Distributed Control System (DCS) Market: Global Analysis,Share, Trends, Application Analysis And Forecast To 2024
A distributed control system (DCS) refers to a computerized control system which is used for a process or plant with a massive number of control loops. Within these loops, autonomous controllers are distributed throughout the system, however, there is central operator supervisory control. This system is contrasting to systems which utilize centralized controllers. The global DCS market is anticipated to witness substantial upscaling during the forecast period. A distribution control system plays a vital role in manufacturing industries owing to the easier control and management of processes. Further, other advantages such as data acquisition, data presentation, process control, process supervision, reporting, and storing the information are accelerating the adoption of DCS, driving the market.
Rising use of renewable resources is known to lead to the enhancement of grid development projects which includes DCS and microgrid technologies. According to the International Renewable Energy Agency (IRENA), around USD 400 billion of an annual investment in renewable energy sources is expected by the end of 2020.
This report focuses on top manufacturers (Profiles):- ABB, Yokogawa, Honewell, Emerson, SIEMENS, Foxboro, HITACHII, HollySys, Supcon, Sciyon, Guodian, Shanghai Automation
The global distribution control system market is studied for several segments to enable the a better understanding of the market landscape. Such segmentation has been passed based on type, application, and region. Based on type, the global DCS market is segmented into small size, medium size, and large size. Based on application, the global distribution control system market is segmented into chemical industry, oil & gas industry, and power generation industry.
Detailed Regional Analysis
The distribution control system market is segmented into the regions of North America, South America, the Middle East & Africa, Asia Pacific, and Europe. Asia Pacific is estimated to emerge as the most significant regional segment in the market during the forecast period. This can be owed to the rise in industrialization and mounting power generation capacity which is aligned with the rise in energy demand. Emerging markets residing in Asia Pacific, namely, India, China, and Southeast Asia are focusing heavily on investing in the renewable energy to meet the evergrowing for power. Also, renewable and nuclear power plant systems that are integrated with wind turbine generators, battery-based energy storage system, and synchronous machines are expected to supplement the demand for distribution control systems to manage and control the entire power plant effectively.
On the same note, awareness towards energy conservation and the necessity to offer an uninterrupted supply of electricity in developed regions of the world is promoting growth in the DCS market. North America and Europe held are anticipated to be major growth pockets for DCS in the forthcoming years. North America is estimated to gain the second-largest share of the market owing to the ascension noted in the oil & gas sector. Moreover, owing to new policies, cumulative investments in the market are anticipated to take place, especially in the oil & gas industry of North America.
Sept 2019: ABB recently announced their plans of partnering with Gulf Ply Paper (GPP) Company to supply them with a mill-wide distributed control system and quality control system for its new paper mill in Dammam, Saudi Arabia.
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Source: EIN Presswire