SCADA Market was valued at USD 33.04 billion in 2019 and is predicted to reach USD 58.92 billion by 2030

The Global SCADA Market size was valued at USD 33.04 billion in 2019 and is predicted to reach USD 58.92 billion by 2030 with a CAGR of 5.4% from 2020-2030.

SCADA is supervisory control and data acquisition through a system of software and hardware components. SCADA allows organizations to gather information, process this information on real-time, and control industrial processes from a remote location. It assists users to interact with the linked devices such as valves, pumps, and motors through a human machine interface and provide required command. It enhances the work efficiency, helps in taking smarter decisions, mitigate downtime, and record the various events in the system for future reference.

Access Full Description of this report at:-

https://www.nextmsc.com/report/scada-market

Competitive Landscape :

The SCADA market is highly competitive and fragmented. It consists of various market players including Hitachi LTD., IBM Corp, ABB LTD., Honeywell International, JFE Engineering Corporation, Alstom, Rockwell Automation, Emerson Electric Co., Mitsubishi Electric Corporation and Schneider Electric among others.

Over the period of time, there have been various developments taking place in the SCADA market which is further expected to contribute to the overall market size in the near future. For instance, in May 2019, Mitsubishi Electric Corporation had announced that it will acquire the remaining shares of ICONICS, Inc., a U.S. software company focused on SCADA, IoT, mobile, analytics and cloud software products for manufacturing industrial and building-automation markets, to make the company a 100% subsidiary within the Mitsubishi Electric Group. Mitsubishi Electric aims to enhance its software product lineup to realize e-F@ctory, including edge-computing, by combining ICONICS' software-developing capabilities and Mitsubishi Electric's factory-automation technology.

Market Dynamics and Trends:

SCADA is widely used in many applications such as power plants, oil and gas refining, transportation, water and waste control and telecommunications. Also, increasing adoption of cloud computing, surging demand of industrial mobility and the adoption industry 4.0 in countries around the world have been driving the global SCADA market and are expected to accelerate the growth over the forecast period.

Other factors include increasing adoption of smart devices and introduction of smart cities, which are further expected to expand the SCADA market. However, increasing incidences of cyber-attacks and high investments are expected to inhibit the growth of SCADA market. Moreover, increase in research and development activities coupled with the increased adoption of wireless sensor networks are expected to create lucrative opportunities in the SCADA market over the forecast period.

Request free sample copy of this report at:-

https://www.nextmsc.com/scada-market/request-sample

Market Segmentations and Scope of the Study:

The global SCADA market share is analyzed on the basis of offerings, applications and geography. On the basis of offerings, the market is divided into Hardware, Software, and Services. On the basis of application, the market is divided into Electrical Power, Oil & Gas, Water & Wastewater, Manufacturing, Transportation, Telecommunication, Chemicals, Food & Beverages, Pharmaceuticals, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America holds the lion share of the market and is anticipated to continue holding the largest market share during the forecast period. This is attributable to factors such as increased adoption of advanced technologies, growing number of smart cities and higher adoption of industrial automation system.

However, Asia Pacific is also expected to show tremendous growth over the forecast period and gradual increase in market size owing to the increased inclination towards cloud-based systems, and implementation of automation because of the growing demand for high-quality products, along with the increased production yield. The demand for process automation and instrumentation is very high in this region owing to the increasing investment in power transmission and distribution especially in countries like India, China, Japan and South Korea.

Postal Address:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.