Chicago, June 13, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "SCADA Market by Offering (Hardware, Software, Services), Component (Programmable Logic Controller, Remote Terminal Unit, Human‒Machine Interface, Communication System), End User, and Region - Global Forecast to 2026", the global SCADA market size was valued at USD 9.2 billion in 2021 and is projected to reach USD 13.2 billion by 2026; it is expected to grow at a CAGR of 7.6% from 2021 to 2026. The key factors fueling the growth of this market include increased adoption of Industry 4.0 solutions using SCADA systems, high demand for industrial mobility solutions for efficient management of process industry, and use of software platforms such as IoT and artificial intelligence.

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RTU segment expected to lead the SCADA market in 2021

The RTU component is expected to account for the largest share of market during the forecast period. An RTU in a SCADA system is an electronic device and one of its core components. It is used for collecting data, coding it into a transmittable format, and then transferring it to the main system. Several RTUs are equipped in a SCADA system for this purpose. Deep-sea exploration and extraction, along with shale gas, also contribute to the rising demand for RTUs, as oil & gas is the major end-user industry of SCADA systems.

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SCADA market in APAC contributed the largest share in 2020.

APAC is the production hub for automation technologies due to the presence of major companies such as Yokogawa Electric, Mitsubishi Electric, and OMRON. Renewable energy, smart grids, water & wastewater, and transportation sectors are expected to drive the growth of the SCADA market in APAC. Automation is increasing in APAC because of the rising necessity for high-quality products, along with increased production rates.

Top Key Players in SCADA Market:

• Schneider Electric,
  
• Emerson Electric,
  
• Rockwell Automation,
  
• ABB, Siemens,
  
• Honewell International,
  
• Mitsubishi Electric

Process industry is expected to account for the largest share of the SCADA market during 2021–2026. The rate of adoption of SCADA systems is high in process industries owing to the rising pressure on manufacturers to optimize the cost and production processes. Increasing demand for real-time visibility of complex operations in industries such as oil & gas, chemicals, pharmaceuticals, metals and mining, and food & beverages is expected to drive the demand for SCADA systems in the process industry.

APAC is projected to hold the largest share of the SCADA market during the forecast period. APAC is the production hub for automation technologies due to the presence of major companies such as Yokogawa Electric, Mitsubishi Electric, and OMRON. Renewable energy, smart grids, water & wastewater, and transportation sectors are expected to drive the growth of the SCADA market in APAC. Automation is increasing in APAC because of the rising necessity for high-quality products, along with increased production rates.

Related Reports:

Manufacturing Execution System (MES) Market by Offering (Software, Services), Deployment, Organization Size, Process Industry (Food & Beverages, Pharmaceuticals & Life Sciences), Discrete Industry, Geography (2021-2026)

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