The global Distributed Control Systems Market is expected to reach USD 20.39 billion by 2020, according to a new study by Grand View Research, Inc. Increased DCS use in industrial applications such as power generation, water and waste water, pharmaceuticals, oil and gas, chemicals, and paper and pulp is expected to drive the market over the forecast period. Growing demand for power has resulted in the set up of new power generation stations and upgradation of existing ones by various governments, which is expected to favorably impact DCS demand.
Cost effectiveness,
development of open source DCS and ability of implementation in hazardous
environments are further expected to boost market growth. Need for technical
expertise and lack of differentiation among specific DCS products are expected
to pose a challenge for industry participants over the next six years.
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Further key findings from the study suggest:
- DCS software
dominated the global market and accounted for over 60% of the overall
market share in 2013. This is primarily due to need for system upgradation
by existing distributed control systems. DCS hardware is expected to
witness the fastest growth over the forecast period due to increased
Greenfield projects in Asia Pacific.
- Oil and gas
was the largest end-use industry in 2013 and accounted for over 24% of the
overall market share due to increased demand for technologically advanced
systems for controlling and monitoring activities, enabling higher
production. The use of DCS in the power industry is expected to witness
significant growth over the forecast period.
- Asia Pacific
is expected to be the market leader over the next six years, and
contributed 31.5% to the global market revenue in 2013. It is further
expected to grow at a CAGR of 4.2% from 2014 to 2020, mainly on account of
increased demand for small distributed control systems due to price
sensitivity among consumers in the region.
- Companies
operating in the market include ABB Ltd, Siemens AG, Bharat Heavy
Electrical Ltd, Rockwell Automation Inc., GE Electric, Honeywell
International Inc, Emerson Electric Co., Toshiba International Corp. and
Invensys Plc.
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View Research, Inc. is a U.S. based market research and consulting company,
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company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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