Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The "SCADA Market by Offering (Hardware, Software, Services), Component (Programmable Logic Controller, Remote Terminal Unit, Human-Machine Interface), End User (Process Industries, Discrete Manufacturing, Utilities) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global SCADA market size is anticipated to grow from USD 9.8 billion in 2022 to USD 14.2 billion by 2027, at a CAGR of 7.8% from 2022 to 2027. The growing significance of real-time data for process analysis and predictive maintenance and the rising adoption of IoT in manufacturing industries are key factors boosting the growth of the SCADA market.
RTU component to account for the largest share of the SCADA market in 2022.
RTU is an electronic device and one of the core components of SCADA systems. It is used for collecting data, coding it into a transmittable format, and transferring it to the main system. Several RTUs are put in a SCADA system for this purpose. Deep-sea exploration and extraction, along with shale gas exploration, contribute to the rising demand for RTUs, as oil & gas is the major end-user industry of SCADA systems.
Services segment to capture the largest market share of SCADA in 2022.
A SCADA system requires regular maintenance and modification services that primarily include providing increased security and the latest updates related to the SCADA system. At present, there is a high demand for application-specific modification services, which has resulted in an increased number of services, including SCADA system recommendations, regulatory compliance, re-commissioning or restart assistance, and legacy system support and migration services. Only a few countries in the market have defined regulations related to cybersecurity while deploying SCADA systems. Oil & gas is considered as one of the most-affected industries due to cyber threats. Hence, cybersecurity services are the highest priority in this industry.
Asia Pacific is expected to grow at the highest CAGR in the SCADA market during 2022-2027.
Asia Pacific is expected to grow at the highest CAGR in the SCADA market during the forecast period. Growing population, rising standards of living, and developing economies have led to rising demand for energy. Automation is increasing in the Asia Pacific because of the rising necessity for high-quality products, along with the increased production rates. The increasing energy demand would lead to the development of the energy sector, including the oil & gas and power industries. This, in turn, would generate the demand for automation products, including SCADA systems, in the Asia Pacific region.
- Surging Adoption of Industry 4.0 in Manufacturing and Process Industries
- Accelerating Deployment of AI and IoT Across Manufacturing Industries
- Rising Implementation of Industrial Mobility Solutions
- Growing Number of Smart City Projects
- High Installation and Maintenance Costs of SCADA Systems
- Declining Oil Prices
- Rapid Developments in Wireless Sensor Networks
- Transition from On-Premises to Cloud-Based SCADA Systems
- Integration of SCADA Systems with Big Data Analytics
|No. of Pages||246|
|Forecast Period||2022 - 2027|
|Estimated Market Value (USD) in 2022||$9.8 Billion|
|Forecasted Market Value (USD) by 2027||$14.2 Billion|
|Compound Annual Growth Rate||7.8%|
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Types, Deployment Models, and Cybersecurity-Related Threats and Countermeasures
7 Important Features of the Latest SCADA Systems
8 SCADA Market, by Offering
9 SCADA Market, by Component
10 SCADA Market, by End-user
11 SCADA Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent Market
- Data Flow Systems
- Detechtion Technologies
- Elynx Technologies
- Emerson Electric
- EMR Integrated Solutions
- General Electric
- Honeywell International
- Inductive Automation
- JFE Engineering Corporation
- Mitsubishi Electric
- Ovak Technologies
- Pilz GmbH & Co. Kg
- Rockwell Automation
- Schneider Electric
- Sprecher Automation
- Willowglen Systems
- Yokogawa Electric
For more information about this report visit https://www.researchandmarkets.com/r/r7lh8p
CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.