According to the latest report by IMARC Group, titled “SCADA Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market. The SCADA industry research report also includes competitor and regional analysis, and contemporary advancements in the market. The global SCADA market size reached US$ 20.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.
SCADA Market Overview :
Supervisory control and data acquisition (SCADA) is a type of software system used to monitor and control industrial processes and infrastructure. It is commonly used in the field of power generation, water treatment, oil and gas, and manufacturing. It is designed to provide real-time data and control capabilities for critical processes and equipment, enabling operators to make informed decisions and respond quickly to changes in the system. It consists of two main components, including the SCADA server and the remote terminal units (RTUs) or programmable logic controllers (PLCs) that are connected to the system’s sensors and actuators. It is gaining widespread prominence across the globe due to its ability to remotely monitor and control processes from a central location.
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Global SCADA Market Trends:
The global market is primarily driven by the increasing demand for automation in various industries. This can be attributed to rapid digitization and the penetration of high-speed internet connectivity. Along with this, the growing need for better operational efficiency is providing a boost to the uptake of SCADA systems. SCADA systems as they enable industries to monitor and control processes remotely, reducing the need for on-site personnel.
Moreover, the widespread popularity of SCADA systems to monitor and control renewable energy systems, ensures that they operate efficiently and safely is creating a positive market outlook. Furthermore, the rising concern regarding safety and security is propelling the demand for SCADA systems in industries, such as oil and gas and water treatment, further acting as a growth-inducing factor.
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