by Supervisory control and data acquisition (SCADA) systems form the core of automation for process industries worldwide. They facilitate remote monitoring and control of industrial processes that continue running 24/7. SCADA systems enable smooth operations through real-time data collection from sensors and instruments in the field and transmitting commands to control industrial processes. Key industries where SCADA systems play a critical role include oil & gas production, electrical power generation and distribution, water and wastewater management, manufacturing, and transportation. SCADA enables monitoring and control of variables like temperature, pressure, flow rates etc. and helps optimize processes for higher efficiency, productivity and safety.
The global SCADA Market is estimated to be valued at US$ 114.61 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increased demand for real-time process monitoring across industries is expected to drive the SCADA market growth over the forecast period. Process industries are under constant pressure to improve operational efficiency through real-time data insights and prevent unplanned downtime which can impact productivity and revenue. SCADA systems play a vital role in enabling real-time monitoring of distributed assets from a central location which helps process optimization. Furthermore, increasing connectivity through Industrial Internet of Things (IIoT) technologies is integrating more field devices into SCADA infrastructure to gather real-time data. This is expanding opportunities for remote management of geographically dispersed assets. Growing investments in modernizing aging infrastructure for electricity transmission and distribution networks also presents an opportunity for advanced SCADA solutions. Adoption of cloud and mobility solutions is bringing operational flexibility to enable monitoring on the go, thereby supporting the SCADA market expansion.
Segment Analysis
The supervisory control and data acquisition (SCADA) market is dominated by the oil & gas sub segment with around 30% market share. The oil & gas industry requires constant monitoring of their assets spread over large geographical areas for smooth operations. SCADA systems help in remote monitoring and control of equipment and processes in the oil & gas industry which has increased their adoption leading to the high market share.
PEST Analysis
Political: Regulatory norms focusing on safety, security and environment protection have increased monitoring needs driving SCADA adoption.
Economic: Rising investments in process industries and emerging technologies is positively impacting the SCADA market growth.
Social: Growing demand for automation and focus on operational efficiency are increasing SCADA implementation across industries.
Technological: Advancements in IoT, cloud computing, AI are integrating with SCADA systems offering advantages like remote access and predictive maintenance.
Key Takeaways
The Global Supervisory Control And Data Acquisition (SCADA) Market Demand is expected to witness high growth over the forecast period. The global Supervisory Control and Data Acquisition (SCADA) Market is estimated to be valued at US$ 114.61 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.
North America dominates the market currently due to large process industry presence and early technology adoption. Europe is another major market driven by government emphasis on efficient manufacturing.
Key players operating in the SCADA market are ABB Ltd., Hitachi Ltd, Emerson Electric Co., Alstom, International Business Machines Corporation, Honeywell International Inc., Schneider Electric, Rockwell Automation, Inc., JFE Engineering Corporation, ICONICS, Inc., Mitsubishi Electric Corporation, and others. Key players focus on product innovations and partnerships to strengthen market presence. In addition, leveraging opportunities arising from integration of new-age technologies will help key players gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
