Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
SCADA stands for Supervisory Control and Data Acquisition which is the software communication system that helps control industrial processes, which is the gathering of data in real time from remote locations in order to control equipment and conditions. SCADA can be used to manage almost any type of industrial process. SCADA system also includes hardware and software components. SCADA systems also record and log all events for reporting process status and issues. SCADA applications warn when conditions become hazardous by sounding alarms. The hardware gathers and feeds data into field controller systems, which forward the data to other systems that process and present it to a human-machine interface (HMI) in a timely manner. In addition, other components such as Sensors and actuators, SCADA field controllers SCADA supervisory computers, HMI software, Communication infrastructure, and others.
The increasing industrial automation in various applications will drive the market. SCADA systems are crucial for industrial organizations since they help to maintain efficiency, process data for smarter decisions, and communicate system issues to help mitigate downtime. In addition, the growing urbanization in developing economies, and the emergence of smart buildings, which is estimated to bolster the market's overall growth. The increasing number of internet users and growing adoption of smart devices will propel the market demand. The integration with big data analytics and cloud computing offering enhanced services to various industries further influence the market. These are driving factors that contributed to the market growth.
Many industrial organizations rely on a Supervisory Control and Data Acquisition (SCADA) system will drive market growth. It helps operators access actionable data and manage equipment. SCADA is a powerful control system that is designed to collect, analyze, and visualize data from industrial equipment. In addition, the companies such as water management and water treatment systems, oil and gas facilities, and manufacturing sites rely on the SCADA system to increase operational efficiency. The companies rely on precise machine control for monitoring equipment and processes virtually eliminating human error. More importantly, it automates common, tedious, routine tasks once performed by a human, which further increases productivity. These factors are attributed to the market expansion during the forecast period.
The lack of significant initial investment is the major limiting factor for the market and for the SCADA remote monitoring systems. The system is also vulnerable to how many remote sites you have and what you need and sometimes, technicians have a hard time trying to justify the need for a SCADA system, since these systems don't actually generate any kind of profit. In addition, operating and implementing SCADA system is expensive and impersonal and many companies don't afford to send all their technicians to training courses for SCADA system. The lack of training and tech support and operating SCADA system without the proper knowledge defeats the purpose of having visibility and practical control over your remote sites. These are some restraining factors in the market.
The SCADA System market is facing the challenge of continuous threats of cyberattacks and other malfunctions in the system will inhibit the market growth and act as a severe challenge. The increase in remote access and internet connectivity will result in a number of cyber threats against SCADA. In extreme cases, the failure to protect SCADA from such attacks threatens human lives. Another challenge is the lack of requires skilled operators, analysts, and programmers to maintain the SCADA system as the SCADA system is complex. These are some challenges in the market.
The report provides an in-depth analysis of the global SCADA System market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for various SCADA systems in various applications and the increasing industrial automation for monitoring the data and operation to increase production efficiency is expected to propel growth at a specific CAGR from 2021-2028.
The global SCADA System market comprises different market segments like Architecture, Sector and geography.
By architecture, SCADA System includes key segments of
The hardware segment is the dominant segment in the SCADA System market. The hardware is crucial for monitoring and control of industrial equipment. SCADA system consists of communication equipment, network interfaces, input/ output devices and software and enables to operation of industrial processes remotely or locally, monitoring and processing, real-time data gathering. In addition, it also enables direct interaction with devices like valves, motors, pumps, valves using Human Machine Interface (HMI) software. Therefore, the hardware segment is likely to lead the market over the forecast period.
The SCADA System market is divided into sectors such as
The oil & gas segment is anticipated to gain a major market share in the future. The oil and gas upstream industry includes companies that search for deposits of oil or gas exploration and then its extraction through drilling or other methods. Oil and gas firms deal primarily with the exploration and initial production stages of the oil and gas industry that rely on the SCADA system for successful operation and monitoring data. In the oil and gas upstream sector, its role often is stereotyped as being largely in support of remote data transmission. SCADA’s ability to collect data at remote oil and gas sites reduces personnel visits and leads to route and dispatch optimization and is hence largely used in the upstream oil and gas industry. Therefore, the oil and gas industry is expected to dominate the market growth during the forecast period.
