Global SCADA Market is Estimated to Reach $48 Billion by 2024, Says Accurize Market Research
Global SCADA market report published by Accurize Market Research forecast that the global market is expected to reach $48 billion by 2024; growing at a CAGR of 5.6% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Increasing demand for process automation in different energy verticals to drive the growth of the market
Increasing demand for process automation in different energy verticals and integration of SCADA with IT corporate fuels the demand for the global SCADA market. Moreover, technological developments and the penetration of SCADA in various sectors also boosts the growth of the market.
The global SCADA market has been bifurcated on the basis of component, architecture, application, and geography. The component segment is further segmented into the human machine interface (HMI), remote terminal unit (RTU), programmable logic control (PLC), SCADA communication systems and others. The architecture segment can be divided into hardware, software, and services. Furthermore, the application segment contains transportation, electric power, water & wastewater, oil & gas, manufacturing, food & beverages, telecommunication, pharmaceuticals, chemicals, and others.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico, and Canada are covered under North America wherein Europe covers U.K, Germany, France, and others. Asia-Pacific covers China, India, Japan, Taiwan, and others. ROW covers South America, the Middle East, and Africa.
“Human machine interface accounted the largest market share in the component segment “, says Accurize
By component segment, the human machine interface accounted for the highest market share of 33.6% in 2017, followed by the programmable logic controller with a market share of 30.3%. Moreover, electric power and chemicals dominated the market in the application segment with a share of 17.5% and 14.6% respectively in 2017.
“North America dominated the global market with the highest market share over the forecast period”, says Accurize
In 2017, North America dominated the market with the highest market share of 34.4%. Additionally, RoW is the fastest growing region in the market during the forecast period, owing to the increasing use of SCADA in the oil & energy sector.
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Top players in the market
The key market players include Hitachi, Ltd., IBM Corporation, Honeywell International, General Electric, ABB, GE Intelligent Platforms, Mitsubishi Electric Corporation, B-SCADA Inc., Schneider Electric SE, and Siemens AG among others.