The Global SCADA Market size was valued at USD 33.04 billion in 2019 and is predicted to reach USD 58.92 billion by 2030 with a CAGR of 5.4% from 2020-2030.
SCADA is supervisory control and data acquisition through a system of software and hardware components. SCADA allows organizations to gather information, process this information on real-time, and control industrial processes from a remote location. It assists users to interact with the linked devices such as valves, pumps, and motors through a human machine interface and provide required command. It enhances the work efficiency, helps in taking smarter decisions, mitigate downtime, and record the various events in the system for future reference.
Market Dynamics and Trends:
SCADA is widely used in many applications such as power plants, oil and gas refining, transportation, water and waste control and telecommunications. Also, increasing adoption of cloud computing, surging demand of industrial mobility and the adoption industry 4.0 in countries around the world have been driving the global SCADA market and are expected to accelerate the growth over the forecast period.
Other factors include increasing adoption of smart devices and introduction of smart cities, which are further expected to expand the SCADA market. However, increasing incidences of cyber-attacks and high investments are expected to inhibit the growth of SCADA market. Moreover, increase in research and development activities coupled with the increased adoption of wireless sensor networks are expected to create lucrative opportunities in the SCADA market over the forecast period.
The global SCADA market share is analyzed on the basis of offerings, applications and geography. On the basis of offerings, the market is divided into Hardware, Software, and Services. On the basis of application, the market is divided into Electrical Power, Oil & Gas, Water & Wastewater, Manufacturing, Transportation, Telecommunication, Chemicals, Food & Beverages, Pharmaceuticals, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America holds the lion share of the market and is anticipated to continue holding the largest market share during the forecast period. This is attributable to factors such as increased adoption of advanced technologies, growing number of smart cities and higher adoption of industrial automation system.
However, Asia Pacific is also expected to show tremendous growth over the forecast period and gradual increase in market size owing to the increased inclination towards cloud-based systems, and implementation of automation because of the growing demand for high-quality products, along with the increased production yield. The demand for process automation and instrumentation is very high in this region owing to the increasing investment in power transmission and distribution especially in countries like India, China, Japan and South Korea.
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