DISTRIBUTED CONTROL SYSTEMS MARKET ANALYSIS
The global distributed control systems market size was valued at US$ 35.24 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. The global distributed control systems market is expected to witness significant growth during the forecast period owing to various factors. These include growing adoption of automation in industrial sectors, increasing demand for power, and rising investments in the power generation sector. Moreover, increased adoption of internet-based DCS is anticipated to accelerate the market growth.
Global Distributed Control Systems Market Trends:
The services segment among components is gaining traction in the market
Key players in the market are increasingly emphasizing on expansion of capabilities for both project services and maintenance and operation services to continue their market expansion. The services segment of distributed control systems include project management services, retrofits, non-contract maintenance, and upgrades. With increasing number of providers of distributed antenna systems services, the service segment is gaining traction in the market. This in turn is likely to drive the demand for the segment in the market over the forecast future.
Growing clean energy and renewable power generation demand is a recent trend in the market
The urbanization and industrialization is rapidly growing all over the world, along with it the demand for energy. The production of renewable power has now been enabled at large scale all over the world in order to cater the rising demand for energy, and increasingly depleting fossil fuel. Solar and wind plants in number are growing in several regions. Thus, the use of distributed control system in solar field with local controller panels offers strong and highly reliable solutions. As a result, the demand for DCS systems is likely to increase in the near future.
Figure 1: Global Distributed Control Systems Market Share (%), By Region, 2022
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