SCADA Market 2020 Growth, Trends, Opportunities and Forecast To 2023
Posted by Akash Sangshetti on January 4th, 2021
SCADA is an automation system that helps to acquire data from remote devices by using transmitters, pumps which is installed in the field. It provides remote control and also helps to operate the devices. Exploration of new oil and gas fields and low operational cost are the key factors that have led to a spur in the market of SCADA system. Moreover, Factors such as graphic display, trending, alarm, and data storing features are driving the market. Huge potential from renewable energy sector, high investments in infrastructure are some of the factors which are booming the SCADA Market. Additionally demand for reliable power distribution and transmission among different industries, rising demand for SCADA systems in oil & gas industry in emerging markets for efficient oil extraction are likely to accelerate the growth of supervisory control and data acquisition market during the forecast period. As per the study conducted by Market Research Future, the global market for SCADA systems is likely to grow at the CAGR of around 6.5%.
SCADA (Supervisory Control and Data Acquisition) is an automated tool which can administer, analyze, assemble data and generate reports. The global SCADA market is estimated to witness significant growth during the forecast period, owing to growing demand for safety, minimize distribution & transmission loss, and also due to deployment of SCADA data into cloud and incorporation with corporate IT. The increase in end-user industry applications is also expected to boost the growth; however, factors such as increasing cyber-attacks, administration issue with the data generated are likely to hamper the market growth.
Lack of awareness of the IT trends is a chief limitation for deploying the SCADA system. However, recent product advances can embed easily with the smart-phone and deliver ease of access to all employees working, numerous players are stepping in the SCADA market with the advanced and innovative products variants. It is predicted by the major players in the industry that no such substitute of this technology is expected to come in the market in coming decade. The opportunities in the SCADA market will be due to automation and Internet of Things (IoT) technologies for retail sector.
Schneider Electric SE, Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation, Siemens AG, Checkpoint Software Technologies Ltd., Radiflow, General Electric, Yokogawa Electric Corporation, Emerson Electric Corporation, and Honeywell Automation are eminent names profiled in in the SCADA market report.
The report offers comprehensive profiles on these market players and assesses their current standing in the SCADA market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.
SCADA Market - Segmentation
By component, the SCADA market comprises hardware, software, and solutions and services. Two major methods of deploying SCADA systems outlined the report include on-premise and on-cloud. The report provides an extensive outlook on end-users leveraging on these systems to accelerate their processes. These include pharmaceutical, chemical, energy and power, food and beverages, water and waste management, oil & gas, telecommunication, manufacturing, and others.
The segments and sub-segments covered in the report are analyzed under four major regions – North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW), with respective country-level market sizing. The standard definition of “SCADA” is included in the report for a comprehensive understanding of the market. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.
SCADA Market - Regional Analysis
Geographically, the global SCADA market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, North America is dominating the SCADA market due to the presence of global players. U.S holds largest share in the North American region. The major factors such as investments in oil & gas industry as well as high consumption in the power industry are driving the SCADA market in this region. Moreover, large financial and technological investments for reliable and improvised power management system are also driving the demand in the SCADA market. Asia Pacific is the second largest market mainly due to significant infrastructural activities in recent times. Additionally increasing demand in the power generation industry in these regions is expected to drives the market.
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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About the AuthorAkash Sangshetti
Joined: October 1st, 2019
Articles Posted: 322
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