SCADA Market Competitive Landscape, Recent Development and Overview by 2030
The SCADA market is anticipated to surpass USD 85 billion in revenue by 2030. Industry is displaying a steady recovery from the downfall witnessed during the COVID-19 pandemic due to disruptions in manufacturing processes. The resumption of business operations as a result of shifting consumer preferences and lifestyle changes, along with declining cases, has, however, augmented the consumption of premium commodities, automotive products, and advanced vehicles, thereby proliferating the demand for SCADA systems among operators to access actionable data.
The SCADA market technology is utilized in electricity generation, water management, insulation in buildings, the oil & gas space, and the food & beverage industry, among others. Furthermore, burgeoning demand for automated technologies has pushed the penetration of such technologies for managing production processes, especially in the oil & gas sector, which provides operators the ability to monitor pipelines and gas well production.
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The end of the COVID-19 pandemic brought prominent changes in the R&D outlook across the healthcare sector. The growing awareness among firms has boosted the uptake of SCADA market systems in the manufacturing and industrial sectors. Many industry players have been innovating new products to offer increased efficacy to consumers, which is slated to impel business growth.
For instance, in October 2022, Delta Electronics Inc., a Taiwanese manufacturing company, upgraded two of its products, including its DIAView SCADA market software version V3.7, and announced the integration of Industrial PPCs to its DIAVH series. The combination of the two products is set to deliver easy connectivity of IIoT and improve performance by extending the existing 4GB RAM with an additional 8GB of RAM.
The mounting need for effective software that provides real-time data and delivers high performance has encouraged varied emerging nations to adopt SCADA market systems for power generation facilities. The supervisory control and data acquisition systems assist operators in decreasing downtime while allowing proactive maintenance, which is increasing the use of SCADA software in these facilities.
To cite an instance, in July 2022, Madan Singh Dabur, Engineer in Chief of the Water Resource Department of India, announced the installation of the SCADA system under the National Hydrology Project at Tawa Dam and Barna Dam. This installation was intended to provide real-time information as well as support remote monitoring of water levels and make dam management more transparent.
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Burgeoning initiatives undertaken by governments for improving infrastructural connectivity with digital technology have fostered the SCADA market outlook in the construction sector. Many developed countries are installing software to boost the operational quality of public service facilities and buildings, thereby investing heavily in the installation of these systems.
For instance, in September 2022, the Government of Denmark invested around USD 9.2 million in a system manufactured by AFRY, an engineering and design specialist, in the construction of the Nordhavn tunnel. This tunnel is one of the largest infrastructure projects in Copenhagen, wherein the SCADA system would offer high-level supervision to acquire information & data regarding incidents, technical errors, and safety protocols.
Global SCADA Market growth will be positively affected by the notable presence of reputed organizations, such as ABB Ltd., Emerson Electric Co., Siemens AG, Rockwell Automation, Inc., Schneider Electric SE, Omron Corporation, Yokogawa Electric Corporation, Mitsubishi Electric, Honeywell International Inc., and Toshiba Infrastructure Systems & Solutions Corporation.
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