Meticulous Research® – a leading global market research company published a research report titled “SCADA Market by Component (Hardware, Software, Services), Deployment (On-premise, Cloud-based, Hybrid), End User (Oil & Gas, Automotive, Food & Beverage, Power, Semiconductors & Electronics, Chemicals & Materials)– Global Forecast to 2028.”
According to the latest publication from Meticulous Research®, the global supervisory control and data acquisition (SCADA) market is projected to reach $57.2 billion by 2028, growing at a CAGR of 14.7% during the forecast period. The global SCADA market is witnessing growth due to the rising adoption of efficient control & monitoring solutions in industrial processes and growing demand for systems that monitor & control the manufacturing and industrial processes. These systems aid companies in reducing production waste and enhancing overall manufacturing efficiency with the help of trends and insights provided to the management. However, cyber threats associated with the SCADA systems where data is stored is restraining the growth of this market.
The SCADA market is gaining high pace due to several strategic developments adopted by industry leaders to develop their product portfolio. For instance, in April 2021, Mitsubishi Electric Corporation (Japan), an electrical product manufacturer and automation solution provider, renewed its SCADA lineup named GENESIS64 to provide two software for system monitoring and process control.
The market is segmented based on component (hardware [Programmable logic controller (PLC), remote terminal unit (RTU), communication systems, human-machine interface (HMI), other hardware components], software, services [professional services, managed services]), deployment mode (on-premise, cloud-based, and hybrid), and end user (oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech, mining & metals, food & beverage, power, consumer goods, automotive, machines & tools, semiconductors & electronics, aerospace & defense, and other end users). The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the SCADA market is segmented into hardware, software, and services. In 2021, the services segment is estimated to account for the largest share of the market due to the growing demand for installation, maintenance, repair, and training services associated with SCADA systems. The demand for efficient, professional services is expected to grow as companies offer services that will offer clients easy understanding and usage of SCADA systems.
Based on deployment mode, the market is segmented into on-premise, cloud-based, and hybrid. The cloud-based segment will witness high demand over the forecast timeline due to the increasing transformation of conventional industrial control systems to cloud-based SCADA systems. With the deployment of on-cloud SCADA solutions, companies can limit their IT costs as they are outsourced to provide support and maintenance for in-house servers.
Based on end user, the SCADA market is segmented into oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech, mining & metals, food & beverage, power, consumer goods, automotive, machines & tools, semiconductors & electronics, aerospace & defense, and other end users. The food & beverage segment is expected to register the highest CAGR during the forecast period due to the high adoption of manufacturing automation and process control solutions across the F&B sector. SCADA improves production efficiency and increases profitability in the F&B plants. Deployment of SCADA in the processing and packaging part of the F&B industry offers enhanced integration, predictive & preventive maintenance, and traceability.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (U.K., Germany, France, Italy, Spain, Russia, and RoE), Asia-Pacific (China, India, Japan, South Korea, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and RoMEA). Europe is expected to grow at the highest CAGR during the forecast period due to the rapid transformation of European industries into smart factories. The European manufacturers are rapidly adopting automation and Industry 4.0 technologies, further supporting the demand for SCADA systems. High labor costs and limited availability in the region compels manufacturers to install automated solutions for all processes in the manufacturing & industrial settings.
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The key players operating in the global SCADA market are Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), Eaton Corporation plc (Ireland), Schneider Electric SE (France), ABB Ltd (Switzerland), Yokogawa Electric Corporation (Japan), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Pilz GmbH & Co. KG (Germany), Survalent Technology Corporation (Canada), Valmet (Finland), and Hitachi, Ltd. (Japan).
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