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SCADA Market Overview On Demanding Application 2032

02-24-2023 02:51 PM CET | IT, New Media & Software

Press release from: REPORTS PUBLISHER

The global SCADA market size is foreseen to grow from USD 9.8 billion in 2022 to USD 14.2 billion by 2027, at a CAGR of 7.8% from 2022 to 2027.

Substantial demand for industrial mobility solutions to efficiently manage process industries and growing smart city projects for development of infrastructure and transportation sector are some of the major factors driving the growth of SCADA market.

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Artificial intelligence (AI) and IoT has transformed the operations of various industries, including manufacturing. The application of IoT across manufacturing industries can be termed as Industrial IoT (IIoT).

Opportunity: Rising developments in wireless sensor networks and their growing adoption in process industries
Wireless sensor network (WSN) is used in various industries, such as oil & gas, pharmaceuticals, and water & wastewater treatment. Oil & gas plants are generally located in remote areas with rough environmental conditions. In an oil & gas plant, tanks, compressors, generators, and separators are monitored, managed, and controlled by a SCADA system with the help of sensors deployed in a WSN.

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Cyberattacks are among the primary issues to be addressed while developing a sensor-based network to monitor and control critical infrastructures. As SCADA systems comprise a network of sensors, mainframe computers, communication systems, and storage systems, they are vulnerable to cyberattacks. SCADA systems manage the operational aspects of critical infrastructure by using logical processes and physical operations. Failure of these systems can affect an organization, a community, and subsequently an economy. Disasters such as leakage and spills from oil or sewage pipelines and electricity grid failures can have a long-term negative effect on plant operations.

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Key Market Players
The SCADA market's players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships, and acquisitions to strengthen their offerings in the market. The major players in the market are Rockwell Automation (US), Schneider Electric (France), Emerson Electric (US), Siemens (Germany), and ABB (Switzerland).

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