The total size of the distributed control system market was USD 18,780 million in 2022, and it will power at a CAGR of 5.7% by the end of this decade, to touch USD 29,261 million by 2030.
The development has a lot to do with the fast economic expansion and increase in the acceptance of the IoT, clean energy, energy-competent technologies, and smart uses.
The oil & gas category had the largest share of revenue, of about 21%, in 2022, and the situation will be like this in the years to come.
All the key divisions of E&P operations midstream, downstream, and upstream are substantial revenue generators in the industry.
Chemicals will grow significantly, because chemical companies are accepting advanced distributed control systems for improving their production safety, reliability, efficiency and cost-effectiveness and decrease human errors.
A DCS has numerous controllers inside a plant or production unit that are associated with a central console, which aids centralize plant operations and allow for the control and monitoring of every component's procedure in one place. It also helps achieve intricate production procedures.
It is because of the rapid economic development, the demand for distributed control systems will continue to increase in the years to come.
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