The global of supervisory control and data acquisition market has gained significant momentum in the recent times. The rising awareness among consumers regarding the benefits of SCADA, such as the real-time detection of faults in machinery, reduction in the amount of defects in the output, decline in production cost, and various other advantages it offers to production processes, is boosting this market substantially. The increasing deployment of SCADA systems in the electrical and the oil and gas sectors to reduce losses and optimize production is also adding to the growth of this market significantly.
In terms of revenue, the global SCADA market was valued at US$25.56 bn in 2015. Estimated to expand at a CAGR of 5.20% from 2016 to 2024, the revenues in this market will touch US$40.18 bn by the end of 2024.
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Demand for SCADA Systems to Remain High from Electrical Power Industry
The electrical power, oil and gas, manufacturing, water and wastewater, transportation, chemicals, food and beverages, telecommunication, and the pharmaceuticals industries are key end users of SCADA systems across the world. The electrical power industry has been registering a higher demand for these systems than other end users and is likely to remain doing so over the forthcoming years.
Apart from this, the ability of SCADA systems to restore power post outrage, re-route power from excess capacity areas to areas approaching overload, collect historical data for trend analysis, and decrease manual labor by relocating affected sections remotely, is also projected to keep the demand for these systems in the electrical power industry high in the years to come.
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North America to Maintain Dominance
Regionally, North America, Asia Pacific, Europe, the Middle East and Africa, and South America are considered as the main segments of the worldwide market for SCADA. North America, among these, led the global market in 2015 with a share of 33.6%.
ABB Ltd., Honeywell International Inc., Emerson Electric Co., Rockwell Automation Inc., Siemens AG, OMRON Corp., General Electric Co., Yokogawa Electric Corp., Schneider Electric SE, and Afcon Holdings Group are some of the leading players in the global SCADA market.