31-Oct-2024
Increased demand of industrial mobility and the adoption industry 4.0 in countries around the world are key drivers of the SCADA market.
The SCADA Market was valued at USD 33.04 billion in 2019 and is predicted to reach USD 58.92 billion by 2030 with a CAGR of 5.4% from 2020-2030.
SCADA stands for Supervisory Control and Data Acquisition. It is a collection of software and hardware systems that enable the organizations to monitor, gather and process real time data and control industrial process remotely or locally. The major factors driving the growth of the SCADA market are the benefits offered by it such as high reliability, improved workplace safety, greater customer satisfaction and improved utilization of resources. However, requirement of high investment for setting up the SCADA system is expected to impede the market growth to some extent during the forecast period. Also, SCADA systems are relatively less reliable than PLCs and DCCs. which hinders the development of the market globally.
Geographically, North America dominates the global SCADA market due to increased adoption of advanced technologies along with government’s willingness to invest a wholesome for the technological innovations and better awareness about the pros and cons of SCADA system among the organizations in this region. However, Asia Pacific is expected to show a steady rise in the SCADA market due to the increased inclination towards cloud-based systems, and implementation of automation as a result of the growing demand for high-quality products, along with the increased production yield.
Browse Key Industry Insights from the report, Supervisory Control and Data Acquisition (SCADA) Market by Offering (Hardware, Software, and Services) and Application (Electrical Power, Oil & Gas, Water & Wastewater, Manufacturing, Transportation, Telecommunication, Chemicals, Food & Beverages, Pharmaceuticals, and Others) - Global Opportunity Analysis and Industry Forecast, 2020-2030
Key Insights:
The SCADA market report is segmented by offerings, applications, and geography.
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