Press release
SCADA Market Report 2024-2033 | Size, Share, and Insights: A Holistic Overview
SCADA Market
SCADA Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $17.76 billion In 2028 At A CAGR Of 8.7% :
The SCADA market size has grown strongly in recent years. It will grow from $11.87 billion in 2023 to $12.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrial automation needs, critical infrastructure monitoring, efficiency and productivity gains, regulatory compliance requirements, enhanced operational visibility.
The SCADA market size is expected to see strong growth in the next few years. It will grow to $17.76 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to integration with IoT and big data analytics, focus on cybersecurity measures, renewable energy expansion, smart city initiatives, remote monitoring and control demands. Major trends in the forecast period include mobile SCADA applications, emphasis on open standards, renewable energy integration, remote monitoring and control, water and wastewater management.
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SCADA Market Major Segments
The SCADA market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Component: Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), Human-Machine Interface (HMI), Communication System, Other Components
3) By Deployment: On-Premise, Cloud
4) By Application: Chemical And Pharmaceuticals, Food And Beverage, Manufacturing, Oil And Gas, Transportation, Utility, Water And Sewage
Key Driver - Oil And Gas Sector Growth Fuels Demand For SCADA Market
The growth of the oil and gas sector is expected to propel the growth of the SCADA market. The oil and gas sector refers to the sector of industry focused on the exploration, observations, development, drilling, production, extraction, refining, distribution, and transportation of hydrocarbons from the oil rigs to the consumers. In the oil and gas industry, SCADA software monitors and controls pipelines, and measures gas well production remotely. It offers asset optimization with greater visibility of the field and enhances safety by streamlining the process. For instance, in October 2022, according to the World Oil Outlook report published by OPEC (Organization of the Petroleum Exporting Countries), an Austria-based intergovernmental organization for oil, global primary energy demand is expected to rise by 23% by 2045. Furthermore, global oil consumption is expected to rise from about 97 million barrels per day (mb/d) in 2021 to around 110 million barrels per day (mb/d) in 2045, with refining capacity is expected to be 15.5 million barrels per day (mb/d) between 2022 and 2045. Therefore, the growth of the oil and gas sector is expected to propel demand for the SCADA market.
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Prominent Trend - Innovative Advancements Propel SCADA Market
Product innovations have emerged as a key trend gaining popularity in the SCADA market. Major companies operating in the SCADA market are focusing on product innovations to strengthen their market position. For instance, in October 2022, Emerson Electric Co., a US-based manufacturer and provider of engineering services and products for industrial, commercial, and consumer markets, launched an advanced automation platform, Movicon.NExT 4.2. It offers a simple interface that links to any field device, control system, or enterprise system, providing users and original equipment manufacturers (OEMs) with the data and insights required to achieve operational excellence. It is quick, secure, and efficient, and it provides superior performance, rapid application development, and enhanced connectivity.
SCADA Market Players
Major companies operating in the SCADA market report are Hitachi Ltd., Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., Toshiba Corporation, ABB Ltd, Fuji Electric Co Ltd., Eaton Corporation plc, Emerson Electric Company, Rockwell Automation Inc., Omron Corporation, Yokogawa Electric Corporation, Advantech Co Ltd., Parametric Technology Corporation., Schweitzer Engineering Laboratories Inc., B&R Industrial Automation GmbH, Wunderlich-Malec Engineering GmbH, Inductive Automation LLC, Tesco Controls LLC, COPA-DATA GmbH, NovaTech Automation Corporation, Elynx Technologies LLC, Intouch Insight, Iconics Inc., Progea S.r.l., Trihedral Engineering Limited, VTScada Systems Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the SCADA market in 2023. The regions covered in the scada market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. SCADA Market Report Structure
3. SCADA Market Trends And Strategies
4. SCADA Market - Macro Economic Scenario
5. SCADA Market Size And Growth
…..
27. SCADA Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Market Synopsis:
SCADA is an automation tool which collects and supervises data. Global SCADA market is expected to show significant growth through the forecast period. Increase in demand for automation among various industry verticals, rise in the Internet of things, demand for remote control of operations are the factors that are driving the global SCADA market. Furthermore, increasing investments in research and development, entry of new market players to provide innovative…
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Table of Contents
1 SCADA Market Overview
1.1 Product Overview and Scope of SCADA
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