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Distributed Control Systems Market - Growing Demand from Power Industry to Create Growth Opportunities
According to the research report, the global distributed control systems market is estimated to reach a value of US$19.79 bn by the end of 2018. By type, the distributed control systems software market is projected to lead and reach US$12.15 bn by 2018. On the basis of end use, the oil and gas industry will continue to lead, surpassing US$5.04 bn by 2018. By geography, Asia Pacific is expected to lead in the coming years. The market in the region is expected to be worth US$6.89 bn by 2018.
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Increasing Demand for DCS Solutions from Power Industry to Boost Global Market
Small and medium-sized enterprises (SMEs) and other users of distributed control system software are increasingly adopting open source DCS software owing to the cost benefits offered, thus augmenting the growth of the market. Technological advancements are also driving the growth of the global DCS market. Moreover, several companies are adopting the migration strategy for replacing existing control systems with distributed control systems, which has enabled the market to post positive gains.
The rising demand for DCS from the power industry is also anticipated to bolster the global market. Because in the power industry, it is important to provide power reliably, profitably, and efficiently whenever required, it is essential to have a single integrated plant-wide control solution addressing operational and business concerns. This can be achieved by distributed control systems, thus boosting their demand across the globe.
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Free Availability of Distributed Control Systems Solutions to Hinder Growth of Market
As distributed control systems are available via open source platforms for free and can be easily downloaded, the declining prices of these solutions are acting as one of the challenges faced by the market. Another factor hampering the growth of the market is the limited technical skills at the end user level. In addition, the overlapping of functionalities in the supervisory control and data acquisition (SCADA) and the DCS systems make it difficult for consumers to distinguish between these two systems, which may affect the growth of the market.
Retrofits to Emerge as Opportunity in Global Distributed Control Systems Market
The revamping and building of new power stations are some of the significant opportunities for growth in the global DCS market. In North America, for instance, there are around 5 mn buildings existing that can be retrofitted. Retrofits are emerging as an attractive option with a rise in energy costs, lower rate of occupancy, and difficulty in raising capital for new construction. Additionally, many suppliers are engaged in upgrading their existing systems
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