02-Nov-2023
The presence of major pharmaceutical companies and emergence of global key players are driving up demand for the North America Distributed Control System (DCS) market during the forecast period.
North America Distributed Control System (DCS) Market was valued at USD 9.98 billion in 2022, and is predicted to reach USD 15.63 billion by 2030, with a CAGR of 4.97% from 2023 to 2030, according to new research by Next Move Strategy Consulting. The growth of the market is significantly propelled by the presence of key global market players such as ABB, Rockwell Automation Inc, and Honeywell International. These industry giants are actively employing strategies focused on product launches to fortify their global leadership positions and expand their market shares.
Their consistent drive for innovation and the introduction of state-of-the-art DCS solutions not only establish industry benchmarks but also serve as a catalyst for broader adoption of Distributed Control Systems. This competitive landscape and their unwavering commitment to technological progress make substantial contributions to the overall market's robust expansion, promoting innovation and enriching the quality and variety of DCS offerings for businesses across North America and worldwide. For instance, Honeywell launched 520.2 (R520.2) of its Experion Process Knowledge System (PKS) to introduce new process automation features and functionality to end users across the industrial sector.
However, DCS systems are inclined to cyberattacks as they are networked and computerized. Cybercriminals can gain unauthorized access to DCS systems, compromise sensitive data, and disrupt critical infrastructure, causing significant financial losses and reputational damage. The consequences of a successful cyber-attack on a DCS system can be severe, especially in industries such as power generation, oil & gas, and chemical processing, where disruptions can have significant environmental and public safety implications.
On the other hand, the introduction of modular and flexible DCS systems can create ample growth opportunities for DCS market. Traditionally, DCS systems have been highly centralized and monolithic, with large-scale installations that are expensive and complex to install and maintain.
Furthermore, introduction of modular and flexible DCS systems is changing this paradigm. Modular systems are designed to be more flexible and scalable, with a modular architecture that allows easy integration with other systems and components. This makes it easier to customize DCS systems to meet specific needs of individual organizations, without the need for costly and time-consuming customization. These systems can help to improve production efficiency, reduce costs, and enhance product quality, which is expected to propel demand for DCS systems across a range of industries, including manufacturing, energy, and process industries.
ABB’s modular-enabled process automation solution that combines an orchestration layer is one of the major examples of modular and flexible DCS system. It also consists of a module layer integrated with module type packages (MTPs) technology for cost-effective modularization. This solution is designed to provide end-users such as mining, pharmaceuticals, and biotech with an automation solution that can fit their applications better than Programmable Logic Controllers (PLCs) and costs less than a traditional DCS.
According to the report, leading players in the North America Distributed Control System (DCS) market include Yokogawa Electric Corporation, Hitachi Ltd., Omron Corporation, Emerson Electric Co., Mitsubishi Electric Corporation, ABB Ltd., Rockwell Automation Inc., Honeywell International Inc., Valmet OYJ, Toshiba Corporation, Schneider Electric SE, General Electrics, Ingeteam Corporation S.A, Azbil Corporation, and Siemens AG.
The information related to key drivers, restraints, and opportunities and their impact on the North America Distributed Control System (DCS) market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the North America Distributed Control System (DCS) market is provided in the report along with their competitive analysis.
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