Supervisory control and data acquisition (SCADA) Market to Reach $26.6 billion, Globally, by 2032 at 11.2% CAGR: Allied Market Research
Thursday, June 15, 2023
Increase in penetration of mobile SCADA system and surging trend of industry 4.0 across manufacturing and processing industries is boosting the growth of the global market. In addition, Rapid growth in utilization of cloud computing technology positively impacts growth of the SCADA market.
PORTLAND, Ore., June 7, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Supervisory control and data acquisition (SCADA) Market by Offering (Hardware, Software and Services), Component (Human Machine Interface (HMI), Remote Terminal Unit (RTU), Programmable Logic Controller (PLC), Communication System, and Others), Deployment Type (On-Premises and Cloud), and End-User (Process Industries, Discrete Manufacturing, and Utilities): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global Supervisory control and data acquisition (SCADA) industry generated $9.5 billion in 2022 and is estimated to reach $26.6 billion by 2032, exhibiting a CAGR of 11.2% from 2023 to 2032.
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Prime determinants of growth
Increase in penetration of mobile SCADA system and surging trend of industry 4.0 across manufacturing and processing industries is boosting the growth of the global market. In addition, Rapid growth in utilization of cloud computing technology positively impacts growth of the SCADA market. However, huge investment costs for insertion and sustentation of SCADA systems and escalating cyberattacks in the industrial networks are hampering the market growth. On the contrary, increasing advancements in wireless sensor networks is expected to offer remunerative opportunities for expansion of the SCADA market during the forecast period.
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Report coverage & details:
Report Coverage
Details
Forecast Period
2023-2032
Base Year 2022
Market Size in 2022
$9,468.21 million
Market Size in 2032
$26,623.17 million
CAGR 11.2 %
No. of Pages in Report 339
Segments covered
Offering, Component, End-User, and Region.
Drivers
Increase in penetration of mobile SCADA system
Surge in integration of government initiatives in security
standards
Rapid growth in utilization of cloud computing technology
Opportunities Increase in advancements in wireless sensor networks
Growth in number of smart city projects
Restraints Huge investment costs for insertion and sustentation of
SCADA systems
Escalating cyberattacks in the industrial networks
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Covid-19 Scenario
-- The supervisory control and data acquisition (SCADA) market has
witnessed significant growth during the COVID-19 pandemic, owing to the
strict lockdowns and social distancing to contain the spread of the
virus. The economic uncertainty, partial shutdown of the business and
low consumer confidence impacted demand supervisory control and data
acquisition (SCADA) technology. The supply chain got hampered during the
pandemic along with delay logistics activities.
-- However, the supervisory control and data acquisition (SCADA) market is
expected to regain its pace during the post pandemic scenario due to the
easing on the restrictions.
The software segment to maintain its leadership status throughout the forecast period
Based on offering, the hardware segment held the highest market share in 2022, accounting for around half of the global Supervisory control and data acquisition (SCADA) market revenue, owing to rise in adoption of RTU devices in various industrial process, such as pressure tests, circulation pumps from a central location, to improve operational efficiency, and control various processes. However, the software segment is projected to manifest the highest CAGR of 13.8% from 2023 to 2032, as it helps to improve business operational efficiency, reduce infrastructure costs, and improve product quality.
The communication system segment to maintain its leadership status throughout the forecast period
Based on component, the remote terminal unit (RTU) segment held the highest market share in 2022, accounting for nearly two-fifth of the global Supervisory control and data acquisition (SCADA) market revenue, owing to rise in adoption of RTU devices in various industrial process, such as pressure tests, circulation pumps from a central location, to improve operational efficiency, and control various processes. However, the communication system segment is projected to manifest the highest CAGR of 14.6% from 2023 to 2032, as it helps to improve business operational efficiency, reduce infrastructure costs, and improve product quality.
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The discrete manufacturing segment to maintain its lead position during the forecast period
Based on end-user, the utilities segment accounted for the largest share in 2022, contributing to nearly half of the global Supervisory control and data acquisition (SCADA) market revenue, owing to increase in adoption of SCADA in various utilities industries to monitor and control remote pumps and compressors. However, the discrete manufacturing segment is expected to portray the largest CAGR of 14.0% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, as it helps businesses in the manufacturing sector to manage their operations in a more efficient and effective manner.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global Supervisory control and data acquisition (SCADA) market revenue, due to stable power management, as well as massive investment in technologies. However, the same region is expected to witness the fastest CAGR of 13.1% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to increase in investment by the government in automation for a wide range of industries.
Leading Market Players:
-- ABB Ltd.,
-- Alstom SA,
-- Emerson Electric Co.,
-- Hitachi Ltd.,
-- Honeywell International Inc.,
-- IBM Corporation,
-- Rockwell Automation Inc.,
-- Schneider Electric SE,
-- JFE Engineering Corporation,
-- Mitsubishi Electric Corporation.
The report provides a detailed analysis of these key players of the global Supervisory control and data acquisition (SCADA) market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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