SCADA Market Growing at a CAGR of 6.6%During 2017 to 2022 - ReportsnReports
26 Apr, 2017, 15:00 BST
PUNE, India, April 26, 2017 /PRNewswire/ --
SCADA Market will grow at CAGR of 6.6% from 2017 to 2022 to be worth $13.43 billion by 2022. Key driving factors for SCADA market are increased demand for industrial, increasing adoption of cloud, increasing infrastructure development, and rising adoption of Industry 4.0 using SCADA system.
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The SCADA market is expected to grow at a CAGR of 6.6% between 2017 and 2022 to be worth USD 13.43 billion by 2022. The key driving factors for the growth of the SCADA market are increased demand for industrial mobility for remotely managing the process industry, increasing adoption of cloud computing in SCADA system, increasing infrastructure development in terms of smart cities and transportation, and rising adoption of Industry 4.0 using SCADA system. However, the high investment cost for setting up of SCADA system, and declining and fluctuating oil and gas prices are considered to be the major restraints for the SCADA market.
Remote terminal unit is expected to hold a major share of the market by 2022. The digital and analog parameters of the field or plant such as the open or close state of a nozzle or the temperatures of particular equipment are monitored with the help of an RTU, which further transmits the data to a central monitoring station of SCADA system. The major share of RTU in the SCADA market is attributed to its ability to enables efficient decision-making for the operator.
The services market is expected to hold the largest size of the SCADA market in 2017. Due to continuous development in technologies used in manufacturing processes and increasing demand for variation in the products, the demand for services of SCADA is increasing. Services in SCADA also include increased security system and latest technology adoption, which enable the SCADA system to remain up to date according to new changes.
The market for the water and wastewater application is expected to grow at the highest rate between 2017 and 2022. SCADA systems are used in water treatment plants as well as in wastewater treatment for constantly monitoring and regulating the water flow, reservoir levels, and pipe pressure, among others. The treatment of water and wastewater requires large amounts of energy; SCADA helps reduce this energy consumption and automates system operations.
The SCADA market in the APAC region is expected to grow at the highest rate between 2017 and 2022. The demand for SCADA systems is very high in APAC owing to the increase in the number of manufacturing plants in various sectors such as power and pharmaceuticals. The implementation of automation is increasing in APAC because of the rising demand for high-quality products along with increased production rates. It also helps in the reduction of labor costs and human interference.
Breakdown of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 54%, Tier 2= 26%, and Tier 3 = 20%
- By Designation: C-Level Executives = 56%, Directors = 28%, and Others = 16%
- By Region: North America = 42%, Europe = 30%, APAC = 23%, and RoW = 5%
Order a copy of SCADA Market by Component (Programmable Logic Controller, Remote Terminal Unit, Human Machine Interface, Communication Systems), Architecture (Hardware, Software, Services), Application, and Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=283971 .
The key players in the SCADA market include ABB (Switzerland), Alstom (France), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International Inc. (US), Iconics Inc. (US), Omron Corporation (Japan), Rockwell Automation Inc. (US) Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).
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