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 up gradation 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.
For the purpose of this study, Grand View Research has segmented the global distributed control systems market on the basis of product, end-use industry and region:
Distribution Control Systems Product Outlook (Revenue, 2012 - 2020)
- Hardware
- Software
- Services
- Chemical
- Metal and Mining
- Oil and Gas
- Pharmaceutical
- Power
- Pulp and Paper
- Water and Waste Water Treatment
- Others
- North America
- Europe
- Asia Pacific
- RoW
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