DCS: Key market research findings
- Growing demand for smart factories
- Growing investments in renewable energy sources
Technavio has released a new market research report on the global DCS market, which is expected to grow at a CAGR of around 4% between 2016 and 2020. DCS technologies offer a range of automation solutions that are designed to control and monitor industrial production. Growing need among enterprises to enhance their functionality and optimize productivity, improve worker and process safety, and reduce production costs, have fuelled the implementation of DCS in organizations. APAC dominates the global DCS market, owing to major investments in pipelines to transport oil and gas.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Several factors like digitization and automation solutions are expected to help companies to achieve control, flexibility, and better communication to get ahead of their competitors. The adoption of DCS solutions has helped manufacturing operations truly become smart facilities with reduced human involvement, fewer accidents and better products. Extensive use of DCS technologies will propel the growth of this market during this forecast period and beyond,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research
High demand for DCS solutions from the power generation industry is one of the main drivers for the global DCS market. Organizations across the power generation industry are replacing legacy control systems with DCS solutions, since legacy systems are not cost-effective compared to DCS solutions. Moreover, the need for effective power projects such as natural gas power projects, nuclear power plant projects, solar power projects, and wind power projects is driving market demand for DCS solutions. Of late, developing countries such as India and China are shifting towards nuclear power plants, which has created huge market opportunities for the growth of the global DCS market during the forecast period.
The leading vendors in the global DCS market include ABB, Emerson Electric, Honeywell, Schneider Electric, and Siemens. This market has many vendors and competition is very intense. Vendors compete on the basis of custom services, solutions and price. Established vendors are expanding operations by setting up new units in emerging markets and extending their sales networks. Mergers and acquisitions between large vendors are also part of the landscape.
A more detailed analysis is available in the Technavio report, Global DCS Market 2016-2020
We can customize reports by other regions and specific segments upon request.
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