by The Supervisory Control and Data Acquisition (SCADA) market allows for centralized monitoring and control of infrastructure and industrial processes. SCADA systems collect real-time data from remote devices through various communication channels and protocols and deliver this information to a central hub for monitoring and control. They help reduce maintenance costs through remote diagnosis and control of equipment in industries such as oil & gas, transportation, water management, and utilities.
The Global SCADA Market is estimated to be valued at US$ 132.04 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the SCADA market are B. Braun Melsungen AG, Becton, Dickinson and Company, ICU Medical, Inc., Poly Medicure Ltd., Teleflex Incorporated, Lepu Medical Technology Co., Ltd., Cook Group, Insung Medical,. VOGT Medical, ZOLL Medical Corporation, EETA Surgical, QMD, and Kimal. Key players like GE provide both hardware and software for various SCADA applications.
The growing demand from industries such as oil & gas, water management and power generation is driving the SCADA market growth. SCADA systems help improve productivity, optimize processes and reduce downtime in these industries.
The SCADA Market is expanding globally due to increasing investments in infrastructure development and modernization of existing assets across developing regions of Asia Pacific, Middle East, and Latin America. Countries are widely adopting SCADA solutions for monitoring and control of industrial assets and critical infrastructure.
Market Key Trends
The increasing use of cloud and Internet of Things (IoT) in SCADA systems is one of the key trends in the market. Cloud-based SCADA solutions offer benefits such as reduced infrastructure and maintenance costs, easy scalability, mobile accessibility, and data sharing between distributed sites. Integration of IoT provides an opportunity to remotely monitor more equipment and assets, gather real-time field data, enable predictive maintenance and optimize processes. This trend isexpected to drive significant growth in the SCADA market over the forecast period.
Porter’s Analysis
Threat of new entrants: New players find it difficult to enter this market as it requires high initial investments and established distribution channels.
Bargaining power of buyers: Buyers have lower bargaining power as there are many established players offering a variety products to choose from.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials required are commodity chemicals and are available from multiple sources.
Threat of new substitutes: Threat of substitution is low as there are limited product alternatives available that can provide similar functionality.
Competitive rivalry: Competition is high among existing players to gain higher market share by improving product quality and reliability through continuous innovation.
North America holds the largest market share in the SCADA market due to established oil and gas industry and increasing infrastructure development activities in the region. The Asia Pacific region is expected to witness the fastest CAGR over the forecast period due to growing food processing, water and wastewater treatment industries and rapid urbanization in countries like China and India.
