Market Research Report
Distributed Control Systems (DSC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Distributed Control Systems (DSC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: September 16, 2021
IMARC Services Private Limited
Content info: 145 Pages
Delivery time: 2-3 business days
The global distributed control systems (DCS) market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A distributed control system (DSC) refers to an automated management solution to supervise various industrial processes. It is used for data acquisition, data presentation, process control, process supervision and reporting information. It consists of numerous local controllers for plant control that are connected to a high-speed communication network. It also aids in minimizing the risks of component failure and facilitates the timely upgradation of obsolete technologies. In comparison to the traditionally used centralized control systems, DCS can be used for large and complex industrial processes and offers enhanced reliability of control. As a result, it finds extensive applications across various industries, such as oil and gas, chemical, food and beverage, nuclear power, wastewater management and automotive.
Significant growth in the oil and gas industry, along with increasing industrial automation across the globe, is one of the key factors creating a positive outlook for the market. Furthermore, the rising requirement for efficient optimization solutions in the power and energy sectors is providing a thrust to the market growth. DCS enables the operators to individually control, report and monitor plant components and manage databases, graphics, control logic and system security systems. Additionally, various technological advancements, such as the development of improved internet-based systems integrated with the Industrial Internet of Things (IIoT), are acting as other growth-inducing factors. These systems can process multiple variables and control signals to various valves, motors and actuators. Other factors, including rapid industrialization, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Figure 11 Global: Distributed Control System (Software) Market Forecast: Sales Value (in Million US$), 2021-2026