According to the latest report by IMARC Group, titled "SCADA Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global SCADA market reached a value of US$ 19 Billion in 2021. Supervisory control and data acquisition (SCADA) is a system of software and hardware elements, including personal controllers (PCs) and networks, that enables organizations to monitor and manage industrial operations from local or isolated areas. It also allows users to interact with sensors, valves, pumps, and motors through the human-machine interface (HMI) to record several commercial events. Apart from this, SCADA aids in processing data for making smart business-related decisions, notifying system issues to mitigate downtime, and storing an excessive amount of information. This, in turn, aids in ensuring worker safety, limiting transmission losses, providing greater customer satisfaction, and enhancing overall productivity and workflow.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global SCADA Market Trends:
One of the main factors driving the global SCADA market is the increasing demand for efficient automated industrial mobility solutions to effectively manage various industrial operations. In line with this, the increasing adoption of digital technologies, such as the industrial internet of things (IIoT) and cloud platforms, to control machines, acquire real-time updated information regarding operations, and generate historical data to predict futuristic events and provide valuable insights are supporting the market growth. Additionally, the large-scale integration of wireless sensor networks to enhance the overall efficiency and productivity of manufacturing facilities is acting as another growth-inducing factor. Moreover, the escalating uptake of SCADA in water management plants to monitor and collect precise records regarding the levels of specific chemicals and toxins present in the water is propelling market growth. Other factors, including ongoing research and development (R&D), increasing government focus on the development of smart cities, the widespread adoption of work from home (WFH) and bring your own device (BYOD) model due to the coronavirus disease (COVID-19) pandemic, and strategic collaborations amongst key players to enhance product performance, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 25.4 Billion by 2027, growing at a CAGR of 4.8 % during 2022-2027.
- Based on the component, the market has been segregated into programmable logic controller (PLC), remote terminal units (RTU), human machine interface (HMI), communication systems, and others.
- On the basis of the architecture, the market has been segmented into hardware, software, and services.
- Based on the end-user, the market has been categorized into oil and gas, power, water and wastewater, manufacturing, chemicals and petrochemicals, pharmaceuticals, and others. The oil and gas industry currently accounts for the largest share.
- On regional basis, the market has been segmented into North America (United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being ABB Ltd., Emerson Electric Co., Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Alstom, General Electric Co., Honeywell International, Inc., Omron Corporation, Yokogawa Electric Corporation, Iconics Inc., Elynx Technologies, LLC, Enbase LLC, Globalogix and Inductive Automation.
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