SCADA System Market 2019 Global Trend, Segmentation and Opportunities, Forecast 2024

SCADA System Market 2019 Global Trend, Segmentation and Opportunities, Forecast 2024

“SCADA System Market”
WiseGuyReports.com adds “Global SCADA System Market: Insights, Attractiveness, Trends and Opportunities – Forecast to 2024” reports to its database.

SCADA System Market:

Executive Summary

The value of the Global SCADA System Market was estimated to be USD 10.43 billion in 2018, and it is projected to grow further during the forecast period (2019 to 2024) due to the rise of digital technologies in industrial sectors like cloud computing, Industrial Internet of things (IIoT), Big Data Analytics, Augmented and Virtual reality and others, which will eventually revolutionize industrial automation and process controlling systems. Incorporation of these digital technologies with SCADA systems, along with the increasing need to upgrade old electrical grids, manufacturing units, oil and gas pipelines and transportation networks across the globe is set to alter the market for SCADA systems radically. However, the high costs involved in the implementation of SCADA systems may have an adverse effect on this growth.

A SCADA (Supervisory Control and Data Acquisition) system is a software system which monitors and controls an entire area. It comprises a remote terminal unit, which is also known as an RTU. Most control actions are automatically performed by RTUs or PLCs (programmable logic controllers), which can be set to specific requirements.

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SCADA technology can be applied to a plethora of process controlling systems such as power-generation, transmission and distribution systems, water distribution and reservoir systems, systems in public buildings like electrical heating and cooling systems, Generators and turbines, traffic light control systems, etc. For example, in fuel pipelines, a SCADA system can be used to maintain or regulate pressure by automating the opening and closing of the pressure release valves.

Company Analysis – ABB, Emerson Electric Corp., Seimens, Honeywell International, Schneider Electric, General Electric

Market Segmentation:

Overall, the global SCADA System market is segmented broadly on the basis of component, architecture, end user and geography. Based on component types manufactured or sold, the Global SCADA System market is segmented into the Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), Human-Machine Interface (HMI), Communication Systems and others. The market by architecture is further categorized into hardware, software and services. Since the SCADA technology is widely applicable to many different industries, this market is also segmented on the basis of end-user into oil & gas, power generation, transportation, water & wastewater, chemicals, and other categories where SCADA systems can be implemented.

Regional Analysis:

North America, Europe, Asia Pacific, LAMEA – Latin America, the Middle East and Africa are the key regions involved in the Global SCADA System Market analysis.

Of these regional markets, the SCADA market in the Asia Pacific region is predicted to experience high growth over the forecast period, thanks to the rise in end-use applications such as manufacturing and telecommunication. In addition, the need for automation in the increasing number of developing industries, coupled with the growth in the quality of life in the region has led to an increase in the energy demand in this region. Consequently, the need for automated solutions in the region has also been augmented, fueling the SCADA System Market growth.

Industry News:

The value of the Global SCADA System Market is predicted to grow to USD 15.2 billion by 2024. The primary drivers of this growth are the increasing demand for solutions to manage or control process industries, increased adoption of Industry 4.0 in process industries, and increased use of software platforms such as IIoT and cloud computing.

Continuous…

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