The SCADA market has experienced strong growth, rising from $11.87 billion in 2023 to $12.74 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.3%. This growth is attributed to the needs for industrial automation, critical infrastructure monitoring, efficiency improvements, regulatory compliance, and enhanced operational visibility. The market is expected to continue growing, reaching $17.76 billion by 2028, with a CAGR of 8.7%. Future growth drivers include IoT and big data analytics integration, cybersecurity enhancements, renewable energy expansion, smart city initiatives, and increased remote monitoring and control demands. Major trends in the forecast period include mobile SCADA applications, open standards emphasis, renewable energy integration, remote monitoring and control solutions, and advancements in water and wastewater management.
Major Driver In The SCADA Market
The expansion of the oil and gas sector is expected to drive the growth of the SCADA market. The oil and gas industry, covering exploration, development, extraction, refining, and distribution of hydrocarbons, relies on SCADA (Supervisory Control and Data Acquisition) software to monitor and control pipelines and remotely measure gas well production. As per the World Oil Outlook report by OPEC, global primary energy demand is projected to rise by 23% by 2045, with global oil consumption expected to reach around 110 million barrels per day in 2045. Refining capacity is also forecasted to be 15.5 million barrels per day between 2022 and 2045. This growth in the oil and gas sector is a significant driver for the SCADA market in 2023, 2024, and 2028.
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SCADA Market Competitive Landscape
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.
Key SCADA Market Trend
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.
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SCADA Market Segmentation
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
By Geography:The regions covered in the scada market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the SCADA market in 2023.
The SCADA Global Market Report 2024 furnishes information about the global scada market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
