Meghalaya Magazine

Supervisory Control and Data Acquisition SCADA Market To Register CAGR of 5.5% By 2026 | Rising Demand from Oil and Gas, Automotive and Transport, Electric Power

 Breaking News
  • No posts were found

Supervisory Control and Data Acquisition SCADA Market To Register CAGR of 5.5% By 2026 | Rising Demand from Oil and Gas, Automotive and Transport, Electric Power

September 21
06:43 2019
Supervisory Control and Data Acquisition SCADA Market To Register CAGR of 5.5% By 2026 | Rising Demand from Oil and Gas, Automotive and Transport, Electric Power

Supervisory Control and Data Acquisition (SCADA)
The global SCADA market was valued at US$ 29.24 billion in 2017 and is expected to increase to US$ 47.14 billion by 2026, registering a CAGR of 5.5% over the forecast period from 2018 to 2026

The global supervisory control and data acquisition (SCADA) market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to increasing demand for real-time detection and minimization of flaws in industrial processes. Use of SCADA helps in detecting and minimizing the flaws in more efficient manner. Furthermore, the technology also helps in efficient distribution of power via re-routing.

Request sample copy SCADA market @ 
https://www.coherentmarketinsights.com/insight/request-sample/2158

The global SCADA market was valued at US$ 29.24 billion in 2017 and is expected to increase to US$ 47.14 billion by 2026, registering a CAGR of 5.5% over the forecast period from 2018 to 2026, according to SCADA Market Report, by Offering Type (Hardware, Software, and Services), by Component  Type (Human-Machine Interface, Communication System, Remote Terminal Units, and Others), by Applications (Oil & Gas, Automotive & Transport, Electric Power, Food & Beverages, Manufacturing, Pharmaceuticals, and Water & Waste Water Management), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights.

Major players operating in the global SCADA market include, ABB Ltd., Hitachi Ltd, Emerson Electric Co., Alstom, International Business Machines Corporation, Honeywell International Inc., Schneider Electric, Rockwell Automation, Inc., JFE Engineering Corporation, Iconics, Inc., Mitsubishi Electric Corporation, and others.

Significant growth in sectors such as oil and gas, automotive and transport, electric power, food and beverages, and water and waste water is expected to contribute to growth of the global SCADA market. These solutions enable enterprises to automate their business operations, offer remote and better control over processes, and help in data acquisition and monitoring, which aids to enhance overall business performance. Moreover, these technologies help industries to enhance human-machine interface (HMI). HMI is a part of SCADA, which communicates with programmable logic controllers (PLC) or I/O sensors to generate and display data on the screen.

North America held dominant position in the global SCADA market in 2017, and is expected to retain its dominance throughout the forecast period. Rapid digital transformation and increasing use of connected devices are some of the major factors that drive growth of the SCADA market in North America. Moreover, presence of major software providers such as Honeywell International Inc., Emerson Electric Co., Rockwell Automation, Inc., and General Electric is also expected to propel demand for SCADA in the region

Browse more about this report @ https://www.coherentmarketinsights.com/market-insight/supervisory-control-and-data-acquisition-market-2158

Hardwired part of SCADA systems are being replaced by wireless communication systems in several organizations, which aids in cost reduction. Rapid shift of organizations towards advance technologies, growing smart grid industry, and increasing investment by key stakeholders in the energy sector is also expected to propel growth of the SCADA market in Asia Pacific. US$ 101 billion investment is expected over the forecast period for smart grid technology development in China and 360 million smart meters are expected to be deployed by 2030 (JRC Smart Electricity Systems and Interoperability, 2017).

Among component type, the human-machine interface (HMI) segment held dominant position in the market in 2017, and is expected to retain its dominance during the forecast period. The growth of Industry 4.0 has resulted in rapid demand for HMI to modify an industrial process by digitizing and centralizing the data. The integration of HMI in the process helps the operator to see important information displayed with the graph, charts or digital dashboard and manage the process. Moreover, the connection of PLC with HMI to communicate real time data on display helps to reduce various operational costs and human errors.

 

Media Contact
Company Name: Coherent Market Insights
Contact Person: Mr. Shah
Email: Send Email
Phone: +1-206-701-6702
Address:1001 4th Ave, #3200
City: Seattle
State: Washington
Country: United States
Website: https://www.coherentmarketinsights.com/market-insight/supervisory-control-and-data-acquisition-market-2158