LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global distributed control systems (DCS) market in the oil and gas industry since 2014 and the market is poised to grow by USD 550.82 million during 2019-2023, progressing at a CAGR of over 3% during the forecast period. Request Free Sample Pages
Read the 142-page research report with TOC on "Distributed Control Systems Market in the Oil and Gas Industry Analysis Report by Product (Software, Hardware, and Services), by Geography (North America, MEA, Europe, APAC, and South America), and Segment Forecasts, 2019 – 2023."
The market is driven by the emergence of new refinery projects. In addition, the rise in adoption of automation systems is anticipated to further boost the growth of the distributed control systems market in the oil and gas industry.
The emergence of new refinery projects will be one of the major drivers in the global distributed control systems market in the oil and gas industry. Refineries are the major end-users of distributed control systems in the oil and gas industry. DCS are widely deployed in refineries to process real-time data during refinery operations. Moreover, refineries consist of several processing units that enhances safety, and helps achieve high economies of scale, and extracts valuable finished products. These units are controlled independently by distributed control systems. In addition, the need to produce low carbon emitting fuels has increased investments in refinery upgrade programs, which has led to the emergence of brownfield projects in the refinery sector. These projects will directly contribute to the demand for distributed control systems from refineries in the oil and gas industry.
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Major Five Distributed Control Systems Companies in the Oil and Gas Industry:
ABB operates the businesses under various segments such as electrification products, robotics and motion, industrial automation, and power grids. The company offers the ABB Ability System 800xA and Freelance DCS.
Emerson Electric Co.
Emerson Electric Co. operates the business under two segments, which include automation solutions and commercial and residential solutions. The company offers DeltaV DCS.
Honeywell International Inc.
Honeywell International Inc. has business operations under various segments, namely aerospace; home and building technologies; performance materials and technologies; and safety and productivity solutions. The company offers the Experion Process Knowledge System (PKS) Orion and Experion PKS.
Rockwell Automation, Inc.
Rockwell Automation, Inc. operates the business under two segments, which include architecture & software and control products & solutions. The company offers the PlantPAx system.
Schneider Electric operates the businesses under the following segments: low voltage and medium voltage, industrial automation, and secure power. The company offers EcoStruxure Foxboro DCS.
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Distributed Control Systems Market in the Oil and Gas Industry Product Outlook (Revenue, USD Million, 2019 - 2023)
Distributed Control Systems Market in the Oil and Gas Industry Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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