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Supervisory Control and Data Acquisition (SCADA) Market Is Anticipated To Dominate In Coming Years | ABB Ltd., Hitachi Ltd, Emerson Electric Co., Alstom, International Business Machines,, Honeywell, Schneider Electric, Rockwell,JFE, Iconics, Mitsubishi El

05-22-2019 11:00 AM CET | IT, New Media & Software

Press release from: Coherent Market Insights (CMI)

Supervisory Control and Data Acquisition

Supervisory Control and Data Acquisition

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%. 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.

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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.

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.

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.

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.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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