Supervisory Control and Data Acquisition (SCADA) Market to Surpass US$ 47.14 billion by 2026

Published On : Feb 06, 2019

The global SCADA market was valued at US$ 29.24 billion in 2017 and is expected to increase to US$ 47.14 billion by 2026, registering a CAGR of 5.5% over the forecast period from 2018 to 2026, according to SCADA Market Report, by Offering Type (Hardware, Software, and Services), by Component  Type (Human-Machine Interface, Communication System, Remote Terminal Units, and Others), by Applications (Oil & Gas, Automotive & Transport, Electric Power, Food & Beverages, Manufacturing, Pharmaceuticals, and Water & Waste Water Management), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights.

Significant growth in sectors such as oil and gas, automotive and transport, electric power, food and beverages, and water and waste water is expected to contribute to growth of the global SCADA market. These solutions enable enterprises to automate their business operations, offer remote and better control over processes, and help in data acquisition and monitoring, which aids to enhance overall business performance. Moreover, these technologies help industries to enhance human-machine interface (HMI). HMI is a part of SCADA, which communicates with programmable logic controllers (PLC) or I/O sensors to generate and display data on the screen.

Furthermore, SCADA consists of a component called communication system, which is utilized for transferring data to different units. Communication system also aids in establishing remote control over the processes. Therefore, enterprises are focusing on implementing SCADA to track and gather data and efficiently manage operational issues. Therefore, all these factors are expected to propel growth of the SCADA market over the forecast period.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/supervisory-control-and-data-acquisition-market-2158

Browse 150 market data tables* and 90 figures* on “Supervisory Control and Data Acquisition (SCADA)” - Global forecast to 2026.

Key Trends and Analysis of the Global SCADA Software Market:

  • North America held dominant position in the global SCADA market in 2017, and is expected to retain its dominance throughout the forecast period. Rapid digital transformation and increasing use of connected devices are some of the major factors that drive growth of the SCADA market in North America. Moreover, presence of major software providers such as Honeywell International Inc., Emerson Electric Co., Rockwell Automation, Inc., and General Electric is also expected to propel demand for SCADA in the region.
  • Asia Pacific is expected to be the fastest growing market throughout the forecast period. This is owing to growing oil and gas industries, waste water management plants, manufacturing industries and others sectors in emerging economies such as India, Japan, and China. Public spending on research and development (R&D) activities in the energy sector is also witnessing high growth in the region. According to data published by International Energy Agency (IEA) in 2018, public spending on energy R&D in Asia Pacific was around US$ 6.4 billion in 2017, which increased around 18.5% as compared to previous year 2016.
  • Moreover, hardwired part of SCADA systems are being replaced by wireless communication systems in several organizations, which aids in cost reduction. Rapid shift of organizations towards advance technologies, growing smart grid industry, and increasing investment by key stakeholders in the energy sector is also expected to propel growth of the SCADA market in Asia Pacific. US$ 101 billion investment is expected over the forecast period for smart grid technology development in China and 360 million smart meters are expected to be deployed by 2030 (JRC Smart Electricity Systems and Interoperability, 2017).
  • Among component type, the human-machine interface (HMI) segment held dominant position in the market in 2017, and is expected to retain its dominance during the forecast period. The growth of Industry 4.0 has resulted in rapid demand for HMI to modify an industrial process by digitizing and centralizing the data. The integration of HMI in the process helps the operator to see important information displayed with the graph, charts or digital dashboard and manage the process. Moreover, the connection of PLC with HMI to communicate real time data on display helps to reduce various operational costs and human errors.
  • Major players operating in the global SCADA market include, ABB Ltd., Hitachi Ltd, Emerson Electric Co., Alstom, International Business Machines Corporation, Honeywell International Inc., Schneider Electric, Rockwell Automation, Inc., JFE Engineering Corporation, Iconics, Inc., Mitsubishi Electric Corporation, and others.

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