Technavio Report Covers Growth Prospects of Global Distributed Control System Market in Power Industry

Technavio has published a new report on the global distributed control system (DCS) market in the power industry, which is expected to grow at a CAGR of over 3% from 2015-2019.

About the Report

The latest report by Technavio draws attention towards the growing demand from replacement market, which is driven by the existing power generation units that require timely upgrades to maintain efficiency. Effective deployment of automation solutions such as DCS will enable electricity providers to improve their operational productivity.

“Many countries in Europe and North America still have old infrastructure units, thus enabling numerous opportunities in the retrofit market,” says Faisal Ghaus, Vice President of Technavio.

The latest report by Technavio also emphasizes the integration of DCS solutions with plant management systems, which includes process control, process electrification, power distribution, and management systems of a plant.

“Vendors like ABB and Honeywell have started offering additional services to their customers to increase the ease of operability, and facilitate smooth integration of the DCS solutions with their plant management systems,” adds Ghaus.

Market Scope and Calculation of Market Size

The new Technavio report covers the present scenario and growth prospects of the global distributed control system market in the power industry from 2015-2019. It considers revenue generated from sales of hardware and software licenses, renewal of software licenses, upgrades of existing solutions, maintenance, and services.

Key Information Covered in the Report:

• Key Vendors:
  • ABB
  • Emerson Electric
  • Honeywell International
  • Siemens
  • Yokogawa Electric
• Market Growth Drivers:
  • Growing demand from replacement market
  • For a full detailed list, view our report.
• Market Challenges:
  • Competition from SCADA systems
  • For a full detailed list, view our report.
• Market Trends:
  • Increased emphasis on cyber security
  • For a full detailed list, view our report.

Technavio currently has more than 3000 market research reports on a huge range of topics, including 200+ reports on the DCS market:

• Global Distributed Control Systems (DCS) Market 2012-2016
• DCS Market in APAC 2015-2019

If you are interested in more information, please contact our media team at [email protected].

Source: http://www.technavio.com/