Supervisory Control and Data Acquisition Market Is Projected to Grow at a CAGR of 8.01% By 2031
Rise in infrastructural expenditure and growing demand
for automation is expected to drive the demand for global supervisory control
and data acquisition market in the forecast period 2027-2031.
According to TechSci Research report, “Supervisory
Control and Data Acquisition Market by Industry Size, Share, Trends, Growth and
Forecast 2021-2031”, The Global Supervisory Control and Data Acquisition
Market will grow from USD 14.06 Billion in 2025 to USD 22.32 Billion by 2031 at
a 8.01% CAGR.
Supervisory control and data acquisition system captures the
data from distant devices and allows the central computer to monitor and
control the process for a particular location. The adoption of these systems
for monitoring and controlling purpose reduces the efficiency of the
organization and meanwhile reduces the extra operational costs. The growing
demand for wireless sensor networks from prominent industry verticals such as
oil and gas are driving the growth of the market.
Oil & gas plants are located in remote areas and have
harsh climatic conditions and the various elements of oil & gas plants such
as compressors, generators, tanks are monitored, controlled, and managed by the
supervisory control and data acquisition system. The rapid development and
software up-gradation of the existing software systems of wireless sensor
networks are making them compatible with the advanced automated systems in
several industries.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected several
countries adversely. Leading authorities around the world-imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. Manufacturing units were temporarily shut down which
affected the market growth adversely. Workers moved back to their native places
which led to the shortage of workforce at the manufacturing units. Disruption
in the supply chain along with the restrictions imposed on the import and
export activity along with the cross-border trade impacted the market growth
negatively.
However, the fluctuation in the prices of oil which is
directly impacting the capital investments and the chances of cyber-attacks may
restrain the growth of the global supervisory control and data acquisition
market.
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TOC on "Supervisory Control and Data Acquisition Market”.
Global supervisory control and data acquisition market is
segmented offering, component, type, application, regional distribution, and
company.
Based on the component, the market can be divided into
remote terminal unit, programmable logic controllers, human machine interface,
and communication system. The remote terminal unit segment is expected to
dominate the market in the forecast period, 2022-2206 as it is one of the core
electronic components of the supervisory control and data acquisition systems.
It collects the data and converts it into the transmittable format and then
transfers it to the main system. The high demand from the oil & gas industry
for the extraction and exploration of shale gas and others is fueling market
growth.
Based on offering, the market is divided into hardware,
software, and services. The hardware segment is expected to hold the largest
market share in the forecast period owing to the high cost of installing
advanced hardware components.
Based on applications, the market can be divided into manufacturing, energy
& utility, oil & gas, chemical & petrochemicals, transportation,
telecom, and others. The energy and utility segment are expected to witness
growth in the next five years owing to the rise in energy requirements across
the globe and the growth in awareness about the adverse effects of conventional
fuels and the adoption of non-conventional sources of energy.
IBM Corporation, Omron Corporation, Schneider Electric
SE, Rockwell Automation Inc., Siemens AG, General Electric Company, Cisco
Systems, Inc, ABB Ltd., Alstom SA, Honeywell International Inc. are the
leading players operating in global supervisory control and data acquisition
market. Service Providers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several
supervisory control and data acquisition providers are coming up with their
technologically advanced offerings.
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“High-end investments by the market players for
technological advancement of the existing infrastructure and the rise in
adoption of advanced technologies such as artificial intelligence, internet of
things, amongst others to improve the efficiency and production of the
industries is contributing to the market growth. The increasing demand for
smart factories which can provide the real-time analysis and provide the
monitoring facility and also can predict the need and time for maintenance and
other necessities required to efficiently run the organization is expected to
propel the supervisory control and data acquisition market till 2026” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Supervisory Control and Data Acquisition Market By
Offering (Hardware, Software, and Services) By Component (Remote Terminal Unit,
Programmable Logic Controllers, Human Machine Interface, Communication System)
By Type (First Generation, Second Generation, Third Generation, Fourth
Generation) By Application (Manufacturing, Energy & Utility, Oil & Gas,
Chemical & Petrochemicals, Transportation, Telecom and Others), By Region,
Company Forecast & Opportunities, 2021-2031F” has evaluated the future
growth potential of global supervisory control and data acquisition market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the of global supervisory control and data
acquisition market.
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