June 18, 2024
Supervisory Control And Data Acquisition Market

The Global SCADA Market Is Positioned For High Growth Owing To Rising Cyber Threats

The supervisory control and data acquisition (SCADA) market facilitates operation, monitoring, and controlling industrial infrastructure. SCADA systems integrate hardware and software components enabling real-time data monitoring and control of dispersed assets like pipelines, power generation plants, and manufacturing processes. Efficient process optimization, predictive maintenance, and performance monitoring are key advantages of adopting SCADA solutions. With growing digitalization of critical infrastructure worldwide, there is a pressing need for robust monitoring and security of industrial control systems from cyber threats.

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 of 2024 to 2030.

Key Takeaways

Key players operating in the SCADA market include 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. Growing investments into digitalization of critical infrastructure along with the need for remote monitoring will open key opportunities in the market. Additionally, expanding adoption across developing regions of Asia Pacific and Latin America will further aid the global expansion of the SCADA market over the forecast period.

Market Drivers

The growing threat of cyber-attacks on industrial control systems has necessitated advanced security provisions for critical infrastructure. Rising security breaches targeting utilities, transportation, and manufacturing have highlighted the need for robust SCADA security solutions. Investments into modernizing aging infrastructure with integrated monitoring will further propel the demand for SCADA systems. Adoption of industry 4.0 technologies is also expected to drive the need for real-time data insights through integrated SCADA platforms.

PEST Analysis

Political: Regulations related to cyber security will positively impact the market as more secure systems will be required. Standards for critical infrastructure cybersecurity will boost demand.

Economic: Investments in upgrading aging infrastructure will generate demand for SCADA systems in utilities sector. Global economic growth leading to increased energy needs will drive the oil and gas sector.

Social: Focus on efficient energy management and reduced downtimes will influence end users to adopt newer technologies. Growing concerns around safety and security of operations will propel the market.

Technological: Increasing connectivity due to IoT will widen the scope of deployment. Adoption of cloud, analytics along with increased automation and remote operations will support market growth.

The Supervisory Control and Data Acquisition (SCADA) Market in terms of value is highly concentrated in North America due to large-scale investments in upgrading industrial infrastructure, pipelines and plant optimization projects. Asia Pacific region is poised to be the fastest growing market stimulated by government initiatives for smart cities and investments dedicated for modernization of critical utilities sector in large economies like China and India. Factors like growing population, rapid urbanization and industrialization are driving the demand in Asia Pacific region.

The SCADA market in Latin America is also expected register above global average growth during the forecast period led by increasing explorations and production activities in oil and gas industry across countries like Brazil and Argentina. Government initiatives for smart grid and water management projects are contributing to the Latin America market. Ongoing investments towards upgrading aging distribution systems and network expansions will further support the market growth in this region.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it