As per a report by P&S Intelligence, the distributed control system market generated a value of USD 18,780 million in 2022, and it will reach USD 29,261 million, propelling at a 5.7% compound annual growth rate, by 2030.
The growth in the industry is credited to the increasing adoption of IoT, clean energy, smart applications, and energy-efficient technologies, as well as rapid economic development.
In 2022, the batch-oriented process category accounted for the largest revenue of the industry, generating USD 11,455 million, and it will maintain its position in the years to come. This process is usually used when the production volume is low but the requirement for excellent quality is a main concern, or when the products are made in sets.
Based on application, in 2022, the oil & gas category held the largest distributed control system market revenue share, at around 21%, and it will maintain its position in the years to come.
Moreover, the chemicals category will advance at a significant rate in the years to come. This is mainly credited to the fact that chemical companies are implementing advanced distributed control systems to enhance their product safety, efficiency, cost-effectiveness, and reliability, as well as to lessen human errors.
Based on end-use, in 2022, the APAC distributed control system industry accounted for the largest share, at 34%, and it will remain dominant in the years to come. This is attributed to the increasing industrial infrastructure, mounting adoption of nuclear and other forms of renewable energy, and the rising power generation in the region.
Moreover, the regional industry will advance in India, China, and other regional nations due to the continuing technological inventions and power generation projects. Additionally, the regional industry is also advancing rapidly owing to rapid urbanization, financial growth, and automation.
The distributed control system industry in China is advancing because the government is concentrating on lessening carbon emissions and support for clean energy projects.
Additionally, industrial automation is one of the biggest trends in APAC because of the mounting costs of manufacturing and the growing requirement for high-quality products. The distributed control system can help in decreasing the wages of the labor and the overall manpower requirement.
North America will hold a considerable share and advance at a significant rate in the years to come. This is mainly attributed to the rapidly advancing natural gas industry in the region.
It is because of the rapid economic development and growing implementation of the IoT, energy efficiency technologies, smart applications, and clean energy, the global distributed control system industry will continue to advance in the years to come.
