SCADA Market size is set to reach USD 50 billion by 2026, according to a new research report by Global Market Insights Inc.
SCADA systems provide automation & control and process & monitor real-time data, allowing enterprises to enhance their operational reliability. The system eases workforce requirement by improving overall Quality of Service (QoS) along with reducing operational cost and boosting customer and employee safety.
The market growth is attributed to rapid adoption of Industry 4.0 in process industries. In addition, growing demand from enterprises for industrial SCADA to process data for smarter decisions and enhance communication systems to reduce downtime is driving the supervisory control and data acquisition market. Technological advancements, such as IoT and edge computing, are driving innovations in SCADA systems, contributing to its rapid adoption in the manufacturing sector.
PLCs enhance system performance and intelligence
The Programmable Logic Controllers (PLCs) segment was estimated to hold a major market share in 2019 and is anticipated to maintain its market share. The growth is attributed to its unique design and ability to operate in harsh environments such as factory floor. They enhance plant safety, improve operational efficiency, and reduce labor costs. PLCs deploy a proprietary OS architecture, while some RTUs use inefficient non-RTOS architectures.
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Development of urban infrastructure will propel the transportation segment
The transportation segment is estimated to grow during the forecast timeline. Growing investments in infrastructural development, such as smart transportation and smart cities, across the globe are anticipated to create huge demand for supervisory control and data acquisition (SCADA) market. The urban infrastructure that includes water supply, electricity grid, and traffic control is dependent on SCADA systems. The software controls the functions and flows of these structures.
Governments in several countries are investing in new transportation projects, which will contribute to market growth. In March 2019, European Commission (EC) proposed to invest USD 475 million in 69 key transportation projects, which will create a greener, smarter, and safer transportation infrastructure across the continent. In addition, this will enhance mobility for both businesses and citizens.
Browse key industry insights spread across 160 pages with 117market data tables and 23 figures & charts from the report, “SCADA Market Size By Component (Human-Machine Interface [HMI], Programmable Logic Controller [PLC], Remote Terminal Units [RTU]), By Application (Chemical & Pharmaceuticals, Food & Beverage, Manufacturing, Oil & Gas, Transportation, Utility, Water & Sewage), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing Asia Pacific government focus on the development of the manufacturing industry
The implementation of several government initiatives for supporting innovations in the manufacturing industry will drive supervisory control and data acquisition market growth in Asia Pacific.
The Chinese government has introduced the ‘Made in China 2025’ program, with an investment of approximately USD 3 billion in the advanced manufacturing sector. Additionally, China is providing significant financial resources to support the technological upgrading of Chinese enterprises, driving the demand for various technologies such as industrial software, sensor networks, etc.
Industry players are adopting collaboration strategies to remain competitive in the market
The companies are making investments in R&D activities to innovate new products. For instance, in April 2019, ABB Ltd. introduced asset monitoring solutions for data analysis, presentation, and alerts & logging. Players are also adopting several business expansion strategies such as mergers & acquisitions and partnerships & collaborations.
For instance, in May 2019, Mitsubishi Electric Corporation acquired ICONICS, Inc., a SCADA-focused company based in the U.S. to enhance its SCADA product lineup and increase the customer base.
Major industry players operating in the SCADA market include Toshiba Infrastructure Systems & Solutions Corporation., Partita IVA Mitsubishi Electric, Yokogawa Electric Corporation, Omron Corporation, Schneider Electric SE, Honeywell International Inc., Siemens AG, Rockwell Automation, Inc, Emerson Electric Co., and ABB Ltd.
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