New ARC Advisory Group research on the global Distributed Control Systems (DCS) market reveals that the COVID-19 pandemic is leading to a steep decline in DCS revenues across most major world regions. ARC expects to see a gradual market recovery in 2021, with a return to stable growth rates unlikely before 2022 or 2023. Significantly, with most major regions now in recession, ARC does not expect the DCS market to return to its 2019 level until 2025. Market performance will ultimately depend on how quickly capital investment, government spending, and consumer spending return to more normal rates.
“DCS growth depends heavily on demand from the heavy process industries, which in turn depend heavily on consumer demand. The COVID-19 pandemic has significantly reduced demand for many products, especially transportation fuels and chemicals. Depressed commodity prices (especially for crude oil, refined products, and petrochemicals) inhibit further investment in these areas,” according to Harry Forbes, Research Director at ARC Advisory Group and key author of ARC’s Distributed Control Systems Global Market Research report.
Leading Suppliers to the DCS Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this global market and provides and summarizes their relevant offering. In alphabetical order, these include ABB, Emerson, Honeywell, Siemens, and Yokogawa.