SCADA Market Size

SCADA Market Size

SCADA Market size valued at USD 35 billion in 2021 and is projected to expand at around 10% CAGR from 2022 to 2030. The use of automated technologies in the oil & gas sector will augment the business growth.

Robust demand for oil and gas will accelerate the need for SCADA to automate and control production processes. The software is used across a wide range of applications in downstream, midstream, and upstream oil and gas sector applications. With surging demand for energy, O&G companies are likely to demand advanced software solutions to meet production targets. According to the U.S. Energy Information Administration (EIA), the U.S. reported total crude oil production of 365.78 million barrels per day in July 2022. High productivity needs and data collection requirements across remote sites in the upstream applications will fuel the use of SCADA.

High initial implementation costs associated with SCADA systems could hamper industry growth. SCADA systems for applications such as oil & gas field operations, power grids, and water supply systems are mainly customer-owned. As a result, customers end up spending a substantial amount of money on the installation and maintenance of these systems. However, new technological advancements and increasing efforts to develop affordable SCADA solutions will pave the way for its use over the coming years.