Pune, India, July, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global SCADA Market Research Report.
The global SCADA market is eyeing high to scale USD 21.57 billion during the forecast period (2018-2023), reports Market Research Future (MRFR) in a minutely researched report. In recent years, the global SCADA market is experiencing a lot of traction owing to its reliable utilization of resources from any location which can influence the market in growing at a stellar CAGR of 9.80% over the forecast period.
Drivers and Restraints:
SCADA technology has proven itself beneficial for a number of industries requiring real-time data for better operational methods and quicker solutions. It provides detailed reports of the resources to the person-in-charge while it is on the move. This ensures predictive information for supervisors or managers and empowers them with a quicker solution for countering any hindrance in the operational aspect of the company.
SCADA plays a pivotal role in the digitization process of various industries to upgrade them to Industry 4.0 standards. Hence, the market cannot be plateaued in coming years as the requirement for SCADA across industry verticals will keep the market productive. Furthermore, its association with the Internet-of-Things (IoT) have made it a business imperative. It creates a network with IoT making accessing data easier by providing real-time information. SCADA monitors and controls whereas, IoT takes charge of the maintenance of data. Its implementation has become requisite for companies considering rapid growth.
Big data analytics has penetrated multiple spheres of diverse industry verticals significantly, and its efficiency depends on proper implementation of SCADA. Real-time data which is necessary for big data analytics for making a sound prediction and accentuate preventive measures for smoother operation can only be accessed via SCADA. The result is a sophisticated data management which secures business operation.
However, high setup and functional cost have forced many companies to defer their decision of implementing this technology. In addition, a data breach is a serious threat that can make companies vulnerable to cybercrime.
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The global SCADA market can be segmented by component, deployment, and end-user.
Based on component, the market can segmented into hardware, software, and solutions & services. Hardware section generated the maximum revenue in 2017 and can expect a stellar CAGR of 9.18% during the forecast period. Meanwhile, the software section is gaining momentum and anticipated to grow with an impressive CAGR of 11.37% during the same period.
Deployment-wise the market includes on-cloud and on-premise. The on-premise segment is currently leading the market and can grow with a CAGR of 9.10% during the review period. However, on-cloud is showing potential and can expand with a CAGR of 11.45%.
Based on end-users, the market comprises oil & gas, water & waste management, food & beverage, energy & power, manufacturing, telecommunication, chemical, pharmaceutical and others. Oil & gas is now ahead of the rest and can register a CAGR of 9.29% during the assessment period. On the other hand, various factors have developed water & waste management sub-segment which can help it to register the fastest CAGR of 12.90%.
Region-wise, the global SCADA market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
The APAC is currently leading the market owing to the burgeoning market demand in China. The region has generated almost USD 4.84 billion in 2017 and is expecting a staggering CAGR of 11.48% during the review period. Presence of some major players of SCADA market in China which has helped the country generate USD 2,194 million in 2017. Japan’s significant contribution depends on companies such as Yokogawa and Mitsubishi. Meanwhile, India is showing potential and can expect a CAGR of 13.32% during the forecast period.
North America is the second largest market owing to various end-user industries incorporating SCADA which enables them to reduce the chance of error occurrence which is only possible with real-time data. Mexico and Canada can also give the region a thrust owing to their growing interest in incorporating SCADA in diverse industries.
Riding on favorable factors, SCADA now has a competitive market where regular innovations and implementations are helping the market to grow. For instance, Advantech’s IIoT iAutomation Group has launched WebAccess/SCADA 8.3 and the new WebAccess Dashboard 2.0, a new mobile application, and other added features including improved MQTT (Message Queuing Telemetry Transport) protocol and driver support to provide the buyers a user-friendly experience.
Key players forming the global SCADA market are Schneider Electric SE, Checkpoint Software Technologies Ltd., Rockwell Automation, Emerson Electric Corporation, Siemens AG, Honeywell Automation, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Omron Corporation, General Electric, Radiflow, and others.