SCADA Markets – Global Forecast to 2028: Growing Demand for Smart and Digitized Production Processes & Rising Adoption of Automated Technologies…

DUBLIN, Feb. 14, 2022 /PRNewswire/ -- The "SCADA Market by Component, Deployment Mode, End User - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

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The global supervisory control and data acquisition (SCADA) market is expected to grow at a CAGR of 14.7% from 2021 to 2028 to reach $57.2 billion by 2028.

Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, and opportunities. The increasing demand for automated industrial control solutions and growing investment for installing automated and connected process & control systems to gain efficiency over human labor-based operations are some of the major drivers for the growth of this market.

Several companies are investing in automation technologies to gain cost-saving and productivity benefits. Additionally, the innovation of cloud-based SCADA systems offering enhanced collaboration and control over different processes and operations will propel the demand for SCADA systems in the coming years.

The COVID-19 pandemic has negatively impacted the global industrial operations and manufacturing activities, further impacting the SCADA market. Limited consumption of luxury goods, electronics, automotive, and fluctuation in the oil & gas prices during the pandemic and country-wide lockdowns has reduced the sales in respective industries, further limiting the demand for automation and SCADA solutions.

These factors highly impacted the investment of the end-users in industrial control solutions in 2020. The global market for SCADA will steadily recover in 2021 and 2022 as companies will witness a need for efficient control & monitoring solutions that work better than human labor.

Based on component, the SCADA market is segmented into hardware, software, and services. In 2021, the hardware segment is estimated to account for the largest share of the SCADA market. High demand for HMI, PLC, and RTUs in industrial control & automation solutions for providing efficient results and control over the manufacturing processes is driving the demand for SCADA hardware. Industry players are developing HMI and advanced PLCs in the modern SCADA systems that can work with cloud-based SCADA solutions.

Based on deployment mode, the market is segmented into on-premise, cloud-based, and hybrid. In 2021, the on-premise segment is estimated to account for the largest share of the market. On-premise solutions are implemented by several SMEs and companies with limited investment capability, as on-cloud solutions require huge costs. In on-premise software infrastructure, SCADA software is stored on the organization's hardware, offering better control over data, high security, and privacy.

Based on end user, in 2021, the oil & gas segment is estimated to account for the largest share of the market due to the increased utilization of SCADA solutions to monitor the oil & gas processing operations.

Story continues

Modernization of internal processes in the oil exploration & production process offers the managers and employees better access to information related to operation & maintenance, streamline production & distribution, and high yield benefits. In the oil & gas industry, the SCADA system plays an important role in preventing leakage along the pipeline. SCADA systems in the oil & gas industry reduce personal visits to the site, leading to route and dispatch optimization, further supporting market growth.

An in-depth analysis of the geographical scenario of the global SCADA market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region.

In 2021, Asia-Pacific is estimated to command the largest share of the market, followed by Europe and Asia-Pacific. Factors such as high technical awareness related to industrial control solutions in China, Japan, and South Korea; presence of a large industrial sector; robust manufacturing capability; adoption of Industry 4.0 technologies; and transformation to smart factories are driving the growth of the APAC market.

Market Dynamics

Drivers

Rising Adoption of Automated Technologies Across Europe and Asia-Pacific

Increasing Adoption of Industry 4.0

Growing Demand for Smart and Digitized Production Processes

Government Support & Initiatives for Industrial Automation

Restraints

Opportunities

Value Chain Analysis

Companies Mentioned

The key players operating in the global SCADA market are

Rockwell Automation Inc. (U.S.)

Siemens AG (Germany)

Eaton Corporation plc (Ireland)

Schneider Electric SE (France)

ABB Ltd (Switzerland)

Yokogawa Electric Corporation (Japan)

General Electric Company (U.S.)

Emerson Electric Co. (U.S.)

Honeywell International Inc. (U.S.)

Mitsubishi Electric Corporation (Japan)

OMRON Corporation (Japan)

Pilz GmbH & Co. KG (Germany)

Survalent Technology Corporation (Canada)

Valmet (Finland)

and Hitachi (Japan)

Scope

Market by Component

Hardware

Programmable Logic Controller (PLC)

Remote Terminal Unit (RTU)

Communication Systems

Human-machine Interface (HMI)

Other Hardware Components

Software

Services

Professional Services

Managed Services

Market by Deployment Mode

On-premise

Cloud-based

Hybrid

Market by End User

Market by Geography

For more information about this report visit https://www.researchandmarkets.com/r/gvtfkk

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SCADA Markets - Global Forecast to 2028: Growing Demand for Smart and Digitized Production Processes & Rising Adoption of Automated Technologies...