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(Wireless-NewsWire.Com, September 19, 2018 ) The supervisory control and data acquisition market was valued at US$ 9,420.0 million in 2017 and is projected to reach US$ 17,252.8 million by 2026, exhibiting a CAGR of 6.4% over the forecast period, according to Global supervisory control and Data Acquisition Market Report, by Offering (Hardware, Software, and Services), by Component (Human Machine Interface, Communication System, Remote Terminal Unit, and Others), by Application (Oil & Gas, Transportation, Telecommunication, Chemicals, Food & Beverages, Manufacturing, Water & Wastewater Treatment, and Others), published by Coherent Market Insights.
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Supervisory control and data acquisition (SCADA) is implemented for command, control, communication, and surveillance purposes. Increasing demand for continuous maintenance of machinery in various industry verticals such as automotive, oil & gas, energy power, and others, in order to ensure safety of equipment, environment, and employee is driving the SCADA market growth. Moreover, rising demand for data sharing and real-time data monitoring from remote location is fueling growth of SCADA, which in turn reduce the operational cost and enhances the quality of work.
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Key Trends and Analysis of the Global Supervisory Control and Data Acquisition Market:
Among offerings, software segment is expected to grow at highest rate during the forecast period. SACADA software includes human machine interface, servers, and software programs. Furthermore, SCADA servers are used for data collection and handling such as calculation of the process time and backup, alarm checking, polling controllers, and logging and archiving among others.
Among application, oil & gas segment accounted for the largest market share in 2017 and is estimated to retain its dominance over the forecast period. Properties of SCADA such as monitoring and controlling processing of oil from oil wellspring through the network of pipelines to the refinery plants and detect the problems along with real-time data are the key features that boost adoption of SCADA in oil & gas industry.
Among components, remote terminal unit segment accounted for highest market share in SCADA market in 2017. The features such as ability to allow efficient decision making for the operators, deep sea exploration and extraction of shale gas in the oil & gas industry and others are driving demand for SCADA among various industry verticals.
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Key Takeaways of the Market:
According to Coherent Market Insights’ analysis, North America region is the largest consumer of SCADA and it is expected to witness moderate growth over forecast period, owing to rising demand for SCADA among various industry verticals such as oil & gas, pharmaceuticals, automotive and others, in order to improve performance efficiency, process data for smarter decision making, identify the root cause from remote location and thereby reduce manpower & human error and reduction in overall operational cost. For instance, in 2017, U.S. car production reached to 73.4 million units and commercial vehicles reached to 23.8 million units up from 72.1 million units and 22.8 million units in 2016. Hence, growing production of vehicles is fueling growth of automotive industry which in turn drives the demand of SCADA in automotive industry.
According to Coherent Market Insights’ research, China is one of the leading countries in terms of market share in Asia Pacific market. Asia Pacific is expected to show good growth over the forecast period, owing to rising number of industries, rising need for automated industries, and increasing living standards. For instance, Industrial sector contributed 40.5% to the GDP of China in 2017 up from 39.8% in year 2016. Thus, growing industrial sector is fueling the market growth.
Some of the major players operating in the SCADA market include Alstom, IBM Corporation, Honeywell International, Hitachi, Ltd, Emerson Electric Co., ABB Ltd, Rockwell Automation, JFE Engineering Corporation, Schneider Electric and Mitsubishi Electric Corporation.
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