Distributed Control Systems Market – Global Industry Analysis and Forecast to 2021 to 2028

 

According to our latest market study on “Distributed Control Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Components and Industry,” the market is expected to grow from US$ 15,982.29 million in 2021 and is projected to reach US$ 23,108.60 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.

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The rapid industrialization and enhanced focus on industrial automation and increasing demand for electricity are the major factors driving the growth of the distributed control systems market. Distributed control systems are majorly used as central control unit. Countries in various regions, such as Asia Pacific, Europe, North America, Middle East & Africa, and South America, are significantly investing in procuring the most advance and highly capable distributed control systems. Based on component the distributed control systems market is segmented into hardware, software, and services. The software segment held the maximum share in 2020. Similarly, based on industry vertical the distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries.

Based on component the distributed control systems market is segmented into hardware, software, and services. The software segment held the maximum share in 2020. Similarly, based on industry vertical the distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries.

The top five companies in the market ABB Ltd.; Emerson Electric Co.; Honeywell International Inc.; Siemens AG; and Yokogawa Electric Corporation. The above listing of key players is derived by considering multiple factors such as overall revenue, current distributed control systems portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities.

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