Supervisory Control and Data Acquisition (SCADA) Market Worth $57.2 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

According to a new market research report titled "SCADA Market Component (Hardware, Software, Services), Deployment Mode (On-premise, Cloud-based, Hybrid), End User (Oil & Gas, Automotive, Food & Beverage, Power, Semiconductors & Electronics, Other End Users), and Geography- Global Forecast to 2028," published by Meticulous Research®, the SCADA market is expected to grow at a CAGR of 14.7% from 2021 to 2028 to reach $57.2 billion by 2028.

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Supervisory control and data acquisition (SCADA) comprise hardware and software components used to monitor and control industrial processes. With a SCADA system, manufacturers and organizations can collect and analyze real-time production data, monitor and manage alarms, and program automatic control responses triggered by operations or system parameters.

The growth of this market is driven by the rising adoption of automated technologies across Europe and Asia-Pacific, increasing adoption of Industry 4.0, growing demand for smart and digitized production processes, and government support & initiatives for industrial automation. Moreover, the increasing trend of wireless sensors networks and rise in smart factories provide significant opportunities for market growth. However, the high initial investment obstructs the growth of this market to some extent. The risk of cyber-attacks is a major challenge for the growth of the market.

The Impact of COVID-19 on the Global Supervisory Control and Data Acquisition (SCADA) Market

The application sectors in the SCADA market have experienced low-to-high impacts of the pandemic and are expected to recover in the coming years. However, with the reopening of production facilities and industrial operations, the market started to recover in 2021 with the demand to automate these facilities. This is due to the need for minimum human contact with the newly manufactured products to prevent the further spread of the virus and control the operations through automated control solutions. Also, the shutdown of manufacturing plants and operational processes in the oil & gas, chemicals & materials, paper & pulp industries resulted in the limited demand for SCADA systems in 2020. Hence, the SCADA solution and service providers witnessed a decline in revenues in 2020 due to the huge spread of COVID-19 and limited operations of industries in the first two quarters.

Data acquisition strategies are evolving in the era of COVID-19, driven by increased requirements for remote data visualization and real-time, data-driven decisions. Human-machine interface (HMI) and SCADA systems are becoming even more important to achieve digital transformation because they can perform analytics on edge devices, providing the agility and resilience fundamental to success.

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Rising adoption of automated technologies across Europe and Asia-Pacific to drive the demand for SCADA solutions

Due to increased competition and evolving customer requirements, the manufacturing industry in Europe is forced to adopt new technologies and digital transformation solutions. The industries adopting automation in Europe include oil & gas, chemicals & petrochemicals, power and utilities, food and beverages, and automotive. The automotive industry is driving the growth of automation in Europe. To minimize the workforce in the country, companies are investing in cost-efficient automation solutions. This increases the demand for automated machines and systems, such as PLC, SCADA, ERP, and others. Companies are investing in SCADA software which is part of the automation system. In February 2020, Schneider Electric SE (France) launched the latest version of EcoStruxure Power SCADA Operation 2020 software. This software is designed to provide real-time vision, providing cybersecurity and graphics customization.

Asia-Pacific is a diverse region with localized characteristics such as technologically advanced and high-cost manufacturing countries. The region has quality connectivity, IT and security infrastructure maturity, and a trained workforce with Industry 4.0 expertise. There is a rapid development of automation and AI in Asia-Pacific. Automation is driven by the population growth rate and urbanization, economic development, increasing wages, and declining costs associated with automation. In Asia-Pacific, companies are taking initiatives like acquisitions and partnerships to advance the market of the SCADA system. For instance, in July 2020, Hitachi, Ltd. acquired ABB Power Grid to become the largest global grid equipment and service provider.

The Chinese government has taken the initiative "Made in China 2025" to upgrade the Chinese industry. With this initiative, China is planning to expand high-tech sectors and developing its advanced manufacturing base. The program uses government subsidies, mobilized state-owned enterprises, and pursued intellectual property acquisition to catch up with western technological prowess in advanced industries. "Made in China 2025" is the Chinese government's ten-year plan to upgrade the Chinese manufacturing base by developing ten high-tech industries. Such advancements in Europe and Asia-Pacific are boosting the growth of Industry automation.

To provide efficient analysis, Meticulous Research® has segmented this market based on Component (Hardware [Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), Communication Systems, Human-Machine Interface (HMI), Other Hardware Components], Software, Services [Professional Services, Managed Services]), Deployment Mode (On-premise, Cloud-based, Hybrid), End User (Oil & Gas, Chemicals & Materials, Paper & Pulp, Pharmaceuticals & Biotech, Mining & Metals, Food & Beverage, Power, Consumer Goods, Automotive, Machines & Tools, Semiconductors & Electronics, Aerospace & Defense, Other End Users) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa)

Based on component, the SCADA market is segmented into hardware, software, and services. Hardware comprises of human-machine interface (HMI), remote terminal unit (RTU), programmable logic controller (PLC), communication systems, and other hardware components, and services compromise of professional services and managed services. In 2021, the hardware segment is estimated to account for the largest share of the SCADA market. High demand for HMI, PLC, and RTUs in industrial control & automation solutions for providing efficient results and control over the manufacturing processes is driving the demand for SCADA hardware. Industry players are developing HMI and advanced PLCs in the modern SCADA systems that can work with cloud-based SCADA solutions. However, the software segment is projected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly attributed to the newly developed SCADA software designed by considering web-based deployment, unlimited licensing, security & stability, real-time control and monitoring, and easy expandability.

Based on deployment mode, the SCADA market is segmented into on-premises, hybrid, and cloud-based deployment. The cloud-based segment is projected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly attributed to the factors such as less worry about hardware, software, infrastructure, and maintenance cost. Also, cloud-based deployment makes the storage flexible. Thus, cloud-based deployment will help this segment to grow during the forecast period.

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Based on end user, the SCADA market is mainly segmented into oil & gas, automotive, food & beverage, semiconductors & electronics, chemicals & materials, consumer goods, mining & metals, pharmaceuticals & biotech, power, machines & tools, paper & pulp, aerospace & defense, and other end users. The automotive segment is expected to grow at a higher CAGR during the forecast period. This growth of the automotive segment is attributed to the increasing demand for monitoring and controlling operations in advanced factories.

Geographically, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is estimated to account for the largest share of the SCADA market in 2021. The growth of this segment is attributed to manufacturing facility transformation initiatives and the need for SCADA software to monitor and communicate the RTUs, PLCs, and HMI components. Also, the rising focus on enhancing process efficiencies and reducing cost in the production process is driving the market growth as the operators can analyze and make decisions from remote locations.

Major companies in the global SCADA market have implemented various strategies to expand their offerings, global footprint and augment their market shares. The key strategies followed by most companies in this market include agreements, collaborations, and partnerships; new product launches & enhancements; expansions; and mergers & acquisitions. The market players are gaining several contracts from the application industry players to implement advanced automation and SCADA technologies to achieve operational efficiency. These companies are also making huge R&D investments in developing highly innovative automation solutions specific to the application industries.

The top five players that dominated the global SCADA market were ABB Group, Emerson Electric Co., Siemens AG, Mitsubishi Electric Corporation, and Schneider Electric SE.

The other players operating in the SCADA market are Rockwell Automation, Inc. (U.S.), Eaton Corporation plc (Ireland), ABB Ltd (Switzerland), Yokogawa Electric Corporation (Japan), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Pilz GmbH & Co. KG (Germany), Survalent Technology Corporation (Canada), Valmet Corporation (Finland), and Hitachi, Ltd. (Japan) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/scada-market-5186

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