Zion Research has published a new report titled “Supervisory Control and Data Acquisition (SCADA) Market by Architecture (Hardware, Software and Services), by Components (Programmable Logic Controller, Remote Terminal Units and SCADA Communication System) for Oil and Gas, Electrical Power, Water & Wastewater Application, Transportation and Manufacturing Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global demand for supervisory control and data acquisition market was valued at USD 7.5 billion in 2014 is expected to reach USD 11.0 billion in 2021 and is anticipated to grow at a CAGR of 7.40% between 2016 and 2021.
Supervisory control and data acquisition are defined as a system which assists in gathering and analyzing real-time data of an application. This interface offers the telemetry units and reduces the cost of the product. It decreases the faults in machinery and amount of defects in output. The far-reaching impact of technology and the fact that SCADA systems can empower companies to quickly change their business processes to respond to real-time knowledge flow.
Hardware, software, and services are three major architectural segments of the global supervisory control and data acquisition market. Among these three, hardware segment has dominance over the market for 2015. It generates around 50% shares of the total revenue of global supervisory control and data acquisition market. It is also further expected to continue its dominance in the market for the coming five years. In addition, service segment is also projected to witness lucrative growth owing to growing adoption of supervisory control and data acquisition solution in large enterprises for handling real-time data.
The programmable logic controller was the foremost component for global supervisory control and data acquisition market. It accounted around 53% share of the entire revenue generated in 2015 and also expected to grow at CAGR 7.7% in near future. The programmable logic controller was followed by SCADA communication system in the same year. In addition, SCADA communication system and remote terminal units are expected to grow at moderate pace growth over the future years due to rapidly increasing telecommunication industry across the globe.
Based on application, electric power dominated the global supervisory control and data acquisition market. It accounted for 35% shares of the total market in 2015. Supervisory control and data acquisition help in reducing the cost of electric power distribution and transmission. Thus, electric power segment is expected to exhibit significant growth in the years to come. Furthermore, water and wastewater management is another important segment of supervisory control and data acquisition market and is expected to show strong growth in the near future. Other applications like oil & gas and transportation are also expected to witness significant growth over the forecast period.
North America was the leading regional market for supervisory control and data acquisition in 2015. It accounted for over 30% share of total revenue generated in 2015. This growth is mainly due to the adoption of advanced technology along with investment for SCADA technology. In addition, U.S. was the major contributor of supervisory control and data acquisition in 2015. Furthermore, Europe was the second largest regional market and is expected to witness significant growth in the years to come. This growth is attributed to the huge investment in oil and gas sector and water & wastewater sector in the region. Asia Pacific is a fastest growing market for SCADA market. Latin America and the Middle East & Africa are also expected to exhibit significant growth within the forecast period.
Some of the key players in the global supervisory control and data acquisition market include Honeywell International, Inc., Siemens AG, Emerson Electric Co., Alstom SA,ABB Ltd., Rockwell Automation, Omron Corp., Schneider Electric and amongst others.
The full report is available on Zion Market Research.
Text by Shawn Morgan / Retrieved from TXN