ALBANY, New York, December 12, 2018 /PRNewswire/ --
The global SCADA market has highly competitive and moderately consolidative vendor landscape, Transparency Market Researcher (TMR) witnesses. Some of the prominent players operating in the SCADA market for water and wastewater management are ABB Ltd., Yokogawa Electric Corporation, Schneider Electric, Rockwell Automation Inc., and Emerson Electric Co.
A report from TMR estimates, the global automated guided vehicle market registered the revenue of US$1,267.4 mn in 2015 and expected to achieve a value of US$2,172.1 mn by 2024. The market is expected to expand with a CAGR of 5.60% over the forecast period from 2015 and 2025.
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Based on the component, the service segment accounted for 55% of shares in 2016 and is expected to remain dominant over the forecast period. Based on end-user, the industrial segment is expected to expand with a CAGR of 6% over the forecast period from 2015 to 2025. Based on region, North America dominated the global SCADA market for water & wastewater management in 2016 by accounting 33% of share.
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Rising Awareness about Health to Propel Growth
The global SCADA market for water and wastewater management is gaining traction due to increasing investment for improving infrastructure coupled with the growing need for clean and drinkable water. Additionally, growing complexities for maintaining the water and wastewater facilities are fuelling demand for the SCADA systems and likely to fuel the growth of the SCADA market.
Furthermore, companies are increasingly investing in improving the water and wastewater treatment systems. In addition, the companies are trying to improve their product portfolio and business expansion; thus, they are increasingly investing in research and development activities. The growing advancements in the systems and water purification technologies are improving the efficiency of wastewater management systems. This, in turn, is fuelling the growth of the SCADA market.
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Rising awareness about health and quality of water globally and especially in the developing countries is encouraging adoption of SCADA systems, which is likely to impel the growth of the market over the forecast period.
Growing Government Investment to Offer Opportunities
However, the high cost of systems and its installation coupled with lack of skilled labor for handling the complex process is limiting adoption of SCADA systems for purification of water. This is a key factor restraining the growth of the SCADA market. Nonetheless, rising government investment for improving technology in the field is enhancing the growth of the market. Numerous governments are encouraging the adoption of SACADA systems for water & wastewater management. Additionally, growing awareness about the environment and knowledge of hazardous effects of wastewater on human health is boosting the adoption of SCADA systems globally. These factors are fuelling the growth of the SCADA market.
This information is encompassed in the new report by TMR, titled "SCADA Market for Water & Wastewater Management (Component - Hardware (Programmable Logic Controller (PLC), Remote Terminal Units (RTU), Network infrastructure, and IT), Software (On-premise and Cloud-based) and Services; End User - Residential (Government and Private) and Industrial (Chemical, Food & Beverages, and Pharmaceutical)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2025."
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For the study, the SCADA market has been segmented as follows:
- Programmable Logic Controller (PLC)
- Remote Terminal Units (RTU)
- Network infrastructure, and IT
- Food & Beverages
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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