Global Supervisory Control and Data Acquisition (SCADA) Market To Reach $ 14.7 Billion By 2026
SAN FRANCISCO, August 6, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Supervisory control and data acquisition (SCADA) – Trajectory and analysis of the world market”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 15; Posted: May 2021
Executive pool: 44246
Companies: 116 – Actors covered include ABB Ltd; AVEVA group plc; Emerson Electric Co; Detection technologies; General Electric; Hitachi, Ltd; Honeywell International; Iconics Inc; Inductive automation; Mitsubishi Electric factory automation; Omron Company; Ovak Technologies; Progea group; Rockwell Automation, Inc; Schneider Electric; Siemens SA; Toshiba Infrastructure Systems & Solutions Corporation; Willowglen Systems Inc; Electric Yokogawa and others.
Blanket: All major geographies and key segments
Segments: Architecture (Services, Software, Hardware); Component (remote terminal units (RTU), human-machine interface (HMI), programmable logic controllers (PLC), communication systems, other components); Application (oil and gas, transportation, telecommunications, water and wastewater, food and beverage, other applications)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Latin America; Rest of the world.
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Global Supervisory Control and Data Acquisition (SCADA) Market to Reach $ 14.7 billion by 2026
Supervisory Control and Data Acquisition (SCADA) is defined as an industrial automation control system used to remotely control and monitor complex processes and operations in industrial plants and manufacturing plant infrastructure. The growth of the global market is expected to be fueled by the shift to Industry 4.0, the adoption of advanced solutions to manage processes, and the growing demand for emerging platforms including advanced computing and IoT. SCADA supports automation and provides operators with real-time visualization of a process or facility. These systems are increasingly adopted to control and monitor industrial infrastructure and processes in manufacturing plants. The manufacturing sector, particularly in Asia Pacific and North America, will fuel demand for automation tools, paving the way for SCADA. The market is also driven by increased investments to develop smart cities which require data acquisition and supervisory control systems for various aspects such as energy saving, traffic control and traffic management. water and wastewater.
In the midst of the COVID-19 crisis, the global Supervisory Control and Data Acquisition (SCADA) market is estimated to be US $ 11.3 billion in 2020, is expected to reach a revised size of US $ 14.7 billion by 2026, with a CAGR of 4.6% over the analysis period. Services, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.2% to reach 8.2 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the software segment is readjusted to a revised CAGR of 4.2% for the next 7 year period. This segment currently represents a 28.4% share of the global Supervisory Control and Data Acquisition (SCADA) market. The Service Architecture segment is driven by the growing adoption of application specific modification services, such as SCADA system recommendations, restart and re-service assistance, legacy system support , migration services and regulatory compliance services.
The US market is estimated at $ 3 billion in 2021, when China is expected to reach $ 2.4 billion by 2026
The Supervisory Control and Data Acquisition (SCADA) market in the United States is estimated at US $ 3 billion in 2021. The country currently represents a 26.06% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 2.4 billion US dollars during the year 2026, with a CAGR of 6.4% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 3.6% and 4.3% respectively over the period of analysis. In Europe, Germany is expected to grow by around 4% CAGR while the rest of the European market (as defined in the study) will reach 2.6 billion US dollars by 2027. In North America, the SCADA market is expected to experience notable traction in North America thanks to huge investments in Industry 4.0, automation and robotics technologies. The increasing integration of emerging technologies, including AI, IoT and big data analytics, is expected to drive regional adoption of SCADA solutions. The growth of the European market depends on the manufacturing industry and investments in smart grid projects. The SCADA market in Europe is also propelled by government investment in smart city projects. In Asia, the next electricity production projects in countries such as India and China; growing adoption of industrial automation; and the rapid growth in energy demand in these regions is helping fuel growth.
Material segment to be reached $ 2.9 billion by 2026
The SCADA hardware collects and sends data to a computer installed with the SCADA software. The computer processes and presents the data in a timely manner. In the global hardware segment, United States, Canada, Japan, China and Europe will lead to the estimated 3.6% CAGR for this segment. These regional markets representing a combined market size of US $ 1.6 billion in 2020 will reach a projected size of US $ 2.1 billion before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 585.9 million by 2026. Following
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SOURCE Global Industry Analysts, Inc.