SCADA market projected to reach $40.18 billion by 2024
March 19, 2018
Rising awareness among consumers regarding the benefits of SCADA, such as the real-time detection of faults in machinery, reduction in the amount of defects in the output, decline in production...
A new research report added to the comprehensive repository of Market Research Reports Search Engine (MRRSE) offers market forecast and analysis on the global supervisory control and data acquisition market (SCADA). The report titled “Supervisory Control and Data Acquisition (SCADA) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” gives users transparent and unbiased insights on the key factors that are shaping the adoption of SCADA globally.
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SCADA systems have been instrumental in increasing the efficiency of many industrial processes. Organizations around the world are focusing on reducing the energy loss due to human and machine limitations, and SCADA tools have emerged as a pragmatic option. Use of SCADA in shale gas extraction and development of smart grids is likely to boost their adoption among end-use industries during the assessment period. However, it is the growing spate of applications in the electrical power sector that are likely to offer the next level of opportunities to vendors. China and India are emphasizing on self-sufficiency in terms of power generation, and deployment of smart grids has witnessed a massive increase. Owing to the effectiveness of SCADA in cutting down power losses in smart grids, it is highly likely that their applications will witness an increase in the electrical sector.
The report offers segment-wise analysis and insights to give readers information on categories where the next level of opportunities are arising. The report has segmented the market on the basis of components, architecture, end use industry, and geography. According to the report, North America will continue to be one of the leading markets for SCADA during the assessment period, owing to high emphasis on operational efficiency among end-users in the region. The region is likely to hold a revenue share of nearly 33% during the forecast period. Adoption of SCADA in the region will be led by rising emphasis on process automation in oil & gas sector. The robust electrical power industry of the sector is also likely to provide growth opportunities to manufacturers.
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In addition to North America, Europe is likely to be the other key market for SCADA during the forecast period. According to the report, adoption of SCADA in Europe is particularly high in Germany, owing to the increasing emphasis on wastewater infrastructure. Manufacturers can expect a slew of opportunities during the forecast period.
The key companies profiled in the global SCADA market report include OMRON Corp., Emerson Electric Co., ABB Ltd., Rockwell Automation Inc., Yokogawa Electric Corp., Siemens AG, General Electric Co., Honeywell International Inc., Schneider Electric SE, and Afcon Holdings Group.
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