Supervisory Control and Data Acquisition Market Rising Business Opportunities with Prominent Investment Ratio by 2026

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.

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Market Dynamics

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.

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.

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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.

Detailed Segmentation:

Global Supervisory Control and Data Acquisition Market, By Application:
Oil & Gas
Automotive & Transportation
Electric Power
Chemicals
Food & Beverages
Manufacturing
Water & Wastewater
Others

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This release was published on openPR.