Market Overview –
The MRFR study predicts that now the global supervisory control and data acquisition market systems will expand at a CAGR of 7% over the next few years. Until 2030, experts predict that the market will be worth around $15 billion. Supervisory Control and Data Acquisition describes what this system does. The increasing need for industrial mobility solutions is one factor propelling the industry forward. A number of sectors have adoptee automate techniques to keep tabs on manufacturing. The SCADA system has been widely adopter by industries as a means of defending their infrastructure from cyberattacks.
In order to improve cyber security, SCADA has standardize the machinery use in operational technology. In the years to come, the software industry as a whole is expects to expand slowly. Companies’ investments in SCADA systems are also a factor in the expansion.
The oil and gas sector has been hit hard by the sharp drop in production. The SCADA Market could be stunts by the low WNS adoption rate. The Coronavirus pandemic also had a significant effect. Despite these challenges and restrainers, the market is expects to expand again in the coming years.
It is expects that Asia-Pacific would account for the highest share of the SCADA market over the anticipate time frame. China, India, Japan, and South Korea, among others, all boast a sizable number of enterprises and promising growth prospects, which are contributing significantly to the market’s expansion. North America will overtake Europe as the second largest market after that.
COVID-19 Analysis –
The Coronavirus pandemic severely impacte many global sectors. Large-scale economic damage was done all around the world as a result of the lockdown measures. Because of the disease’s impact on the healthcare industry, the market as a whole collapse .Thus, the worldwide SCADA industry was also significantly impacte. Several businesses were wipe out as demand for SCADA systems plummets. Massive disruptions occurre in the production of components and the supply chain as well. If the pandemic can be container, the economy will recover quickly in the years to come.
Market Dynamics –
Power plants, oil and gas refineries, transportation, water and waste control, and telecommunications are just few of the many industries that put SCADA to good use. The global SCADA market has been driven by factors such as the rising popularity of cloud computing, the soaring demand for industrial mobility, and the widespread acceptance of industry 4.0 in nations all over the world.
The introduction of smart cities and the rising use of smart gadgets are also anticipate to propel growth in the SCADA industry. Growing cyber-attacks and prohibitive costs may slow the SCADA business. Over the projection period, the SCADA market is predicter to benefit from rising R&D spending and widespread use of wireless sensor networks, both of which are projects to generate profitable prospects.
Market Analysis and Size –
There has been a significant uptick in the use of SCADA systems in industry in recent years due to their usefulness in a variety of contexts, including efficiency maintenance, problem reporting, and data processing for better decision making. To put it another way, they help reduce downtime.
SCADA systems are becoming increasingly useful as a result of ongoing development by industry participants. In 2021, the global market for supervisory control and data acquisition (SCADA) was worth $9.30 billion. By 2029, that number is predicter to rise to $17.34 billion, for a compound annual growth rate (CAGR) of 8.10 percent. Given the widespread need for software, the service provisioning sector is predicter to expand rapidly. The Data Bridge Market Research team has compile a comprehensive market study that delves deeply into the industry’s experts, import/export data, pricing, production, consumption, and pestle analysis.
Recent Developments –
One of the leading providers of plant analytics, IIoT, HMI, and SCADA solutions, Progea Group (Italy) was acquire by Emerson Electric in October 2020. By acquiring Progea, Emerson is able to expand its embedder software and control offerings with the company’s expertise in analytics, industrial visualisation, and IIoT.
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Schneider Electric release the next generation of EcoStruxure Power in August 2020. This Internet of Things (IoT)-enable platform digitally optimizes and simplifies electrical distribution networks to make them safer, smarter, and faster. Avnet Data Security (Israel), a provider of cybersecurity services, was bought by Rockwell Automation in January 2020.
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Competitive Landscape –
The competitive landscape of the supervisory control and data acquisition (SCADA) industry is broken down each player in great detail. Information such as the company’s history, strengths and weaknesses, manufacturing capabilities, production sites, product launches, product ranges, and application domination are all provide.
Select Competitors –
AVEVA Group plc
Emerson Electric Co
Mitsubishi Electric Factory Automation
Rockwell Automation, Inc
Toshiba Infrastructure Systems & Solutions Corporation
Willowglen Systems Inc
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Oil & Gas
Automotive & Transportation
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