Pune, India, June 13, 2023 (GLOBE NEWSWIRE) -- The global SCADA market size was worth USD 35.44 billion in 2022. The market value is slated to rise from USD 39.32 billion in 2023 to USD 65.86 billion by 2030 at 7.6% CAGR during the forecast period. The rise can be attributed to the growing product usage for the effective monitoring of unmanned sites. Fortune Business Insights™ cites this information in its research report, titled “SCADA Market, 2023-2030”.
Key Industry Development:
Emerson inked an agreement for the acquisition of Progea Group. The deal will help the company enhance its automation and software control across the industrial sector.
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List of Key Players Mentioned in the Report:
- ABB Ltd. (Switzerland)
- Schneider Electric (France)
- Rockwell Automation (U.S.)
- Emerson Electric Co. (U.S.)
- Honeywell International (U.S.)
- Siemens AG (Germany)
- Omron Corporation (Japan)
- Toshiba Infrastructure Systems and Solutions Corporation (Japan)
- Yokogawa Electric Corporation (Japan)
- Mitsubishi Electric (Japan)
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023-2030 CAGR | 7.6% |
| 2030 Value Projection | USD 65.86 billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 35.44 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 140 |
| Segments covered | By Offerings, By Component, By Application, By Region |
| Growth Drivers | Rise in Compliance of SCADA in Portable Equipment To Promote Market Sales |
Segments:
Services Segment to Gain Traction Driven by Growing Tech Integration Across Various Applications
By offerings, the market is fragmented into software, hardware, and services. The services segment is slated to exhibit lucrative growth throughout the forecast period. This is due to the rising demand for seamless and faster real time monitoring.
Remote Terminal Unit (RTU) to Register Appreciable Growth Owing to Increasing Adoption in Automation Facilities
Based on component, the market is segmented into human-machine interface (HMI), remote terminal unit (RTU), programmable logic controller (PLC), and others. The remote terminal unit segment is estimated to depict substantial growth throughout the projected period. The surge can be credited to the increasing accuracy of sensors.
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Electric Utilities to Emerge Prominent Driven by Increasing Usage in Data Acquisition
Based on application, the market is fragmented into electric utilities, industrial manufacturing, automotive and transportation, oil and gas, telecommunication, and others. The electric utilities segment is expected to register appreciable expansion over the forecast period. The rise can be credited to the growing usage of the technology for data acquisition and incorporating supervisory control.
Competitive Landscape:
Leading SCADA Companies Enter Partnership Agreements to Expand Product Reach
Major players ink collaborative agreements and partnership deals for the consolidation of their industry position. Some of the other steps comprise mergers, acquisitions, and the development of new products. Additional initiatives include rising participation in trade conferences and an increase in research activities.
Report Coverage:
The report provides a comprehensive coverage of the major factors boosting the global business landscape over the coming years. It further gives an insight into the key trends impelling the industry scenario across numerous regions. Some of the other aspects comprise the pivotal steps taken by leading industry participants for the consolidation of market position.
Maket Drivers and Restraints:
Escalating Compliance of SCADA to Impel Industry Expansion
One of the key factors propelling industry growth is the increasing product usage for monitoring and controlling the operations of industrial processes. Additional aspect favoring SCADA market growth is the soaring demand for wireless networking and automation.
However, the industry expansion may be hindered due to the high initial investments in the initial stage of the project.
COVID-19 Impact:
Industry Growth Impacted Owing to Shutdown of Manufacturing Facilities
The coronavirus pandemic led to the shutdown of industrial facilities, affecting industry expansion in the short term. However, in the long-term, the pandemic is expected to lead to positive outcomes driven by the escalating trend of remote working and the growing inclination of companies toward the reduction of human workforce.
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Regional Insights:
North America to Lead Driven by Strong Presence of Industry Players
North America SCADA market share is expected to register considerable growth throughout the study period. The surge can be credited to the robust presence of major players in the region.
The Asia Pacific market is poised to record appreciable expansion over the forecast period. The rise can be attributed to the increasing development of manufacturing clusters across developing economies.
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global SCADA Key Players Market Share/Ranking, 2022
- Global SCADA Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Offerings
- Hardware
- Software
- Services
- By Component (USD)
- Programmable Logic Controller (PLC)
- Remote Terminal Unit (RTU)
- Human-Machine Interface (HMI)
- Others
- By Application (USD)
- Industrial Manufacturing
- Electric Utilities
- Oil and Gas
- Telecommunication
- Automotive and Transportation
- Others
- By Country (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America SCADA Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Offerings
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