In a recent report by Transparency Market Research (TMR), the vendor landscape of the Global Supervisory Control and Data Acquisition (SCADA) Market is estimated to witness significant growth owing to increased consumer awareness of the benefits. that SCADA provides as real-time fault detection in machines. Apart from this, the surveillance control and data acquisition market is also driven by such factors as lower production cost and reduction in production defects as well as other advantages of the production process .
Some of the major players in the global Supervisory Control and Data Acquisition (SCADA) market are Schneider Electric SE, OMRON Corp., Rockwell Automation Inc., Honeywell International Inc., and Yokogawa Electric Corp. The competitive landscape seems consolidated in nature. thus, few players make efforts to maintain their control over the entire market. It is difficult for new players to enter the market as the major players have made it extremely difficult in the market to make their presence felt in data acquisition and surveillance control in the market.
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According to TMR report, the global surveillance control and data acquisition (SCADA) market is expected to gain US $ 40.18 billion during the forecast period of 2016 to 2024. Based on end users, the market is expected to be dominated by the electric power industry as they turn out to be a key SCADA customer in the near future. Geographically, the market appears to be dominated by North America, although Asia-Pacific will soon gain momentum in the coming years.
Efficient infrastructure construction driving market growth
An important factor leading to the growth of the SCADA market is the deployment of the SCADA system in sectors like oil and gas as well as the power sector in order to reduce losses and optimize production. Since SCADA helps redirect energy from areas of excess capacity to places with a need or scarcity of energy, it is more likely to increase its demand anywhere in the world. SCADA offers the advantage of restoring power after a scandal and this feature is seen as an increase in the future market.
Another factor to drive adoption of SCADA, especially in the electric power industry, is the increasing number of incidents of power loss during distribution and transmission. This is especially the case for India and China, as there is a need for efficient infrastructure. Thus, the Asia-Pacific sector is estimated as one of the most lucrative markets in the near future with the growth of the electric power sector. However, North America remains the dominant region in the overall market and may continue to do so in the years to come.
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System vulnerability to hamper market growth
SCADA is considered to be beneficial for many aspects of marketing, however, the increase in the number of cyber threats can be a barrier to overall market growth in the long term. In addition, systems may become vulnerable and there may be more cases of cyber crimes, thus affecting the overall market growth in a negative way.Nevertheless, the rise in technological and financial investments for sophisticated energy management and reliable can power SCADA. market in the years to come.
The information presented in this review is based on a TMR report entitled “Supervisory Control and Data Acquisition (SCADA) Market (Components – Human-Machine Interface, Programmable Logic Controller, Remote Terminal Unit and SCADA Communication Systems; Architecture – Hardware, software, and services; end user – electrical power, chemicals, oil and gas industry, food and beverage industry, manufacturing industry, transportation industry, pharmaceutical industry, management industry (Water and Wastewater and Telecommunications Industry) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024 ”.
The global Supervisory Control and Data Acquisition (SCADA) market is segmented as follows:
Global Supervisory Control and Data Acquisition (SCADA) Market By Components
- Human-machine interface (HMI)
- Programmable logic controller (PLC)
- Remote Terminal Unit (RTU)
- SCADA communication systems
Global Supervisory Control and Data Acquisition (SCADA) Market By Architecture
Global End User Supervisory Control and Data Acquisition (SCADA) Market
- Electric power
- Petroleum gas
- Water and wastewater
- Chemical products
- Food and drinks
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