Integration of New Technologies Fuels Europe Distributed Control Systems Market
By adopting modular and open architectures, DCS can be easily adapted to various applications and scaled up or down depending on specific needs. This flexibility caters to a wider range of customer demands and fosters market growth. Modern architectures promoting seamless integration with different devices and systems (e.g., PLCs, SCADA) create a more collaborative and data-driven control environment.This improved interoperability attracts customers seeking integrated solutions for complex processes, expanding the market potential. Further, integrating edge computing capabilities into DCS architecture allows for localized data processing and decision-making. This reduces network traffic, improves response times, and opens doors for applications such as real-time control and optimization, attracting customers seeking improved efficiency and performance.
The DCS is often a mission-critical system for industrial users. Moreover, it is a heavy investment; hence, replacing them every time a new technology comes along, that could have a profoundly beneficial impact on the user's business, is not practical or affordable. The future DCS will solve this obstacle by being more digital, more flexible. The aim is to enable a more innovative architecture that gives users the capability to improve the DCS without disrupting the process, effectively separating the core functions of the DCS from those that are less time- or process-critical. Thus, architectural development in DCS is expected to provide significant opportunities for the distributed control system market.
Europe Distributed Control Systems Market Overview
Europe's distributed control systems market is analyzed on the basis of trends across industries in Germany, France, Italy, the UK, Russia, and the Rest of Europe. Spain, Switzerland, the Netherlands, and Denmark are among the major countries in the Rest of Europe. These countries are technologically advanced, and the governments of the countries mentioned above continuously invest substantial amounts in adopting robust and enhanced technologies. In addition, awareness related to advanced technologies is higher among European individuals and industries; hence, several technology providers find it easy to trade their products, solutions, and services in Europe.The European Union's (EU) target to drastically reduce greenhouse gas (GHG) emissions and raise the usage of carbon-neutral fuel systems to generate power is progressing steeply. For instance, in February 2024, European Commission announced that they are aiming to cut its net greenhouse gas pollution by 90% by 2040 as part of its mission to become the world's first climate-neutral continent.
The continuous emphasis on the remodeling of power generation systems from conventional fuel to renewable sources (especially hydropower) is enabling the power generation industry players to procure technologically advanced systems and solutions to monitor, control/access, and protect equipment, thereby enhancing productivity. This factor is catalyzing the growth of the distributed control systems market in Europe. In addition, several European countries have experienced growth in the number of hydropower generation units in recent years, which is bolstering the growth of the distributed control systems market in Europe.
Europe Distributed Control Systems Market Segmentation
- The Europe distributed control systems market is segmented based on component, industry vertical, and country.
- Based on component, the Europe distributed control systems market distributed control systems market is segmented into hardware, software, and services. The hardware segment held the largest share in 2022.
- In terms of industry, the Europe distributed control systems market distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries. The oil and gas segment held the largest share in 2022.
- Based on country, the Europe distributed control systems market distributed control systems market is categorized into Germany, France, UK, Italy, Spain, and the Rest of Europe. Germany dominated the Europe distributed control systems market in 2022.
- Key players operating in the Europe distributed control systems market are Honeywell International Inc, General Electric Co, ABB Ltd, Yokogawa Electric Corp, Toshiba Corp, Siemens AG, Emerson Electric Co, NovaTech LLC, Schneider Electric SE, and Rockwell Automation Inc are some of the leading companies operating in the Europe distributed control systems market.
Market Highlights
- Based on component, the Europe distributed control systems market is segmented into hardware, software, and services. The hardware segment held 46.8% share of the Europe distributed control systems market in 2022, amassing US$ 2.41 billion. It is projected to garner US$ 3.28 billion by 2030 to expand at 3.9% CAGR during 2022-2030.
- In terms of industry, the Europe distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries. The oil and gas segment held 30.2% share of the Europe distributed control systems market in 2022, amassing US$ 1.56 billion. It is estimated to garner US$ 1.95 billion by 2030 to expand at 2.9% CAGR during 2022-2030.
- Germany held 24.7% share of Europe distributed control systems market in 2022, amassing US$ 1.27 billion. It is projected to garner US$ 1.86 billion by 2030 to expand at 4.9% CAGR during 2022-2030.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe distributed control systems market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in Europe distributed control systems market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the distributed control systems market as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
Companies Mentioned
Some of the leading companies in the Europe Distributed Control Systems market include:- Honeywell International Inc
- General Electric Co
- ABB Ltd
- Yokogawa Electric Corp
- Toshiba Corp
- Siemens AG
- Emerson Electric Co
- NovaTech LLC
- Schneider Electric SE
- Rockwell Automation Inc
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 136 |
Published | August 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 5.15 Billion |
Forecasted Market Value ( USD | $ 7.37 Billion |
Compound Annual Growth Rate | 4.6% |
Regions Covered | Europe |
No. of Companies Mentioned | 11 |