Published Date : Jun 06, 2018
ALBANY, New York, June 6, 2018 –MarketResearchReports.biz has announced the addition of a new report titled “Global SCADA Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023”. The in-depth study on the global supervisory control and data acquisition (SCADA) market offers a comprehensive insight into the current market outlook and emerging trajectories. The insights takes a closer look at key drivers and trends, recent industry developments, lucrative prospects, and the competitive landscape. The study also takes a critical look at the impact recent technological advances are offering on the market potential and notable opportunities for market players to capitalize on through 2023.
SCADA systems are gaining rapid traction across several process industries world over. The constant drive for these systems has emanated from the pressing need to detect faults in machinery in real-time so as not to affect production schedules in these industries. The rising demand for advanced industry tools that help in remote maintenance so as to boost industrial mobility is a key force behind the evolution of the SCADA market.
The growing popularity of SCADA systems stem from the several advantages they offer in various processes in a wide spectrum of industries, including electrical power, manufacturing, water and wastewater, chemicals, and food and beverages. The attractively rising demand for SCADA systems in the power industry in transmission and distribution of electricity is a noteworthy factor that might impel the growth of the market. The substantial application of SCADA systems to tide over the losses of power world over is also boosting the market.
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The rising number of grid automation projects in several developing and developed countries has provided a robust impetus to the expansion of the market. The demand for SCADA is also gathering momentum in developed regions in automating water and wastewater infrastructures. In general, the rise in automation across various industries, notably the oil and gas, is also expected help in the steady expansion of the market over the forecast period.
Rising research and development activities in sensor and wireless technologies augurs well for the market. The rising concern of cyber threats plaguing the functionality of SCADA system is a crucial aspect that has restrained its adoption. Furthermore, the high investment in setting up SCADA systems has dampened their demand among businesses.
Nevertheless, growing adoption of smart city infrastructures in emerging economies such as that in Asia Pacific is positively impacting the demand for SCADA. The reduction in cost of these systems is further expected to boost their uptake. Of special significance is the crucial role SCADA occupies in Industry 4.0. Furthermore, the growing popularity of big data and cloud-based services will create more lucrative avenues for market players.
Players with sizeable stake in the global supervisory control and data acquisition include Iconics Inc., M.B. Control & Systems Pvt. Ltd., Omron Corporation, Rockwell Automation Inc., Larsen & Toubro, Siemens AG, General Electric Co., Emerson Electric Co., Honeywell International Inc., Yokogawa Electric Corporation, Schneider Electric, and ABB Group.
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