The Business Research Company’s SCADA Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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The SCADA market has experienced significant growth in recent years, projected to increase from $11.87 billion in 2023 to $12.74 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.3%. This historical growth can be attributed to the rising demands for industrial automation, monitoring of critical infrastructure, gains in efficiency and productivity, regulatory compliance requirements, and improved operational visibility.
How Much Will the Global SCADA Market Grow, and What Is the Predicted Annual Growth Rate?
The SCADA market is projected to experience robust growth in the coming years, reaching $17.76 billion by 2028, with a compound annual growth rate (CAGR) of 8.7%. This anticipated growth during the forecast period can be attributed to the integration of IoT and big data analytics, a heightened focus on cybersecurity measures, the expansion of renewable energy, smart city initiatives, and increasing demands for remote monitoring and control.
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What Are The Top Drivers Contributing To The Growth Of The SCADA Market?
The growth of the oil and gas sector is anticipated to drive the expansion of the SCADA market. This sector encompasses the exploration, observation, development, drilling, production, extraction, refining, distribution, and transportation of hydrocarbons from oil rigs to consumers. In the oil and gas industry, SCADA software plays a crucial role in monitoring and controlling pipelines while measuring gas well production remotely. It provides asset optimization by enhancing field visibility and improves safety by streamlining operational processes.
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Which Companies Are Leading Growth in the SCADA Market?
Key players in the SCADA market include Hitachi Ltd., Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., Toshiba Corporation, ABB Ltd., Fuji Electric Co Ltd., Eaton Corporation PLC, Emerson Electric Company, Rockwell Automation Inc., Omron Corporation, Yokogawa Electric Corporation
What Are the Key Trends Defining the SCADA Market Size?
Leading companies in the SCADA market are concentrating on developing innovative technologies to enhance their competitive position.
What Are The Key Segments Of The Global SCADA Market?
1) By Offering: Hardware, Software, Services
2) By Component: Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), Human-Machine Interface (HMI), Communication System, Other Components
3) By Deployment: On-Premise, Cloud
4) By Application: Chemical And Pharmaceuticals, Food And Beverage, Manufacturing, Oil And Gas, Transportation, Utility, Water And Sewage
Geographical Highlights: Asia-Pacific Leading SCADA Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The SCADA Market Overview?
SCADA stands for supervisory control and data acquisition, a system software program designed to manage industrial processes by collecting real-time data from remote locations to control equipment and conditions. It provides industrial organizations with the necessary tools to make informed, data-driven decisions regarding their processes.
The SCADA Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global SCADA Market Report: Trends, Opportunities, Strategies, and More
The SCADA Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into SCADA market size, SCADA market drivers and trends, SCADA competitors’ revenues, and SCADA market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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