Distributed Control Systems Market Demand, Investment And Forecast 2028

According to Premium Market Insights new research study on "Distributed Control Systems Market is expected to grow from US$ 15,982.29 million in 2021 to US$ 23,108.60 million by 2028; it is estimated to grow at a CAGR of 5.4% during 2021-2028.

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Some Of the Major Players Influencing are A few major players operating in the global distributed control systems market are ABB Ltd.; Emerson Electric Co.; General Electric Company; Honeywell International Inc.; NovaTech, LLC; Rockwell Automation, Inc.; Schneider Electric SE; Siemens AG; Toshiba Corporation; and Yokogawa Electric Corporation.

The manufacturing sector in North America has witnessed rapid growth in recent times due to huge investments gathered from the governments of the US, Canada, and Mexico. The purchasing managers index (PMI) of the North American manufacturing reached 62.1 in June 2021. The robust PMI in the region indicates strong rebound in the manufacturing sector, significant progress in the emerging industrial sector in Mexico, and rising prices of commodities in different countries. The manufacturing industries are projected to adopt advanced technology to continue with their streak of expansion and productivity improvement. Moreover, on the basis of cost, quality, service, and time-to-market, various product manufacturers are facing severe rivalry from their competitors. They are also facing significant hurdles in maintaining a perfect balance between product demand and supply. As a result, they tend to focus on their core capabilities. As the functionality of equipment such as that of robots increases, non-automotive industries are projected to accelerate their usage of industrial automation. These figures are encouraging for manufacturers since they show that there is still a lot of room for adoption to grow. Low penetration is projected to accelerate significant growth during the forecast period, as long as the government provides significant support to the manufacturers. Distributed control systems enable remote monitoring of activities and ensure enhanced efficiencies with scaled up productivity in manufacturing plants. The increasing adoption of automation in the manufacturing sector is propelling the demand for integration of DCS, further driving the market growth.

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The distributed control systems market is segmented on the bases of component, industry vertical, and geography. Based on component, the distributed control systems market is bifurcated into hardware, software and services. The software segment represented a larger share of the overall market in 2020. Based on industry vertical, the distributed control systems market is segmented into Power Generation, Oil and Gas, Pharmaceutical, Food and Beverages, Chemicals, and Other Industries. In 2020, the Oil and Gas segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, APAC accounted for the significant share in the global market.

The COVID-19 pandemic has shaken several industries across the world. The lockdown hindered the operations of various industries, including manufacturing and IT. However, essential industries such as fast-moving consumer goods (FMCG) and pharmaceutical had to continue their operations. Various big construction projects, including airport modification and expansion, were also halted due to the pandemic, specifically in countries such as the US and Canada. North America is known for the highest rate of adoption of advanced technologies due to favourable government policies to boost innovation and strengthen infrastructure capabilities. As a result, any factor affecting performance of industries in the region hinders its economic growth. Currently, the US is the world's worst-affected country due to the COVID-19 outbreak, which has led governments to impose several limitations on industrial, commercial, and public activities in the country, to control the spread of infection. The impact was not only from the demand side, but it was also from the supply side. Since manufacturing facilities in the north America region were not operational for months, supply chain and procurement of raw material were disrupted. Due to this, OEMs saw prominent challenge in keeping up with the quarterly revenue. Therefore, the financial year of 2020 for the distributed control systems manufacturers was more dreadful than the financial year of 2019.

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The overall distributed control systems market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the distributed control systems market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the distributed control systems market.

Table Of Contents
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Distributed Control Systems Market - By Component
1.3.2 Global Distributed Control Systems Market - By Industry Vertical
1.3.3 Global Distributed Control Systems Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Distributed Control Systems - Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific (APAC)
4.2.4 Middle East and Africa (MEA)
4.2.5 South America (SAM)
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Distributed Control Systems Market - Market Dynamics
5.1 Key Market Drivers
5.1.1 Rapid Industrialization and Enhanced Focus on Industrial Automation
5.1.2 Increasing Demand for Electricity
5.1.3 Rise In Labor Costs and Emphasis on Production Accuracy
5.2 Key Market Restraints
5.2.1 High Capital Expenditure Requirements
5.3 Key Market Opportunities
5.3.1 Increasing Number of Infrastructure Development and Smart City Projects
5.4 Future Trends
5.4.1 Integration of Industrial IoT (IIoT) and Artificial Intelligence in Industrial Processes
5.5 Impact Analysis of Drivers and Restraints
Continued…...!

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