The SCADA System market is divided into components such as
Remote Terminal Units is accounted for major market share during the forecast period. It is very important and vital component in SCADA system. Remote Terminal Unit (RTU) in SCADA systems is a microprocessor-based electronic device present at geographically distributed remote locations in order to facilitate communication of various devices within the distributed SCADA system. It also enables communication by remote site of the SCADA system is to send all the collected data and information to the central station with the help of sensors, monitors, production processes, etc. so that it can be stored and monitored and hence it is very important in SCADA system and these factors are likely contributed to the market growth during the forecast period.
The global SCADA System market is studied for the following region
Asia Pacific is expected to dominate the market during the forecast period. The Asia Pacific region is known as an economic powerhouse for various industries. The increasing rapid urbanization and growing industrialization will seek the demand for industrial automation will drive the region’s growth. In addition, the increasing demand for automation and digitalization in industries such as power generation, water management, and manufacturing will boost market growth during the forecast period. China is the major country in the market over the forecast period. The increasing power generation and other developing industries will drive the market growth in the country.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the global SCADA System market. In addition, a complete analysis of changes in the global SCADA System market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of a pandemic on global economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market.
The sudden economic breakdown caused by the COVID pandemic has caused certain disruptions in every industry. The lockdown restrictions due to the widespread COVID had caused the traveling restriction and closing of food and restaurant to shut down which resulted in the declining demand for oil and gas which has had a ripple impact on the oil and gas industry which also has an impact on SCADA System. Despite the decline in the demand, in the wake of COVID-19 many upstream industries like critical infrastructure like pipelines, power generation and transmission equipment, and chemical processing facilities, which are often highly interconnected and mutually dependent were focusing on automation and operational and technological personnel are working with understaffed teams and new demands on resources, leaving SCADA potentially vulnerable. Cybercriminals are targeting critical infrastructure to take advantage of this disruption in normal business operations. Industries facing increased demand during the pandemic have boosted production and will spent money on equipment and processes controlled by SCADA and these industries will need engineers and technicians to design those systems. Post-COVID the market will be seen a new surge due to the increasing demand from other industries as well and will show positive growth in the coming period.
The SCADA System market has leading operating players that are majorly focused on expanding the global growth of the SCADA System industry with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the SCADA System sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
March 2023: ABB India, is a subsidiary of ABB Ltd has announced the 130-kilometer Indo-Bangla Friendship Pipeline (IBFPL), through integrated automation and control solutions.
Oct 2021: Emerson Electric Co has expanded its industrial automation control and software footprint with the acquisition of Progea Group. Emerson’s embedded software and control portfolio for manufacturing, infrastructure, and building automation applications support Progea’s capabilities in analytics, industrial visualization, and IIoT.
The global SCADA System Market is segmented into architecture, sector and component, by architecture, the SCADA System includes key segments of Hardware, Software, and Services. Based on sector, the market is segmented into upstream, midstream, and downstream. By components, the market is divided into human machine interface, communication systems, programmable logic controller, remote terminal units and others. The global SCADA System market is studied for the following regions: North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The North American region is projected to lead the market during the forecast period.
| Market Sizing for Year: | 2019-2028 |
| Base Year: | 2021 |
| Forecast Period: | 2022-2028 |
| Value: | USD
Million |
| Market Segment studied: | Architecture Sector Component |
| Market Players and its Competitors: | Emerson Electric Co. Schneider Electric SE Honeywell International, Inc Yokogawa Electric Corporation Iconics Inc ABB Ltd Rockwell Automation, Inc. |
FREQUENTLY ASKED QUESTIONS
What are the drivers for the SCADA System market?
The increasing industrial automation in various applications will drive the market.
Which is the leading Application segment for the SCADA System market?
The oil & Gas segment has accounted for the major market share, and is expected to witness growth at the highest pace during the forecast period.
Which region is gaining a majority of market share during the forecast period (2021-2028)?
Asia Pacific is expected to gain a major market share during the forecast period (2021-2028).
