected to grow at the highest CAGR
The services segment of the DCS market, by architecture, is estimated to be the fastest growing market from 2020 to 2027. The services segment includes maintenance, installation, upgradation services, plant asset management, alarm management, lifecycle services, migration services, consulting services, simulation and training services, and technical assistance. Plant optimization is one of the key factors driving the services segment of the DCS market during the forecast period.
By Application, the continuous process segment is expected to dominate the market from 2020 to 2027
The continuous process segment of the DCS market, by application, is estimated to dominate the market and grow at the highest CAGR. The increased production of chemicals, use in the nuclear and renewable sectors in the power generation industry, and need for process control in new refineries will drive the continuous process segment.
By End-use industry, the power generation segment is estimated to be the fastest-growing segment
The power generation segment is estimated to be the fastest-growing segment of the DCS market, by end-use industry, from 2020 to 2027. DCS are used to control various power generation processes such as boiler side valves, fans, turbines valves, and boiler coal firing. Retrofit and modernization projects in Europe and North America are expected to contribute to the growth of the power generation market. The base year considered for company profiles is 2019. Whenever information was unavailable for the base year, the prior year has been considered.
Asia Pacific to account for the largest market size and fastest growing market during the forecast period.
The DCS market in Asia Pacific is projected to grow at the fastest rate from 2020 to 2027. Rapid economic growth in the region would lead to an increase in the demand for power. The increased investment in the power generation sector to meet the industrial and residential demand for electricity will boost the demand for DCS in the region.
Critical questions the report answers:
Progression of power and energy sector
Growing population is creating huge demand of power and energy to support sustainable developments and low carbon future. Power plants use various automation technologies to generate electricity efficiently, where in the application of DCS in mega power plants enables the operators to control and monitor the operations precisely. It also equips them with centralised management facility. For instance, Hong Kong a majestic city known for its contribution in delivering the best electricity supply system in the global. The city is planning various strategies to deal with its 43 terawatt-hours power requirements. To address this the city is developing many wind and solar power plants there by creating a great opportunity for distributed control systems applications.
Perceptible amount of reduction in cost and time
The process industries are very dynamic towards adaption of latest automation technologies. DCS consists of various digital devices equipped with smart components which helps to enhance the performance of the plant with reduced time consumption. These smart components help to improve productivity. The use of network systems in DCS supports the troubleshooting in a stress free and rapid way. This in turn saves plenty of time while reducing the cost. Further, DCS is made up of digital electronic devices that uses smart technologies and there is a noticeable amount of decrease in the price of digital devices which in turn decreases the cost of ownership of DCS that includes manufacturing and initial purchase cost along with the service costs.
Stagnant development in oil and gas sector
Oil and gas industry contains mega infrastructures. This industry faces the highest impact of regulations, emerging economies, interest rates and most importantly fluctuating oil and gas price globally. Due to the unstable energy policies across the global hinders the development in this sector. The risk associated with the industry restricts the big investment and innovation in oil and gas industry.
Competitors identified in this market include, among others:
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