According to the new market research report "Distributed Control Systems Market by Industry (Oil & Gas, Chemicals, Power Generation, Metals and Mining, Pharmaceutical, Paper and Pulp, Food and Beverage), Component (Hardware, Software, Services), Application, and Region - Global Forecast to 2022", the global distributed control system market is expected to grow at a CAGR of 4.97%, from 2017 to 2022, to reach a market size of USD 20.33 billion by 2022. Expanding industrial infrastructure in regions such as Asia Pacific, the Middle East, and Africa and the booming power sector and augmented power generation capacities worldwide are likely to drive the DCS market during the forecast period.
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The distributed control system market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the distributed control system (DCS) market include ABB (Switzerland), Siemens (Germany), Honeywell (US), Yokogawa (Japan), Emerson (US), Schneider Electric (France), General Electric (US), Rockwell (US), Toshiba (Australia), Metso (Finland), Azbil (Japan), Novatech (US), Mitsubishi (Japan), Hitachi (Japan), Can-Technologies (Canada), CG Power (India), Chint Electric (China), Larsen & Toubro (India), Hyosung (South Korea), Andritz (Austria), Mobile Automation (Australia), HollySys (China), ZAT (Czech Republic), Concept Systems (US), and Ingeteam (Spain).
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The services segment is expected to be the fastest-growing segment of the distributed control system market, by component, from 2017 to 2022. This segment is expected to witness steady growth due to the need for plant optimization and replacement of existing distributed control systems in Europe and North America.
The power generation segment is estimated to be the fastest-growing segment of the distributed control system (DCS) market, by end-use industry, from 2017 to 2022. DCS are used to control various power generation processes such as boiler side valves, fans, turbines valves, and boiler coal firing. Retrofit and modernization projects in Europe and North America are expected to contribute to the growth of the power generation market.
The continuous process segment of the distributed control system market, by application, is estimated to grow at the highest CAGR from 2017 to 2022. The increased production of chemicals, use in the nuclear and renewable sectors in the power generation industry, and need for process control in new refineries will drive the continuous process segment.
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The DCS market in Asia Pacific is projected to grow at the fastest rate from 2017 to 2022. Rapid economic growth in the region would lead to an increase in the demand for power. The increased investment in the power generation sector to meet the industrial and residential demand for electricity will boost the demand for DCS in the region.