- The global SCADA market share is estimated to reach a valuation of US$ 72.5 Bn by 2031
- Surge in the utilization of SCADA systems for automation of electrical distribution is bolstering the market
- The presence of many key players makes Asia Pacific fastest growing region in the SCADA market
ALBANY, N.Y., June 17, 2022 /PRNewswire/ -- A study by Transparency Market Research (TMR) projects the global SCADA market to expand at a CAGR of 7.5% during the forecast period, 2022-2031. Moreover, the market is expected to be valued at US$ 72.5 Bn by 2031.
SCADA systems are widely adopted across a wide range of industries in order to automate processes in which human control is unfeasible. Moreover, the demand for SCADA systems is being increasing owing to their ability to help in costs saving and providing real-time data in order to monitor equipment in addition to providing multifaceted remote industrial controls. This factor, in turn, is boosting the SCADA market growth, notes a study by TMR.
The SCADA systems are being incorporated across varied industries as they assist users to be alert about possible network issues and to play key role in decision-making in order to respond accordingly each time. This factor is prognosticated to help in driving the SCADA market revenue during the forecast period.
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SCADA Market: Key Findings
- A SCADA-based industrial control system refers to a next-gen technological advancement in the current industrial automation procedures. SCADA systems are gaining traction across the globe owing to their ability to let users envision plant production activities. This, in turn, assists companies in improved decision-making on the basis of dependable data. SCADA systems are being increasingly adopted in Industry 4.0 in order to monitor and manage different plant industrial procedures.
- The demand for SCADA systems is increasing in the recent years owing to their advantages such as an ability to allow operators visualize, monitor, control, and study varied industrial processes in real-time. These tools help in tracking system data, and can be utilized to generate graphs and reports that let industrial process operators see all activities in real time. Moreover, SCADA systems can connect directly with controllers in field in real time with the help of PLC and RPU. Due to these advantages, the adoption of these systems in being increasing around the world, which in turn, is helping in the expansion of the SCADA market share globally.
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SCADA Market: Growth Boosters
- Rise in the use of Industry 4.0 across process and manufacturing industries globally is one of the key factors driving the SCADA market growth
- Increasing use of SCADA systems in order to automate electrical distribution is fueling the sales growth in the market
SCADA Market: Regional Analysis
- The SCADA market is expected to gain lucrative avenues in North America during the forecast period owing to factors such as rising spending of many regional governments on smart city projects
- The Asia Pacific SCADA market is prognosticated to expand at promising pace in the forthcoming years owing to presence of many key players in the region. Moreover, the market is anticipated to observe sizable business opportunities in Asia Pacific due to rising automation as the demand for high-quality products is increasing in the region.
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SCADA Market: Competition Landscape
- Leading players are executing merger and acquisition activities in order to stay ahead of the competition
- SCADA manufacturers across the globe are focusing on the development of next-gen products in order to attract new customer base
SCADA Market: Key Players
Some of the key players profiled in the report are:
- Eaton Corporation plc
- ABB Ltd.
- General Electric Company
- Emerson Electric Co.,
- Honeywell International, Inc.
- Hitachi Ltd.
- OMRON Corporation
- Mitsubishi Electric Corporation
- Rockwell Automation, Inc.
- Pilz GmbH & Co. KG
- Siemens AG,
- Schneider Electric SE
- Valmet
- Survalent Technology Corporation
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SCADA Market Segmentation
Component
- Hardware
- Software
- Services
Deployment
- On-premise
- Cloud
End-user
- Oil & Gas
- Chemicals & Materials
- Pharmaceuticals & Biotech
- Water & Wastewater
- Food & Beverage
- Semiconductors & Electronics
- Manufacturing
- Automotive
- Machines & Tools
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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