Global Distributed Control Systems (DCS) Market
Global Distributed Control Systems (DCS) Market report published by Accurize Market Research forecast that the global market is expected to reach $26 billion by 2025; growing at a CAGR of 4.5% from 2017 to 2025. By geography, the Asia Pacific and RoW are expected to grow at a CAGR of 5.7% and 4.4%, respectively, during the forecast period.
Increased demand for energy generation through the renewable resource to drive the market
Major factors driving the global DCS market include the emergence of open sources DCS solutions, growth in energy generation based on renewable resources, and cost & time effectiveness. Though, slow industrial growth in developed economies would act as a restriction for the market. Rapid industrialization and technological advancement would provide numerous growth opportunities for the global DCS market in the coming years.
The global distributed control systems market is bifurcated on the basis of component and end user. The component segment is further divided into DCS hardware, DCS software, and DCS services. The end user segment includes oil & gas, chemical, power, pulp & paper, pharmaceutical, metal & mining, water & wastewater management, and others. On the basis of geography, the global DCS market has been categorized into North America, Europe, Asia-Pacific and Rest of the world.
"DCS software accounted for the largest market share in the component segment", says Accurize
DCS software accounted for the largest market share in the overall component segment in 2017. DCS hardware segment is expected to attain the fastest CAGR during the forecast period, due to the increased number of replacement and system upgrades. Furthermore, oil & gas dominated the end user segment driven by the increased demand for innovative systems to control and monitor activities.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific accounted for the largest mar