Ability to Perform Supervisory Operation over other Devices bound to lead Global SCADA Market to cross USD 41.17 Bn by 2024
SCADA stands for Supervisory Control and Data Acquisition. Lately, the global market for SCADA has gained impetus. SCADA is a computer system for gathering and analyzing real-time data. It is characterized as a control system design that uses computers, networked data communications and graphical user interfaces for high-level process supervisory management and also uses other peripheral devices like programmable logic controllers and discrete PID controllers to interface to a process plant or machinery. The ability to perform a supervisory operation over a variety of other proprietary devices is the most important attribute of a SCADA system. The global SCADA market was estimated to be close to USD 28.30 Bn in 2017. The report by DecisionDatabases.com on this market foresees the market to grow at 5.50% CAGR and reach USD 41.17Bn by year 2024.
SCADA concept can be used to fabricate both small and large systems. Relying on the application, the system can range from tens to thousands of control loops. Telecommunications, water and waste control, energy, oil & gas refining, and transportation are certain industries where SCADA system is being adopted to monitor and control a plant or equipment. The SCADA system can detect a leak on a pipeline occurred anywhere in the plant and alert the home station by transferring the information back to the central site. After that necessary analysis is carried out to determine if the leak is critical. Then it displays logical and organized information. In the 1960s, SCADA systems were used for the first time.
The said market is expected to grow substantially and rapidly over the timeframe of few years owing to the adoption of cloud computing in SCADA system and developing infrastructural activities with respect to smart cities and transportation. The market is also presumed to prosper on the account of burgeoning awareness among the population concerning the benefits of SCADA. The real-time detection of faults in machinery, reduction in the number of defects in the output, a decline in production cost, and many others are assorted advantages of SCADA.
The market has been dissected on the basis of various important parameters such as components, end-user, architecture, and territory. Component-based classification is being done into Human Machine Interface (HMI), Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), Communication Systems, and others. Segments of the end-user category are Electrical power, Oil & Gas, Water & wastewater, Manufacturing, Transportation, Telecommunication, Chemicals, Food & Beverages, Pharmaceuticals, and others. Considering architecture the market is categorized as Hardware, Software, and Services.
Software segment is the most matured segment of the SCADA market. SCADA software architecture includes servers, software programs, and human-machine interface (HMI). Benefits of SCADA servers’ functioning ensure the high level of cybersecurity. The electric power industry has witnessed higher demand for SCADA systems in comparison to the other end-users and will follow the trend in the future.
On the territorial ground, key segments of the market are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Among these, North America is the leading market and anticipated to propel over the coming years. The mounting demand of automation system in numerous industries is the supporting factor for the growth of the market in this region. Reliable and sophisticated power management needs financial and technological investments. Rise in the investments for the said purpose is projected to expedite the market growth. Moreover, Europe is at the second position in the global SCADA market. Germany has emerged as the leading contributor to the progress in this region. The growth is expected to be driven, imminently, by the escalating demand of effective power generation, and advance power, oil & gas, and water & wastewater infrastructures. The Asia Pacific and the Middle East & Africa are also forecasted to flourish in the approaching time.
Regardless of the rapid market growth, some factors such as volatility in the cost of oil & gas and high settling cost of SCADA software would decelerate the growth. On the other hand, constant technological advancements in SCADA because of innovative attempts of the market players have further improved the competence of the system, which is advantageous for the market over the coming years.
Major players of the global SCADA market are ABB, Ltd., Afcon Holdings Group, Emerson Electric, Co., General Electric, Co., Honeywell International, Inc., OMRON Corporation, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation
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