June 25, 2024
The Supervisory Control and Data Acquisition (SCADA) Market

The Global Supervisory Control and Data Acquisition (SCADA) Market is driven by Increasing Demand from Oil & Gas Industry

Supervisory control and data acquisition (SCADA) refers to industrial control systems (ICS) that enable monitoring and control of industrial, infrastructure, or facility-based processes. SCADA systems are used to remotely monitor, gather, and process real-time data in various processes such as manufacturing, production, transportation and distribution. They collect field data, transfer it to a central database and allow remote management and control of equipment from one or more operator interfaces. SCADA systems offer various advantages to users such as remote monitoring and control, data logging, real-time graphing, alarming capabilities and flexible IT architecture among others. The demand for such systems is increasing across various industries like oil & gas, power, water & wastewater treatment, manufacturing etc. for gaining operational efficiency and reducing costs.

The global SCADA market is estimated to be valued at US$ 15.2 billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Integration of Artificial Intelligence & Predictive Analytics: Vendors are increasingly incorporating advanced technologies like machine learning, predictive analytics and artificial intelligence capabilities into SCADA systems. This enables advanced data analytics, anomaly detection and predictive maintenance of industrial assets. AI-driven capabilities help optimize processes, reduce downtime, enhance productivity and minimize costs. For instance, OSIsoft’s PI System combines supervisory control with advanced machine learning algorithms to identify patterns, enable predictive maintenance and optimize plant operations.

The Global Supervisory Control and Data Acquisition (SCADA) Market is driven by Increasing Demand from Oil & Gas Industry Supervisory control and data acquisition (SCADA) refers to industrial control systems (ICS) that enable monitoring and control of industrial, infrastructure, or facility-based processes. SCADA systems are used to remotely monitor, gather, and process real-time data in various processes such as manufacturing, production, transportation and distribution. They collect field data, transfer it to a central database and allow remote management and control of equipment from one or more operator interfaces. SCADA systems offer various advantages to users such as remote monitoring and control, data logging, real-time graphing, alarming capabilities and flexible IT architecture among others. The demand for such systems is increasing across various industries like oil & gas, power, water & wastewater treatment, manufacturing etc. for gaining operational efficiency and reducing costs.

Porter’s Analysis

Threat of new entrants: Low as significant investments are required in R&D, infrastructure development and marketing to gain customer trust.

Bargaining power of buyers: Moderate to high as large buyers can negotiate discounts and have in-house capabilities.

Bargaining power of suppliers: Moderate as there are many component providers in the market.

Threat of new substitutes: Low as no direct substitute to SCADA systems exist currently.

Competitive rivalry: High as major players compete on innovation, quality and pricing.

Key Takeaways

The Global Supervisory Control and Data Acquisition (SCADA) Market Size is expected to witness high growth. The global SCADA market is estimated to be valued at US$ 15.2 billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.

The market in North America is the largest and is expected to continue dominating during the forecast period due to rapid infrastructure development and automation across industries. The Asia Pacific region is anticipated to be the fastest growing market due to rising foreign investments and increasing adoption across industries in emerging economies like China and India.

Key players operating in the SCADA market are Schneider Electric, ABB, Siemens, Emerson, Rockwell Automation, General Electric, Honeywell, Yokogawa, Omron, and Alstom. The major players are focusing on strategic collaborations and new product launches to maintain their leading positions in the market. For instance, in 2021, Siemens acquired Open Systems International, Inc. to strengthen its digital grid capabilities for utilities sector.

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