Press release
SCADA Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments
SCADA Global Market Report 2024
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=9022&type=smp
According to The Business Research Company's, 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.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/scada-global-market-report
Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
SCADA Market 2024 Key Insights:
• 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%.
• Oil And Gas Sector Growth Fuels Demand For SCADA Market
• Innovative Advancements Propel SCADA Market
• Asia-Pacific was the largest region in the SCADA market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=9022&type=smp
Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release SCADA Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments here
News-ID: 3776594 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for SCADA
SCADA System Market Key insights
Supervisory Control and Data Acquisition (SCADA) system aims to control and monitor field devices at the remote sites. SCADA systems are very crucial as they help in maintaining the efficiency by collecting and processing real time data. With real time data, businesses, governments, and individuals are able to make data driven decisions regarding improving their processes. SCADA system find applications in industries such as energy & power, oil & gas,…
SCADA Oil And Gas Market Report 2024 - SCADA Oil And Gas Market Growth, Trends A …
"The Business Research Company recently released a comprehensive report on the Global SCADA Oil And Gas Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company's, The scada…
SCADA Market Size, Market Analysis | SCADA Industry Future Growth, Share, Market …
Global SCADA Market Report provides a detailed industry overview along with the analysis of Cost Structure, Supply Chain, Development Techniques, Retailers Analysis, Financial Support, business Strategies, Marketing Channels. Global SCADA Market research report provides a point-by-pointIn-Depth analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, the impact of domestic and global market players, value chain optimization, trade regulations, recent developments,…
Global SCADA Market Research Report 2018
This report thinks about the Global SCADA Market showcase status and figure, arranges the Global SCADA Market advertise estimate (esteem and volume) by producers, type, application, and district. This report centers on the best producers in the United States, South Korea, and Taiwan and different districts.
Get sample copy of report:
https://www.marketdensity.com/contact?ref=Sample&reportid=5688
Table of Contents
1 SCADA Market Overview
1.1 Product Overview and Scope of SCADA
1.2 SCADA Segment by Type (Product Category)…
Growth In SCADA Systems Adoption
The global relay and industrial control manufacturing market, a part of the electrical and electronics manufacturing industry, grew at a compound annual growth rate (CAGR) of around 8% during the historic period. The electrical and electronics manufacturing industry showed a steady growth. The growth is mainly due to high demand for motor starters and controllers from automobile, FMCG and machinery manufacturing industries.
In the forecast period, the global relay and…
SCADA Market 2018 Global Key Leaders: SCADA are ABB, IBM Corporation, Rockwell A …
SCADA Market Overview:
This report covers current events and trends in the market for SCADA to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts are able to make highly accurate projections. MRFR’s report includes a thorough analysis of the global SCADA Market segmented on the basis of component, deployment, end-user, and region with astute insights.
The report has been prepared to…
