DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/j8ns2w/global) has announced the addition of the "Global Distributed Control Systems Market in Power Industry 2015-2019" report to their offering.
The Global DCS market in the power industry to grow at a CAGR of 3.03% over the period 2014-2019.
This report covers the present scenario and the growth prospects of the Global DCS market in the power industry during the period 2015-2019. To calculate the market size, the report considers revenue generated from the following: sales of hardware and software licenses, renewal of software licenses, upgrades of existing solutions, maintenance and services. It also presents the vendor landscape and a corresponding detailed analysis of the major vendors in the market. In addition, it discusses the major drivers that influence the growth of the market.
The flourishing economy in developing countries has been a major boost for increasing purchasing capacity, and, in turn, increase power consumption. This will shift focus on investments in new power plants, to comply with increased power requirements, resulting in increased demand for DCS solutions.
According to the report, surge in outsourcing is an important market growth driver. India and China are the ideal outsourcing destinations due to the easy availability of low-cost labor and flexible foreign direct investment (FDI) policies. Manufacturing activities vying for international standards are fully automated, and are therefore, dependent on electricity. Thus, an increase in outsourcing of manufacturing activities to APAC will increase the demand for electricity. This is expected to drive the demand for DCS solutions in the power industry.
Further, the report states that end-users, especially in developing countries, are hesitant to adopt DCS solutions in process industries.
- Emerson Electric
- Honeywell International
- Yokogawa Electric
Other prominent vendors
- General Electric
- Mitsubishi Heavy Industries
- Rockwell Automation
- Toshiba International
For more information visit http://www.researchandmarkets.com/research/j8ns2w/global