At 2.9% CAGR, South & Central America Distributed Control Systems Market is Projected to be Worth US$ 525.23 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America distributed control systems market was valued at US$ 418.69 million in 2022 and is expected to reach US$ 525.23 million by 2030, registering a CAGR of 2.9% from 2022 to 2030. Integration of new technologies and architectural development in DCS are among the critical factors attributed to the South & Central America distributed control systems market expansion.

The industrial sector is increasingly adopting Industry 4.0, artificial intelligence (AI), IoT, cloud computing, edge computing, virtualization, decentralization, 5G, IIoT, augmented reality (AR), human-machine interaction (HMI), and other such technologies. The players are significantly investing in the development of industrial robots integrated with artificial intelligence. For instance, in December 2023, TeamViewer, a leading global provider of remote connectivity and workplace digitalization solutions, announced strategic investments in two pioneering companies for smart factory solutions: Sight Machine and Cybus. The company is strengthening its commitment to the digital transformation of industrial working environments and the convergence of Information and Operation Technology (IT & OT).

The landscape of industrial automation is experiencing a transformational evolution. Advancements in technologies such as artificial intelligence (AI), collaborative robots, and IoT integration are a some of the factors driving this evolution. Those businesses that successfully use emerging technologies and automation will have an advantage as labor challenges, tighter budgets, and higher demand, continue to plague businesses. Moreover, developing technologies such as digital twins, generative AI, and 4D vision are creating greater efficiencies in all areas of manufacturing. Businesses of all sizes will continue to invest in these technologies as they become more available. Artificial intelligence provides a comprehensive understanding of ongoing activities and can forecast equipment breakdowns in manufacturing through data. The synergistic utilization of generative artificial intelligence (AI) and automation holds transformative capabilities for businesses. AI will persist as a valuable resource for product development, while automation will serve as the catalyst to bring these products to life. Furthermore, the integration of digital twins and machine learning, to analyze the vast amount of data generated by automation systems is becoming gradually important. These software solutions will enable leaders to make better decisions based real-time analysis, improve predictive maintenance, and optimize processes throughout their operations. Thus, the advancements of new technologies such as Industry 4.0, artificial intelligence (AI), IoT, cloud computing, edge computing, virtualization, decentralization, 5G, and IIoT in various industries is anticipated to be a major trend in the distribution control system market.

On the contrary, vulnerability to cyberattacks hampers the growth of South & Central America distributed control systems market.

Based on component, the South & Central America distributed control systems market is segmented into hardware, software, and services. The hardware segment held 43.4% share of the South & Central America distributed control systems market in 2022, amassing US$ 181.58 million. It is projected to garner US$ 216.18 million by 2030 to expand at 2.2% CAGR during 2022–2030.

In terms of industry, the South & Central America distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and others. The oil and gas segment held 29.7% share of the South & Central America distributed control systems market in 2022, amassing US$ 124.17 million. It is estimated to garner US$ 137.73 million by 2030 to expand at 1.3% CAGR during 2022–2030.

Based on country, the South & Central America distributed control systems market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 71.9% share of South & Central America distributed control systems market in 2022, amassing US$ 300.87 million. It is projected to garner US$ 384.58 million by 2030 to expand at 3.1% CAGR during 2022–2030.

Key players operating in the South & Central America distributed control systems market are Honeywell International Inc, General Electric Co, ABB Ltd, Yokogawa Electric Corp, Toshiba Corp, Siemens AG, Emerson Electric Co, NovaTech LLC, Schneider Electric SE, and Rockwell Automation Inc, among others.

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