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Global distributed control systems market: 3.4% CAGR growth forecast between 2012-16

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Global Distributed Control Systems (DCS) Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-26 07:56:04
The Global Distributed Control System (DCS) market is to grow at a CAGR of 3.35 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for DCS solutions in the Power industry. The Global DCS market has also been witnessing the development of integrated solutions. However, the declining price of DCS solutions could pose a challenge to the growth of this market.

The integration of DCS solutions with plant management systems is one of the key trends in the market. In order to optimize plant operation, organizations need the kind of DCS solutions that can be easily and effectively integrated with other plant operations. Therefore, some of the key vendors in the market such as ABB Ltd. and Honeywell International Inc. have started offering additional services to their customers that would help them easily integrate the DCS solutions with their plant management systems. The plant management system includes the process control, process electrification, power distribution, and management systems of the plant. Such integrated systems enable organizations to obtain information from all parts of the plant at a central location, thus reducing the failure rate and improving the decision-making capabilities of the organizations.

The market is witnessing many growth drivers such as the increasing demand for DCS solutions from the Power industry, and the emergence of open-source DCS solutions. However, the major forces that are driving the market are the migration from legacy systems to DCS solutions and the need to improve decision-making systems.

A major challenge in the market is the declining price of DCS solutions. The lack of product differentiation from SCADA systems is another challenge in the market.

The key vendors dominating this market space are ABB Ltd., Emerson Electric Co., Honeywell International Inc., and Siemens AG.

The other vendors are General Electric Co., Invensys plc, Mitsubishi Heavy Industries Ltd., and Yokogawa Electric Corp.

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