Global Distributed Control Systems Market Dynamics, Competitive Landscape and Future Outlook 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 16, 2018--The “Global Distributed Control Systems Market - Segmented by Components (Software, Hardware, Services), End-User Vertical and Region - Growth, Trends and Forecasts (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global distributed control systems market was valued at USD 16.65 billion in 2017, and is expected to witness a CAGR of 3.86%, over the forecast period (2018-2023). The deployment of DCS has witnessed a sustained increase in high-risk applications, such as chemical and nuclear reactor facilities, where it is important for process managers to retain elevated levels of control over the entire plant.
With the increased adoption of smart devices, there is an increase in the demand for multifunctional microelectronics with reduced time delays and improved performance. The adoption of these devices also proved to be cost-effective with exceptional performance. The new range of DCS solutions are highly compatible with IoT-enabled devices and smart applications.
The power generation industry accounted for the largest market share in the global distributed control systems market. However, the industry has been gradually slowing down, owing to various factors, such as decreasing dependence on primary energy sources for generation, across different demographics. The emphasis on the use of renewable sources has had a definite impact on the DCS market and has led to its static nature in certain regions. The declining use of nuclear power has also been a major restricting factor for the growth of the DCS market in the power generation industry.
Companies MentionedABB Group Honeywell International Inc. Siemens AG Schneider Electric Mitsubishi Electric Rockwell Automation Emerson Electric Company METSO Omron Corporation Novatech LLC Azbil Corporation ToshIBA Yokogawa Electric Company
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Global Distributed Control Systems Segmentation
6. Competitive Intelligence - Company Profiles
7. ABB Group
8. Future Outlook of the Distributed Control Systems Market
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INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SOFTWARE
SOURCE: Research and Markets
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PUB: 05/16/2018 07:18 AM/DISC: 05/16/2018 07:18 AM