Distributed control systems are used to control industrial processes through geographically decentralized measurement and control devices connected by a communication network. They are often used to control systems that are too complex or too geographically dispersed for standalone regulator or monolithic controllers. Advantages include modular control architecture, redundancy, and scalability.
The global Distributed Control Systems Market is estimated to be valued at US$ 35.24 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the distributed control systems market is the increasing use of artificial intelligence and machine learning capabilities. Many distributed control systems are now being equipped with AI/ML technologies to optimize plant operations. This is done by collecting vast amounts of operational data from sensors and equipment and using algorithms to identify patterns, predict failures or downtime, and recommend actions. AI abilities help improve efficiency, yield higher uptime, and reduce maintenance costs in many industrial processes.
Key players
Key players operating in the distributed control systems market include 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. ABB Group and Schneider Electric collectively accounted for over 30% market share in 2023.
Segment Analysis
The distributed control systems market is segmented by component, application, and end-user. The hardware segment dominates the market, accounting for over 50% market share in 2023. This is because distributed control systems require hardware components such as controllers, sensors, and actuators to function properly. These devices are essential in collecting data, monitoring processes, and facilitating remote operations across large production facilities and industrial environments.
Key Takeaways
The global distributed control systems market is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period, due to increasing industrial automation and growing need for remote operations.
Regional analysis
North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to strong presence of key players and rapid adoption of advanced automation technologies across industries in the US and Canada. Asia Pacific is expected to witness fastest growth owing to increasing industrialization and manufacturing activities in major countries like China and India.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
