Table of Contents
Driven by lower crude oil price, slowdown in Chinese economy, and continued Eurozone crisis, the DCS market slowed down by % in 2014 and is expected to further slow down in 2015. However, the market is expected to register steady growth from 2016 onwards because of the anticipated recovery of the global economic conditions.
Region-wise, Latin America (LATAM) and Asia-Pacific (APAC) offer maximum growth opportunity, with a CAGR of % and %, respectively. However, slowdown in Chinese economy is expected to negatively impact the DCS market in the short term.
Revenue-wise, service segment drives the market growth and is expected to register a CAGR of % during 2014–2021. Increasing adoption of main automation contractor (MAC) approach for project services makes the service segment most attractive.
Growing energy demand from developing regions is the biggest growth driver for DCS market. However, APAC and LATAM markets are expected to bear the negative impact of slowdown, especially in key markets including China, Brazil, and Mexico. Europe, Middle East, and Africa (EMEA) markets are still recovering from Eurozone crisis.
DCS architecture is evolving because of the emerging technology trends including Internet of Things (IoT), cloud computing, industrial wireless, virtualization, mobility, Big Data, and Analytics.
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