The 2023 report on the “SCADA Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global SCADA Market is valued approximately at USD 11.00 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.70% over the forecast period 2020-2027. Supervisory Control and Data Acquisition (SCADA) is referred as a system of software and hardware elements that provides industrial organizations to gather, monitor and process real-time data etc.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw1623
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Also, it provides services of direct interaction with devices in an organization including valves, sensors, pumps and motor with the help of human machine interface software and record events into log files to the end users such as oil & gas, power generation, telecommunication, pharmaceuticals, and manufacturing etc. SCADA plays essential role in industrial automation to efficiently monitor & control various processes indulged in manufacturing & processing sector thereby rapid growth in industrial automation is the factor driving the growth of market over the forecast years.
For instance: According to the International Federation of Robotics (IFR), the globally usage of industrial robots are growing with 14% every year and projected to increase by 630,000 units by 2021 from 421,000 in 2018. Asia and Australia are the biggest users of industrial robots as per IFR, and over 60% of world industrial robots are used in these regions. As per International Federation of Robotics (IFR), China is the largest user of industrial robots with over 137,000 units followed by Japan with over 45,000 units. Similarly, revenue from internet of things in Asia Pacific region was over USD 666.54 billion and increased to USD 758.82 billion by 2019.
As per the study by General Electronics 2018, sector-wise break-up of manufacturing shows that dependency on industrial IoT applications is the highest in Power and energy sector with 64%, followed by aviation & aerospace and utilities that is 62% and 58% respectively. Additionally, rapid growth in power generation across the globe is the factor propelling the growth of market over the forecast years. However, high capital requirement for installation and maintenance of SCADA system is hampering the growth of market over the forthcoming years.
The regional analysis of global SCADA Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rapid growth in adoption of SCADA in various end use industries. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as introduction of 5G technologies in industrial sector and growing production of renewable energy would create lucrative growth prospects for the SCADA Market across Asia-Pacific region.
Major market player included in this report are:
ABB
Emerson Electric
Rockwell Automation
Schneider Electric
Siemens
Download Free Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw1623
General Electric
Honeywell International
Omron
Yokogawa Electric
Willowglen Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component Components of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Human Machine Interface
Remote Terminal Unit
Programmatic Logic Controller
Communication system
Others
By Architecture:
Hardware
Software
Services
By Industry:
Oil & gas
Power & Energy
Water & wastewater
Transportation
Telecommunication
Chemicals
Pharmaceuticals
Food & Beverage
Manufacturing
Others
By Region:
North America
U.S.
To Get More Business Strategies For Request Sample Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw1623
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Dynamics:
- Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
- Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
- Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
- Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
- Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
- Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
- Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
- Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
- Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
Request Full Report- https://reportocean.com/industry-verticals/sample-request?report_id=bw1623
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1888 212 3539 (US – TOLL FREE)
Website:https://reportocean.com