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New York, August 17, 2021 (GLOBE NEWSWIRE) – Distributed Control Systems Market Overview: According to a comprehensive research report from Market Research Future (MRFR), “Distributed Control Systems Market Research Report, Component, Application, End Use and Region – Forecast to 2027 ” The market size is expected to reach USD 29.48 billion by 2028, registering a CAGR of 5.30% during the forecast period (2021 – 2028). The market was valued at USD 19.22 billion in 2020.
There has been a steady increase in demand for electricity as a result of which substantial investments have been made, especially in economies such as the Middle East, Asia-Pacific and Africa to increase capacity of electricity production. Investments in conventional power generation in Middle Eastern countries such as Egypt and Oman and investments in renewable power generation in Asia-Pacific and African countries such as China, India and South Africa were planned to meet the growing demand for electricity. Qatar has ambitious plans to increase its power generation capacity by 50% by 2019-2020. India plans to add 266 GW of power generation capacity using solar, wind, mini-hydro and biomass sources over the next 5-10 years. India is expected to see investments worth around $ 310 billion to $ 350 billion. The Indonesian has put in place an ambitious comprehensive electrification plan; To achieve this, the Indonesian government plans to add 35 GW by 2019.
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The List of Key Companies Presented in the Distributed Control System Market Research Report are:
- Emerson (United States)
- Schneider Electric (France)
- Rockwell Automation (United States)
- Honeywell International Inc. (United States)
- Siemens (Germany)
- General Electric (United States)
- Yokogawa (Japan)
- ABB (Switzerland)
- Toshiba (Japan)
- Azbil Corporation (Japan)
- Hitachi (Japan)
- Metso Corporation (Finland).
Competitive landscape
Due to the major strong market competitors, the distributed control systems market is extremely competitive. Local suppliers pose a significant threat to multinational distributors. As a result, major market players are paying more and more attention to R&D investments and huge productions in order to survive. In addition, the main players offer a distributed control system compatible with a variety of industrial technologies. The success of leading companies in the market is based on improving process automation using the DCS system.
Browse the In-Depth (111 Pages) Distributed Control System Market Research Report
https://www.marketresearchfuture.com/reports/global-distributed-control-system-market-1698
COVID-19 will have a temporary impact on the global market
COVID 19 has prompted a number of industries to shut down. It has also changed the market trends for distributed control systems. The main restraints in the distributed control systems market are substantial revenue losses. In the DCS market, the pandemic has resulted in high prices and low demand. This impacted the fundamental production process of DCS products. The distribution control systems industry, on the other hand, plans to increase production in the coming year. Manufacturing industries are increasing their need for DCS systems, which increases the revenues of the distributed control systems market.
High cost of manufacture and maintenance
The initial cost of installing and maintaining the distributed control system is higher. The major restrictions in the disrupted control systems market are the expense of technology. As a result, the main players are thinking about the different cost reduction strategies of DCS. The biggest danger to the global market is the high cost of manufacture. In addition, hybrid systems are used as an alternative to DCS in the best industries. This is yet another major obstacle to the growth of the DCS market. It is a low cost replacement which can reduce the demand for the distributed control system.
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Market segmentation
The global distributed control systems industry has been segmented into components, applications and end uses.
By component, the global distributed control systems market has been segmented into hardware, software, and services.
By Application, the global distributed control systems market has been segmented into continuous and batch.
In terms of end use, the global distributed control systems market has been segmented into oil and gas, power generation, chemicals, pharmaceuticals, and metals and mining.
Regional analysis
APAC to lead the global market
The market for distributed control systems in Asia-Pacific is the fastest growing. Growth is expected to be more pronounced during the forecast year 2027. In these regions, the market is driven by economic growth and technological innovation.
North America will follow APAC
North America is the world’s second largest market for distributed control systems. Government policies, tax breaks, rural energy initiatives and reforms are the driving forces of the market in this region. These regional enterprises, according to the Distributed Control Systems Market analysis, are believed to be significant contributors to the market growth in 2027.
Market segmentation covered by research:
Information by component (hardware, software, services), by application (continuous, batch oriented), by end use (oil and gas, power generation, chemicals, pharmaceuticals, metals and mining) and by region (North America , Europe and Asia -Pacific))
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Market Research Future (MRFR) is a global market research company that takes pride in its services, providing comprehensive and accurate analysis with respect to various markets and consumers around the world. Market Research Future has a distinguished goal of providing high-quality research and granular research to customers. Our market research by products, services, technologies, applications, end users and market players for global, regional and national market segments, enables our clients to see more, learn more and do more, which helps answer your most important questions. questions.
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