Supervisory Control and Data Acquisition (SCADA) Market
Supervisory Control and Data Acquisition (SCADA) Market
The rise in mobile SCADA adoption, Industry 4.0 trends, and growing cloud computing utilization are driving growth in the global SCADA market.
WILMINGTON, DE, UNITED STATES, November 18, 2024 /EINPresswire.com/ -- According to the report, the global supervisory control and data acquisition (SCADA) market size 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.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 the expansion of the SCADA market during the forecast period.
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The main purpose of a SCADA system is to monitor and control a plant or equipment in industries such as telecommunications, water, and waste control, energy, oil and gas refining, and transportation. SCADA is basically a computer system for gathering and analyzing real-time data. Certain important functions of SCADA include data acquisition, networked data communication, data presentation, and control.
The supervisory control and data acquisition (SCADA) market experienced a downturn during the COVID-19 pandemic due to strict lockdown measures and social distancing protocols aimed at controlling the virus's spread. Economic uncertainty, partial business closures, and diminished consumer confidence significantly impacted the demand for SCADA solutions. Additionally, supply chain disruptions and delays in logistics further compounded the challenges faced by the market.
Despite these setbacks, the growing need for efficient product manufacturing, distribution, and delivery has driven small and medium-sized businesses (SMBs) to adopt advanced supply chain solutions. The SCADA market is anticipated to recover in the post-pandemic period as supply chain and logistics restrictions ease.
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Moreover, the pandemic spurred increased investment in SCADA solutions, enabling companies to enhance quality control and streamline business processes. SCADA systems support corrective actions, track outcomes, and offer comprehensive reporting capabilities, which are essential for achieving digital transformation goals. These factors are expected to fuel market growth in the post-pandemic era.
Covid-19 Scenario
1. 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 business shutdown and low consumer confidence impacted the demand for supervisory control and data acquisition (SCADA) technology. The supply chain got hampered during the pandemic along with delay logistics activities.
2. However, the supervisory control and data acquisition (SCADA) market is expected to regain its pace during the post-pandemic scenario due to the easing of restrictions.
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.
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Based on component, the remote terminal unit (RTU) segment held the highest market share in 2022, accounting for nearly two-fifth of the global Supervisory control and data acquisition (SCADA) market revenue, owing to rise in adoption of RTU devices in various industrial process, such as pressure tests, circulation pumps from a central location, to improve operational efficiency, and control various processes. However, the communication system segment is projected to manifest the highest CAGR of 14.6% from 2023 to 2032, as it helps to improve business operational efficiency, reduce infrastructure costs, and improve product quality.
Based on end-user, the utilities segment accounted for the largest share in 2022, contributing to nearly half of the global Supervisory control and data acquisition (SCADA) market revenue, owing to increase in adoption of SCADA in various utilities industries to monitor and control remote pumps and compressors. However, the discrete manufacturing segment is expected to portray the largest CAGR of 14.0% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, as it helps businesses in the manufacturing sector to manage their operations more efficiently and effectively.
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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