SCADA Market To Generate $16,994 Million Revenue by 2030

The SCADA market size is expected to advance at a CAGR of 7.4% during 2022–2030, to reach USD 16,994 million by 2030. This can be ascribed to the rapid growth in big data and analytics, increased demand for reduction in loss of materials and cost-optimized solutions, and surge in the need for real-time fault detection in machinery.

Moreover, a control system, known as SCADA, is created by combining hardware and software to create automation technology. Supervisors use a system's data about processes and related equipment to control and improve operations. This system can be contained within a single facility or spread out across multiple locations, sometimes over a large area. Petrochemical facilities, drinking water delivery systems, wastewater collection systems, assembly lines, and a variety of other industrial processes all make use of this system extensively.

Automotive Category Dominates the Industry

Based on end user, the market is categorized into electrical power, water & wastewater, oil & gas, transportation, manufacturing, automotive, chemicals, pharmaceuticals, telecommunication, food & beverages, and others. Among these, the automotive category held the largest revenue share in 2022. This is due to the rising demand for real-time data to monitor and control manufacturing processes and industrial equipment, as well as the increasing adoption of SCADA solutions in automotive manufacturing and process facilities to improve efficiency and productivity and reduce human workload.

Multiple PLCs in automotive manufacturing plants are used for running conveyors and handling assemblies and painting robots. SCADA-trained technicians, integrators, and electrical engineers using laptops can troubleshoot any operating-related problems within the processes. They can also help manage all these control systems requiring the ability to track and analyze real-time data.

In addition, new SCADA software and solutions are being developed precisely for the automotive sector to optimize production and quality and cut down on unplanned downtime. Additionally, the acceptance of industrial robots, industrial control systems, and machine vision systems, by automobile companies will boost the market expansion in this category.

Rapid Growth in Big Data and Analytics

SCADA systems' efficiency has increased as a result of big data analytics, creating numerous new market opportunities. Analytical software solutions help businesses reduce errors and make better decisions. As a result, more and more companies are incorporating these technologies into decision-making strategies. Moreover, vendors of advanced process controls, supervisory controls, and data acquisition systems have begun to incorporate analytics tools into their offerings. The data can be gathered from mobile applications, social networks, websites, product purchases, questionnaires, and other sources.

Big data can be used by a company's marketing and sales, human resources, and other departments for a variety of purposes. Big data can also be used to speed up the market entry of products, reduce the amount of time and money needed for market acceptance, and improve customer satisfaction.

Not only big data has gained popularity and traction among businesses, as a result of these applications, but it is also experiencing rapid expansion. In addition, it is projected that software development firms will concentrate their big data mining efforts on dispersed data structures brought by inconsistent data or data silos. Wide data is a type of data that expands the scope of big data. At least one of the big data workloads is currently being run in the cloud by 45% of businesses worldwide.

Mergers and Acquisitions Are Key Strategic Developments Taken by Players

To improve their positions in the market, companies are adopting merger and acquisition strategies. For instance, in December 2021, Inframark LLC acquired MR Systems Inc., which specializes in providing automation, process controls, instrumentation, and SCADA systems, for the municipal water and wastewater sector.

The major SCADA market players are Schneider Electric S.E., ABB Ltd., Hitachi Ltd., Toshiba Infrastructure Systems and Solutions, Emerson Electric Co., Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Omron Corporation, Siemens AG, Rockwell Automation Inc., and Honeywell International Inc.