Report : Middle East and Africa Distributed Control Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware, Software, and Services) and Industry Vertical (Power Generation, Oil and Gas, Pharmaceutical, Food and Beverages, Chemicals, and Other Industries)
Pharmaceutical Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to a new market research study on “MEA Distributed Control Systems Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component and Industry Vertical” is expected to reach US$ 1,277.88 million by 2028 from US$ 950.04 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the MEA distributed control systems market along with the drivers and restraints pertaining to the market growth.Emergence of smart cities and development of infrastructure and merging industrial IoT (IIoT) and artificial intelligence are the major factor driving the growth of the MEA distributed control systems market. However, significant capital requirement hinders the growth of MEA distributed control systems market.
In case of COVID-19, MEA is highly affected especially South Africa followed by the UAE, Egypt, Morocco, and Kuwait. The lockdown hindered the operations of various industries, including manufacturing and IT. However, essential industries such as fast-moving consumer goods (FMCG) and pharmaceutical had to continue their operations. Various big construction projects, including airport modification and expansion, were also halted due to the pandemic, specifically in countries such as the UAE and Saudi Arabia. In order to deal with the pandemic, countries have been compelled to redirect funds to improve their healthcare infrastructure. As a result, the demand for distributed controlled systems in the various industry is dwindling. As a result, the COVID-19 pandemic is limiting the demand development of distributed control systems in the MEA.
The MEA distributed control systems market has been segmented into the component, industry vertical, and country. Based on component, the market has been segmented into hardware, software, and services. The software segment dominated the MEA distributed control systems market in 2020 and services segment is expected to be fastest growing during forecast period. Based on industry vertical, the market has been segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries. The oil and gas segment dominated the MEA distributed control systems market in 2020 and pharmaceutical segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
ABB Ltd.; Emerson Electric Co.; General Electric Company; Honeywell International Inc.; Rockwell Automation, Inc.; Schneider Electric SE; Siemens AG; Toshiba Corporation; and Yokogawa Electric Corporation are among the leading companies in the MEA distributed control systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Emrgy Inc., the tech innovator whose modular turbines harness the power of water as a clean, distributed energy resource, signed an agreement with GE Renewable Energy about Emrgy's Micro Hydrokinetic technology. Through this partnership, Emrgy's hydropower turbines will be provided by GE Renewable Energy.
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