SCADA Market to Be Worth $9.4 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'SCADA Market by Type (Monolithic SCADA Systems, Distributed SCADA Systems, Networked SCADA Systems), Component (Hardware, Software, Services), Deployment Mode, and End-use Industry (Oil & Gas, Automotive, Food & Beverage) - Global Forecast to 2030.'

According to this latest publication from Meticulous Research®, the SCADA market is projected to reach $9.4 billion by 2030, at a CAGR of 9.6% during the forecast period. The growth of this market is driven by the rising adoption of automated technologies across Europe and Asia-Pacific, increasing adoption of Industry 5.0, growing demand for smart and digitized production processes, and government support & initiatives for industrial automation. Furthermore, the increasing trend of wireless sensor networks and the proliferation of smart factories are expected to create market growth opportunities during the forecast period.

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However, high initial investment restrains the growth of this market. Also, the high risk of cyber attacks is a major challenge for the players in this market. Furthermore, the high adoption of industry 4.0 technologies and the high performance of human-machine interface (HMI) are key trends in the SCADA market.

The SCADA market is segmented based on type, component, deployment mode, and end-use industry. The study also evaluates industry competitors and analyzes the market at the regional/country level.

Based on type, the SCADA market is segmented into monolithic SCADA systems, distributed SCADA systems, networked SCADA systems, and other types. In 2023, the monolithic SCADA systems segment is expected to account for the largest share of the SCADA market. The large market share of this segment is mainly attributed to its main functions, which are flagging processes in crises and monitoring of the sensors.

Based on component, the SCADA market is segmented into hardware, software, and services. The hardware segment is sub-segmented into human-machine interface (HMI), distribution control systems (DCS), remote terminal unit (RTU), programmable logic controller (PLC), process control systems (PCS), communication systems, and other hardware components. The services segment is sub-segmented into professional services and managed services. In 2023, the hardware segment is expected to account for the largest share of the SCADA market. This segment's large market share is attributed to the high demand for HMI, PLC, and RTUs in industrial control & automation solutions for providing efficient results and control over the manufacturing processes, which is driving the demand for SCADA hardware. Additionally, Industry players are developing HMI and advanced PLCs in modern SCADA systems that can work with cloud-based SCADA solutions.

Based on deployment mode, the SCADA market is segmented into on-premise deployments and cloud-based deployments. In 2023, the on-premise deployments segment is expected to account for the larger share of the SCADA market. The large market share of this segment is mainly attributed to the high acceptance of SCADA among large enterprises, the rising demand for comprehensive network security and control, the increasing deployment of SCADA solutions across on-premises organizations, and the growing demand for custom configurations to suit organizations' unique requirements.

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Based on end-use industry, the SCADA market is segmented into oil & gas, automotive, food & beverage, semiconductors & electronics, IT & telecommunications, agriculture, pharmaceuticals and healthcare, transportation, manufacturing, and other end-use industries. In 2023, the oil & gas segment is expected to account for the largest share of the SCADA market. The large market share of this segment is mainly attributed to various factors, such as upstream, midstream, and downstream applications in the oil & gas industry are influenced by the SCADA market. SCADA application in the oil & gas sector is used to monitor and control physical components, telecommunication networks, and pipelines. SCADA system helps to monitor the leakages of the oils and gases from the pipelines, which reduces the loss. This improves the decision-making, troubleshooting, and performance efficiency of the oil & gas sector.

Based on geography, the SCADA market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the SCADA market, followed by Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to register the largest market share during the forecast period owing to increasing investment in smart factories, growing FDI in the industrial sector, increasing worker safety regulations, and rising demand for industrial control solutions in manufacturing companies.

Key Players:

The key players operating in the SCADA market are Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), Eaton Corporation plc (Ireland), Schneider Electric SE (France), 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 (Finland), and Hitachi, Ltd. (Japan).

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Key Questions Answered in the Report:

Which are the high-growth market segments based on type, component, deployment mode, end-use industry, and geography?
What was the historical market size for the SCADA market?
What are the market forecasts and estimates for 2023-2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the SCADA market?
Who are the major players, and what shares do they hold in the SCADA market?
What is the competitive landscape like in the SCADA market?
What are the recent developments in the SCADA market?
What strategies are adopted by the major players in the SCADA market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the SCADA market, and how do they compete with the other players?

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This release was published on openPR.