Supervisory Control And Data Acquisition (SCADA) Systems Market Trends and Forecasts 2016 To 2024

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SCADA systems are used for automation largely by industries such as power, water & wastewater management and oil & gas. SCADA (Supervisory control and data acquisition systems) with their exclusive feature such as capturing data from the distant area devices and allowing the central computer to monitor and control the processes from a particular location, is expected to witness an expansion in their applications in the industry. SCADA systems offer great help as a monitoring system, in a cost efficient manner, thereby raising the operational competence of the firm. Advantages of automated control systems over the physically controlled procedure include less process time, increased efficiency and convenience.

This market is propelled by some factors, such as growing infrastructure investments in budding economies, increasing the threat of cyber risk, and a substantial surge in process automation in numerous industry verticals. The advancement of cloud-based SCADA (supervisory control and data acquisition) and wireless sensor network-based SCADA is expected to fuel the market over the forecast period. This industry involves RTUs (remote terminal units), communication systems, HMI (human machine interface) and PLC (programmable logic controllers).

The market is anticipated to foresee high growth over the forecast period owing to the enormous potential of the renewable energy industry, high investments in infrastructure for sections such as power (transmission and distribution), oil & gas and water & wastewater management. These are some of the factors which are expected to drive the growth of the supervisory control and data acquisition market over the forecast period. Cyber security risk is assumed as a significant challenge which is being often faced by this market. Growing demand for automation in different energy sections is one of the primary factor driving this market. The supervisory control and data acquisition systems are used to monitor various complex systems and procedures in power plants, oil and gas, water & wastewater management, industrial facilities, pharmaceuticals and telecommunication among others.

The demand for consistent power transmission and distribution among various industries, increasing demand for SCADA systems in oil & gas industry and growth in infrastructure investments in rising markets of Asia Pacific for proficient oil extraction are expected to speed up the growth of this market over the forecast period.

By components, the market can be segregated into communication systems, remote terminal unit, human machine interface and PLC (programmable logic controller). PLC component is expected to account for maximum revenue share over the forecast period owing to its increasing use across various verticals of industry. By architecture, the market can be segregated into hardware, services, and software. Hardware section is expected to capture maximum profit owing to its overall implementation across the world. Services segment is scheduled to grow rapidly over the forecast period due to their cost effectiveness and its increasing awareness across different verticals. By application, the market is segregated into various industries such as electrical power, food & beverages, water & wastewater management, oil & gas, telecommunication, manufacturing, and pharmaceuticals. Among all the industries, the electric power section is expected to be the largest revenue contributor over the forecast period owing to rising implementation of grid automation across the world in the power sector.

Read more: http://www.grandviewresearch.com/industry-analysis/supervisory-control-data-acquisition-systems-scada-market

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