Press release
SCADA Market Report on Size, Share, Scope and Forecast 2024-2031
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global SCADA Market Size, Share & Trends Analysis Report By Offering (Hardware, Software, Services), Component (Programmable Logic Controller, Remote Terminal Unit, Human-Machine Interface), End User (Process Industries, Discrete Manufacturing, Utilities), Region, Market Outlook And Industry Analysis 2031"
The global SCADA market is estimated to reach over USD 25.21 billion by 2031, exhibiting a CAGR of 11.6% during the forecast period.
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The SCADA system, which combines hardware and software, enables industrial organizations to track, collect, and process real-time data in various areas. Additionally, it helps with local or remote control of industrial processes. Additionally, SCADA supports maintaining log files and establishing communication with devices, sensors, valves, pumps, and motors.
The global market is expanding because of the increased use of mobile SCADA systems and the burgeoning Industry 4.0 trend in the manufacturing and processing sectors. Additionally, the rapid expansion of cloud computing technology positively impacts the market growth for supervisory control and data acquisition (SCADA). However, high installation and maintenance costs for SCADA systems and increased industrial network intrusions impede industry expansion. On the other hand, throughout the projection period, growing developments in wireless sensor networks would present lucrative chances for SCADA market expansion.
List of Prominent Players in the SCADA Market:
• Rockwell Automation,
• Schneider Electric,
• Emerson Electric,
• Siemens,
• ABB,
• General Electric,
• Honeywell International,
• Omron,
• Yokogawa Electric
• ABB (Switzerland)
• Azbil Corporation (Japan)
• Capula Ltd. (UK)
• ELYNX TECHNOLOGIES LLC (US)
• Emerson Electric Co. (US)
• Enbase LLC, Ing. (US)
• Fuji Electric Co. Ltd. (Japan)
• GENERAL ELECTRIC (US)
• Hitachi Ltd. (Japan)
• Honeywell International,
• Inductive Automation LLC (US)
• Mitsubishi Electric Corporation (Japan)
• OMRON corporation (Germany)
• Progea srl (Italy)
• Rockwell Automation Inc. (US)
• Schneider Electric (France)
• Schweitzer Engineering Laboratories Inc. (US)
• Siemens (Germany)
• TOSHIBA CORPORATION (Japan)
• Valmet (Finland)
• Willowglen Systems (Canada)
• Yokogawa Electric Corporation (Japan)
Market Dynamics:
Drivers-
A rise in smart buildings has been observed in developing nations, which is predicted to support the market's total growth. Additionally, the industry is positively impacted by the increasing adoption of smart devices and the expanding number of internet users. The market is further influenced by the integration of big data analytics and cloud computing, which offers improved services to numerous sectors. The supervisory control and data acquisition (SCADA) hardware and software processing solutions are improved through research and development (R&D) operations.
Challenges:
On the other hand, a fall in oil prices and the high installation and maintenance costs of these systems are likely to constrain market expansion. The supervisory control and data acquisition (SCADA) market is expected to face challenges from cyberattack vulnerability throughout the forecast period.
Regional Trends:
The Asia-Pacific region has led the global SCADA market, according to geography. As a manufacturing and technology hub supporting the growth of supervisory control and data acquisition (SCADA) applications, the Asia-Pacific area is the dominant region. South Korea, China, and Japan provide the most excellent solutions for SCADA applications. North America is anticipated to have the most opportunity during the projected period. Rapid technological developments and advanced solutions are key drivers of North America's phenomenal growth.
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Recent Developments:
• In July 2020, Schneider Electric, a leading name in energy management and automation, unveiled Power SCADA Operation 2020, the newest iteration of its acclaimed EcoStruxureTM software. The most recent version is intended to function as an open platform rather than just a SCADA system for power networks, with high-speed control capabilities and the most recent cybersecurity improvements.
Segmentation of SCADA Market-
By Offering-
• Hardware
• Software
• Services
By Component-
• Programmable Logic Controller
• Remote Terminal Unit
• Human-Machine Interface
By End-User-
• Process Industries
• Discrete Manufacturing
• Utilities
• Telecommunications
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions.
Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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