Published Date: 31-Mar-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, 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.
The Software segment is leading the Global Distributed Control System Market by Component 2020, thereby, achieving a market value of $10.4 billion by 2027. This is because of the widespread use of software solutions in the integration of this system for intelligent control, easy operation, and maintenance. Moreover, system management tools, operator interfaces, system configurator editor, and equipment simulators are examples of software tools that help users to leverage the application in a more effective way. Additionally, advanced process control systems, controller integration with DCS, technology libraries, telecontrol software, connectivity solutions, parameter control, and materials management systems, process optimization and process safety solutions, and advanced software and virtualization solutions are among the IT applications included in the software segment. It provides a standard platform for connecting and operating devices.
The Oil & Gas segment has acquired maximum revenue in the Global Distributed Control System Market by Vertical 2020, thereby, achieving a market value of $5.3 billion by 2027. This is because the operations of an oil and gas plant or refinery are made up of a number of complicated processes that must be constantly monitored and managed. Vacuum distillation, hydrocracking, naphtha hydrotreating, and coking are some of the primary oil refining processes controlled by DCS. Moreover, oil & gas is one of the greatest revenue-generating industries for the DCS industry, and it is divided into three primary sectors: upstream, midstream, and downstream. The upstream sector includes companies that extract, develop, and produce crude oil and natural gas; the midstream sector includes companies that transport and store crude oil and refined petroleum products; and the downstream sector includes companies that refine crude oil, produce petroleum products, and sell them through wholesale and retail channels.
The Batch-oriented Process segment is showcasing a CAGR of 7% during (2021 - 2027). This is because batch-oriented methods are good for seasonal orders, as they are flexible enough to provide a number of product variations while requiring minimal inventory. Moreover, food & beverage, paper & pulp, and pharmaceutical industries are all reliant on batch-oriented operations. The batch-oriented process is a method for producing things in many batches.
Asia Pacific is the fastest growing region in the Global Distributed Control System Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8.4 billion by 2027. The Europe market is estimated to grow at a CAGR of 5.2% during (2021 - 2027). Additionally, The North America market would experience a CAGR of 5.4% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
Unique Offerings from KBV Research