NEW YORK, May 25, 2020 /PRNewswire/ -- The distributed control system market in Europe was valued at US$ 4,701.8 million in 2018 and is projected to reach US$ 6,753.9 million by 2027; it is expected to grow at a CAGR of 4.3% from 2019 to 2027. The scope for automation is growing at a rapid pace with an on-going industrialization and the adoptions of highly advanced technological integrations in some of the major industry verticals. Automation in industries is gaining high momentum owing to the fact of enhanced efficiency and productivity caused by industrial automation in their production processes. Moreover, DCS being a vital part of industrial automation, it is significantly witnessing a rise in its integration.
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Software segment by component led the distributed control system market from 2019 to 2027.DCS consists of some optional supervisory software that performs production management and advanced control functions.
This software resides in the supervisory DCS server.The DCS software component offers various advantages such as easy computation and analysis, greater flexibility, and better control over the plant.
Increasing investment by IT companies to improve the workflow and increase efficiency is the major factor influencing the growth of DCS software market.
Overall size of the European distributed control system market has been derived using primary and secondary sources.The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the European distributed control system market.
It also provides an overview and forecast for the distributed control system based on all segmentation provided with respect to the European region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the distributed control system. ABB Ltd, Emerson Electric Co, General Electric, and Rockwell Automation are some of the players present in the European distributed control system market.
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