SCADA Market Estimated to Reach USD 15 Billion by 2030 with a CAGR of 7%
Modern SCADA System Allows Real-Time Data to be Accessed Remotely will boost the SCADA market growth
/EIN News/ — New York, US, May 30, 2022 (GLOBE NEWSWIRE) — SCADA Market Overview
According to a comprehensive research report by Market Research Future (MRFR), ”SCADA Market Research Report — by Component, Deployment Type, End-Users – Forecast Till 2030” will have significant growth of 7% CAGR to reach up to USD 15 Billion during the forecast period 2030.
SCADA Market Report Scope:
The global SCADA market is witnessing significant revenue growth. Rising implementations and demand for SCADA systems, especially from pharmaceutical and food & beverage sectors, drive the market growth. Besides, the increasing adoption of SCADA technology in energy & power and the oil & gas industries worldwide creates substantial market demand.
|Market Size||USD 15 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Deployment Type, End-Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||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.|
|Key Market Drivers|| The increasing demand for industrial mobility solutions.
Graphic display, trending, alarm, and data storing features.
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Leading manufacturing companies are embracing Industry 4.0, resulting in boosting the demand for industrial mobility solutions and substantiating the growth of the SCADA market. The supervisory control and data acquisition (SCADA) system allow industrial organizations to process real-time data and control industrial processes locally or remotely.
SCADA systems are imperative for industrial organizations to maintain efficiency, process data for smarter decisions, and communicate system issues to help mitigate downtime. SCADA records events into a log file by directly interacting with devices such as sensors, pumps, motors, and many more through human-machine interface (HMI) software.
SCADA systems are witnessing increasing adoption in major industries, such as energy, oil & gas, recycling, transportation, water & wastewater, food & beverage, and manufacturing. Also, SCADA adoption among industrial organizations and private companies is growing to control & maintain the efficiency of communication systems across facilities and, make data-driven smarter decisions, and help mitigate downtime issues.
Over recent years, SCADA systems have emerged as crucial solutions for simple configurations and large, complex installations for many different types of enterprises in many modern industries. Also, developments in the Industrial Internet of Things (IIoT) and burgeoning sectors worldwide boost market demand.
Additional factors bolstering market revenues include the growing demand for effective SCADA systems that can offer cost-effective solutions for ensuring production and safety at a refinery, maintaining the refrigeration systems at the local supermarket, achieving quality standards at a wastewater treatment plant, and tracking energy use at home/ commercial spaces.
The inclination toward renewable energy sources for utilities and advances in smart grids offers major growth opportunities. Furthermore, increasing investments by SCADA technology providers in improving the capabilities of programmable logic controllers (PLC) and smart manufacturing push the market growth.
With increasing water purification & wastewater management activities led by the rising water demand, the market demonstrates significant growth potential. The rapid increase in the telecommunication, manufacturing and chemical industries increases the market value.
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SCADA Market Segmentation
The market is segmented into components, deployments, end-users, and regions. The component segment is sub-segmented into hardware, software, and solutions & services. The deployment segment is sub-segmented into on-cloud and on-premise.
The end-user segment is sub-segmented into pharmaceutical, water & waste management, energy & power, food & beverage, oil & gas, telecommunication, manufacturing, chemical, and others. The region segment comprises the Middle East & Africa, Asia Pacific, Americas, Europe, and the Rest-of-the-World.
SCADA Market Geographical Analysis
North America leads the global SCADA market, mainly due to the strong presence of well-developed infrastructures and provider’s base, allowing the early adoption of advanced technologies. The region witnesses huge advances in cybersecurity solutions and related technologies.
Moreover, significant financial and technological investments in reliable and improvised power management systems drive the growth of the market. Investments in implementing SCADA systems in the oil & gas and power generation industry in the region influence market growth.
APAC is another lucrative market for SCADA solutions globally. The presence of notable players and early adoption of IoT & artificial intelligence (AI) technologies boosts the market size. Moreover, increasing demand in the power generation industries in this region drives market growth. Significant infrastructure development activities in recent times foster the region’s SCADA market shares.
Additionally, the rapidly growing IT & telecom sectors, especially in China, Japan, and India, influence the market value. Europe is emerging as a promising SCADA market globally, headed by the growing adoption of on-demand cloud services and economic growth in this region. Germany, the UK, France, and Italy, account for sizable shares in the regional market.
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SCADA Market Competitive Analysis
Highly competitive, the SCADA market appears fragmented due to the presence of several well-established players. Technology providers boost investments in product development and improve design concepts. These market players adopt strategies such as greater commercialization of their products, promotion initiatives through competitions & trade exhibitions, and increased collaboration.
Dominant Key Players in SCADA Market Covered are:
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Omron Corporation
- Rockwell Automation
- Siemens AG
- Checkpoint Software Technologies Ltd.
- General Electric
- Yokogawa Electric Corporation
- Emerson Electric Corporation
- Honeywell Automation
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These players incorporate strategies, such as mergers & acquisitions, collaborations, expansion, and product/ technology launch to gain a larger competitive share. For instance, on April 05, 2022, Inframark LLC announced the acquisition of BLTI, a provider of integration solutions, to enhance its SCADA footprint nationwide, as well as its local presence in Houston, Texas.
BLTI specializes in large-scale SCADA systems, control panels, fire alarms, and security systems. The acquisition would enable Inframark to grow and evolve significantly by supplying instrumentation and control systems for municipal, commercial, and institutional clients.
Inframark had been looking for a partner who could help expand its SCADA capabilities. This is Inframark’s fourth acquisition of a premier SCADA service provider and signifies its commitment to helping customers optimize and efficiently operate their water, wastewater, and infrastructure assets.
The project will leverage Inframark’s support for investment to further enable BLTI and the combined SCADA division to provide futuristic automation and cybersecurity solutions to fit into any water and wastewater facilities. This acquisition expands Inframark’s SCADA footprint in water and wastewater contract operations and municipal utility district O&M clients in Houston and across the country.
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