In a recent published report, Kenneth Research has updated the market report for SCADA Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for SCADA Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global SCADA Market is forecasted to reach $48 billion by 2024; growing at a CAGR of 5.7% from 2016 to 2024. SCADA is an industrial automation control system, which is used in collecting of data in real time from various locations for controlling and monitoring of any plant & equipment across industries. These functions of SCADA are controlled from a centralized location. SCADA is best fit for any kind of enterprises, ranging from simple configurations to large & complex projects. It is being used in telecommunications, oil & gas refining, transportation, and power plants, among others. IEEE, American National Standards Institute (ANSI), and Electric Power Research Institute, among others are involved into the standardization of SCADA systems.
Some of the major drivers of global SCADA market are penetration of SCADA in various sectors, integration of SCADA with IT corporates, and technological developments. However, cyber security may act as a restraint for growth of the market. Additionally, cloud-based SCADA, and adoption of SCADA by small enterprises from emerging economies would provide growth in the upcoming years.
Component, architecture, application and geography are the major segments of the global SCADA market. Component segment includes remote terminal unit (RTU), SCADA communication systems, programmable logic control (PLC), human machine interface (HMI), and others. Architecture segment is segmented into hardware, software and services. Moreover, electric power, transportation, water & wastewater, manufacturing, oil & gas, food & beverages, pharmaceuticals, telecommunication, chemicals, and others are the key sub segment of application segment.
North America, Europe, Asia-Pacific and RoW are the key geographical segments of global SCADA market. 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, Middle East and Africa.
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Key market players in the SCADA market are GE Intelligent Platforms, Honeywell International, IBM Corporation, Mitsubishi Electric Corporation, Hitachi, Ltd., Schneider Electric SE, ABB, General Electric, Siemens AG, and B-SCADA Inc., among others.
The key takeaways from the report:
The report will provide detailed analysis of SCADA Market with respect to major segments such as component, architecture and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of SCADA market has been included in the report.
Profile of the key players of the SCADA market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of SCADA Market
Component Segments
Programmable Logic Control (PLC)
Human Machine Interface (HMI)
SCADA Communication Systems
Remote Terminal Unit (RTU)
others
Architecture Segments
Hardware
Software
Services
Application Segments
Pharmaceuticals
Water & Wastewater
Oil & Gas
Manufacturing
Electric Power
Transportation
Chemicals
Telecommunication
Food & Beverages
Others
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Geography Segments
North America
US
Canada
Mexico
Europe
Germany
France
United Kingdom
Others
Asia-Pacific
China
India
Japan
Taiwan
Others
RoW
South America
Middle East
Africa
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