Distributed Control System Market worth USD 35.24 billion by 2030, registering a CAGR of 6.12% – Report by Market Research Future (MRFR)
New York, Nov. 03, 2021 (GLOBE NEWSWIRE) — Distributed Control System Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Distributed Control System Market Research Report, Component, Application, End-Use and Region – Forecast till 2030” the market is projected to be worth USD 35.24 billion by 2030, registering a CAGR of 6.12% during the forecast period (2022 – 2030), The market was valued at USD 20.17 billion in 2021.
List of the companies profiled in the global distributed control system industry report include-
- General Electric (US)
- Siemens AG (Germany)
- ABB (Switzerland)
- Honeywell International Inc. (US)
- Emerson Electric Co (US)
- Yokogawa Electric (Japan)
- Schneider Electric (Japan)
- Rockwell Automation Inc. (US)
- ABB (Switzerland)
- Hitachi Ltd (Japan)
- Toshiba Corporation (Japan)
- Azbil Corporation (Japan)
- Mesto Corporation (UK)
- Among others.
Get Free Sample PDF Brochure https://www.marketresearchfuture.com/sample_request/1698
The global distributed control system market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches and more. Besides, they are also investing in various research and development activities.
Market Research Future’s Review on Distributed Control System Market
COVID-19 Analysis
Though the COVID-19 outbreak created a lot of roadblocks especially for the manufacturing sector due to mass facility closures and nationwide lockdowns, it offered a boost to industry 4.0 that proved beneficial for the distributed control system market. The drastic effect of the coronavirus on consumer behavior has heavily contributed to automation and virtualization in the years ahead. Advances in virtual reality and augmented reality and IoT will trigger the creation of factories and smart offices and allow intrinsically manual critical functions in being monitored or automated remotely. This will boost market growth given the key role DCS plays in the management and control of manufacturing processes.
Browse In-depth Market Research Report (188 pages) on Distributed Control System
https://www.marketresearchfuture.com/reports/global-distributed-control-system-market-1698
Market Drivers
Growth in Power Industry to Boost Market Growth
The exponential growth in the power industry will boost the distributed control system market value over the forecast period. Further, increased capacity of the power generation all over the world along with the expansion of the current industrial infrastructure in the developing economies is boosting market growth. With an aim to cut down carbon footprint on the environment, efforts are being made for generating power from nuclear energy sources and renewable sources.
Market Opportunities
Development of Improved Internet-Based Systems to Offer Robust Opportunities
The development of improved internet-based systems integrated with industrial internet of things will offer robust opportunities for the market over the forecast period.
Restraints
Availability of Low-Cost Alternatives to act as Market Restraint
The availability of low-cost alternatives may impact the distributed control system market share over the forecast period.
Challenges
Stagnant Growth of Oil and Gas Industry to act as Market Challenge
The stagnant growth of oil and gas industry may act as a market challenge over the forecast period.
Share your Queries https://www.marketresearchfuture.com/enquiry/1698
Market Segmentation
The global distributed control system market is bifurcated based on component, application, and end use.
By component, the software segment will lead the market over the forecast period.
By application, the batch oriented process will dominate the market over the forecast period.
By end use, the oil & gas segment will spearhead the market over the forecast period.
Regional Analysis
APAC to Domineer Distributed Control System Market
The APAC region will domineer the distributed control system market over the forecast period. Urbanization and industrialization, the increased need for energy-efficient equipment and supportive government plans, favorable government regulations and policies, developing manufacturing sector, growing need for energy, growing population, increasing per capita disposable income, increasing concern for energy optimization are adding to the global distributed control system market growth in the region. Besides, rapid economic growth, increased demand for power, increased investment in the power generation sector to cater to the residential as well as industrial demand for electricity, increasing need in China, China having a considerable pharmaceutical occurrence and posts scalable prospects for the local market players for changing into global key players, the region being technologically advanced, the presence of economically developing tech-savvy countries like Australia, South Korea, Japan, India, and China, the growing need for advanced technologies in these countries, private organizations and governments investing significantly in developing & procuring advanced systems, pharmaceuticals, chemicals and petrochemicals, automotive, food and beverages, and energy and power industries being the fastest growing industries, and the escalating production capabilities in such industries are also adding market growth.
Segmentation of Market covered in the research:
Distributed Control System Market Research Report: Information by Component(Hardware, Software, and Services), Application (Continuous Process, and Batch Oriented Process), End Use (Oil and Gas, Power Generation, Food & Beverage, Chemicals, Pharmaceutical, Metal & Mining, Paper & Pulp, and Others), and Region (North America, South America Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030
To Buy: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=1698
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
CONTACT: Contact: Market Research Future Phone: +1 628 258 0071(US) +44 2035 002 764(UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
