|By PR Newswire||
|February 21, 2013 05:41 AM EST||
ALBANY, New York, February 21, 2013 /PRNewswire/ --
According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Distributed Control Systems Market - Global Industry Analysis, Size, Share, Trends and Forecast, 2012 - 2018," the global distributed control systems (DCS) market is expected to reach USD 19.8 billion by 2018, growing at a CAGR of 3.9% from 2012 to 2018. The oil and gas industry remained the largest end user industry for distributed control systems and accounted for more than 20% of the global market in 2012; however, power industry will be the fastest growing end use segment due to faster adoption of DCS in the industry. Asia Pacific is the fastest growing market for distributed control systems as it is the base for a number of companies using DCS solutions.
Browse the full report at http://www.transparencymarketresearch.com/distributed-control-systems-market.html
Most distributed control systems were installed during the 1980s in Europe and North America. These systems are reaching the end of their reasonable lifecycle, thus creating the need to upgrade or replace them with technologically advanced systems. In addition, increasing industrialization in developing regions of Asia Pacific, there is an increased demand for distributed control systems. Emergence of open source solutions is helping small and mid-sized enterprises to reap the benefits of DCS software solutions, thus contributing to the market growth.
The global DCS market is segmented into three major categories based on components, namely hardware, software, and services. DCS software remained the largest market and held more than half of the global market share in 2012. DCS hardware market is expected to remain the fastest growing segment owing to the installation of manufacturing and production units of different companies.
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Some of the major end users of distributed control systems include oil and gas industry, chemical industry, power industry, metal and mining industry, pharmaceutical industry, water and waste-water treatment industry, paper and pulp industry, and other processing industries. Owing to the increasing power requirement and investment from governments in different power plant projects, this segment is expected to remain the fastest growing segment during the forecast period, growing at a CAGR of 5%. Distributed control systems are largely used in the oil and gas industry to increase the production efficiency and operating time of the process. Also, these systems help in reducing the risk to human life. As a result, the oil and gas industry is expected to remain the largest end user market for distributed control systems reaching value of USD 5.1 billion by 2018.
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ABB Ltd has been the market leader since 2009 owing to a strong global presence through acquisition of smaller companies as well as customized offerings for variety of end users. Other leading players providing DCS solutions include Siemens, Honeywell, Yokogawa, Emerson, Invensys, Rockwell, and others.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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