Transparency Market Research (TMR) has reported that the global SCADA market is likely to demonstrate a consolidated structure, with fewer players holding major shares in the market. With manufacturers largely focused on mergers and acquisitions to strengthen their presence and maintain global outreach, major players are focused on expanding product portfolios and enhancing market penetration in the years to come.
Players operating in the global SCADA market include Schneider Electric, Yokogawa Electric Corporation, Tesco Controls Inc., and Eaton Corporation.
The revenue generated by the global SCADA market is likely to stand at US$1.267 billion (S$1.73 billion) and projected to touch valuation of US$2.172 billion (S$2.97 billion) by the end of 2025. The global SCADA market is also likely to register a steady CAGR of 5.6% over the forecast period of 2015 to 2025.
On the basis of end use, the industrial segment is likely to account for a maximum share in the global SCADA market, with the increasing contribution from the food and beverage sector expected to be a prime factor towards a large part of the global SCADA market. From a geographical point of view, North America is likely to dominate the global SCADA market, with the growing popularity of cloud-based SCADA a prime factor in stimulating demand within the region. Europe is expected to account for healthy growth in the years to come.
Advancement in technology driving the global SCADA market
The escalating demand for water and wastewater treatment is one of the most important factors triggering the growth of the global SCADA market for SCADA water and wastewater management in the coming years. The advancement in technology and growing government funding will also be seen as important factors promoting the growth of the market. With major players focusing on emerging economies, this will likely enhance growth of the market during the forecast period.
The growing need for wastewater management will also be one of the key factors promoting the growth of the global SCADA market, with the growing government wastewater management plan contributing to market growth.
Additionally, the rising investment in infrastructure and growing complexities in the management of water and wastewater facilities will propel demand for the market.
High maintenance cost and design complexity to limit market growth
On the other hand, the high cost associated with installation is one of the key factors negatively affecting the global growth of the SCADA market, with design complexities identified as another factor contributing to the restriction of growth.
However, the growing popularity of cloud-based SCADA for water and wastewater management is one of the factors that will be seen to positively impact the growth of the global SCADA market.