SCADA Market 2023-2032; Growth Forecast & Industry Share Report

 

As per a recent research report, Global SCADA Market share is likely to surpass USD 85 billion valuation by 2030

The global SCADA market is slated to register promising growth over 2030. SCADA (Supervisory Control and Data Acquisition) have gained popularity since the advent of technology-based trends such as digitization and virtualization of different manufacturing operations. As industries transition from labor-intensive to tech-centric activities, advanced control systems like SCADA are being rapidly deployed.

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The technology is faster and easier to operate unlike some of the complex hardware systems existing today. SCADA systems can effectively and accurately operate multiple pieces of hardware setups with the help of user-friendly HMI software. These technologies also allow manufacturers to cut costs through automation and reduced training needs.

SCADA system companies are focusing on launching new software programs and tools to address the growing demand for automated technologies. In March 2021, Mitsubishi Electric extended its portfolio of SCADA products in EMEA with the launch of two new software solutions under the series name GENESIS64. The tools will each cater to small production lines and large-scale monitoring needs of utility sectors, factories, and buildings.

Energy transition has further accelerated investments and acquisitions of SCADA providers. For instance, in April 2022, SCADA International announced an investment from Magnesium Capital LLP, a London-based energy transition investor. The acquisition will enable both companies to provide next-generation SCADA and control solutions for the renewable sector.

The SCADA industry is segregated into component, application, and region.

Based on component, the market is fragmented into remote terminal units (RTUs), human-machine interface (HMI), programmable logic controller (PLC), and others. In 2021, the remote terminal units (RTUs) segment accounted for more than 41% revenue share of the SCADA industry.

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RTUs are extensively incorporated to produce a communication protocol that can supply information into SCADA systems by converting the electronic signals generated by field instrumentation. These components offer a wide variety of benefits including advanced data processing capabilities and modular architecture that enables flexible functions.

In terms of application, the industry is categorized into food & beverage, transportation, chemical & pharmaceutical, water & sewage, oil & gas, utility, and manufacturing. Among these, the SCADA market revenue share from transportation applications is poised to reach over USD 1 billion by 2030.

Middle East & Africa SCADA market size is projected to register over 4.4% CAGR between 2022-2030 driven by the large-scale deployment of these systems in the oil and gas sector. The adoption of SCADA solutions by utility distribution and wastewater management companies in MEA has also picked up the pace. For instance, the National Water Company (NWC) of Saudi Arabia has extensively deployed PLC-based SCADA systems across several water & wastewater treatment plants situated in residential areas.

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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.

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