The global SCADA systems market is prognosticated to witness a surge in its demand during the forecast period due to the rise in industrial sector. Industrial sector uses SCADA systems as this helps in getting better efficiency, communicate system issues to help mitigate downtime, and process data for smarter decisions. Rise in innovation accompanied with the advent of latest technology is bolstering the growth of the market, reports Market Research Reports.biz. In a 93 pages report titled, “Global SCADA Systems Market Insights, Forecast to 2025”, offers a complete overview of the market. The report also carries various market dynamics such as trends, opportunity, and restraints which are likely to have a tremendous on the growth of the market.
Rise in uptake of cloud-based SCADA system for infrastructural growth such as transportation and smart cities is promoting the growth of SCADA system market. Another factor which is pushing the market forward is the high penetration of mobile SCADA systems worldwide, due to its firm factor and friendly interface. Rise in the research and development activities in the wireless sensor network in SCADA accompanied with need for big data with analytics have increased the efficiency of SCADA systems, thus creating a lucrative opportunity for the market.
SCADA systems finds it application in various industry such as oil and gas, food and beverages, energy and power, water and waste water, telecommunication, manufacturing, transportation, pharmaceuticals, chemicals, and others. Amongst these, the water and waste water management segment is anticipated to witness an exponential rise in its demand due to the high requirement of recycling of waste water in order to reduce the scarcity of water all across the planet. Increase in development of water/wastewater management facilities in Middle East and Africa and Asia Pacific is envisaged to promote the growth of the global SCADA systems market. Government’s initiative in treating waste water across the developing countries is contributing the market growth.
SCADA is known to play a vital role in the digitization process associated to the industry 4.0. In order to stay up-to-date one needs to stay abreast with the latest standard and technologies. SCADA aids this opportunity to various industries to get a head start. SCADA is known to connect Internet of Things with business, thus giving an entire picture to the one in control. It has become important for business to use SCADA system. This has helped the market to grow. However, complex setup accompanied with high cost are predicted to pull down the growth of the market. Small industries which could not afford such hefty fund, fail to install SCADA systems and thus could not meet the desired boost that was required. Data breach is another factor which is harming the growth of the market.
Geographically, the market is spread across, Europe, North America, Asia Pacific, and Rest of the World. Amongst the pack, Asia Pacific holds a lion share due significant contribution made by China. Some of the major prominent players are present in this country, allowing the region to hold maximum share in the years to come. Some of the major players in the market are Honeywell, Siemens, T&D Engineering, IDS GmbH, GE, and Yokogawa.