Distributed control systems market size, share, revenue, trends and drivers for 2024-2033

The Business Research Company’s Distributed Control Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The distributed control systems market has experienced robust growth in recent years, expanding from $19.14 billion in 2023 to $20.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growing use of renewable energy for power generation, growing industrial infrastructure, focus on operational efficiency and cost reduction, thriving power industry and increased capabilities of power generation, compliance and safety rules.

Strong Future Growth Anticipated
The distributed control systems market is projected to continue its strong growth, reaching $25.56 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to increase in power demand and energy-efficient technologies, rising demand for 5G and IIOT technologies across industries, increasing industry automation, automation and digitization in the industrial sector, rise in demand for energy across developing countries.

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Growth driver of the distributed control systems market
The growing use of renewable energy for power generation is expected to propel the growth of the distributed control systems market going forward. Renewable energy refers to the energy derived from natural sources that are replenished at a higher rate than they are consumed. Distributed control systems can help manage the integration of renewable energy sources into the power grid by dynamically adjusting power generation and distribution to match demand.

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Major Players and Market Trends
Key players in the distributed control systems market include General Electric Company, Siemens AG, Hitachi Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Corporation, ABB Ltd., Toshiba Corporation, Larsen & Toubro Limited, Emerson Electric Co., Rockwell Automation, Inc., Omron Corporation.

Major companies operating in the distributed control system market are developing innovative products, such as Symphony Plus, to support the power generation and water industries. Symphony Plus is a distributed control system designed to maximize plant efficiency and reliability through automation, integration, and optimization of the entire plant.

Segments:
1) By Component: Hardware, Software, Services
2) By Shipment Scale: Large, Medium, Small
3) By Application: Continuous Process, Batch-Oriented Process
4) By End-User: Oil And Gas, Chemicals, Power Generation, Pharmaceutical, Food And Beverage, Other End-Users

Geographical Insights: North America Leading the Market
North America was the largest region in the distributed control systems market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of distributed control systems.

Distributed Control Systems Market Definition
A distributed control system (DCS) is a computerized control system for a process or plant, usually with many control loops, in which autonomous controllers are distributed throughout the system, as opposed to a centrally located single unit. The purpose of a distributed control system (DCS) is to provide automatic control of industrial processes in vast control areas. This system architecture offers more profitable ways to increase and maintain control, process quality, and reliability for the efficiency of the facility.

Distributed Control Systems Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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