DCS Market is expected to reach USD 44.05 billion by 2030
The rise in the adoption of DCS in various industries such as oil & gas, energy & power, and others, as it can improve safety in industrial processes by providing real-time control and monitoring the process, drives the growth of the market.
According to a new research report by Next Move Strategy Consulting, the global Distributed Control System Market was valued at USD 27.19 billion in 2022, and is expected to reach USD 44.05 billion by 2030, with a CAGR of 5.4% during the forecast period, 2023–2030.
The advancements in technology, including the industrial internet of things (IIoT), cloud computing, virtualization, big data, analytics, and smart IIoT-connected sensors for asset condition monitoring, have led to significant developments in DCS. For instance, in July 2021, Siemens collaborated with Dow to showcase the future of automation with a process industry test bed at MxD, a state-of-the-art advanced manufacturing institute and innovation center near downtown Chicago. This new testbed demonstrates how innovative software and IoT come together with hardware to accelerate digitalization for process industries.
On the contrary, the high cost of the distributed control system hampers the growth of the market. On the contrary, the introduction of modular and flexible DCS systems create ample growth opportunities for the DCS market. This makes it easier to customize DCS systems to meet the specific needs of individual organizations without the need for costly and time-consuming customization. These systems can help improve production efficiency, reduce costs, and enhance product quality. These factors are are expected to propel the demand for DCS systems across a range of industries, including manufacturing, energy, and process industries.
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According to the report, leading market players in the DCS market include Rockwell Automation, Inc., ABB Ltd., Honeywell International, Inc., Siemens AG, Emerson Electric Co., Yokogawa Electric Corporation, Schneider Electric, Toshiba Corporation, Mitsubishi Electric Corporation, Hitachi Ltd., Valmet Oyj, Ingeteam Corporacion S.A, General Electric Co., Omron Corporation, and Azbil Corporation.
Key Insights from the Distributed Control System Report:
The information related to key drivers, restraints, and opportunities and their impact on the distributed control system market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the global distributed control system market is provided in the report along with their competitive analysis.