Global Supervisory Control and Data Acquisition Market - Insights
Supervisory control and data acquisition (SCADA) is system of hardware and software that permits organization to monitor, command, control, gather, and process real-time data, remotely. Furthermore, supervisory control and data acquisition enables end user to directly interact with devices such as pumps, sensors, motors, and valves through human machine interface software and record events into a log file.
Global supervisory control and data acquisition market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to continuous maintenance of machinery in various industry verticals such as automotive, oil & gas, energy power, and others, in order to ensure the safety of equipment, environment, and employee. Furthermore, rising demand for data sharing and real-time data monitoring from remote location is fueling demand for SCADA, which in turn reduces the operational cost and enhances the quality of work.
Figure 1. Global Supervisory Control and Data Acquisition Market, Key Impact Forces
Source: Coherent Market Insights, 2016-17
Real-time detection and minimization of flaws in machinery due to use of SCADA is expected to aid in growth of the market
Supervisory control and data acquisition is gaining popularity, owing to its feature that helps to detect fault in machinery promptly and minimize the defects. Moreover, it also helps in distribution of power by re-routing the power from excess capacity areas to regions where there is power shortage or need. Also the cost effectiveness of these system is fueling demand for SCADA among users. Furthermore, supervisory control and data acquisition enables real-time data monitoring from remote location thereby, reducing manpower and human errors.
Figure 2. Global Supervisory Control and Data Acquisition Market, By Offerings (2017, %)
Source: Coherent Market Insights, 2016-17
Increasing adoption of cloud-based supervisory control and data acquisition system is expected to aid in growth of the market
Supervisory control and data acquisition (SCADA) is installed in order to monitor and control transmitters and sensors that have been set up in industrial facility. An operator controls the machinery with the help of human machine interface. The integration of supervisory control and data acquisition system with cloud computing technology enables operators to control application via internet remotely. Furthermore, numerous benefits offered by cloud –based SCADA systems such as ease to retrieve file & uploading, upgrading through cloud, scalability, and others is fueling adoption of cloud-based supervisory control and data acquisition system.
Infrastructural Development in terms of smart cities and transportation is driving the market growth
Urban infrastructure includes water supply, traffic control, electricity grid, and others that relies on supervisory control and data acquisition systems where it controls function and flows. Increasing infrastructural development such as smart cities, smart transportation in emerging economies such as China, India, and Brazil is expected to create a conducive environment for growth of supervisory control and data acquisition systems market. For instance, In 2016,government of India initiated 100 Smart Cities Mission, through which it is expected to invest over US$ 15 billion in order to build efficient and effective city management solution and infrastructure by 2020. Hence, increasing infrastructural development is majorly fueling growth of supervisory control and data acquisition market.
Increasing use of Big Data Analytics across various industry verticals is driving the market growth
Significant growth in big data along with analytics has improved the efficiency of supervisory control and data acquisition systems. Analytical software solutions help companies to improve decision-making, identify the root cause of problems thereby, reducing errors. Thus, organizations in various verticals are focusing on adoption of these tools globally. .
Some of the key players operating in the supervisory control and data acquisition market include Alstom, IBM Corporation, Honeywell International, Hitachi, Ltd., Emerson Electric Co., ABB Ltd., Rockwell Automation, JFE Engineering Corporation, Schneider Electric, and Mitsubishi Electric Corporation.
SCADA has witnessed significant adoption during the forecast period, owing to increasing demand for SCADA in process automation, which aids in reducing operational cost. Furthermore, benefits offered by SCADA such as reduction in output defects, decline in production cost, and real-time detection of faults in machinery among others are fueling growth of SCADA market over the forecast period.
The global supervisory control and data acquisition (SCADA) market growth is attributed to rising adoption of cloud-based SCADA system, increasing infrastructural development in terms of smart cities & transportation, and high penetration of mobile SCADA systems. For instance, on January 2018, government of Canada unveiled 20 final cities for US$ 300 million smart city mission and is expected to invest US$ 0.25 million for each city in order to build efficient and effective city management solution and infrastructure. Thus, increasing infrastructure development is majorly fueling the market growth. In addition to this, growth of manufacturing hubs in countries such as China, India, Brazil, and others owing to their economic growth is fueling demand for automated system such as SCADA. For instance, according to statistics published by India Brand Equity Foundation (IBEF), Indian manufacturing industry’s gross value added (GVA) at basic price of US$ 347.18 billion in year 2017 up from US$ 323.27 billion in year 2016. Thus, increasing GVA of manufacturing industry is fueling the growth of SCADA market. Moreover, growing R&D wireless sensor network in SCADA and rising big data analytics is expected to increase efficiency of SCADA thereby, providing lucrative growth opportunity. However, high initial investment for setting up SCADA system and rising cyber threat is expected to hinder the market growth.
Key features of the study:
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