Supervisory Control and Data Acquisition (SCADA) Market Valuable Growth Prospects and Insights on Fu
Global SCADA market was valued at US$25.56 bn in 2015. Estimated to expand at a CAGR of 5.20% from 2016 to 2024, the revenues in this market will touch US$40.18 bn by the end of 2024.
[ClickPress, Tue Aug 06 2019] In a recent report by MRRSE, the vendor landscape of the global supervisory control and data acquisition (SCADA) market is estimated to be registering a significant growth owing to the rise in awareness among consumers with relation to the benefits that SCADA provides like real-time detection of faults in machineries. Apart from that the market for supervisory control and data acquisition is also driven by factors like production cost decline and reduced defect in output along with other production process advantages.
Get Report Sample Copy @ https://www.mrrse.com/sample/149
Some of the leading players of the global supervisory control and data acquisition (SCADA) market are Schneider Electric SE, OMRON Corp., Rockwell Automation Inc., Honeywell International Inc., and Yokogawa Electric Corp. The competitive landscape seems to be consolidated in nature thus, few handful players are making efforts to hold their control in the overall market. It is difficult for new players to enter the market as major players have made it extremely difficult in the market so that their presence is felt in the data acquisition and supervisory control over the market.
As per the MRRSE report, the global supervisory control and data acquisition (SCADA) market is estimated to earn a US$40.18 bn within the forecast period of 2016 to 2024. Based on end users, the market is anticipated to be dominated by electric power industry as they are turning out to be a key customer of SCADA in the near future. Geographically, the market is seen to be led by North America although Asia Pacific is soon to gather pace in the coming years.
Efficient Infrastructure Construction Stimulating Market Growth
An important factor leading to the growth of the SCADA market is the SCADA system deployment in sectors like oil and gas as well as electrical sector so as to reduce the loss and optimize production. As SCADA helps in re-routing power from excess capacity areas to places with power need or shortage, it is more likely to increase its demand all over the world. SCADA offer the benefit of restoring power after an outrage and this feature is considered to be augmenting the future market.
Another factor to boost the adoption of SCADA especially in the electric power industry is the increase in the number of incidences of power loss during distribution and transmission. This is most particularly in the case of India and China as there stands a requirement for efficient infrastructure. Thus, Asia Pacific sector is estimated to be one of the most lucrative markets in the near future with the growth of the electric power sector. However, North America remains the dominating region of the overall market and may continue to do so in the future years.
System Vulnerability to Hinder Market Growth
SCADA is seen to be beneficial for many aspects of marketing however, the surge in the number of cyber threats may act as a hindrance to the overall growth of the market in the long run. Adding to that, the systems may get vulnerable and there may be more cases of cyber-crimes thus, affecting the overall market growth in a negative way.Nevertheless, the rise in technological and financial investments for sophisticated and reliable power management may propel the SCADA market in the years to come.
The information presented in this review is based on a MRRSE report titled, “Supervisory Control and Data Acquisition (SCADA) Market (Components - Human Machine Interface, Programmable Logic Controller, Remote Terminal Unit, and SCADA Communication Systems; Architecture - Hardware, Software, and Services; End User - Electrical Power, Chemicals, Oil & Gas Industry, Food & Beverages Industry, Manufacturing Industry, Transportation Industry, Pharmaceutical Industry, Water & Wastewater Management Industry, and Telecommunications Industry) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024”.
Browse Complete Research Report with TOC @ https://www.mrrse.com/scada-market
The global supervisory control and data acquisition (SCADA) market is segmented as follows:
Global supervisory control and data acquisition (SCADA) market by Components
- Human Machine Interface (HMI)
- Programmable Logic Controller (PLC)
- Remote Terminal Unit (RTU)
- SCADA Communication Systems
Global supervisory control and data acquisition (SCADA) market by Architecture
Global supervisory control and data acquisition (SCADA) market by End User
- Electrical power
- Oil & gas
- Water & wastewater
- Food & beverages
Global supervisory control and data acquisition (SCADA) market by Geography
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates (UAE)
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
MRRSE is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
MRRSE believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
90, State Street
Albany, NY – 12207(USA)
United States Telephone: +1-518-730-0559