The North America Distributed Control System Market would witness market growth of 5.4% CAGR during the forecast period (2021-2027).
In an industrial setting, distributed control systems (DCS) are made up of controllers, sensors, and accompanying computers that are spread across multiple application areas. These components of the systems are all designed to help with process control, graphical display, data acquisition, and data storage. In addition, DCS is designed with diagnostic and redundancy capabilities to increase control reliability and overall performance. They are generally utilized in huge manufacturing plants to direct all sophisticated production operations.
Factors such as the burgeoning power sector and improved power generation capacity around the world, growing industrial infrastructure in emerging regions, and increased usage of renewable and nuclear energy for power generation would boost the industry growth during the forecasting period. Moreover, some of the key trends of the market are the advancement of the power and energy sector as a result of the rising population and development of big wind and solar power plants.
In the US, between 2000 and 2010, the percentage of shale gas production increased from 1% to 20%, and by 2035, it is predicted to reach approximately 45 percent. This is likely to result in a simultaneous increase in the tightly integrated DCS market, which ensures process sustainability in high-risk situations through redundant controls.
Because shale gas production necessitates a considerable volume of water, a demand for DCS systems in water treatment plants has emerged. In addition, distributed control systems have shown to be critical in the administration of nuclear power plants, which is aiding their market in the United States, which is constantly expanding its nuclear power plant capacity and numbers.
Moreover, the United States and Canada are growing their electricity consumption year after year, necessitating more power generation. As per the EIA report of 2019, electricity consumption in the United States was at 3.8 trillion kWh in 2020, which was 13 times higher than in 1950. Therefore, these aspects would play a key role in propelling the growth of the regional Distributed Control System Market throughout the forecast period.
The US market dominated the North America Distributed Control System Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,851.2 million by 2027. The Canada market is poised to grow at a CAGR of 7.8% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 6.9% during (2021 - 2027).
Based on Component, the market is segmented into Software, Hardware, and Services. Based on Vertical, the market is segmented into Oil & Gas, Power Generation, Chemicals, Food & Beverages, Pharmaceutical, Metals & Mining, Paper & Pulp, and Others. Based on Application, the market is segmented into Continuous Process and Batch-oriented Process. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Distributed Control System Market is Estimated to reach $23.8 Billion by 2027, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Emerson Electric Co., Siemens AG, Schneider Electric SE, Honeywell International, Inc., Yokogawa Electric Corporation, Toshiba Corporation, General Electric (GE) Co., Rockwell Automation, Inc., and Azbil Corporation.
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