SCADA Market Size, Share, Price, Trends, Outlook, Report, Growth, Analysis, Overview and Forecast 2023-2028
Global SCADA Market Size To Grow At A CAGR Of 6% In The Forecast Period Of 2023-2028
The ‘Global SCADA Market Trends, Size, Share, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global SCADA market, assessing the market on the basis of its segments like component, architecture, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
SCADA Market Size, Share, Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6%
|Market Size in 2020||USD 19.2 billion|
|Revenue Forecast in 2026||USD 27.2 billion|
|Growth Rate CAGR||6%|
|Major Players||ABB Ltd., Emerson Electric Co, Schneider Electric, Rockwell Automation, Inc., Siemens AG,
General Electric Company and among others.
The global SCADA market is expected to register growth during the forecast period on account of the growing adoption of cloud-based SCADA along with infrastructural developments such as transportation and smart cities. The surging adoption of industry 4.0 technologies involving Industrial IoT (IIoT) as well as the cloud is aiding the market growth of SCADA across the globe.
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Various industries are using this technology to monitor machines across multiple sites as well as collect data regarding their operations, to increase productivity and efficiency. The advent of wireless sensor networks along with their adoption in SCADA is further expected to provide market opportunities over the coming years. However, the need for skilled programmers, analysts, and operators to keep the system owing to its complicated architecture may hinder the growth the SCADA market.
The oil and gas end uses of SCADA are anticipated to drive the market growth across the globe over the upcoming years. Oil and gas companies around the world are employing automation technologies to improve asset management as well as achieve improved field visibility. Moreover, SCADA offers an improved and proactive method of diagnosing problems along with real-time data to get on-point decisions as well as maximise profits which is likely to push forward the growth of the SCADA market across the globe.
SCADA Industry Definition and Major Segments
Supervisory control and data acquisition (SCADA) refers to a centralised control framework that is used to execute high-level process supervision and management while gaining real-time updates and information, in particular from remote locations. SCADA comprises of software and hardware components such as computers, network data communications, and graphical user interfaces. Versatile and customisable, SCADA are used across industries for streamlined management and increased efficiency, data distribution, and minimisation of downtime.
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Based on component, the market is segmented into:
- Programmable Logic Controller (PLC)
- Remote Terminal Units (RTU)
- Human Machine Interface (HMI)
- Communication Systems
By architecture, the market is classified into:
Based on end use, the market is segmented into:
- Oil and Gas
- Water and Wastewater
- Chemicals and Petrochemicals
Based on region, the market is divided into:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
SCADA Market Trends
Geographically, Europe is expected to witness significant growth in the SCADA market share over the forecast period on account of the surging investments in smart grid projects and the development of the production industry. With the implementation of supervisory control and data acquisition solutions in smart cities for improved wastewater management, optimised street lighting and traffic control for energy saving, the market growth of SCADA is likely to boost in the region. Germany is likely to hold a significant share in the market growth of SCADA due to the growing smart grid technologies in the country.
Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the SCADA market growth on account of the high production and its position as an upcoming manufacturing centre. Countries like China, Japan, and South Korea are providing lucrative opportunities for SCADA applications as these countries incorporate high technical awareness in industrial control solutions. The rising manufacturing and industrial sector in the region is likely to support the adoption of automation technologies which is further expected to drive the market growth of SCADA over the coming time frame.
Key Market Players
The major players in the global SCADA market report are ABB Ltd., Emerson Electric Co, Schneider Electric, Rockwell Automation, Inc., Siemens AG, and General Electric Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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