SCADA Market Synopsis:
The SCADA market is growing profusely, witnessing rising implementations of the systems. The market growth attributes to the rising demand for SCADA systems from a number of end-user industries, including pharmaceutical and food & beverage sectors. Besides, the increasing adoption of SCADA technology in energy & power and the oil & gas industry creates substantial market demand.
Moreover, increasing activities in water purification & wastewater management sectors due to the rising water demand escalate market growth. According to Market Research Future (MRFR), the global SCADA Market is poised to grow at9.80% CAGR during the assessment period (2018-2023). Rapid increase in the telecommunication, manufacturing, and chemical industries increases the SCADA market size.
Additionally, the adoption of Industry 4.0 standards by leading companies and increasing demand for industrial mobility solutions substantiate the growth of the market. Also, developments in the Industrial Internet of Things (IIoT) and burgeoning sectors worldwide boost market demand. Inclination towards renewable energy sources for utilities and advances in smart grids creates the demand for advanced SCADA systems.
Furthermore, increasing investments by the SCADA technology providers to improve the capabilities of programmable logic controllers (PLC) and smart manufacturing provide new growth opportunities. Conversely, high initial investment costs required for the implementation of SCADA systems are major factors expected to impede the market growth.
Nevertheless, various benefits of SCADA, such as faster accumulation of data, visual representation of controls, and supervisors’ ability to react quickly to alarms, would support the market growth throughout the assessment period. Also, the rising demand for SCADA solutions propels market growth, influencing industry leaders’ purchasing decisions.
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Global SCADA Market Segmentation:
The report is segmented into four dynamics;
- By Component : Hardware, Software, and Solutions & Services.
- By Deployment: On-cloud and On-premise.
- By End-user: Pharmaceutical, Water & Waste Management, Energy & Power, Food & Beverage, Oil & Gas, Telecommunication, Manufacturing, Chemical, and others.
- By Regions: Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Global SCADA Market Regional Analysis:
North America dominates the global SCADA market, witnessing significant sales. The region is a hub for futuristic technologies and witnesses huge cybersecurity solutions. The largest market share attributes to the strong presence of notable players and futuristic infrastructures, facilitating the development and early adoption of advanced technologies. Moreover, significant financial and technological investments for reliable and improvised power management systems drive the growth of the market.
Besides, investments in the oil & gas industry and the high adoption of SCADA systems in the power industry, influence market growth. The US market accounts for the major share in the regional SCADA market. The North American SCADA market is projected to retain its dominance throughout the estimated period.
The Asia Pacific region stands second in the global SCADA market. The market increase is majorly driven by the presence of notable players and early adoption of IoT & artificial intelligence (AI) technologies. Additionally, increasing demand in the power generation industries in the region boosts the market growth. Moreover, significant infrastructural activities in recent times foster the growth of the regional market.
Burgeoning IT & telecom sectors, especially in the economically and technologically developing countries, such as China, Japan, and India, influence the regional market growth. The APAC SCADA market is estimated to create a substantial revenue pocket during the assessment period.
The SCADA market in the European region is emerging as a promising market globally. Factors such as the growing adoption of on-demand cloud services and economic growth in the region increase the SCADA market size. Germany, the UK, France, and Italy, drive the regional market growth, showing immense growth. The European SCADA market is expected to grow at an impressive CAGR over the forecast period.
Global SCADA Market Competitive Analysis
The well-established SCADA market appears fragmented due to the presence of several noteworthy players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch.
These players focus on innovation and development of new solutions, fuelling the already intensified market competition. Also, the high growth prospect that the market demonstrates attracts several new entrants, further intensifying the market competition.
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Industry/ Innovation/ Related News:
ADIF (Spain), a state-owned railway infrastructure manager, announced winning the tender for Alstom, Indra, and Constructora San Jose Consortium for the supply and installation of security and SCADA systems. The contract covers ventilation and extinguishing systems, fire doors, emergency radio, and gas detection systems. Alstom will provide power supplies, and its systems will be used in integration with ADIF’s SCADA system. The contract worth Euros 53 MN includes the 25 km Pajares Tunnel, which forms part of the future León-Asturias high-speed line.
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