SCADA Market Size, Share, Growth, Trends and Forecast
The demand within the global SCADA market is growing at a sturdy pace in recent times. Advancements in the domain of information and communication technology (ICT) have been the primary driver of demand within this market. Furthermore, the increasing need for data protection, management, and analysis has created fresh opportunities for growth within the global market. Therefore, SCADA systems are set to be inducted across various industrial verticals in the years to follow. A multitude of providers of ICT services have come the fore, and SCADA systems are an important component of their portfolio of offerings.
Supervisory control and data acquisition (SCADA) systems help in analysing real-time data, and successively drawing key inferences from it. This is an important consideration for vendors looking to improve their digital game. The application of SCADA systems is not restricted to a particular sector or industry. The use of a supervisory node for managing and analysing data has become an undelayable feat in multiple organisations. Furthermore, use of SCAD technologies for wired as well as wireless connections increases their scope of applicability. It is can safety be concluded that, in this world of data-dependency, remote monitoring systems would become an important component of key organizations.
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In a report published by Transparency Market Research (TMR), it is predicted that the global SCADA market for water and wastewater management would grow at a sturdy CAGR of 5.6% over the period 2015 and 2025. Furthermore, the total volume of the SCADA market is set to reach US$2,172.1 mn by the end of 2025, rising up from a value of US$1,267.4 mn in 2015.
Importance of SCADA Systems in the Energy Sector
The unprecedented demand for processing real-time data in the energy sector has given a thrust to market growth. The energy sector is characterised by rapid technological growth and swift outlay. In this fast-moving scenario, it is important to have a remotely-controlled system for managing data within the industry. Furthermore, industrial applications and processes can be automated without much hassle through the use of SCADA technologies. Therefore, SCADA systems help companies, organizations, and industrial units in accelerating processes and improving their manufacturing capabilities.
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Healthcare-IT Emerges as a Key Area of Operation
The importance of SCADA systems in the healthcare industry cannot be underestimated. Electronic health records (EHR) have become an important component of large healthcare centers and organizations. EHRs have imparted a sense of integrity and coherence to the way healthcare centers deal with patient data. Therefore, the use of SCADA for fortifying healthcare IT shall bring in key revenues within the global market. Besides, the demand for automating processes within healthcare has also generated fresh opportunities for market growth. Electricity companies, malls, healthcare centers, and process lines are some of the key end-users of SCADA.
The global SCADA market can be segmented on the basis of:
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
Hardware
- Programmable Logic Controller (PLC)
- Remote Terminal Units (RTU)
Software
- On-premise
- Cloud-based