SCADA Industry to Witness 10.8% Growth, Reaching $19.91 Billion by 2029
The scada market size is expected to see rapid growth in the next few years. It will grow to $19.91 billion in 2029 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to integration with IoT and big data analytics, focus on cybersecurity measures, renewable energy expansion, smart city initiatives, remote monitoring and control demands. Major trends in the forecast period include mobile SCADA applications, emphasis on open standards, renewable energy integration, remote monitoring and control, water and wastewater management.
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Which major factors have contributed to the expansion of the scada market?
The growth of the oil and gas sector is expected to propel the growth of the SCADA market. The oil and gas sector refers to the sector of industry focused on the exploration, observations, development, drilling, production, extraction, refining, distribution, and transportation of hydrocarbons from the oil rigs to the consumers. In the oil and gas industry, SCADA software monitors and controls pipelines, and measures gas well production remotely. It offers asset optimization with greater visibility of the field and enhances safety by streamlining the process. For instance, in October 2022, according to the World Oil Outlook report published by OPEC (Organization of the Petroleum Exporting Countries), an Austria-based intergovernmental organization for oil, global primary energy demand is expected to rise by 23% by 2045. Furthermore, global oil consumption is expected to rise from about 97 million barrels per day (mb/d) in 2021 to around 110 million barrels per day (mb/d) in 2045, with refining capacity is expected to be 15.5 million barrels per day (mb/d) between 2022 and 2045. Therefore, the growth of the oil and gas sector is expected to propel demand for the SCADA market.
How is the scada market segmented?
The SCADA market covered in this report is segmented –
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
Subsegments:
1) By Hardware: Remote Terminal Units (RTUs), Programmable Logic Controllers (PLCs), Human-Machine Interface (HMI) Devices, Communication Equipment
2) By Software: SCADA Software Applications, Visualization Software, Data Management Software, Security Software
3) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training Services
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Who are the top competitors in the scada market?
Major companies operating 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, Advantech Co Ltd., Parametric Technology Corporation., Schweitzer Engineering Laboratories Inc., B&R Industrial Automation GmbH, Wunderlich-Malec Engineering GmbH, Inductive Automation LLC, Tesco Controls LLC, COPA-DATA GmbH, NovaTech Automation Corporation, Elynx Technologies LLC, Intouch Insight, Iconics Inc., Progea S.r.l., Trihedral Engineering Limited, VTScada Systems Inc.
Which key trends are expected to influence the scada market in the coming years?
Product innovations have emerged as a key trend gaining popularity in the SCADA market. Major companies operating in the SCADA market are focusing on product innovations to strengthen their market position. For instance, in October 2022, Emerson Electric Co., a US-based manufacturer and provider of engineering services and products for industrial, commercial, and consumer markets, launched an advanced automation platform, Movicon.NExT 4.2. It offers a simple interface that links to any field device, control system, or enterprise system, providing users and original equipment manufacturers (OEMs) with the data and insights required to achieve operational excellence. It is quick, secure, and efficient, and it provides superior performance, rapid application development, and enhanced connectivity.
Which regional trends are influencing the scada market, and which area dominates the industry?
The countries covered in the scada market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The SCADA Market Report 2025 Offer?
The scada market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
SCADA stands for supervisory control and data acquisition, which is a system software program used to handle industrial processes by acquiring data in real-time from remote places in order to regulate equipment and conditions. It assists the industrial organization with the tools they need to develop and implement data-driven choices about its industrial processes.
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