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SCADA Market Anticipated to Reach USD 14,145 million by 2027, growing at a CAGR of 7.1% till 2027 | Size, Share, Forecast Analysis

09-24-2022 07:05 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

SCADA Market

SCADA Market

SCADA Market

The SCADA Market is expected to reach USD 14,145 million by 2027, growing at a CAGR of 7.1% over the forecast period (2020-2027).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/scada-market/

The factors driving the growth of SCADA Market includes rising application of supervisory control and data acquisition (SCADA) systems for monitoring production flow and collecting and processing real time data, growing deployment of SCADA systems in smart cities and increase in the number of smart buildings around the world. According to the report published by Bloomberg, the Global Smart Building Market is estimated to reach USD 570.02 billion by the end of 2030, expanding at a CAGR of 25.3% over the forecast period (2022-2030), which will accelerate the SCADA Market share in the approaching years. Moreover, rising application of software platforms such as Artificial Intelligence (AI), Internet of Things (IoT) and Big Data Analytics, technological advancements in supervisory control and data acquisition systems and increasing installation of automated and connected process & control systems, are some of the additional factors supplementing the SCADA Market size. In addition, the increasing investments by leading players on research and development, rapid urbanization, rising disposable incomes and growing population growth rates, are further propelling the SCADA Market Growth.

However, growth of the SCADA Market is hindered attributed to high investments required for installing SCADA systems.

The prominent players operating in the market are Yokogawa Electric Corporation, Schneider Electric SE, General Electric, ABB Group, Siemens AG, Rockwell Automation, Inc., Omron Corporation, Honeywell International Inc., Mitsubishi Electric Corporation, Emerson Electric Co., Willowglen Systems Inc., and Progea, among others.

Based on Component, the Remote Terminal Unit (RTU) segment is predicted to grow at a significant CAGR during the forecast period

Increasing application of remote terminal units at freshwater reservoirs and onshore oil & gas and growing demand for cost-effective monitoring solutions, are some of the factors responsible for the segment's growth.

Based on Industry, the Water & Wastewater segment is projected to expand at a robust CAGR over the forecast period

As per the SCADA Market Analysis, supervisory control and data acquisition systems monitors and control of the water flow and reservoir levels and reduces the operating costs in the wastewater industry, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

According to the SCADA Market Report, presence of the leading players such as Omron Corporation, Mitsubishi Electric Corporation and Yokogawa Electric, rise in the number of smart cities, technological advancements in SCADA systems, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Developments

In Jun 2019, ABB introduced MicroSCADA X and SDA500 at the International Conference and Exhibition on Electricity Distribution (CRIED) in Spain. MicroSCADA X is a power and automation control solution, with a next-generation human-machine interface (HMI) and SDA500 and a remote terminal unit (RTU)-based smart control cabinet.
In May 2018, Schneider Electric partnered with Temasek to buy Larsen & Toubro's Electrical & Automation business unit for USD 2.8 billion and combine it with its Low Voltage & Industrial Automation Products business in India.
In Jul 2017, ABB completed the acquisition of Bernecker+Rainer Industrie-Elektronik GmbH (B&R), an innovative leader in PLCs, industrial PCs, and servo motion-based machine and factory automation, a product- and software-based, open-architecture solutions for machine and factory automation provider. This acquisition will strengthen ABB's position in the industrial automation industry.

Market Segmentation

Segmentation by Component

Human-Machine Interface (HMI)
Remote Terminal Unit (RTU)
Programmable Logic Controller (PLC)
Communication System
Wired Communication System
Wireless Communication System
Others

Segmentation by Architecture

Hardware
Software
Services

Segmentation by Industry

Oil & Gas
Power
Water & Wastewater
Transportation
Traffic Signals
Mass Transit Systems and Railway Traction Systems
Telecommunications
Pharmaceuticals
Chemicals
Manufacturing
Food & Beverages
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
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Website: https://www.gmiresearch.com/

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GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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