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  • SCADA Market: Meticulous Research Analyses Why This Market is Growing at a CAGR of 14.7% to reach $57.2 Billion by 2028


    (I-SoftwareNews.Com, July 01, 2022 ) Supervisory Control and Data Acquisition (SCADA) is a system that aims to monitor and control field devices at remote sites. SCADA systems are critical as they help maintain efficiency by collecting and processing real-time data. SCADA finds application across multiple industries, including oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech, and mining & metals, among others.

    The increasing demand for automated industrial control solutions and growing investment for installing automated and connected process & control systems to gain efficiency over human labor-based operations are some of the major drivers for the growth of this market. Several companies are investing in automation technologies to gain cost-saving and productivity benefits. Additionally, the innovation of cloud-based SCADA systems offering enhanced collaboration and control over different processes and operations will propel the demand for SCADA systems in the coming years.

    Meticulous Research®, in its latest publication on the Global SCADA market, states that the market will increase at a CAGR of 14.7% from 2021 to 2028 to reach $57.2 billion by 2028.

    To provide efficient analysis, Meticulous Research has segmented this market based on component (hardware [Programmable logic controller (PLC), remote terminal unit (RTU), communication systems, human-machine interface (HMI), other hardware components], software, services [professional and managed services]), deployment mode (on-premise, on-cloud, and hybrid), and end user (oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech, mining & metals, food & beverage, power, consumer goods, automotive, machines & tools, semiconductors & electronics, aerospace & defense, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

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    Based on component, the SCADA market is segmented into hardware, software, and services. In 2020, the hardware segment accounted for the largest share of the SCADA market. High demand for HMI, PLC, and RTUs in industrial control & automation solutions for providing efficient results and control over the manufacturing processes is driving the demand for SCADA hardware. Industry players are developing HMI and advanced PLCs in the modern SCADA systems that can work with cloud-based SCADA solutions.

    Based on deployment mode, the market is segmented into on-premise, cloud-based, and hybrid. In 2020, the on-premise segment accounted for the largest share of the market. On-premise solutions are implemented by several SMEs and companies with limited investment capability, as on-cloud solutions require huge costs. In on-premise software infrastructure, SCADA software is stored on the organization’s hardware, offering better control over data, high security, and privacy.

    Based on end user, in 2020, the oil & gas segment accounted for the largest share of the market due to the increased utilization of SCADA solutions to monitor the oil & gas processing operations. Modernization of internal processes in the oil exploration & production process offers the managers and employees better access to information related to operation & maintenance, streamline production & distribution, and high yield benefits.

    In the oil & gas industry, the SCADA system plays an important role in preventing leakage along the pipeline. SCADA systems in the oil & gas industry reduce personal visits to the site, leading to route and dispatch optimization, further supporting market growth.

    Geographic Review
    Geographically, in 2020, Asia-Pacific commanded the largest share of the market, followed by Europe and Asia-Pacific. Factors such as high technical awareness related to industrial control solutions in China, Japan, and South Korea; presence of a huge industrial sector; robust manufacturing capability; adoption of Industry 4.0 technologies; and transformation to smart factories are driving the growth of the APAC market.

    SCADA Market by Component
    Programmable Logic Controller (PLC)
    Remote Terminal Unit (RTU)
    Communication Systems
    Human-machine Interface (HMI)
    Other Hardware Components
    Professional Services
    Managed Services

    SCADA Market by Deployment Mode

    SCADA Market by End User
    Oil & Gas
    Chemicals & Materials
    Paper & Pulp
    Pharmaceuticals & Biotech
    Mining & Metals
    Food & Beverage
    Consumer Goods
    Machines & Tools
    Semiconductors & Electronics
    Aerospace & Defense
    Other End Users

    SCADA Market by Geography
    North America
    Rest of Europe
    Asia-Pacific (APAC)
    South Korea
    Rest of APAC
    Latin America
    Rest of Latin America
    Middle East & Africa (MEA)
    Saudi Arabia
    South Africa
    Rest of the MEA

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    key players
    The report also provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence of the key players in this market, including Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), Eaton Corporation plc (Ireland), Schneider Electric SE (France), ABB Ltd (Switzerland), Yokogawa Electric Corporation (Japan), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Pilz GmbH & Co. KG (Germany), Survalent Technology Corporation (Canada), Valmet (Finland), and Hitachi, Ltd. (Japan).

    You can buy report here :

    Meticulous Research®

    Mr. Khushal Bombe

    +91 744-7780008

    Source: EmailWire.Com


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