SCADA Market to Grow at 5.4% CAGR by 2030
Increased demand of industrial mobility and the adoption industry 4.0 in countries around the world are key drivers of the SCADA market.
SCADA stands for Supervisory Control and Data Acquisition. It is a collection of software and hardware systems that enable the organizations to monitor, gather and process real time data and control industrial process remotely or locally. The major factors driving the growth of SCADA market are the benefits offered by it such as high reliability, improved workplace safety, greater customer satisfaction and improved utilization of resources. However, requirement of high investment for setting up the SCADA system is expected to impede the market growth to some extent during the forecast period. Also, SCADA systems are relatively less reliable than PLCs and DCCs. which hinders the development of the market globally.
Based on offering, the market is fragmented into hardware, software, and services. On the basis of application, the market is divided into Electrical Power, Oil & Gas, Water & Wastewater, Manufacturing, Transportation, Telecommunication, Chemicals, Food & Beverages, Pharmaceuticals, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographically, North America dominates the global SCADA market due to increased adoption of advanced technologies along with government’s willingness to invest a wholesome for the technological innovations and better awareness about the pros and cons of SCADA system among the organizations in this region.
However, Asia Pacific is expected to show a steady rise in the SCADA market due to the increased inclination towards cloud-based systems, and implementation of automation as a result of the growing demand for high-quality products, along with the increased production yield.
Browse Key Industry Insights from the report, “Supervisory Control and Data Acquisition (SCADA) Market by Offering (Hardware, Software, and Services) and Application (Electrical Power, Oil & Gas, Water & Wastewater, Manufacturing, Transportation, Telecommunication, Chemicals, Food & Beverages, Pharmaceuticals, and Others) - Global Opportunity Analysis and Industry Forecast, 2020-2030.”
- The report presents information related to key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the global SCADA industry.
According to the report, the global SCADA market is dominated by the key players namely Hitachi LTD., IBM Corp, ABB LTD., Honeywell International, JFE Engineering Corporation, Alstom, Rockwell Automation, Emerson Electric Co., Mitsubishi Electric Corporation and Schneider Electric among others.
The report SCADA market- segmented by offerings, applications and geography.
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