Pune, India, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The SCADA market is expected to gain momentum from its increasing usage in a wide range of applications, such as telecom & IT, electric & gas utilities, and manufacturing for supervisory process management. Its full form is Supervisory Control and Data Acquisition. This information is given by Fortune Business Insights™
The report further mentions that the SCADA system consists of Human Machine Interface (HMI) software solution. It delivers direct interaction of the end-user with devices such as motors, sensors, valves, and pumps. The data is then recorded for future analysis.
Key Industry Development:
- April 2019: Yokogawa Electric Corporation introduced FAST/TOOLS R10.04, its newest visualization and operational management software. It would provide flexibility to implement the system within novel IoT-enabled applications.
- May 2018: Schneider Electric joined hands with Temasek to purchase the Electrical & Automation business of Larsen & Toubro. The companies will blend the new business with Schneider’s Low Voltage & Industrial Automation Products business.
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This Report Answers the Following Questions:
- What are the drivers, dynamics, and obstacles in the market?
- Which segment is set to dominate in terms of share?
- Which strategies would the key players adopt in the coming years?
- How will the COVID-19 affect the market in the near future?
The emergence of the COVID-19 pandemic has brought about huge losses for several industries across the globe. Their production processes are currently at halt owing to stringent lockdown policies by the governments of various countries. Our reports would provide in-depth information about the effects of this pandemic on every possible market and the strategy that you can adopt to increase sales.
Drivers & Restraints-
High Demand from Gas & Hydraulic Industries to Boost Growth
The SCADA system is capable of redirecting power from one location to the other and hence, it is experiencing high demand worldwide. Several industries are adopting this system owing to its downtime, processing automation, data analysis, and efficiency. Apart from that, the increasing need for reducing the loss of cost-optimized solutions and materials from manufacturing, water & wastewater processing plants, as well as oil and gas industries would also contribute to the SCADA market growth in the near future. In addition to this, SCADA systems are nowadays adopted more in the hydraulics and gas industries for recognizing faults in machinery in real-time. However, the rising threats of cyberattacks may hamper the market growth.
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| Segmentation | By Component
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By Application
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By Geography
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Regional Analysis-
Increasing Usage of SCADA Systems by Power Operators to Favor Growth in North America
The market in Mexico, Canada, and the U.S. would grow exponentially backed by the increasing demand for cloud-based infrastructure and the presence of well-developed wireless network communication architecture. Also, there will be a surge in the usage of SCADA systems owing to the rising usage of IoT technology in a wide range of industries. In Asia Pacific, the presence of industry giants, such as Omron Corporation, Mitsubishi Electric Corporation, and Yokogawa Electric Corporation in Japan, China, and India would drive the SCADA market share. In North America, the higher utilization of SCADA systems by service providers and power operators are set to augment growth.
Competitive Landscape-
Key Players Focus on Launching New Software Solutions to Intensify Competition
The market houses a large number of companies that are presently focusing on unveiling latest software solutions to enhance their existing product portfolio. Some of them are also planning to collaborate with other reputed ones to purchase specific businesses of local companies. Two of the latest industry developments are:
List of Key Players Mentioned in the Report:
- AVEVA Group plc
- Emerson Electric Co.
- Yokogawa Electric Corporation
- Schneider Electric
- Check Point Software Technologies Ltd.
- Hitachi, Ltd.
- JFE Engineering Corporation
- ABB Ltd.
- Other market players
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