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SCADA Market to experience hike in growth by 2025

07-27-2017 02:30 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR Research

Global SCADA Market: Overview

SCADA stands for supervisory control and data acquisition, an independent control system in other words, which is essential for proper functioning of numerous industries including energy, oil and gas, water, manufacturing, power, transportation, and recycling. SCADA helps these large-scale organizations and companies to maintain and enhance their efficiency via better communication and swift distribution of data between different departments. Some of the common examples of SCADA in real-life World can be refrigeration system in a hypermarket or supermarket, production and safety controls at a refinery or waste water treatment plant, and even energy controls at a home. Via SCADA systems, significant amount of time and money can be saved, and these glaring benefits are gaining popularity among the consumers. Consequently, the demand in the global SCADA market is projected for a robust growth rate during the forecast period of 2017 to 2025.

Global SCADA Market: Key Trends

SCADA collects analytical data that can be used to generate decisive reports and in turn supervise the future actions. Growing demand for safety assurance at organizations is one of the primary driver in the global SCADA market, while the need to minimize transmission and distribution loss and the integration of cloud computing in corporate IT are some of the other important factors augmenting the demand for SCADA. In the oil and gas industry, wherein exploration and production activities are in full swing, SCADA helps in maintenance of safety protocols, preserves the environment, and reduces operational costs by enhancing the quality of drilling outcomes. On the other hand, cyber-attacks and lack of awareness pertaining to IT trends are two important factors hindering the SCADA market from achieving its full potential. Management issues as a result of the data generated are also expected to challenge the global market for SCADA during the forecast period.

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Based on component, the SCADA market can be segmented into human machine interface (HMI), remote terminal unit (RTU), programmable logic unit (PLC), and communication. Application-wise, the market can be categorized into manufacturing, telecommunication, electrical power, oil and gas, water and waste-water, chemicals, pharmaceuticals, and food and beverages. On the basis of architecture, the market can be bifurcated into software, hardware, and services.

Global SCADA Market: Market Potential

In the recent past, the advancements in the SCADA owing to continuous efforts from the players in order to gain ground over their competitors in the SCADA market has significantly increased the efficiency of the system. Going forward, further improvements to SCADA system are expected, which will in turn opening new opportunities for the stakeholders. Evolving field of the Internet of Things and ubiquity of smartphones, to which SCADA systems can be easily embedded in order to access work progress of employees, is another futuristic favorable factor for the global SCADA market.

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Global SCADA Market: Regional Outlook

North America currently is the most lucrative region for the vendors operating in the global SCADA market, which is a reflection of growing demand for process automation systems in several end-use industries including electrical power generation and the oil and gas sector. Increase investments in technology for the development of reliable power management in countries such as the U.S. and Canada is expected to maintain North America as most profitable region in SCADA market throughout the forecast period. Germany accounts for the maximum demand for SCADA systems from Europe, which is attributed to rising concern over the purification of shale gas and escalating demand for advanced power in the country.

Global SCADA Market: Competitive Landscape

Siemens AG, Schneider Electric SE, ABB Ltd., Honey well International Inc., Emerson Electric Co., and Rockwell Automation Inc. are six leading companies in fairly consolidated and highly competitive global SCADA market. In the near future, mergers and acquisition of smaller players is expected to help these market leaders to gain ground over their competitors.

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About TMR Research

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.

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Rohit Bhisey
Head - Internet Marketing
Tel: +1-415-520-1050
Email: sales@tmrresearch.com

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