The distributed control systems market is involved in monitoring and controlling distributed equipment from a central location. It comprises smart sensors, programmable logic controllers (PLCs) and industrial processes that allow monitoring and controlling processes remotely from multiple locations. Distributed control systems help improve reliability and productivity through centralized monitoring while lowering costs significantly. The Global distributed control systems market is estimated to be valued at US$ 35.24 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the distributed control systems market are ABB Group, Yokogawa Electric Company, Honeywell International Inc., Toshiba, Siemens AG, Azbil Corporation, Schneider Electric, Novatech LLC, Mitsubishi Electric, Omron Corporation, Rockwell Automation, METSO, and Emerson Electric Company.
Key opportunities in the market include increasing adoption of smart factory/industry 4.0 solutions and increasing focus of organizations towards predictive maintenance using AI and IoT. Technological advancements such as integration of distributed control systems with AI and IoT are helping improve efficiency, reduce downtime and automate decision making.
Market Drivers
The global distributed control systems market is primarily driven by increasing adoption of AI and IoT technologies. Integration of DCS with AI and IoT helps improve process efficiency, reduce downtime and automate decision making. It allows remote monitoring of industrial processes and predictive equipment maintenance. This helps optimize production processes and lower overall costs significantly. Growing focus of industries on predictive maintenance using technologies like AI and IoT is expected to boost the distributed control systems market during the forecast period.
Current challenges in Distributed Control Systems Market:
The distributed control systems (DCS) market is currently facing several challenges which are hindering the growth prospects. One of the key challenges is the increasing complexity of plant operations due to rapid industrialization and growing globalization. This has made the existing distributed control systems obsolete in many process and discrete industries. Modernizing these aging systems is another challenge for end-users. The suppliers are finding it difficult to address the new and evolving needs of customers. Further, keeping pace with the advancements in emerging technologies like IoT, edge computing, cloud computing, etc. is requiring huge investments from DCS vendors. The integration of DCS with other existing systems and databases for seamless data exchange also continues to challenge the industry players.
SWOT Analysis
Strength: Distributed control systems provides better reliability than centralized systems due to their distributed architecture. They improve flexibility in operations through reconfigurability.
Weakness: Initial investment required is high compared to traditional systems. Standardization across various plant sites is difficult to achieve.
Opportunity: Growth in process industries like oil & gas, chemicals offers significant opportunities. Adoption in small and medium plants also opens up an avenue.
Threats: Entry of low-cost automation contractors possessing capability to execute projects poses threat. Integration challenges with advanced technologies can limit opportunities if not addressed properly.
Geographical regions:
In terms of value, North America accounted for the largest share in the global distributed control systems market in 2022. Presence of major end-user industries like oil & gas, automotive, food & beverages has boosted the DCS deployment.
The Asia Pacific region is projected to witness the fastest growth during the forecast period. Countries like China, India, Japan, South Korea are investing heavily in expanding their manufacturing capabilities which is driving the demand. Widely spread process industries in the region relying on DCS for efficient operations will further aid the regional market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
