Global SCADA Market Report 2022: Accelerating Deployment of AI and IoT Across Manufacturing Industries Bolsters Sector
Global SCADA Market
Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The "SCADA Market by Offering (Hardware, Software, Services), Component (Programmable Logic Controller, Remote Terminal Unit, Human-Machine Interface), End User (Process Industries, Discrete Manufacturing, Utilities) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global SCADA market size is anticipated to grow from USD 9.8 billion in 2022 to USD 14.2 billion by 2027, at a CAGR of 7.8% from 2022 to 2027. The growing significance of real-time data for process analysis and predictive maintenance and the rising adoption of IoT in manufacturing industries are key factors boosting the growth of the SCADA market.
RTU component to account for the largest share of the SCADA market in 2022.
RTU is an electronic device and one of the core components of SCADA systems. It is used for collecting data, coding it into a transmittable format, and transferring it to the main system. Several RTUs are put in a SCADA system for this purpose. Deep-sea exploration and extraction, along with shale gas exploration, contribute to the rising demand for RTUs, as oil & gas is the major end-user industry of SCADA systems.
Services segment to capture the largest market share of SCADA in 2022.
A SCADA system requires regular maintenance and modification services that primarily include providing increased security and the latest updates related to the SCADA system. At present, there is a high demand for application-specific modification services, which has resulted in an increased number of services, including SCADA system recommendations, regulatory compliance, re-commissioning or restart assistance, and legacy system support and migration services. Only a few countries in the market have defined regulations related to cybersecurity while deploying SCADA systems. Oil & gas is considered as one of the most-affected industries due to cyber threats. Hence, cybersecurity services are the highest priority in this industry.
Asia Pacific is expected to grow at the highest CAGR in the SCADA market during 2022-2027.
Asia Pacific is expected to grow at the highest CAGR in the SCADA market during the forecast period. Growing population, rising standards of living, and developing economies have led to rising demand for energy. Automation is increasing in the Asia Pacific because of the rising necessity for high-quality products, along with the increased production rates. The increasing energy demand would lead to the development of the energy sector, including the oil & gas and power industries. This, in turn, would generate the demand for automation products, including SCADA systems, in the Asia Pacific region.
Market Dynamics
Drivers
Surging Adoption of Industry 4.0 in Manufacturing and Process Industries
Accelerating Deployment of AI and IoT Across Manufacturing Industries
Rising Implementation of Industrial Mobility Solutions
Growing Number of Smart City Projects
Restraints
High Installation and Maintenance Costs of SCADA Systems
Declining Oil Prices
Opportunities
Rapid Developments in Wireless Sensor Networks
Transition from On-Premises to Cloud-Based SCADA Systems
Integration of SCADA Systems with Big Data Analytics
Report Attribute | Details |
No. of Pages | 246 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $9.8 Billion |
Forecasted Market Value (USD) by 2027 | $14.2 Billion |
Compound Annual Growth Rate | 7.8% |
Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Types, Deployment Models, and Cybersecurity-Related Threats and Countermeasures
7 Important Features of the Latest SCADA Systems
8 SCADA Market, by Offering
9 SCADA Market, by Component
10 SCADA Market, by End-user
11 SCADA Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent Market
15 Appendix
Companies Mentioned
ABB
Capula
Copa-Data
Data Flow Systems
Detechtion Technologies
Elynx Technologies
Emerson Electric
EMR Integrated Solutions
General Electric
Globalogix
Honeywell International
Iconics
Inductive Automation
JFE Engineering Corporation
Mitsubishi Electric
Omron
Ovak Technologies
Pilz GmbH & Co. Kg
Rockwell Automation
Schneider Electric
Siemens
Sprecher Automation
Survalent
Willowglen Systems
Yokogawa Electric
For more information about this report visit https://www.researchandmarkets.com/r/r7lh8p
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