SCADA Market Worth $57.2 billion by 2028 - Exclusive Report by Meticulous Research®

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Apr 29, 2021, 09:00 ET

REDDING, Calif., April 29, 2021 /PRNewswire/ -- According to a new market research report titled, "SCADA Market by Component (Hardware, Software, Services), Deployment Mode (On-premise, Cloud-based, Hybrid), End User (Oil & Gas, Automotive, Food & Beverage, Power, Semiconductors & Electronics, Chemicals & Materials)– Global Forecast to 2028", the SCADA market is expected to grow at a CAGR of 14.7% from 2021 to reach $57.2 billion by 2028.

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The increasing demand for automated industrial control solutions and growing investment for installing automated and connected process & control systems to gain efficiency over human labor-based operations are some of the major drivers for the growth of this market. Several companies are investing in automation technologies to gain cost-saving and productivity benefits. Additionally, the innovation of cloud-based SCADA systems offering enhanced collaboration and control over different processes and operations will propel the demand for SCADA systems in the coming years. However, the risk of cyber-attacks is a major challenge for the SCADA market.

COVID-19 Impact on the SCADA Market

The effect of COVID- 19 had a moderate negative impact on the market due to shutdowns of industrial operations and manufacturing facilities across the globe. SCADA market witnessed loss in 2020 due to limited adoption of automated & intelligent solutions and low consumer purchasing power. The manufacturing and processing sectors faced huge losses in 2020 due to its complete breakdown in the first two quarters of 2020. This resulted in limited demand for SCADA and industrial control solutions in manufacturing sectors worldwide. However, with the reopening of production facilities and industrial operations, the market started to recover in 2021 with the demand to automate these facilities.

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Driven by increased requirements for remote data visualization and real-time, data-driven decisions, data acquisition strategies are evolving in the era of COVID-19. Human-machine interface (HMI) and supervisory control and data acquisition (SCADA) systems are becoming even more important to achieve digital transformation because they can perform analytics on edge devices, providing the agility and resilience fundamental to success.

Key Findings in the SCADA Market Study

The overall SCADA market is segmented on the basis of component, deployment mode, and end user. The study also evaluates industry competitors and analyzes the market at regional and country level.

Based on component, the software segment is expected to grow at the highest CAGR during the forecast period due to the rising popularity of SCADA software for controlling the industrial processes across several end-user sectors. The software architecture of SCADA consists of programs that provide trending, diagnostic information. These programs aid in managing information like logistics, maintenance schedules, detailed schematics of a specific machine or sensor, and troubleshooting guides.

Additionally, companies are developing new SCADA software solutions with upgraded technologies and enhanced security options to reduce the risk of cyber-attacks. For instance, in February 2020, Schneider Electric SE (France), an automation digital solutions provider, launched a new version of EcoStruxure Power SCADA Operation 2020 software designed to provide real-time vision and cybersecurity and graphics customization.

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Based on deployment mode, in 2020, the on-premise segment accounted for the largest share of the overall SCADA market. These solutions are adopted by several SMEs and companies that have limited investment capability, as on-cloud solutions require huge cost. In on-premise software infrastructure, SCADA software is stored on the organization's hardware, offering better control over data, high security, and privacy.

Based on end user, in 2020, the oil & gas segment accounted for the largest share of the overall SCADA market due to the increased utilization of SCADA solutions to monitor the oil & gas processing operations. Modernization of internal processes in the oil exploration & production process offers the managers and employees better access to information related to operation & maintenance, streamline production & distribution, and high yield benefits. In the oil & gas industry, the SCADA system plays an important role in preventing leakage along the pipeline. SCADA systems in the oil & gas industry reduce personal visits to the site, leading to route and dispatch optimization, further supporting market growth.

This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (U.K., Germany, France, Italy, Spain, Russia, and RoE), Asia-Pacific (China, India, Japan, South Korea, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and RoMEA). In 2020, Asia-Pacific commanded the largest share of the global SCADA market, followed by Europe and North America. Factors such as high technical awareness related to industrial control solutions in China, Japan, and South Korea; presence of huge industrial sector; robust manufacturing capability; adoption of Industry 4.0 technologies; and transformation to smart factories are driving the growth of the APAC SCADA market.

The key players operating in the global SCADA market include Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), Eaton Corporation plc (Ireland), Schneider Electric SE (France), ABB Ltd (Switzerland), Yokogawa Electric Corporation (Japan), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Pilz GmbH & Co. KG (Germany), Survalent Technology Corporation (Canada), Valmet (Finland), and Hitachi, Ltd. (Japan) among others.

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Report Scope:

SCADA Market, by Component

Hardware

Programmable Logic Controller (PLC)
Remote Terminal Unit (RTU)
Communication Systems
Human-machine Interface (HMI)
Other Hardware Components

Software
Services

Professional Services
Managed Services

SCADA Market, by Deployment Mode

On-premise
Cloud-based
Hybrid

SCADA Market, by End User

Oil & Gas
Chemicals & Materials
Paper & Pulp
Pharmaceuticals & Biotech
Mining & Metals
Food & Beverage
Power
Consumer Goods
Automotive
Machines & Tools
Semiconductors & Electronics
Aerospace & Defense
Other End Users

SCADA Market, by Geography

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Russia
Rest of Europe

Asia-Pacific (APAC)

China
India
Japan
South Korea
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa (MEA)

UAE
Saudi Arabia
South Africa
Rest of the MEA

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