PUBLISHER: KBV Research | PRODUCT CODE: 1529167
PUBLISHER: KBV Research | PRODUCT CODE: 1529167
The Global SCADA Market size is expected to reach $62.2 billion by 2031, rising at a market growth of 7.4% CAGR during the forecast period.
Manufacturing operations require precise control over various processes such as production, assembly, packaging, and quality assurance. SCADA systems enable automation of these processes by monitoring parameters such as temperature, pressure, flow rates, and machine status in real-time. This automation improves operational efficiency, reduces human error, and ensures consistent product quality. Thus, the manufacturing segment generated 10% revenue share in the market 2023.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June 2023, Siemens Digital Industries announced the partnership with Intrinsic, an Alphabet company to integrate Intrinsic's AI-based robotics software with Siemens' automation technology. This partnership aims to enhance industrial production by leveraging Intrinsic's open robotics approach and Siemens' interoperable automation solutions. Additionally, In May, 2024, Honeywell announced the partnership with Weatherford, a leading global energy service, to create an advanced emissions management solution for the energy sector. This partnership aims to combine Honeywell's emissions management suite with Weatherford's Cygnet SCADA platform, enabling effective monitoring, reporting, and reduction of greenhouse gas emissions and other hazardous gases.
Based on the Analysis presented in the KBV Cardinal matrix Siemens AG and General Electric Company are the forerunners in the SCADA Market. Companies such as Honeywell International, Inc., ABB Group, Schneider Electric SE are some of the key innovators in SCADA Market. In March, 2024, ABB Robotics teamed up with Mettler Toledo's, LabX software. This collaboration aims to improve efficiency and quality in automated laboratory workflows across industries such as pharmaceuticals, chemicals, food and beverage, semiconductors, and batteries, according to Control Design.
Market Growth Factors
SCADA systems enable automation, reducing the need for manual intervention. Automated systems can operate continuously without human error, improving overall efficiency and productivity. SCADA provides real-time data monitoring and analysis, allowing operators to make informed decisions quickly.
Additionally, many infrastructure projects today are aligned with sustainability goals, such as reducing carbon emissions, improving resource efficiency, and enhancing environmental sustainability. SCADA systems contribute by enabling efficient monitoring and management of sustainable infrastructure practices. Thus, growing infrastructure development worldwide is driving the growth of the market.
Market Restraining Factors
Essential for data acquisition and control, these devices can be costly, especially in large-scale operations. Computers and Servers: High-performance computing equipment is needed to process and store vast amounts of data. Robust and reliable networking components are necessary to ensure seamless communication across the SCADA system. Companies may be hesitant to invest heavily in new technology without a guaranteed return. Hence, high initial costs are hampering the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
Component Outlook
On the basis of components, the market is classified into human machine interface (HMI), programmable logic controller (PLC), remote terminal unit (RTU), communication systems, and others. In 2023, the remote terminal unit (RTU) segment registered 38% revenue share in the market. As industries continue to automate their operations, there is a growing need for RTUs that can monitor and control remote equipment and processes.
Offering Outlook
Based on offering, the market is divided into software, hardware, and services. The software segment attained 35% revenue share in the market in 2023. SCADA software incorporates advanced data analytics tools that analyze historical and real-time data to identify trends, patterns, and anomalies.
Vertical Outlook
By verticals, the market is divided into oil & gas, energy & power, water & wastewater, manufacturing, transportation, pharmaceuticals & chemicals, telecommunication, food & beverages, and others. In 2023, the oil & gas segment registered 24% revenue share in the market. The oil and gas industry involves multifaceted processes, including exploration, drilling, extraction, transportation, refining, and distribution.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region generated 31% revenue share in the market. North America, particularly the United States and Canada, has a well-established and advanced industrial infrastructure.
Market Competition and Attributes
The SCADA (Supervisory Control and Data Acquisition) market is highly competitive, driven by advancements in automation, IoT integration, and demand across industries like energy, manufacturing, and utilities. Key attributes include scalability, real-time monitoring, and data analytics capabilities. Major players, such as Siemens AG, ABB Ltd., and Schneider Electric, dominate with comprehensive solutions that cater to complex industrial needs, emphasizing cybersecurity and interoperability to meet evolving market demands.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global SCADA Market Report Segmentation
By Component
By Offering
By Vertical
By Geography