Selbyville, Delaware,, Oct. 17, 2022 (GLOBE NEWSWIRE) --
The SCADA market valuation is expected to cross USD 85 billion by 2030, as reported in a research study by Global Market Insights Inc. Robust technological advancements have driven the use of SCADA systems in the utility sector in recent years. Multiple governments worldwide are encouraging utility companies to expand their operations through novel business strategies and advanced facility automation.
Small-scale urban projects in developing economies are also utilizing SCADA technology for monitoring purposes. For instance, in May 2022, the Nashik Municipal Smart City Development Corporation Ltd (NMSCDCL) in India announced plans to install SCADA meters for commercial water connection under a pilot project.
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The SCADA market share from the human-machine interface (HMI) component segment is estimated to witness over 8.5% CAGR between 2022 and 2030. HMI offers a variety of benefits such as resistance to harsh operating conditions such as extreme temperatures, dust, moisture, water, and exposure to toxic chemicals. The components also offer greater durability and reliability. These features make HMI a vital component for use in SCADA systems across different applications.
With respect to application, the report estimates the oil & gas applications segment to hold more than 20% of the market revenue share by 2030. Companies operating in the oil and gas sector are utilizing automated technology to optimize operations and achieve enhanced field visibility. The technology ensures a proactive approach to addressing problems regarding real-time data. It helps organizations make accurate decisions for profit maximization. Increasing concerns associated with managing O&G projects and the pressing need to mitigate instances of leakages will accelerate the need for advanced monitoring solutions like cloud-based SCADA.
Latin America SCADA market size is anticipated to surpass USD 1.5 billion by 2030 on account of sustainable growth in the industrial and manufacturing sectors of the region. SCADA systems are increasingly implemented in a variety of manufacturing facilities including electric components, automobiles, industrial goods, and others.
Manufacturers in Mexico and Brazil and steadily embracing Industry 4.0 and have abundant availability of raw materials. Technology-based automation trends are gaining momentum across the region, offering lucrative scope for the implementation of SCADA technology in manufacturing and power distribution systems.
The competitive landscape of the SCADA market is of inclusive ABB Ltd., Siemens AG, Emerson Electric Co., Rockwell Automation, Inc., Schneider Electric SE, Honeywell International Inc., Yokogawa Electric Corporation, Mitsubishi Electric, Omron Corporation, Toshiba Infrastructure Systems & Solutions Corporation amongst others. These industry leaders are expanding their footprint globally by collaborating with other market participants.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 SCADA industry 3600 synopsis, 2018 - 2030
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2023 – 2030
2.3 Regional trends
2.4 Component trends
2.5 Application trends
Chapter 3 SCADA Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 on SCADA industry
3.3 Impact of Russia-Ukraine war on the SCADA industry
3.4 Evolution of SCADA technology
3.5 Industry ecosystem analysis
3.6 Technological & innovation landscape
3.7 Patent landscape
3.8 Investment portfolio
3.9 Key news &initiatives
3.10 Regulatory landscape
3.11 Industry impact forces
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
