New York, 03 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Distributed Control System Market by Shipment Scale, by Component, Application, End-use Industry And Region – Global Forecast to 2026” – https://www.reportlinker. com/p05169957/?utm_source=GNW
“Software by Component segment is expected to grow at the highest CAGR from 2021 to 2026.” Based on the component of DCS systems, the software component is estimated to be the fastest growing market from 2019 to 2026. The software segment includes computer applications such as advanced process control systems, controller integration with DCS, technology libraries, telecontrol software, connectivity solutions, parameter control and materials management systems, process optimization and safety solutions, and advanced software and virtualization solutions. It provides a common platform for devices to connect and operate. Upgrades to legacy software, increased use of distributed control systems in cloud computing technologies, and upcoming technologies such as IoT are the major drivers for the software segment of the DCS market.
Software solutions are cost-effective and can be easily replaced and upgraded. “Continuous Process Segment by Application is Expected to Become the Largest Segment for DCS Implementation” Continuous Process Segment, by Application is expected to hold the highest market share during the forecast period. Continuous process is a method where the manufacturing process is carried out without any interruptions and is generally preferred when producing large quantities. It is the fastest growing application in the DCS market.
The continuous production process is used in the oil and gas, chemical, power generation, and water and wastewater treatment industries and is one of the most efficient production methods and the most profitable. The use of distributed control systems in the nuclear and renewable energy sectors in the power generation industry and in the upstream and downstream activities of the oil and gas industry are the major factors driving the continuous process segment.
Rising production of chemicals and increasing demand for timing control systems in the refining industry are also contributing to the growth of the segment. “Asia-Pacific: Largest DCS Market” Asia-Pacific is currently the largest DCS market, followed by North America and Europe. China accounted for the maximum Asia-Pacific market share in 2020. It is also expected to grow at the highest CAGR from 2021 to 2026.
The market is expected to grow owing to rapid industrialization, urbanization, and economic growth in the region, resulting in the installation of new DCS systems in various emerging economies. Breakdown of primaries: In-depth interviews were conducted with various key industry players, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The breakdown of the main interviews is as follows: by type of company: level 1 – 65%, level 2 – 24% and level 3 – 11% by designation: level C-30%, director level – 25% and other – 45 % By region: Asia-Pacific – 70%, North America – 10%, Middle East – 10% and Europe – 10% Note: Other includes sales managers, engineers and regional managers. Note: Company tiers are defined based on their total revenue from 20120. Tier 1: >$1 billion, Tier 2: $500 million to $1 billion, and Tier 3:
The major players in the DCS market are ABB (Switzerland), Schneider Electric (France), Emerson (US), Siemens (Germany) and Honeywell (US). Research Coverage: The report defines, describes and forecasts the global DCS market, by shipping scale, by component, by application, by end-user, and by region. It also offers detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of key market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include analysis of the competitive landscape, market dynamics, market estimations, in terms of value, and future DCS market trends. Key Benefits of Purchasing the Report The report identifies and discusses major DCS Markets which would help DCS manufacturers examine the growth in demand.
2. The report helps system vendors understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players to better understand their competitors’ strategies and help them to make better strategic decisions
Read the full report: https://www.reportlinker.com/p05169957/?utm_source=GNW
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