Distributed Control System Market To Generate $29,261 Million Revenue by 2030
- Published: March 2023
The distributed control system market size is expected to advance at a CAGR of 5.7% during 2022–2030, to reach USD 29,261 million by 2030.
The growth is mainly ascribed to the rising demand for smart applications, increasing adoption of the internet of things (IoT), rapidly growing economies, and the fact that DCSs help reduce operational costs for industries.
In July 2022, Emerson announced the validation of the Dragos Platform within its DeltaV distributed control system, providing organizations with enhanced cybersecurity for industrial controls and operational technology.
Moreover, in June 2021, ABB launched the ABB Ability System 800xA 6.1.1, which offers better Ethernet I/O capabilities, faster commissioning of greenfield projects and expansion of brownfield sites with a new and improved Ethernet I/O field kit, and enhanced security.
Augmenting Global Power Generation Capacity
Global power demand has been steadily increasing, which has led to significant investments, mainly in APAC and the MEA, to enhance the power production capacity. Funding for conventional power production has been provided in several Middle Eastern countries, such as Oman and Egypt, while in APAC and African countries, including China, South Africa, and India, governments are planning to spend on boosting their renewable power capacities.
The power sector has been essentially booming due to industrialization and the population growth. Boiler side valves, fans, turbine valves, and boiler coal burning are some of the components and operations in the power sector that are controlled by distributed control systems. To support the growing urbanization of the population, municipalities have increased their spending on power production, which is why the demand for distributed control systems is expected to rise in the future.
In addition, Qatar has made plans to generate nearly 5 Gigawatts of solar power by 2035. India has also made a plan to add nearly 266 GW of wind, mini-hydel, solar, and biomass power capacity over the next decade, which would entail an investment of up to USD 350 billion.
Similarly, as per the Power Procurement Plan of Perusahaan Listrik Negara, the Government of Indonesia has planned to construct power plants with a combined capacity of 41 GW in the coming 10 years.
Service Category Holds Significant Market Share
The main reason behind the significant share and growth of the service category is the increasing need for plant optimization across industries. DCS-related services include installation, upgrades, maintenance, plant asset management, alarm management, consulting, simulation & training, technical assistance, and migration. Sometimes, the existing DCS requires to be changed because of breakdowns and implementation of new IIoT communication protocols. Therefore, the major goal of maintenance services is to keep the system functioning appropriately and prevent any downtime.
Some of the major players operating in the distributed control system market are ABB Ltd., Schneider Electric SE, Emerson Electric Co., Siemens AG, Honeywell International Inc., Yokogawa Electric Corporation, HollySys, Automation Technologies Ltd., Concept Systems Inc, and ZAT a.s.