New Revenue Pockets:
The global distributed control system market is projected to reach USD 26.7 billion by 2028 from an estimated USD 19.9 billion in 2023, at a CAGR of 6.1% during the forecast period. The demand for Distributed Control Systems (DCS) in the power generation industry is significant and growing as power plants strive to increase efficiency, reliability, and safety. DCS plays a vital role in the power generation sector by enabling centralized control, monitoring, and automation of various power plant activities.
Key Market Players
Due to their strong supply network, a few global and regional players hold a strong foothold in the distributed control system market. Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Emerson Electric Co. (US), and Honeywell International Inc. (US) are the market leaders in the global distributed control system market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=239430160
This report segments the distributed control system market based on component into Software, Hardware, and Services. Services segment is expected to be fastest growing segment in the distributed control system market during the forecast period. Installing a distributed control system is often a large-scale project and needs a variety of equipment and in-depth knowledge of the process/plant for which it is being installed. Once the installation is done, maintenance services and upgradation needs to be carried out at regular intervals to avoid any unplanned shutdown and vulnerability to cyberattacks. Hence, the need for plant optimization across industries is one of the key factors driving the services segment of the distributed control system (DCS) market.
Based on application, the distributed control system market is segmented into Continuous Process and Batch-oriented Process. Batch-oriented Process segment is expected to hold the second largest market share during the forecast period. A batch-oriented process is where products are manufactured in batches and is generally used when the production volume is low and the demand for superior quality is high. In industries where batch processes are common, such as pharmaceuticals, food and beverage, and specialty chemicals, DCS assists in managing complex processes and providing accurate sequencing and real-time data.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=239430160
This report segments the distributed control system market based on end-use industry into eight categories: Oil & Gas, Power Generation, Chemicals, Food & Beverages, Pharmaceutical, Metals & Mining, Paper & Pulp, and Others. During the forecast period, the Power Generation segment is expected to hold the second-largest share, driven by increasing foreign investments in upgrading and modernizing power grid infrastructure, especially in Asia Pacific, North America, and Europe. In this modernization effort, Distributed Control Systems (DCS) play a crucial role by enabling advanced automation and control capabilities within the power grid. DCS is extensively used in various types of power plants, including coal-fired, gas-fired, nuclear, hydropower, solar, and wind power plants, for efficient process automation. Its ability to integrate PLCs, third-party controls, safety systems, and turbomachinery controls makes it an indispensable tool in enhancing overall power plant efficiency and performance.
