Supervisory Control and Data Acquisition (SCADA) Market will touch US$40.18 bn by the end of 2024

In a recent report by Transparency Market Research (TMR), the vendor landscape of the global supervisory control and data acquisition (SCADA) market is estimated to be registering a significant growth owing to the rise in awareness among consumers with relation to the benefits that SCADA provides like real-time detection of faults in machineries. Apart from that the market for supervisory control and data acquisition is also driven by factors like production cost decline and reduced defect in output along with other production process advantages.

Some of the leading players of the global supervisory control and data acquisition (SCADA) market are Schneider Electric SE, OMRON Corp., Rockwell Automation Inc., Honeywell International Inc., and Yokogawa Electric Corp. The competitive landscape seems to be consolidated in nature thus, few handful players are making efforts to hold their control in the overall market. It is difficult for new players to enter the market as major players have made it extremely difficult in the market so that their presence is felt in the data acquisition and supervisory control over the market.

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As per the TMR report, the global supervisory control and data acquisition (SCADA) market is estimated to earn a US$40.18 bn within the forecast period of 2016 to 2024. Based on end users, the market is anticipated to be dominated by electric power industry as they are turning out to be a key customer of SCADA in the near future. Geographically, the market is seen to be led by North America although Asia Pacific is soon to gather pace in the coming years.