Tokyo, Jan. 06, 2022 (GLOBE NEWSWIRE) -- According to Precedence Research, the global supervisory control and data acquisition (SCADA) market size was valued at USD 35.38 billion in 2021. The global supervisory control and data acquisition (SCADA) market is growing due to an increase in cloud-based SCADA system usage, infrastructure development such as smart cities and transportation, and high penetration of mobile SCADA systems. The cyber risks and the expenditure required to set up a SCADA system, on the other hand, are projected to stymie the SCADA market’s growth.
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On the other hand, an increase in R&D efforts in wireless sensor networks in SCADA, as well as rapid growth in big data and analytics, has increased the efficiency of supervisory control and data acquisition (SCADA) systems, presenting a significant market expansion opportunity.
Scope of the SCADA Market
| Report Coverage | Details |
| Market Size in 2021 | USD 35.38 Billion |
| Growth Rate From 2021 to 2030 | CAGR of 6.3% |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Companies Covered | Schneider Electric S.E., merson Electric Co., ABB Ltd., Hitachi Ltd., IBM Corporation, ERockwell Automation Inc., Omron Corporation, Honeywell International Inc., Mitsubishi Electric Corporation, Yokogawa Electric Corporation |
Regional Snapshot
Asia-Pacific is the largest segment for supervisory control and data acquisition (SCADA) market in terms of region. The rising government spending in smart city projects will increase market size of supervisory control and data acquisition (SCADA) during the forecast period. The Asia-Pacific plans to build roughly 300 smart cities. In smart cities, supervisory control and data capture systems are used to improve wastewater management, traffic control, and energy efficiency in street lighting.
North America region is the fastest growing region in the supervisory control and data acquisition (SCADA) market. The automation technology adoption is aided by the rising industrial sector, especially in North America region. The increased government focus on smart city development would support supervisory control and data acquisition (SCADA) market demand. In order to improve wastewater and transportation management, smart cities use supervisory control and data collecting systems.
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Market Dynamics
Drivers
Increasing adoption of industry 4.0
The rising importance of real-time data in various industries for process analysis, as well as the growing need for automatic machines and robots, are boosting the adoption of industry 4.0. Most of industrial processes and systems can be automated with industry 4.0, allowing manufacturing units to run around the clock. It also helps to eliminate the errors committed by humans, that are common in manufacturing operations and processes. The cyber-physical systems, IOT, and cloud computing are all part of industry 4.0. As a result, the increasing adoption of industry 4.0 is driving the growth of supervisory control and data acquisition (SCADA) market.
Restraints
Threat of cyberattacks
While developing a sensor-based network to monitor and control critical infrastructures, one of the most important concerns to handle is cyberattacks. Supervisory control and data acquisition (SCADA) systems are vulnerable to cyberattacks since they are made up of a network of sensors, mainframe computers, communications systems, and storage systems. By combining logical processes and physical operations, SCADA systems manage the operational aspects of infrastructure. Thus, the threat of cyberattacks is restricting factor for the growth of supervisory control and data acquisition (SCADA) market during the forecast period.
Opportunities
Growth in big data analytics
The big data analytics have boosted the efficiency of SCADA systems, opening up lots of new opportunities for the market. The analytical software solutions aid businesses in reducing errors, improving decision-making, and diagnosing the source of issues. As a result, a growing number of sectors are using these technologies to construct decision-making methods. Supervisory control and data acquisition (SCADA) and advanced process control vendors have begun to include analytics tools in their products.
Challenges
Declination of gas and oil prices
The prices of gas and oil have been declining since a decade. The oil and gas firms have seen a drop in profit, revenue, and operating margins as a result of the price reduction. As a result, the investments in infrastructure projects have decline to some extent. The process automation is used in infrastructure projects such as hydrocarbon exploration and refinery development. As a result, the drop in capital investments has an impact on the process automation. Thus, the declination of gas and oil prices is a huge challenge for the growth of supervisory control and data acquisition (SCADA) market.
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Report Highlights
- Based on the offering, the software segment dominated the global supervisory control and data acquisition (SCADA) market in 2020 with highest market share. SCADA is a control system that combines software and hardware to develop automation technologies. Data regarding processors and connected equipment is received by the system, which supervisors utilize to control and optimize operations.
- Based on the component, remote terminal units (RTU)segment is estimated to be the most opportunistic segment during the forecast period. The remote applications such as freshwater reservoirs and onshore oil and gas areas benefit from remote terminal units (RTU)’s increased communication capabilities. They also contribute to market income by facilitating direct interface between actuators, field sensors, and central control units. The market size will be driven by the growing need for low-cost monitoring solutions in remote locations.
Segments Covered in the Report
By Offering
- Hardware
- Software
- Services
By Component
- Human-machine Interface (HMI)
- Programmable Logic Unit (PLC)
- Remote Terminal Units (RTU)
By Application
- Electrical Power
- Oil & Gas
- Water & Wastewater
- Manufacturing
- Transportation
- Telecommunication
- Chemicals
- Food & Beverages
- Pharmaceuticals
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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