According to the latest study titled ‘SCADA Market Size By Component, By Application Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global SCADA market is anticipated to grow momentously during 2020-2026.
 

Growing popularity of process automation, alongside widespread awareness regarding cost-benefits associated with SCADA are propelling the market growth. Further, expansion of oil & gas sector and flourishing manufacturing industry, in tandem with numerous smart city projects are augmenting global SCADA market outlook.
 

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Although technological advancements and collective preference for automation are impelling the demand for SCADA, but high installation cost and security concerns act as major restrains for the market expansion.
 

Speaking of the component terrain, global SCADA market is classified into remote terminal unit (RTU), programmable logic controller (PLC), human-machine interface (HMI), and others. As per the report, others segment, including supervisory systems and communication infrastructure, is poised to gain decent traction in the ensuing years, owing to advancements in SCADA programming.
 

Based on the application terrain, the industry is fragmented into water & sewage, utility, transportation, oil & gas, manufacturing, food & beverage, and chemical & pharmaceuticals. SCADA market share from utility application is estimated to amplify substantially, on account of inflowing investments aimed towards smart grid development. SCADA system is deployed in utility applications across various industries to supervise various parameters including voltage, pressure, temperature, current, and water level and alert operators in case of anomaly.
 

From regional frame of reference, worldwide SCADA market is segmented into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America. The report cites that Latin America market is predicted to grow with a CAGR of 4% over the forecast period, pertaining to widespread adoption of cloud computing and IoT technologies, alongside inclination towards operational innovations.
 

Key players in global SCADA market are Yokogawa Electric Corporation, Toshiba Infrastructure Systems & Solutions Corp., Siemens AG, Schneider Electric SE, Rockwell Automation Inc., Partita IVA, Ovak Technologies, Honeywell International Inc., Omron Corp., Mitsubishi Electric, ICONICS Inc., Hitachi Ltd., Emerson Electric Co., AVEVA Group plc, and ABB Ltd.