SCADA Market 2019 – 2023: Business Trends, Emerging Technologies, Industry Profit Growth and Global Segments
Global SCADA Market is predicted to experience a 9.80% CAGR during the assessment period (2018-2023). The growth is facilitated by adoption of Industry 4.0 standards by leading companies.
Pune, India – October 8, 2019 /MarketersMedia/ —
SCADA Market Synopsis:
Industries across the globe are shifting the towards automation to optimise output and improve bottom line. The evolving requirements of modern manufacturing is driving the adoption of the new-age technologies in the entire structure right from production to shipment. The development of supervisory control and data acquisition (SCADA) systems has been a steppingstone toward further modernization of the manufacturing sector. Industries are adopting SCADA to streamlines manufacturing processes, increase capacity which reducing the overall cost. Market Research Future (MRFR) in its report mentions that the global SCADA market will surge a compound annual growth rate (CAGR) of 9.80% during the forecast period (2018-2023).
While digitization of industries has allowed them to reach new heights, its has also made them vulnerable to new threats such as cyberattacks and data theft. This has increased the importance of SCADA Market systems to significant extent. With the help of SCADA systems, industries are restructuring security designs in IIoT ecosystems.
SCADA is also facilitating a faster adoption of Industry 4.0. Moreover, the grow need for industrial mobility solution is reflecting favourably of the market. Benefits such as better ability to monitor operations, real-time assessment, and faster data structuring processing is driving the popularity of SCADA. As Internet of Things becomes more profound in the manufacturing sector, application scope for SCADA will expand further. Nevertheless, the high initial cost remains a major market hindrance.
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Major Key Players:
Mitsubishi Electric Corporation, Schneider Electric SE, Rockwell Automation, Checkpoint Software Technologies Ltd., General Electric, Emerson Electric Corporation, Omron Corporation, Yokogawa Electric Corporation, Honeywell Automation, Radiflow and Siemens AG are some of prominent companies covered in MRFR’s study.
SCADA Market Segmental Analysis:
Segmental analysis of the market has been conducted based on component, deployment and end-user.
• On the basis of component, the market has been segmented into solutions and services, software and hardware.
• On the basis of the deployment, the market has been segmented into on-cloud and on premise. On the basis of end-user, the market has been segmented into chemical, food and beverages, oil & gas, manufacturing, pharmaceutical, telecommunication, water and waste management, energy and power and others.
Global SCADA Market Regional Analysis:
On the basis on region, the market has been segmented into Asia Pacific (APAC), Europe, North America and rest-of-the-world (RoW). Fuelled by the strong demand from China, the market is anticipated to remain highly attractive in APAC during the forecast period. In 2017, the SCADA market in APAC surpassed a valuation of USD 4 Bn and is projected to witness a double-digit CAGR of 11.48% during the forecast period.
This is mainly owing to the rise of China as a major electronics manufacturing hub. China is expected to make a significant contribution to the APAC SCADA market over the next couple of years. Meanwhile, Japan is also expected to play an important role as the country is home to some of the renowned market players, which include Mitsubishi and Yokogawa. India is also viewed as an emerging market for SCADA, with potential of double-digit market growth.
APAC is followed by North America, which is expected to retain its second position throughout the assessment period. Market growth is driven by the expansion of end-user industries. Modernization of industries and adoption of IIoT in the US, Mexico and Canada. These countries will continue to present attractive opportunities to market players through out the assessment period.
Industry News:
Logic Supply, global IoT and industrial computer manufacturer has reportedly collaborating with Inductive Automation, an automation software expert to introduce a range of edge gateways. The edge gateways will come with advanced ignition software.
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
Continued…..
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List of Table
Table 1 Market Synopsis 14
Table 2 List of Assumptions 17
Table 3 Global Scada Market, By Component, 2017-2023 (Usd Million) 30
Table 4 Global Scada Market, By Hardware, 2017-2023 (Usd Million) 31
Table 5 Global Scada Market, By Solution & Services, 2017-2023 (Usd Million) 33
Continued…
List of Figure
Figure 1 Global Scada Market: Market Structure 16
Figure 2 Research Process of Mrfr 19
Figure 3 Top Down & Bottom Up Approach 22
Figure 4 Droc Analysis of Global Scada Market 24
Figure 5 Porter’s Five Forces Analysis of The Global Scada Market 27
Continued…
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