Distributed Control Systems Market - Global Industry Analysis, Size, Share, Trends And Forecast 2012-2018
Albany, NY -- (SBWIRE) -- 05/26/2015 -- Transparency Market Research's report "Distributed Control Systems Market - Global Industry Analysis, Size, Share, Trends And Forecast 2012 - 2018" delivers key insights of the DCS market. According to this report, the global distributed control systems market is estimated to reach a market value of US$19.8 billion by 2018 and demonstrate a CAGR of 3.9% during the forecast period from 2012 to 2018.The global distributed control systems market is majorly driven by its elevated use in the oil and gas industry. The report states that the oil and gas industry in the global distributed control systems (DCS) market will reach an estimated value of US$5.1 billion by end of 2018.
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The oil and gas industry is the leading end user of the distributed control systems (DCS) market and contributed to 20% of the market revenue. However, it is expected that the demand for power which falls under the other end user segment will outpace the oil and gas industry in terms of share in the coming few years. This shift will occur due to the rapidly growing acceptance of distributed control systems in the power industry. The power plant segment in the global distributed control systems market will grow at the highest CAGR of 5% during the forecasting horizon.Other end-user industries of the global distributed control systems (DCS) market are chemicals, metal and mining, waste and wastewater treatment, pulp and paper, pharmaceutical, and other process industries. These industries are witnessing a rising demand for manufacturing owing to which their power consumption has significantly increased. As a consequence, the increment in power demand will also fuel investments from a number of state-owned bodies in the global distributed control systems (DCS) market.
By component type, the global distributed control systems market is classified into DCS services, DCS software, and DCS hardware. DCS software stood out as the largest sector in the global distributed control systems (DCS) market, and held over 50% share in 2012. However, DCS hardware is anticipated to emerge as the fastest growing sector due to growing number of replacement and upgrades of systems. The majority of distributed control systems were set up during the 1980s in the industrialized regions of North America and Europe. However, most of these regions are now older than 20-30 years and in need for upgrade. The trend of replacing these old systems with efficient distributed control systems is rapidly gaining pace, which will boost the DCS hardware component sector.
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Geographically, the global distributed control systems (DCS) market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). In Asia Pacific, several industrializing countries have resulted in a high demand for distributed control systems. With the advent of open-source solutions, subject matter experts can take advantage of DCS software, which is another factor driving the global DCS market.
The global distributed control systems (DCS) market is witnessing a number of M&As. Notable companies operating in the global distributed control systems market are ABB, Siemens, Yokogawa, Honeywell, Emerson, Invensys, and Rockwell. Presently, ABB Ltd. is leading the market followed by Siemens AG and Honeywell.
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