Supervisory Control and Data Acquisition Market Recent Trends Witness Exponential Growth At a CAGR of 26.6% by 2032 | SCADA

Allied Market Research published a report, titled, "Supervisory control and data acquisition (SCADA) Market by Offering (Hardware, Software and Services), Component (Human Machine Interface (HMI), Remote Terminal Unit (RTU), Programmable Logic Controller (PLC), Communication System, and Others), Deployment Type (On-Premises and Cloud), and End-User (Process Industries, Discrete Manufacturing, and Utilities): Global Opportunity Analysis and Industry Forecast, 2023-2032".

According to the report, the global Supervisory control and data acquisition (SCADA) industry generated $9.5 billion in 2022 and is estimated to reach $26.6 billion by 2032, exhibiting a CAGR of 11.2% from 2023 to 2032.

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Increase in penetration of mobile SCADA system and surging trend of industry 4.0 across manufacturing and processing industries is boosting the growth of the global market. In addition, Rapid growth in utilization of cloud computing technology positively impacts growth of the SCADA market. However, huge investment costs for insertion and sustentation of SCADA systems and escalating cyberattacks in the industrial networks are hampering the market growth. On the contrary, increasing advancements in wireless sensor networks is expected to offer remunerative opportunities for expansion of the SCADA market during the forecast period.

Covid-19 Scenario

The supervisory control and data acquisition (SCADA) market has witnessed significant growth during the COVID-19 pandemic, owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand supervisory control and data acquisition (SCADA) technology. The supply chain got hampered during the pandemic along with delay logistics activities.

However, the supervisory control and data acquisition (SCADA) market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

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Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global Supervisory control and data acquisition (SCADA) market revenue, due to stable power management, as well as massive investment in technologies. However, the same region is expected to witness the fastest CAGR of 13.1% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to increase in investment by the government in automation for a wide range of industries.

The software segment is expected to experience fastest growth in the coming years, owing to its several advantages, such as improved real-time data tracking, as well as improved predictive maintenance in industrial contexts.

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Leading Market Players:

ABB Ltd.,

Alstom SA,

Emerson Electric Co.,

Hitachi Ltd.,

Honeywell International Inc.,

IBM Corporation,

Rockwell Automation Inc.,

Schneider Electric SE,

JFE Engineering Corporation,

Mitsubishi Electric Corporation.

The report provides a detailed analysis of these key players of the global Supervisory control and data acquisition (SCADA) market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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