July 15, 2020
According to the research report titled ‘Global SCADA System Market: Insights, Attractiveness, Trends and Opportunities (2019 Edition) Forecast to 2024’, available with Market Study Report LLC, global SCADA system market was worth USD10,434.24 million in 2018 and expected to record considerable growth through 2024.
Global SCADA system market is likely to witness a digital transformation owing to the integration of augmented reality, big data analytics, IIoT, and cloud computing with SCADA system. The growth of the market is attributed to the technological breakthrough with respect to controlling systems and process automation.
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Increasing digital technologies in industrial sectors such as augmented and virtual reality, big data analytics, industrial internet of things (IIoT), and cloud computing are likely to alter the process controlling systems and industrial automation in the ensuing years, which is anticipated to boost revenues for this business vertical. Adoption and integration of these digital technologies with SCADA system will change the outlook for traditional SCADA systems. In addition, infrastructural projects with respect to transportation networks, oil & gas pipelines, upgradation of old electricity grid system, and manufacturing units across the world are slated to skyrocket the demand for modern and advanced SCADA systems.
As per the research document, global SCADA system market is bifurcated based on component type, architecture type, and end user industry. Based on component type, the market is divided into communication systems, human-machine interface, remote terminal unit, and programmable logic controller. Speaking of architecture type, global SCADA system market is categorized into software and hardware. Based on end user industry, the market is divided into chemicals, water & wastewater, transportation, power generation, oil & gas, and others.
Speaking of the geographical arena, global SCADA system market is fragmented into Latin America, Middle East & Africa, Asia Pacific, Europe, and North America. In addition, it includes historical data of the industry for 2017-2018 and predictions over 2019-2024.
The leading organizations in global SCADA system market are General Electric, Schneider Electric, Honeywell International, Siemens, Emerson Electric Corp., and ABB among others.