London, 25 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the DCS market in the APAC 2015-2019, which is estimated to grow at a CAGR of 3.87% during the forecast period of 2014-2019.
Greater investment in oil and gas production and refining is boosting market growth, as is the development of infrastructure in developing countries such as China and India. The resurgence of power generation projects after the global recession, along with the initiation of large-scale greenfield projects, is expected to drive demand for both DCS solutions and associated software applications.
“To optimize plant operations, organizations need DCS solutions that can be easily and effectively integrated with other plant operations,” says Faisal Ghaus, Vice President of Technavio.
“Key vendors such as ABB and Honeywell have already begun to offer additional services to their customers for easy integration with plant management systems.”
Key Market Drivers
- Increased investment in renewable energy sources
- Rising demand for chemical and petrochemical products
- Growing demand for oil and gas
Key Market Trends
- Increased economic growth in developing countries
- Integration of DCS solutions with plant management systems
- Increased emphasis on cyber security
Key Market Vendors
- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- Yokogawa Electric Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
