October 29, 2019
According to the latest study titled ‘Global SCADA System Market: Insights, Attractiveness, Trends and Opportunities (2019 Edition), Forecast to 2024’ available with Market Study Report LLC, the global SCADA system market is expected to grow substantially by the year 2024.
SCADA (supervisory control and data acquisition) systems are used for gathering data in real-time and analysing it. These SCADA systems are applicable in industries for monitoring and controlling operations and are economical.
The system is being integrated with cloud computing, big data analytics, Industrial Internet of Things, and virtual & augmented reality technologies, thereby contributing towards the growth of SCADA system market. Technology breakthrough, coupled with introduction of process automation and real-time operation controls are further boosting the demand on solution across industries, hence aiding market growth.
As per the report, SCADA system market was worth US $10,434.24 million in 2018 and is projected to register accelerated growth over the forecast period. The study encompasses information on market size, revenue shares, and growth factors. It also provides a detailed synopsis of trends, challenges, restraints, and drivers influencing the market growth.
Based on architecture type, the market is segmented into hardware and software. Whereas, on the basis of component type, SCADA system market is categorized as remote terminal unit, programmable logic controller, communication systems, and human-machine interface.
Speaking about end-user scope, the market is split into transportation, oil & gas, power generation, water & wastewater, chemicals, and others.
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Considering the geographical landscape, the global SCADA system market is fragmented into regions, namely, Europe, North America, Asia Pacific, and LAMEA (Latin America and Middle East & Africa). While, the key countries analysed under SCADA system market are India, United States, China, Germany, and Poland.
Some of the vendors that operate in SCADA system market are Emerson Electric Corp., ABB, Honeywell International, Siemens, Schneider Electric, and General Electric.
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