Supervisory Control and Data Acquisition or SCADA system is a type of industrial control system (ICS) that allows monitoring and controlling of industrial, infrastructure, or facility-based processes locally or at remote locations. SCADA systems are widely used in industries such as oil & gas, electrical power industry, water and waste control management, telecommunications, transportation and others. SCADA offers improved productivity, reduced costs, enhanced yields and improved asset utilization through centralized monitoring and control.
The global Supervisory Control and Data Acquisition (SCADA) Market is estimated to be valued at US$ 15 Billion in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
SCADA systems enable utilities to monitor energy consumption patterns in real-time and optimize resource usage. They help in reducing transmission and distribution losses, improving grid stability and integrating renewable energy sources into the grid more efficiently. With rising energy demands worldwide and focus on upgrading aging power infrastructure, investments in smart grid technologies incorporating SCADA systems are increasing substantially. This is expected to drive the SCADA market growth over the forecast period.
SWOT Analysis
Strength: SCADA systems provide centralized monitoring and control of equipment and collect data from remote field sites in industries like oil & gas, water management etc. This enables greater operational efficiency.
Weakness: SCADA systems face security threats as they collect sensitive operational data. Network vulnerabilities can lead to disruptions and cyber-attacks.
Opportunity: Increasing digitization and automation of industrial processes is driving demand for advanced SCADA solutions with integrated analytics and forecasting capabilities.
Threats: Open-source alternatives and in-house development pose pricing pressure challenges for incumbent SCADA vendors. Emergence of low-cost IIoT platforms can also disrupt components of SCADA market.
Key Takeaways
The Global Supervisory Control And Data Acquisition (SCADA) Market Size is estimated to be valued at US$ 15 Billion in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2031.
The global SCADA market is expected to witness high growth driven by increasing spending on infrastructure modernization across industries. The oil & gas industry dominates SCADA adoption owing to widespread use in upstream and midstream operations for monitoring pipelines, rigs etc. Water & wastewater management is another major application area relying on SCADA for control of treatment facilities and distribution networks.
Key players operating in the SCADA market are Schneider Electric, Rockwell Automation, Siemens, Emerson Electric, General Electric, Honeywell, Omron, Yokogawa, Alstom, and ABB. North America currently holds the largest share due to sizable oil & gas industry and extensive pipeline networks. However, Asia Pacific is poised to emerge as the fastest growing regional market led by the power, oil & gas and manufacturing sectors in China and India demanding efficient process control systems.
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.